Pages:
Author

Topic: (Yes or NO) The 2020s belong to DEXs - page 4. (Read 5566 times)

jr. member
Activity: 322
Merit: 2
November 09, 2020, 03:18:06 PM


Why would anyone ever want to keep using centralized exchanges, especially when their volume becomes irrelevant?

Why would anyone voluntarily send their funds to a wallet on a vulnerable exchange where they don't own the keys and their funds could be frozen at the drop of a hat?

I think the days of centralized figureheads acting as gatekeepers are numbered.
all of the above Dexs are well worth a try and trade there. But you need to know that the current Cryptocurrency market is a price-making market. Of course, no Dex will be able to satisfy whales' manipulation.
although Dex may really shine in the years to come, Cex is sure to outperform.
Besides the decentralized market nature, there are still more functions in Binance than the Dexs nowadays. Even with lower fee and higher volume, then traders will definitely choose Binance to trade better.
Therefore, Cex still has an important influence in this market, do not reject it and look at reality to make more accurate conclusions.
There's no doubting CEXs influence and place in the market, but innovation appears to be finding itself on the DEX side of things more and more everyday.
hero member
Activity: 994
Merit: 503
November 09, 2020, 12:42:35 PM


Why would anyone ever want to keep using centralized exchanges, especially when their volume becomes irrelevant?

Why would anyone voluntarily send their funds to a wallet on a vulnerable exchange where they don't own the keys and their funds could be frozen at the drop of a hat?

I think the days of centralized figureheads acting as gatekeepers are numbered.
all of the above Dexs are well worth a try and trade there. But you need to know that the current Cryptocurrency market is a price-making market. Of course, no Dex will be able to satisfy whales' manipulation.
although Dex may really shine in the years to come, Cex is sure to outperform.
Besides the decentralized market nature, there are still more functions in Binance than the Dexs nowadays. Even with lower fee and higher volume, then traders will definitely choose Binance to trade better.
Therefore, Cex still has an important influence in this market, do not reject it and look at reality to make more accurate conclusions.
member
Activity: 308
Merit: 15
November 09, 2020, 12:15:13 PM
Yes, UNISWAP is one dex platform truly becoming a good platform and even added to the active market right now with bitcoin market price per btc leap to almost 15,500 $ and this could be a good indicator that we are heading towards bull run for bitcoin. How much could it done in this possie bull run.

There are other DEX project too and I think they are doing fine as well.
full member
Activity: 840
Merit: 117
November 09, 2020, 11:41:02 AM
Answer is yes because I invested on one project and this project is related energy and power so after long term they changed their mind and now they are going to launch own DEX platform where we can easily exchange tokens so I am not aware of other projects who also launch DEX or many other dex project coming so we can say 2020 belongs to DEX.
member
Activity: 746
Merit: 10
https://axiomapay.com/
November 09, 2020, 10:23:11 AM
Maybe Yes, like example Uniswap Platform is really great but we can't say Same with other DEX, another thing is most of DEX only support erc20 token and there is no way to trade assets from other chains, one can easily exchange their erc20 tokens to eth or another token. but for now uniswap DEX always has high trading volume even though the fees there are high.
member
Activity: 490
Merit: 19
November 09, 2020, 07:57:26 AM
In 2020? No, but it looks like very soon DEX will take over CEX, today I saw a news about government trying to use the law to force centralized exchanges to give up their users data, if this finally gets approved many will quit using centralized exchanges and move fully onto DEX
full member
Activity: 1048
Merit: 101
November 09, 2020, 07:55:16 AM
before DEX Boomings in 2020, many users were not very fond of trading there for several reasons especially the high withdrawal fees. however, after unforeseen events like the UNI Airdrop has become a major concern for traders. people are getting interested in using uniswap DEX, many new projects are listed on their platform and it can be said that 2020 is the year of DEX.
hero member
Activity: 3010
Merit: 666
November 09, 2020, 06:43:41 AM
YES, 2020 is DEX year. as we saw when the beginning of August there were many DEFI projects appearing and being listed on the Dex platform, especially uniswap. There are many scam and successful Defi projects when listed on the uniswap platform. So, I think 2020 is the year of Defi and Dex.

