What features do YOU want in a DEX?

[Gozzy]

Dear Bitcointalk,

I've only recently found my way back here, after my long journey through the market over the past year. I've taken the time to develop with no previous background of code, i'm loving every bit of it. I was developing for a coin that's found it's way in and out of the top 100 ranks, on a yearly basis. Unfortunately things didn't quite work out and i decided to decline progressing forward with the project, as I wanted to create something of my own. For the time being i've taken on some part time developing, i've been asked to develop a DEX for a upcoming project that had a successful ICO and which is being released to the market in the future.

Regardless i'm here to ask you guys what features would make a decentralised exchange an enjoyable experience to use, for you the traders. Obviously the main attribute of a DEX is security, we've all seen what's happened with Etherdelta's DNS problems. UI is also an number one it needs to be concise, clear and fluid. Some of the other problems i've been discussing with other's are gas compensation and double order's being submitted to the books. I've some other ideas i'll keep under my sleeve until release, but please do feel free to make recommendations as I really want to hear the voice of the people on this topic.

Cheers,
Gozzy 

[Gozzy]

Bump, anyone?

[jmlona]

Dear Bitcointalk,

I've only recently found my way back here, after my long journey through the market over the past year. I've taken the time to develop with no previous background of code, i'm loving every bit of it. I was developing for a coin that's found it's way in and out of the top 100 ranks, on a yearly basis. Unfortunately things didn't quite work out and i decided to decline progressing forward with the project, as I wanted to create something of my own. For the time being i've taken on some part time developing, i've been asked to develop a DEX for a upcoming project that had a successful ICO and which is being released to the market in the future.

Regardless i'm here to ask you guys what features would make a decentralised exchange an enjoyable experience to use, for you the traders. Obviously the main attribute of a DEX is security, we've all seen what's happened with Etherdelta's DNS problems. UI is also an number one it needs to be concise, clear and fluid. Some of the other problems i've been discussing with other's are gas compensation and double order's being submitted to the books. I've some other ideas i'll keep under my sleeve until release, but please do feel free to make recommendations as I really want to hear the voice of the people on this topic.

Cheers,
Gozzy 

Obviously being decentralised is the biggest attraction and after that it comes down to what you want from an exchange. A highly usable and attractive interface is the number one thing for day to day but beyond that even (I won't say no 1 because it should go without saying) a site that can handle the high levels of traffic and volume we are experiencing without bugs or down time.

[FrueGreads]

I don't trade much, but I used etherdelta to sell some ERC-20 tokens and it's interface was not very intuitive, it lagged a lot, and it didn't seem to have a lot of liquidity. I'm not even talking about security, because that is not a feature, that is a must for every business, and even there etherdelta failed a bit. If it was hard for me to just sell tokens, I would say it's almost impossible for someone to actually day trade there. So a good interface, an API so that users can make trading bots, and good network are very important things in my opinion.

[GreatOrchid]

e.
Regardless i'm here to ask you guys what features would make a decentralised exchange an enjoyable experience to use, for you the traders. Obviously the main attribute of a DEX is security

Well you have already answered to your own question in there, we all are looking for only one thing, and then a few other kind of stuffs.

Security is the most important thing, BEFORE EVERYTHING, and the "privacy" and the multiple ways of payments are a secondary thing, but i think that we all are looking for a descentralized way to exchange our currencies on a dex, if we can not use a normal exchange.

The Waves DEX or the bitshares DEX are the real ones in where you can take some stuff, i am not talking about copying them, but they are good sources of information.

[Gozzy]

I don't trade much, but I used etherdelta to sell some ERC-20 tokens and it's interface was not very intuitive, it lagged a lot, and it didn't seem to have a lot of liquidity. I'm not even talking about security, because that is not a feature, that is a must for every business, and even there etherdelta failed a bit. If it was hard for me to just sell tokens, I would say it's almost impossible for someone to actually day trade there. So a good interface, an API so that users can make trading bots, and good network are very important things in my opinion.

Yeah Etherdelta is a burden, don't worry 2018 is holding many DEX births alot of which is be utilising the 0x protocol. I've decided not to use it as it's being widely incorporated but instead i'll be applying Zeeplin and Truffle together, which i think will make all the difference. Zeeplin specialises in smart contract security so it should be interesting to see what i can do, truffle make's it more pleasurable and accessible to make apps whilst integrating smart contracts.

API is noted, as bot's do bring liquidity. Bitshare's has API and is doing quite well.

Cheers for the recommendations.

