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Yes, the reward for joining and completing the alpha test is 50 USDC
HEX (hybrid crypto exchange) is a relatively new term, and it may be confusing at the moment.
What potentially could be the major improvements of DEX?
If you would like to join our early testers pool, let us know by filling a form:
https://g35xd7c6u4y.typeform.com/to/uHszHGnO
https://g35xd7c6u4y.typeform.com/to/uHszHGnO
Is there any rewards on joining your alpha test?
I agree on what @mk4 mention above, I don’t understand how this exchange become a HEX by just getting the easy UI and customer support feature. Being centralized exchange means the service is fully controlled by the operator. This is just a DEX exchange with minor improvement. It’s confusing for a service to called HEX since Centralized and Decentralized are two opposite feature mainly due to how the user funds being handle.
Hi,
That's a good question, thanks.
While we don't offer complete anonymity or a "wild west" approach, we do review transactions when needed to prevent activities like money laundering or terrorism support. However, it's important to highlight that assets are stored in a self-custodial wallet. This means users can interact directly with the blockchain. If suspicious activity is detected, we might restrict access to the app, but unlike many centralized exchanges, we can't freeze or interfere with transactions.
There's always some chatter and apprehension regarding centralized exchanges (CEXes), especially following significant fraud events. While decentralized exchanges (DEXes) offer a degree of self-custody, they can be challenging for newcomers and tend to be cautiously approached by regulators. As for "HEX", it does seem that the market is leaning in that direction, potentially bridging concerns of both users and regulators.
Can you mention some of these projects leaning in the same direction?
Allright, another project that wants to combine CEX and DEX together. Explain to me, to what extent decentralization will be provided to users while hex is legally bound (this is written on your site)?
I noticed that several hybrid exchange developers in the context of management are being intensified. Considering global regulations, it seems that the space for centralized business is more limited. Will Hybrid Exchanges be the next hype element in the next bull run after memecoins in the previous bull run?
I noticed that several hybrid exchange developers in the context of management are being intensified. Considering global regulations, it seems that the space for centralized business is more limited. Will Hybrid Exchanges be the next hype element in the next bull run after memecoins in the previous bull run?
hey,
Thanks for the feedback.
I think soon enough, we will revise the content on the page.
Recently, we made a thread on Twitter (X) listing current features:
https://twitter.com/MonitokHEX/status/1710296940657754496
We don't have access to private keys. We simply offer a backup feature that allows users to save their private key in a digital format, either on their phone or on a private cloud service like iCloud/Google Drive. It's up to the user to decide where to store the key. This kind of feature has become standard among wallets these days - Uniswap wallet, Trust Wallet, Ultimate Wallet, Spot Wallet and etc. has it too.
I started to notice that the cool thing now is to combine the terms CEX and DEX with the word “best” to get a new platform. Words like decentralization, we don’t ask for your data, and high liquidity are no longer attractive.
I hope that the introduction to the project will be more specific and explain the platform’s features instead of CEX and DEX.
Since you give users the option to encrypt their private keys, this means that the code is closed source cloud and you can also know those keys.
The service is still centralized as you need to connect to your application and not to a decentralized network
I hope that the introduction to the project will be more specific and explain the platform’s features instead of CEX and DEX.
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Optionally, store your private keys in your personal cloud for safekeeping and easy recovery.
Since you give users the option to encrypt their private keys, this means that the code is closed source cloud and you can also know those keys.
The service is still centralized as you need to connect to your application and not to a decentralized network
Hey, thanks for the tips.
I believe you're right, it offers decentralization to a certain degree that's why it's called 'hybrid'.
As a platform is under the guidance of EU regulations, we must comply by ensuring access is granted only to verified users. However, the true ownership of assets always remains with them.
Put it simply, if users steer clear of any suspicious activities, they are free to use the app - hold, send, receive, swap, convert assets and etc. And no matter what, users will always have access to their private keys. At most, we can only request restricted access to our app and report the user to authorities.
Does it make sense?
It's probably best to create a proper announcement thread for this. You're announcing a new project, after all. And there are probably certain details that many here would want to know.
In any case, I'm amazed at how new projects are marketing their products. They always come up with a unique way of presenting themselves to attract curiosity and attention. They claim to be a breakthrough or revolutionary. They want people to see them as fresh. But they're probably not.
I suppose centralization and decentralization are mutually exclusive. It cannot be possible, for example, to claim to be decentralized at the same time specifically provide in the terms and conditions that KYC may be requested and that failure to provide personal information shall be a ground for one party to terminate any relations. This essentially means there's a central authority that has the power to decide.
In any case, I'm amazed at how new projects are marketing their products. They always come up with a unique way of presenting themselves to attract curiosity and attention. They claim to be a breakthrough or revolutionary. They want people to see them as fresh. But they're probably not.
I suppose centralization and decentralization are mutually exclusive. It cannot be possible, for example, to claim to be decentralized at the same time specifically provide in the terms and conditions that KYC may be requested and that failure to provide personal information shall be a ground for one party to terminate any relations. This essentially means there's a central authority that has the power to decide.
hey, thanks for the tips
During the testing phase, we don't require verification, also testing is being done with our small deposit of USDC. Can you share an example of this review campaign? I am new to this forum
I will forward these points to my team. BTW I think the UI of the app is good, hope you join the testing campaign to investigate it too.
You can start a review campaign on the forum that will not cost you much, usually between $30 and $50 per review, and you can choose the number of reviews that you find appropriate, as long as your service does not require identity verification, otherwise it will not be hybrid, but rather central.
You need to redesign the UI so that it is professional, simple, and responds to the questions that users may ask, such as the required data application, do I need to connect my wallet, deposit and withdrawal fees, and how will liquidity be provided.
If you create something special, you will find sufficient support.
You need to redesign the UI so that it is professional, simple, and responds to the questions that users may ask, such as the required data application, do I need to connect my wallet, deposit and withdrawal fees, and how will liquidity be provided.
If you create something special, you will find sufficient support.
Hey, Thanks for your point,
I believe user selects a service to what is important to them. Our decentralization part is ownership of the assets; we don't promise anonymity. DEXes has its own flaws, especially if you are starting or ending with FIAT.
Thanks for noticing, I think the admins moved this section to the altcoins marketplace.
I don't see your exchange are accepting Bitcoin (not a fake Bitcoin e.g. wrapped Bitcoin), so you should move this thread to Service Discussions (Altcoins) section.
Hybrid exchange, sounds interesting, but the reality isn't. It just a centralized exchange that also has an instant exchange, people are obviously choose to use centralized exchange than the instant one because CEX has lower fee and both of them don't have any privacy.
Hybrid exchange, sounds interesting, but the reality isn't. It just a centralized exchange that also has an instant exchange, people are obviously choose to use centralized exchange than the instant one because CEX has lower fee and both of them don't have any privacy.
[moderator's note: consecutive posts merged]
