Seen a lot of people argue that DEX's are bad for 2 obvious reasons:
1) Speed of trading
2) Liquidity/volume
Stakenet solves both of these problems with their Lightning Network compatible DEX, which is an integrated part of their multi currency wallet. Off-chain trading is instant, which solves the speed issue.
Next issue is liquidity, which is solves by integrating a "DEX Aggregator", which basically combines other DEX orderbooks into Stakenet's, adding TONS of liquidity, with USDT adding Lightning soon, you'll be able to scalp BTC profits instantly while on the "go", since this will be available as a phone app as well.
It still leaves much to be desired in my opinion. The issue of speed seems to be taken care of but whatever about liquidity? Not so sure. This is why centralized exchanges have always been ahead of decentralized exchanges. Orderbooks in DeXs are usually thin. I hope stakeNet solves this soon. Kudos to the StakeNet team. They seem to be the only ones concerned about the future of decentralized exchanges. Liquidity is solved with Stakenet's "DEX Aggregator" which combines multiple DEX order books from other DEX's together in ONE. This means they'll be accessiable through their API, meaning TONS of liquidity will be available here, benefitting all DEX's around us today, since you could trade with someone from the BISQ DEX without even knowing it, makes sense? These guys thought of everything... Literally. Yes, Its true that Stakenet would add the Dex aggregator feature sometime in the future (according to the stakenet roadmap). While I'm aware of this, I didn't consider it in my reply as it's still an upcoming feature in the roadmap and we can't say if it'll solve the problem of liquidity and volume that the status quo DEXs are currently experiencing. Uniswap and Kyber partnered together in 2019 to pool liquidity. Until then, I'd be keeping an eye on stakeNet's roadmap for DEXs aggregator release. As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after. Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc. |
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Would like to find a new, high enough percentage staking coin. Kind of hard to buy coins that are higher priced as the price usually ends up falling. Anyone know of any, in the 1-10 Sat range? I am hoping to stake in the old way, without strange systems, just basically the wallet staking on one's own machine.
Stay away from new projects, and go old school man. You'll get burned HARD by new POS coins, a friend of mine lost nearly everything buying B3coin which had an enourmous 10,000% annually ROI on staking, which made the coin demand pump insanely high, and then fall HARD (due to inflation). Check Blocknet, which yields around 18-20% currently, rock solid project from 2014, which have much more going on for them than just "staking", in fact you can profit off of their DEX if you run a service node (5000 coins required), or profit from their decentralized oracle network, once launched (in beta now). They are also working towards a better Infura solution, which can handle billions of requests/day. It's a project focusing around blockchain interoperability, which is pretty damn cool. |
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That's pretty interesting. I like POS, since it allows ANYONE to increase their holdings through staking, mining is only for people who can afford expensive mining hardware, and thus makes it a bit too centralized (at least with BTC). There's a lot of people who are against POS, since the "rich get's richer", but that's the same in real life, dividends paid by banks benefits rich people more than the poor (unless we get negative interest rates obviously). I'v'e been staking my BLOCK for a while now, and enjoy the passive income aspect it gives me, I make around $100/ month without doing anything, and I must admit it's good gas money, if I where to spend it right now, I'm hopeful that my holdings will increase in value, (with the rest of the altcoin market), hopefully enough to retire some day!  |
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Never traded on Bisq, but seems like the hacker exploited a loophole they had. I've only traded on Blocknet's DEX, which to this date never have been hacked, and hopefully never will, due to their decentralized network. Nodes are hosted by masternodes, so you'd have to be able to somehow take control of those to route transactions elsewhere, which is highly unlikely.
From what I could read, the only coins taken was XMR though.