[Gozzy]

I don't trade much, but I used etherdelta to sell some ERC-20 tokens and it's interface was not very intuitive, it lagged a lot, and it didn't seem to have a lot of liquidity. I'm not even talking about security, because that is not a feature, that is a must for every business, and even there etherdelta failed a bit. If it was hard for me to just sell tokens, I would say it's almost impossible for someone to actually day trade there. So a good interface, an API so that users can make trading bots, and good network are very important things in my opinion.

Yeah it's more of a threat to trader's more than everything else, no confirmation before submitting an order gets people burnt. I know it got me when i was arbitraging from ED, i was in a rush and set down the amount where the price was supposed to be and vice versa. I think i sold 1 ETH for around .001 of a cent, we must fail to learn though.

Yes security is number one, then UI and then finally liquidity.

[Gozzy]

e.
Regardless i'm here to ask you guys what features would make a decentralised exchange an enjoyable experience to use, for you the traders. Obviously the main attribute of a DEX is security

Well you have already answered to your own question in there, we all are looking for only one thing, and then a few other kind of stuffs.

Security is the most important thing, BEFORE EVERYTHING, and the "privacy" and the multiple ways of payments are a secondary thing, but i think that we all are looking for a descentralized way to exchange our currencies on a dex, if we can not use a normal exchange.

The Waves DEX or the bitshares DEX are the real ones in where you can take some stuff, i am not talking about copying them, but they are good sources of information.

Cheers for the insight will keep this in mind.

[verdi-crypto]

I think the priorities should be ease of use and number of markets. People, especially beginners, usually don't even try to understand how to use something that looks too complicated for them, even with hundreds of tutorials a couple clicks away.
Another thing is margin trading, I've been using Bitshares DEX and I think it's a very valid feature. You can also adjust your collateral at any time, which makes it even more interesting

[Memenya]

I don't trade much, but I used etherdelta to sell some ERC-20 tokens and it's interface was not very intuitive, it lagged a lot, and it didn't seem to have a lot of liquidity. I'm not even talking about security, because that is not a feature, that is a must for every business, and even there etherdelta failed a bit. If it was hard for me to just sell tokens, I would say it's almost impossible for someone to actually day trade there. So a good interface, an API so that users can make trading bots, and good network are very important things in my opinion.

All those thing you mention is very important. With api we can connect it to application so we can check it wherever and whenever we like. Of course is not number 1 feature that i prefer. I prefer more security and easy to use., because with high security the exchanger an attract more people to trade in the platform.

[hoanghoatham04]

Dear Bitcointalk,

I've only recently found my way back here, after my long journey through the market over the past year. I've taken the time to develop with no previous background of code, i'm loving every bit of it. I was developing for a coin that's found it's way in and out of the top 100 ranks, on a yearly basis. Unfortunately things didn't quite work out and i decided to decline progressing forward with the project, as I wanted to create something of my own. For the time being i've taken on some part time developing, i've been asked to develop a DEX for a upcoming project that had a successful ICO and which is being released to the market in the future.

Regardless i'm here to ask you guys what features would make a decentralised exchange an enjoyable experience to use, for you the traders. Obviously the main attribute of a DEX is security, we've all seen what's happened with Etherdelta's DNS problems. UI is also an number one it needs to be concise, clear and fluid. Some of the other problems i've been discussing with other's are gas compensation and double order's being submitted to the books. I've some other ideas i'll keep under my sleeve until release, but please do feel free to make recommendations as I really want to hear the voice of the people on this topic.

Cheers,
Gozzy 

I only care about the security of the website, the safety of my wallet. The speed of exchange and the number of people using that platform is what I would expect DEX to be able to do.

[Gozzy]

Thank you guys for your worthy insights, the development is going great. Will be rolling onto the testing phase soon, i'll make sure to take into account of all that points that you guys have provided. My one worry is gas fee's as this DEX will reside on the Ethereum network, currently brainstorming on gas compensation method's but nothing worthy has arised yet.

If anyone has any insight or ideas on the topic do hit me up, i'd love to discuss.

[Silberman]

I don't trade much, but I used etherdelta to sell some ERC-20 tokens and it's interface was not very intuitive, it lagged a lot, and it didn't seem to have a lot of liquidity. I'm not even talking about security, because that is not a feature, that is a must for every business, and even there etherdelta failed a bit. If it was hard for me to just sell tokens, I would say it's almost impossible for someone to actually day trade there. So a good interface, an API so that users can make trading bots, and good network are very important things in my opinion.

I think all of those are valid points but the decentralized exchanges I have seen do not really have a lot of coins to trade, and this is going to be critical if they want to get as many customers as they can, they offer the major coins but since they do not have a lot of users the liquidity even for the major coins is low, so we also need to community to do its part and begin to use decentralized exchanges instead of centralized exchanges.