Hi! I'm a Filipino-American working in crypto in NYC.
Just to set up some foundation knowledge:
I specifically work for an up and coming ETH + ERC20 decentralized exchange (DEX), meaning that all trading is done wallet-to-wallet. This is as opposed to a centralized exchange *owning* your tokens and trading on your behalf.
Because users manage their own tokens on MetaMask or Ledger, there are some benefits to trading on this infrastructure:
- No withdrawal/deposit fees
- No withdrawal limits
- No risk of exchange hacks (i.e. Bithumb, Coinrail, Mt. Gox)
- No risk of frozen funds due to suspensions or downtimes
This is thanks to decentralized protocols which provide the "superhighway" for tokens to trustlessly travel on. Decentralized exchanges utilize these protocols to provide the order book for people to buy & sell on.
However, knowledge of these protocols and the DEXs which use them is very limited at the moment due to their newness. I just wanted to post here to gauge the community's awareness of this emerging infrastructure. Any advice for marketing DEXs specifically to the Philippines would be greatly appreciated!
Ex. Just from reading some threads, it seems "scaminess" seems to be an issue. While our platform is not out yet, we submitted our application to the U.S. SEC to be a regulated alternative trading system. Part of this application includes due-diligence on only including tokens that meet rigorous standards.
Some popular decentralized exchanges:
- Airswap
- Radar Relay
- IDEX
- Waves
Some resources for learning (and which also list some drawbacks):
https://blog.0xproject.com/a-beginners-guide-to-0x-81d30298a5e0https://hackernoon.com/understanding-decentralized-exchanges-51b70ed3fe67https://medium.com/@mansiprakash/ecosystem-of-decentralized-exchanges-88ba89f10d64