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That's pretty impressive. That BTC swap, was it an OTC deal taking place? I'd love to know! |
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Pretty dope. I can't wait for the official release of this. I'm sure a lot of people will make use of the DEX's due to it's speed and simplicity. |
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KYC beats the purporse of cryptocurrencies entirely. The better option is to trade on DEX's where you stay anonymous at all times, since you don't need accounts or anything else to make use of them. Personally looking forward to Stakenet's Lightning compatible DEX, which allows instant off-chain trading. Lightning hubs will be hosted by masternodes, so you don't need to be "tech savy" to make use of it. Here's a preview of what's coming:  |
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I'd love to see actual trading bots executing orders on the DEX itself. Since we'll have a DEX aggregator combining DEX order books from other DEX's (such as Komodo), liquidity will be of no problem if you want to do some arbitrage. Pretty exciting to see how it plays out |
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This is not a 10x, but much more a 50x if it takes off. Not even kidding.... I thought people were more mature and didn't believe in things like 10X and you are talking about 50X? this is very exaggerated optimism and the kind of thing that is not recommended. you should look for safer projects that are already established in the market so that at least you have a decent profit but without taking too many risks. I pointed out the fact that this project was not listed on many exchanges and saw some arguments on that subject here in that thread, but they are arguments that do not convince me. Exchange listings costs a fortune, and is generally not worth it if it blows all the dev money, which could be spent wiser on development. The DEX itself will be the hot spot to buy XSN on the short term, long term they will build partnerships with bigger venture capital firms to get funding for stuff like exchange listings. If you compare a project like Stakenet, with a lot of the top 100 projects on Coinmarketcap, you could easily (from a technological view) put Stakenet at rank 60 or so for what they've accomplished. Which with a current marketcap of $3.5 puts them in a high ROI position. Speculating on projects is dangerous and risky, but that's all a part of the game. |
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Stakenet is a very promising one for multiple reasons.
They invented cold staking, and is supported by Ledger, Trezor, Xeeda.
Building worlds first Lightning Network compatible DEX, which allows instant trading via off-chain transactions. This means trading bots can be used for arbitrage and much more. Basic on chain atomic swaps on traditional DEX's is way too slow unless you deal with coins like NANO/XRP. BTC/LTC will take way longer
XSN is valued at a $3.5 million marketcap, which is insanely low for what they have accomplished thus far.
They have SO much else on the roadmap, but way too much to list here.
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Bitcoin will do just fine. Everything will be fine actually. Just keep accumulating as much as you can before the next bull run. I'm stocking up on BLOCK, as I believe DEX's will do amazingly well in the future - Since you can profit off the trading fees if you own a masternode, I'm definitely going to buy one for the long term. |
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Eventually KYC-less wont be a thing unless you trade on a real DEX such as Blocknet's DEX.
There are plenty of wannabe "hybrid" or plain "fake" DEX's out there, so be careful, as we've seen so called "DEX's" enforce KYC on their users. A good rule of thumb is that a real DEX doesn't need your email, or any registration whatsoever.
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Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha. Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there. If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter. Nice, that's actually pretty cool. I'm eyeing a lot of great opportunities to take advantage off with these low prices. Think I'll buy some BLOCK, been accumulating a lot of ADA, ETH, and BTC lately, so I think I'm pretty well diversified for the next run up. Diversification is key! I'm doing a ton of research on other DEX related projects as well as of recently. Also looking into DEFI projects, as it seems like decentralization is the next step forward, these projects will likely be the biggest gainers next bull run. Good luck! DEFI is definitely getting a lot of attention recently, anything that goes with decentralization is, which is obviously why Binance, and CZ is getting so much critisism lately for their bold behavior on everything. They want control, power, and monopoly, something that goes completely against the whole crypto community, which I guess they'll be punished for eventually, once people wake up. I'd love to hear about alternatives to Blocknet, as I want to put my money into projects that builds on the idea of decentralization. Anyone? |
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I believe Blocknet which is a coin associated with the Blocknet project building decentralized tech such as their Block DX, will do amazingly well in the future, since node owners can profit off of trading fees, which makes the coin itself in high demand if people start trading on the DEX, speaking high volume trading. Not only that, but Blocknet's XRouter, and XCloud/XBridge is gonna be profitable as well for node owners, since it's basically a new decentralized Infura and Oracle Network, powered by nodes. You'll have to do your own research on this in order to fully grasp it's full potential though.  |
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Binance owning Coinmarketcap is enough of a reason, why I wont use it anymore. Information like that is very important to keep decentralized. Sooner than later, we'll see Binance ads all over Coinmarketcap, CZ controlling it will lead to competitors being removed from the site itself perhaps.
I'll use Coingecko instead, which has been far better in terms of actually removing wash trade exchanges from the list of "most popular exchanges".
I hope DEX's will be listed, and actually recognized eventually as well, as it's probably where we're heading next. DEX's allows anyone to trustlessly exchange without undergoing KYC, for this reason alone, I'm buying Blocknet coins while they're cheap.