This is due to the hype of DEFI projects,back from the beginning of the year, it was Binance DEX which was so high but it failed to proved us that it will lead the DEX market, until now, its volume did not grow, now only below $500k (https://coinmarketcap.com/exchanges/binance-dex/), compared to uniswap which has over $200 million in trading volume.
member
Activity: 490
Merit: 19
November 07, 2020, 08:22:03 AM
The king of dex in 2020 is uniswap as it's owns the highest liquidity among all other dex exchanges in crypto space, well thanks to DeFi Hypes since few months ago but now it's done after DeFi projects lose their bullshit touch, this year biggest volume and liquidity belongs to centralized exchanges not Dex
jr. member
Activity: 322
Merit: 2
November 05, 2020, 05:49:35 PM
Going back to the thread that was created back 2019, the answer is YES 2020 really belong to the DEX and the Decentralized Finance and there's a possibility that the trend will continue this 2021, because of the success of UNISWAP and the many projects that are hooked up in Decentralized finance.
Looks like the OP did not know about Uniswap I know Uni is already live prior to creating this thread its not on the list but its one of the most used and huge in volume this time the only problem is the trading cost because of eth network  we need a dex which has cheap cost and can do cross chain trading with huge liquidity.
It's true. I missed a few ETH-based DEXs at the time. I thought about adding them in at a later point but decided to leave the original post as it is.

Uniswap did remarkably well over the summer. It was a great way for people to get into DEXs but it was pushed to it's limits very quickly imo.

Bitcoin was intended to be P2P cash and Ethereum was intended to execute smart contracts written in Solidity.
Neither of their blockchains create an optimal environment for running a DEX as they weren't initially designed for it. Uniswap put quite a bit of stress on Ethereum.
ETH 2.0 has the potential to be considerably more powerful, but I don't see how it can attain a fluid level of interoperability without using wrapped assets.

There's a reason I've been talking up Stakenet DEX this whole time.  Grin

Bitcoin needs Lightning Network as a "relief valve" for on-chain congestion. With a proper L2 solution in place, BTC will be very effective at serving it's original purpose as P2P cash. Transfers instant. Fees very low.
Ethereum could equally benefit from relieving it's on-chain tx with a Layer 2 solution like Raiden.

Stakenet DEX has been working towards a fluid, native interoperability on Layer 2 since 2018 - long before there was a demand for DEXs, long before people started adopting them in large numbers, and long before they began to realize the shortcomings of using Layer 1 as the platform for executing a flood of trades. Executing atomic swaps on-chain, while inherently secure, is considerably more expensive and, as demonstrated by Uniswap, leads to rather high rates of failure. Imagine if Uniswap was handling Binance's level of volume in addition to bots that trade quickly and maniacally! It would greatly burden the chains involved in and detract them from their original, intended purposes.

As Stakenet has continued to build on this model, a few others have followed suit. Uniswap itself has been looking at Layer 2 to help scale out. It is, however, still bound to Ethereum.
Stakenet/XSN is fast on L1, code-agnostic, Lightning compatible (BTC/LTC and all LN compatibles), Raiden compatible (ETH/ERC20), and flexibly adaptable (more/better L2 solutions can be adopted and implemented). At it's core, XSN was designed to do exactly what it's doing - bridging different chains with different purposes speaking different languages together so they can achieve a more harmonious level of interoperability between each other, and offsetting as much unnecessary stress from Layer 1 as possible.

It is increasingly important over time that both BTC's L1 and ETH's L1 are as optimized as possible! Otherwise, they will both run into scaling problems fast. Remember in 2017 when crypto really started to take off and then Bitcoin tx started taking hours upon hours to clear? It will only hinder crypto's growth.

Stakenet DEX went into open beta in late August after a lot of stress-testing. The open beta currently executes L2 atomic swaps between Bitcoin, Litecoin, and XSN. L2 atomic swaps between BTC and ETH are being stress-tested in private beta and should be coming rather shortly.  Wink
They're also stress-testing a Uniswap-like interface now known as the "Simple Swap UI" - SSUI for short, where all you have to do is deposit to a private wallet, choose the coin you want to swap into, and press a "swap" button to execute the tx. I've tested it personally and am very excited to see the impact it can have on this industry. There's a very promising future ahead for this sort of technology!
member
Activity: 423
Merit: 11
November 04, 2020, 05:17:31 PM
When up-and-coming DEXs become more convenient than Binance...
~snip

I think people don't easily use any kind of exchange, be it decentralized or centralized.
Of course the exchanges used already have public trust. Binance is a centralized exchange that is already trusted by crypto users, and many other centralized exchanges. If it is unbelievable for the easy reason of freezing, then it has already happened, but it is not.
Talking crypto is trust, because crypto is anonymous.
member
Activity: 239
Merit: 17
November 04, 2020, 02:56:48 PM
I for one don't accept that DEXs will essentially sprout into boundless selection out of nowhere. The truth of the matter is that cross stage and fiat mix is as yet missing notwithstanding the best endeavors of DEX suppliers to make their own stablecoins or token portrayals of altcoins that are not on their foundation. Accordingly, it's hard for individuals to turn down exceptionally develop incorporated innovation and move to finish decentralization in this field inside a year.
Notwithstanding, I do feel that in the short run, they can produce some publicity. Particularly on account of a potential wide based buyer market in 2020.
sr. member
Activity: 1988
Merit: 453
October 04, 2020, 07:59:17 AM
I think the kucoin hack is only going to accelerate the movement towards DEXs. The only issue I see now is the high transaction fee and the user interface which can be made simple for novice users.

