WAVES Dex + Ethereum Tokens

[rosezionjohn]

What do you guys think of this move by Waves Dex adding ethereum tokens to be traded into their exchange?

On a development standpoint, I think it is good since traders would want to have an all in one DEX.
I also think this move was done to bring in more liquidity because the team realized that they can never beat Dex's that trades ethereum tokens.

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[Scheede]

Well, I don´t see how this move can be bad for Waves.

And it seems also the Waves team does not have bad feelings about it as it seems

Waves DEX will receive a new wave of traders and assets that will affect positively on WAVES and other listed tokens. Soon, you will see new trading pairs with ERC-20 tokens.

Anyway it looks like Bancor (BNT) is the 1st token to be added, which took quite a while. Seeing ETH to follow and than gradually more tokens to be added.

Lets see how (fast) that goes and how (if) the WVS-price reacts on it.

[Zicadis]

Well, I don´t see how this move can be bad for Waves.

And it seems also the Waves team does not have bad feelings about it as it seems

Waves DEX will receive a new wave of traders and assets that will affect positively on WAVES and other listed tokens. Soon, you will see new trading pairs with ERC-20 tokens.

Anyway it looks like Bancor (BNT) is the 1st token to be added, which took quite a while. Seeing ETH to follow and than gradually more tokens to be added.

Lets see how (fast) that goes and how (if) the WVS-price reacts on it.

Sheesh! talk about a dead cat bouncing!
There is literally no interest in waves anymore. It is like that distant ripoff of the Ethereum blockchain that no one even talks about. And I wonder how they are plugging in these tokens to their internal ecosystem. As far as I know, they manually approve every entry and exit of Bitcoins from their ecosystem. Have they come up with some kind of automated solution to accept the ETH tokens into their internal exchange and wallet ecosystem?

[Distinctin]

Good for Waves Dex, maybe they are trying this kind of strategy to increase the volume of their DEX and actually Waves Dex is not popular like IDEX or other DEX that traded with ETH tokens, hopefully this will bring a positive effect as it's not only gonna help the ETH tokens to grow but for the waves tokens as well which does not really perform well compared to ETH tokens int he past.

[legendster]

Well, I don´t see how this move can be bad for Waves.

And it seems also the Waves team does not have bad feelings about it as it seems

Waves DEX will receive a new wave of traders and assets that will affect positively on WAVES and other listed tokens. Soon, you will see new trading pairs with ERC-20 tokens.

Anyway it looks like Bancor (BNT) is the 1st token to be added, which took quite a while. Seeing ETH to follow and than gradually more tokens to be added.

Lets see how (fast) that goes and how (if) the WVS-price reacts on it.

Sheesh! talk about a dead cat bouncing!
There is literally no interest in waves anymore. It is like that distant ripoff of the Ethereum blockchain that no one even talks about. And I wonder how they are plugging in these tokens to their internal ecosystem. As far as I know, they manually approve every entry and exit of Bitcoins from their ecosystem. Have they come up with some kind of automated solution to accept the ETH tokens into their internal exchange and wallet ecosystem?

Umm yeah, I can attest to this Zica..

I remember having a token on their platform that I received from a project's ICO. Once I cashed it out I learned about the whole thing. Basically they match a 1:1 representation of Bitcoin within their network. This must be a chore for them and rightly so bottlenecks the withdrawal process of BTC from their ecosystem.

And no it is not automated, which makes it all the more painful as you are left to your own wits to sit and wonder if this is the straw that breaks the camel's back, if they THIS is the moment that Waves platform turns out to be a scam project and they run with your money. All baseless fear stuff that you mind conjures up you know.

IN anycae, I'm interested to know if waves would actually allow their own tokens to come into the Ethereum blockchain - if that happens, then they'll surely clog up the ETH channels once again and overload the Ethereum blockchain like Cryptokitties did.

[Zicadis]

Well, I don´t see how this move can be bad for Waves.

And it seems also the Waves team does not have bad feelings about it as it seems

Waves DEX will receive a new wave of traders and assets that will affect positively on WAVES and other listed tokens. Soon, you will see new trading pairs with ERC-20 tokens.

Anyway it looks like Bancor (BNT) is the 1st token to be added, which took quite a while. Seeing ETH to follow and than gradually more tokens to be added.

Lets see how (fast) that goes and how (if) the WVS-price reacts on it.