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Favourite trading platform will have to be Kraken, used to be a fan of Binance, but after the recent scandals, I refuse to support it. Overall there is a lot of decent exchanges out there, some of them has WAY too much wash trading though, it's getting insane.. Been playing around with DEX's as of lately, and hate the slow trading using "atomic swaps", until I discovered Stakenet's DEX which is Lightning Network compatible, which means not only is the trading fees VERY low, but trading is also instantaneous. Next problem is liquidity, which they solve through the use of a #DEX Aggregator", which basically combines multiple DEX order books (From other DEX's out there) through API calls, and adds them into the Stakenet DEX, which opens up for a LOT of liquidity, and benefits all the existent DEX's out there as well. Here's a screenshot:  |
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Favourite trading platform will have to be Kraken, used to be a fan of Binance, but after the recent scandals, I refuse to support it. Been playing around with DEX's as of lately, and hate the slow trading using atomic swaps, until I discovered Stakenet's DEX which is Lightning Network compatible, which means not only is the trading fees VERY low, but trading is also instantaneous. Next problem is liquidity, which they solve through the use of a #DEX Aggregator", which basically combines multiple DEX order books (From other DEX's out there) through API calls, and adds them into the Stakenet DEX, which opens up for a LOT of liquidity, and benefits all the existent DEX's out there as well. Here's a screenshot: |
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Favourite trading platform will have to be Kraken, used to be a fan of Binance, but after the recent scandals, I refuse to support it. Been playing around with DEX's as of lately, and hate the slow trading using atomic swaps, until I discovered Stakenet's DEX which is Lightning Network compatible, which means not only is the trading fees VERY low, but trading is also instantaneous. Next problem is liquidity, which they solve through the use of a #DEX Aggregator", which basically combines multiple DEX order books (From other DEX's out there) through API calls, and adds them into the Stakenet DEX, which opens up for a LOT of liquidity, and benefits all the existent DEX's out there as well. Here's a screenshot: |
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Pretty damn cool. When exactly is this DEX planned for release, and where do I get to try it out? It looks amazingly sick from the screenshots I've seen shared so far. From what I could read they've integrated trading view as well? That's pretty damn useful, since I'm a day trader.
You need to join their Discord server, and ask for an invite to their private testing group. Not sure if they take anymore new members right now though. No real ETA is established, but a safe prediction is around a month, as I don't see much bugs reported anymore, seems to work smoothly at this point. |
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I'm in XSN and have been since the swap from PoSW.
For some perspective, buying POSW was my biggest regret in 2017. My bags became so worthless that they weren't even worth selling. It had working products in the form of a centralized exchange and a staking service, but the implementation was messy and ultimately unsustainable. Ironically, XSN is my favorite coin and I consider myself lucky to have discovered it completely by accident. I'm buying a little more today, in fact.
The X9 Developers took over the project a little more than 2 years ago with a significantly more comprehensive idea to embed Lightning nodes into their MN network and then use the liquidity of each masternode to execute heavy-hitting orders quickly. It's the best implementation of Lightning I've seen. It's fast, effective, and provides a theoretically unlimited quasi-centralized pool of funds in a completely decentralized manner. If it takes off - mind you, I do believe it will - their implementation will make it very easy for anyone to use Lightning without the need for additional hardware.
On that note, it could be argued that Lightning isn't profitable enough to justify on it's own. At the very least, it could be argued that Lightning isn't profitable enough to be anything other than complimentary to something else unless it is done on a very massive and centralized scale. Stakenet has a tremendous advantage here as the masternodes already perform several other profitable jobs in addition to routing LN payments.
Put briefly:
Purely decentralized network that runs a code-agnostic interchain exchange with all the benefits of Lightning and centralization without the need for hardware add-ons.
It's brilliant and it raises the bar in a way that truly honors the Cypherpunk Manifesto like XMR and Bitcoin did.
Thanks for your insight man. You clearly know a lot about the scaling issues we've seen, and how Lightning can solve this moving forward. Lightning in itself on BTC doesn't seem like a profitable thing for node owners, but when you enable it on already profitable masternode servers, it's another story. Pretty exciting to see where this is going, the latest major crash, didn't do nothing to price in satoshi, which is pretty awesome! |
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