DEX : what features you want in it

Toby

New member
Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
 

Nicholas

Member
Binance provides a crypto wallet for its traders, where they can store their electronic funds. Binance has its own token currency, Binance Coin
 

Roman

Member
Not necessarily features, because I don't think features are what so called "DEX"s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or "DEX"s are missing. I'm going to admit I haven't tried Binance's "DEX" though
 

Easton

Member
Lots of things. One of the most important is having the ability to use some sort of community governance to filter out good/standardized coins to a public section of a decentralized exchange while allowing developers to permissionlessly add any kind of coin on another section of the dex.
I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this
 

Carson

Member
I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this
Lack of abuse.

The project just can be paid or doing a small airdrop task for all his community to listed their token on the exchange, so not a good option. IMO we don't need a lot feature on DEX, what we need from DEX is when we have full control of your asset comparing centralized exchange. So, as long we can fully control our asset, enough for us to use DEX when doing a trade
 

Jeremiah

Member
I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this
Lack of abuse.

The project just can be paid or doing a small airdrop task for all his community to listed their token on the exchange, so not a good option. IMO we don't need a lot feature on DEX, what we need from DEX is when we have full control of your asset comparing centralized exchange. So, as long we can fully control our asset, enough for us to use DEX when doing a trade
for non custodial exchanges, you do have the full control of your assets. if you try using the tronlink pro wallet on your phone and try the poloni DEX, you can trade there directly with your assets still in your wallets. this is the same thing with other platforms like in EOS. you can trade on DEX such as WhaleEx or Newdex using your scatter wallet. basically they are non custodial exchanges.

what features i would like is the mining/staking to earn other tokens. some dex already have this features
 

Cooper

Member
Faster and cheaper transactions, just the basic tenants of what should a DEX should be. And course we wanted to see more coins that we can trade, perhaps margin trading could be a good addition.
 

Angel

Member
Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
There are a lot of benefits that we can get from any decentralized exchanges

*Low trading fees: however this will also matter of we want fast transactions or not (high fees=fast transaction) but still depending on the network traffic.
*Security: no third-party involve
*Easy to manage asset: we the one that fully controlled our wallet

But it comes into trading volume and pairs, DEX isn't good to that, and that is the reason why many investors will look into CEX even they are risking their wallet keys and prone to hacking
 

Ezekiel

Member
Faster and cheaper transactions, just the basic tenants of what should a DEX should be. And course we wanted to see more coins that we can trade, perhaps margin trading could be a good addition.
margin trading can be done already on defi exchange where they add sythetic assets. the ones you are seeing where there is iBTC and sBTC which is also paired with sUSD. i think the decentralize exchanges today are also going to be in that direction too which they may add their own for the derivatives trading. its becoming sophisticated so i hope they can thoroughly test everything before deploying their protocols
 

Connor

Member
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges.
No specific "special and unique feature".

Just worked on being 100% DEX as what it supposed to be - fully operational, high level of security, fewer bugs, smooth interface, etc.

Think outside the box how your DEX will catch everybody's attention to use it to somehow boost trading volume
 

Jameson

Member
If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges.
There's a lot of features that don't have on DEX that trader's want. First, is the limited type of orders or we can say low liquidity and volume and most commonly they dont have margin trading.

Next is the speed limit to execute orders, CEX might have a faster speed to fill an order than DEX, so probably this is the mean problem of DEX why trader prefers to use CEX rather than DEX. But for me, there are several factors that we can consider as a good benefit upon using DEX, and that is when it comes masking your privacy
 

Axel

Member
Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it, which is not in other exchanges. How this DEX can be made work like binance.
thanks.
You mean Binance Centralized exchange? Most of DEX are the same but they lack something liquidity and good volume with a very low fees. Uniswap has good volume and liquidity but it has a huge fees, Binance DEX has very low fees almost nothing but the projects listed on it have few activity there is a little volume. Justin sun justswap seems interesting we all know that tron have low fees just like Binance chain but they have only few good projects listed on it Ethereum is still more popular. So, overall I want a dex with low fees, good volume and liquidity
 
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