Sheesh! talk about a dead cat bouncing!
There is literally no interest in waves anymore. It is like that distant ripoff of the Ethereum blockchain that no one even talks about. And I wonder how they are plugging in these tokens to their internal ecosystem. As far as I know, they manually approve every entry and exit of Bitcoins from their ecosystem. Have they come up with some kind of automated solution to accept the ETH tokens into their internal exchange and wallet ecosystem?

Umm yeah, I can attest to this Zica..

I remember having a token on their platform that I received from a project's ICO. Once I cashed it out I learned about the whole thing. Basically they match a 1:1 representation of Bitcoin within their network. This must be a chore for them and rightly so bottlenecks the withdrawal process of BTC from their ecosystem.

And no it is not automated, which makes it all the more painful as you are left to your own wits to sit and wonder if this is the straw that breaks the camel's back, if they THIS is the moment that Waves platform turns out to be a scam project and they run with your money. All baseless fear stuff that you mind conjures up you know.

IN anycae, I'm interested to know if waves would actually allow their own tokens to come into the Ethereum blockchain - if that happens, then they'll surely clog up the ETH channels once again and overload the Ethereum blockchain like Cryptokitties did.

That is a valid concern I'd say. Although I am not sure I have heard of any such plans to bring the waves tokens on Ethereum blockchain. That would also beat the purpose of having a separate platform or ecosystem or whatever Waves is. Despite all the criticism Waves receives, it has still maintained its price above $1 - which isn't bad for an Ethereym rip off. Although I would personally never invest in waves or any of its tokens. Even if it was given for free.

[ahmadakbari]

This indicates the failure of Waves project. One of the Waves team purpose was to compete with Ethereum. I remember some topic here in bitcointalk discussing whether waves is able to defeat and replace Ethereum or not. Now the answer of such questions has become clear. Waves platform couldn't attract ICOs to use its blockchain and almost all of the ICOs used Ethereum blockchain. Now the trade volume is very very low on waves Dex and they are adding Ethereum ERC20 tokens. I personally don't think they can attract traders as there are already some platforms for trading Ethereum ERC20 tokens. Unless they add some especial features to the exchange. Generally, I don't think Waves platform can manage to attract new traders. Waves Dex is now a failed project.

[Darker45]

What do you guys think of this move by Waves Dex adding ethereum tokens to be traded into their exchange?

On a development standpoint, I think it is good since traders would want to have an all in one DEX.
I also think this move was done to bring in more liquidity because the team realized that they can never beat Dex's that trades ethereum tokens.

Waves DEX has to adjust at some point. That is, if they want to continue with their goal of establishing a functioning DEX. They will have to admit that somehow they are defeated. Waves originally envisioned a DEX where tokens created on the Waves blockchain will be traded smoothly. The problem is that Waves-based tokens are dying one after another. Crypto projects built on Waves' platform proved to be short-lived. Consequently, volumes have turned from the minimal to zero. They will have to do something. Otherwise, the DEX will die. Admitting ERC20 tokens is the best way to go.

Although this appears to be a sort of defeat to the original plan of Waves, this might actually be the silver bullet to revive their DEX.   

[2double0]

I was once a fan of Waves DEX but later, I realized that there is not enough volume to get even my tokens sold and if I wish to buy, I couldn't buy because the price margins were set really high 'like if price of an apple is $1, you are not selling it for less than $200'. I was amazed of the type of security they gave and wanted ETH based tokens traded over there so it's definitely like a dream come true because it will also grab us some extra chance of selling our old tokens again.

[Scheede]

I was once a fan of Waves DEX but later, I realized that there is not enough volume to get even my tokens sold and if I wish to buy, I couldn't buy because the price margins were set really high 'like if price of an apple is $1, you are not selling it for less than $200'. I was amazed of the type of security they gave and wanted ETH based tokens traded over there so it's definitely like a dream come true because it will also grab us some extra chance of selling our old tokens again.

I don´t fully understand what you mean if you say "tokens" that you could not sell, obviously not speaking about Waves ($WVS) but some shitcoins, or?

If so, I doubt you (we) will be lucky here, since Waves DEX will not add everything, but start with BNB and ETH, and possibly adding further (bigger) tokens.

[Bttzed03]

It is pretty much an admission from Waves Dex that they needed to support other blockchains (ethereum in this case) to reignite their exchange. Waves blockchain may be better but they haven't really reached the popularity of ethereun despite all its scalability issues.

[Docnaster]

It is pretty much an admission from Waves Dex that they needed to support other blockchains (ethereum in this case) to reignite their exchange. Waves blockchain may be better but they haven't really reached the popularity of ethereun despite all its scalability issues.

Yeah its a dying project. I don't think or believe that they should exist.
Can any one of us even say what made WAVES unique? Cheap token creation? Or what? I don't even remember. Complete waste of space, money and attention if you ask me.

[ahmadakbari]

Can any one of us even say what made WAVES unique? Cheap token creation? Or what? I don't even remember. Complete waste of space, money and attention if you ask me.

Waves initial purposes were solve the scalability problem and provide faster and cheaper transactions. The main goals were creating a decentralized exchange with high trade volume and big number of traders and becoming a trustworthy platform for ICOs. Waves didn't reach the success I personally expected. They couldn't attract ICOs and Ethereum has been always the first choice of ICOs. Now, with adding ERC20 tokens, they are admitting that the exchange has been also failed.

[Darker45]

Can any one of us even say what made WAVES unique? Cheap token creation? Or what? I don't even remember. Complete waste of space, money and attention if you ask me.

Waves initial purposes were solve the scalability problem and provide faster and cheaper transactions. The main goals were creating a decentralized exchange with high trade volume and big number of traders and becoming a trustworthy platform for ICOs. Waves didn't reach the success I personally expected. They couldn't attract ICOs and Ethereum has been always the first choice of ICOs. Now, with adding ERC20 tokens, they are admitting that the exchange has been also failed.

During the height of ICOs, Waves actually started to gain pace. There was a huge influx of crypto startups and Waves was able to take a nice piece of the pie when they offered themselves to the ICO market as a much cheaper alternative. I can still remember a number of projects built on the Waves platform. But for some reason, it was not sustained.

The same happens to their DEX. There was a good start and then updates were released that users are fast rising. But then before we knew it, the DEX has lost its momentum and was already sliding all the way down. And now comes the resuscitation process. ETH might keep Waves alive. Funny how the competition ended this way. 

[Strongkored]

What do you guys think of this move by Waves Dex adding ethereum tokens to be traded into their exchange?

On a development standpoint, I think it is good since traders would want to have an all in one DEX.
I also think this move was done to bring in more liquidity because the team realized that they can never beat Dex's that trades ethereum tokens.

I agree with your opinion that WAVES DEX is very difficult to compete with DEX that trades Ethereum tokens, and I see that not many will use WAVES DEX because traders will prefer to use DEX which is commonly used because it involves trading volume. WAVES is very slow in its development which is why they are unable to compete with ETH and this is affect about their DEX.

[joniboini]

It's quite ironic that to keep going on, you need to 'support' your competitors.

They should improve their code and make Waves become a suitable alternative for other blockchains instead of looking for liquidity from their competitors.

[2double0]

....

I don´t fully understand what you mean if you say "tokens" that you could not sell, obviously not speaking about Waves ($WVS) but some shitcoins, or?

You can call them shitcoins yeah because since the volume went from being at least 1 BTC a day worth traded daily to almost 0, I lost the opportunity to gain through the projects I was involved in, which worked under the Waves platform conditions. It didn't play out well and I lost almost BTC1.54 due to that 'as I am having tokens which were worth that amount during 2017'.

If so, I doubt you (we) will be lucky here, since Waves DEX will not add everything, but start with BNB and ETH, and possibly adding further (bigger) tokens.

I'm also unsure about the possibilities of getting these tokens sold because the audience that will enter this DEX will mainly go for ETH 'and I don't think they will add BNB as it is Binance's native coin and I have not seen any exchange doing that ever'.

[Docnaster]

You can call them shitcoins yeah because since the volume went from being at least 1 BTC a day worth traded daily to almost 0, I lost the opportunity to gain through the projects I was involved in, which worked under the Waves platform conditions. It didn't play out well and I lost almost BTC1.54 due to that 'as I am having tokens which were worth that amount during 2017'.

1.54 bitcoins back in 2017/18 was more than $30k
That is a huge amount of money to lose in cryptos, that too altcoins. How are you doing financially now?
I think this question is off topic but I could not hold back my curiosity to ask.
Since I have been through the same. But with a different number.