There is not a single cryptocurrency exchange out there, which we can trust 100%. I have lost my cryptocurrency holdings with multiple exchanges. The mainstream exchanges also need to understand this. Why can't they allow us to own our coins. After all, these exchanges are just trading platforms. Why they should always ask for keeping the coins in their hot wallets?
hero member
Activity: 2268
Merit: 588
You own the pen
October 04, 2020, 06:04:05 AM
I think the kucoin hack is only going to accelerate the movement towards DEXs. The only issue I see now is the high transaction fee and the user interface which can be made simple for novice users.

That's one thing and because of this incident, the way people see the Dex exchange right now is way better than the centralized exchanged which is often get hack. right now, we have many people who prepared Dex exchange rather than the one who supposed to be the most secured and trusted but everything change when the incident of Kucoin has come. Most of the investors have changed their strategies on not putting their trust in some centralized exchanges except for few exceptions namely few like Binance, Okex, and other top centralized exchanges.
member
Activity: 518
Merit: 11
October 04, 2020, 05:07:07 AM
The majority of the community now in cryptocurrency believed that DEX is really better than anyone else. Even centralized exchange always listed on top in the market. Although, I believed that DEX is really good.  But of course for us to earn in a good way We also need to ride with the flow in the market as well. Therefore, all you had mentioned are all true and correct.
hero member
Activity: 2492
Merit: 542
October 04, 2020, 04:28:32 AM
Going back to the thread that was created back 2019, the answer is YES 2020 really belong to the DEX and the Decentralized Finance and there's a possibility that the trend will continue this 2021, because of the success of UNISWAP and the many projects that are hooked up in Decentralized finance.
Looks like the OP did not know about Uniswap I know Uni is already live prior to creating this thread its not on the list but its one of the most used and huge in volume this time the only problem is the trading cost because of eth network  we need a dex which has cheap cost and can do cross chain trading with huge liquidity.
sr. member
Activity: 2030
Merit: 269
October 04, 2020, 04:03:18 AM
Going back to the thread that was created back 2019, the answer is YES 2020 really belong to the DEX and the Decentralized Finance and there's a possibility that the trend will continue this 2021, because of the success of UNISWAP and the many projects that are hooked up in Decentralized finance.
member
Activity: 1050
Merit: 10
Martian Swap - Anti Whale Measures New Yield Farmi
October 04, 2020, 02:07:56 AM
Maybe. I know at this moment Dec gain some higher using rate. Dex based coins are pumping. Same thigh happened in 2017-2018 almost every big exchange announced or publish their Dex. But that hyped gone. Now defi is in hype and for that some exchanges specially dexes are in hype. But I think in time few of these dex will survive and others are not gonna work in long run. That's just my opinion. Now it's upto you you follow them all or not.
member
Activity: 398
Merit: 10
October 01, 2020, 08:50:19 AM
I see DEX is trending and that is the solution to avoid the market makers manipulating the rates and generating dump and pumps.
For years centralized exchanges have been pumped altcoin to attract traders, they listed tokens, coins and made great profits, transaction costs on centralized exchanges have also gone up significantly. tell.
DEXs make things more transparent. We have real volumes, the listed projects are more equal and there is no cost for enumeration. That money will save the project owner and they will have more money to do something cool in the future. Transaction costs will be given to the liquidity providers. DEXs also make traders' money safer because it doesn't move to a hot wallet. That will avoid the big hack that is not worth it.
sr. member
Activity: 500
Merit: 250
BountyMarketcap
October 01, 2020, 08:41:29 AM
as an example,Binance is a centralized exchange and they've built the confidence from the people and the incident that happened of them with hacking, they've refunded those who are affected but not every exchange can do this.
Many centralized exchanges has a good volume that's why many are staying on their side and as for the other DEX, many of them too doesn't have a good volume so that's why traders are wanting to get into those centralized exchanges with volume which their coins are listed.
Partly you are right, at the moment there is no convenient DEX exchange, but I am sure that the future belongs to them! When you do not need to trust your funds to a third party... In my favorites - Komodo DEX, with the function of atomic swaps!
Haven't heard much from KMD in awhile. Good to hear they're doing ok.
KMD. Just remembered me, I have registered there for a long time. But it has been a long time since I signed into the KMD account.

With the atomic swap function, I think KMD is worth taking into account in the Dex exchange.
Pages:
Jump to: