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Author Topic: DEX's with MILLIONS in volume, COULD make you stinking rich, here's why.  (Read 1015 times)
Marckolind
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April 25, 2020, 07:36:44 PM
 #1

Remember the hype around Kucoin and Coss? Back i 2017 we saw these 2 projects perform amazingly well due to the promise that you could take share in the revenue from the exchanges as a token holder. Pretty decent idea right?

Well, guess what. With more and more regulation coming, it will most likely soon be IMPOSSIBLE to trade, let alone open an account on any exchanges without undergoing KYC/AML first, which exposes your identity. Something A LOT of people don't like that much, as it completely removes the point of crypto to begin with.

DEX's is trustless. You don't need to trust a DEX, as you hold your own private keys at all times. You don't need to sign up, you don't need to provide any personal details, and you're never at risk of getting hacked and losing your funds.

Now, remember in the good old days, when we saw the gold rush in America. You know WHO made the most money? The guy digging for gold, or the guy selling the shovels? Take a guess....

So through DEX's you'll be able to profit off of the trading fee's IF you run a node on the network. There are several DEX's projects out there who allow this, but Blocknet is probably the most well known DEX out there.
To run a node on Blocknet you need 5000 BLOCK as collateral to host a service node. If we see any decent volume on DEX's you could potentially strike GOLD running a node, as you'd take home a fee on every trade happening on the DEX through your node.

I've seen so many decent projects being mentioned, but nobody ever seems to speculate on the future of DEX's and how much volume we could potentially see on these.
Makes me sick to see people mention the "Binance DEX" as being a trust worthy DEX, when it's NOT a DEX in the first place!  Roll Eyes

What are you guys thoughts here?  Smiley
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April 25, 2020, 11:00:02 PM
 #2

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.


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April 26, 2020, 11:51:17 AM
 #3

TL;DR.
But after looking at the bolded part, okay, I see that you're with Blocknet as it's the DEX that you're talking with millions of volume. I've seen that they have a token and this DEX has really required an installation? Educate me, anyone.



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April 27, 2020, 02:11:59 PM
 #4

TL;DR.
But after looking at the bolded part, okay, I see that you're with Blocknet as it's the DEX that you're talking with millions of volume. I've seen that they have a token and this DEX has really required an installation? Educate me, anyone.


Blocknet is just an example. There are other projects out there as well. Bisq, Komodo, Nash and the list goes on and on. Smiley
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April 27, 2020, 04:29:11 PM
 #5

TL;DR.
But after looking at the bolded part, okay, I see that you're with Blocknet as it's the DEX that you're talking with millions of volume. I've seen that they have a token and this DEX has really required an installation? Educate me, anyone.
Blocknet is just an example. There are other projects out there as well. Bisq, Komodo, Nash and the list goes on and on. Smiley
Now that you have mentioned those, I'm pretty much aware of them.  Smiley
Well anyway, why you seem to be against Binance DEX? I know they're not completely dex as per Chaopeng mentioned it on somewhere probably on his twitter post.



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April 28, 2020, 01:48:04 PM
 #6

TL;DR.
But after looking at the bolded part, okay, I see that you're with Blocknet as it's the DEX that you're talking with millions of volume. I've seen that they have a token and this DEX has really required an installation? Educate me, anyone.
Blocknet is just an example. There are other projects out there as well. Bisq, Komodo, Nash and the list goes on and on. Smiley
Now that you have mentioned those, I'm pretty much aware of them.  Smiley
Well anyway, why you seem to be against Binance DEX? I know they're not completely dex as per Chaopeng mentioned it on somewhere probably on his twitter post.

I'm against it, because it's NOT a DEX. End of story.

They are using the word "decentralized" as a buzz word for marketing, when in reality it's a very centralized exchange. Binance tried to rip off the Blocknet team back in early 2018 when they tried to apply for a Binance listing. They where asked DEX related things, which was SO out of the way that you could easily tell that Binance wanted to know how to setup their own "DEX" protocol.

It's all explained right here: https://www.youtube.com/watch?v=JSCAelH_iuk

Binance is nothing but a hype train, with stupid sheeps following them blindly.
Sure their exchange is decent, but CZ cares about NOTHING but money and power.
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April 28, 2020, 02:08:52 PM
 #7

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

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April 29, 2020, 02:19:09 PM
 #8

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley
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April 29, 2020, 02:48:02 PM
 #9



Liquidity pool and stablecoin on it is a must for these dexes to have millions in volume. There are a number of platforms that have it but we still can consider them centralized. Bisq and Block are the two that I have tried and definitely a great dex to start with. NEWDEX now has its EOSDT stablecoin which is why its gradually building volume.



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April 29, 2020, 03:44:44 PM
 #10


 As long as Dex's fail to get people trading, they are going to be just destined to doom forever, there is no way in hell you can convince people to actually trade in a place with bare minimum volume available. Which creates this weird cycle, people do not go to DEX because there is no volume, there is no volume because people do not go there, its an endless cycle until one of them is broken. Either the website gives up, or they just find a way of getting people who will overlook the volume issue.

 I say increase the affilaite income, if you give people share of the fee they can get from the people they invite, like what binance did at the beginning with %50 of the fee, you may have a bigger chance, plus always try to work with bots, bots do bring it a lot of people as well.

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April 29, 2020, 11:05:49 PM
 #11

Liquidity pool and stablecoin on it is a must for these dexes to have millions in volume. There are a number of platforms that have it but we still can consider them centralized. Bisq and Block are the two that I have tried and definitely a great dex to start with. NEWDEX now has its EOSDT stablecoin which is why its gradually building volume.

Not really a significant reason on for them to build up volume and also to think that its a bit contrary if they would really have that stablecoins?

Main reason why they dont gain that much volume because they dont have fiat pairs and the option or feature that do connect out with fiat which is

understandable which these things can really be seen only on centralized platforms.Aside when it comes to DEX then Bisq is the main place where i do much prefer.

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April 30, 2020, 01:16:45 PM
 #12


 As long as Dex's fail to get people trading, they are going to be just destined to doom forever, there is no way in hell you can convince people to actually trade in a place with bare minimum volume available. Which creates this weird cycle, people do not go to DEX because there is no volume, there is no volume because people do not go there, its an endless cycle until one of them is broken. Either the website gives up, or they just find a way of getting people who will overlook the volume issue.

 I say increase the affilaite income, if you give people share of the fee they can get from the people they invite, like what binance did at the beginning with %50 of the fee, you may have a bigger chance, plus always try to work with bots, bots do bring it a lot of people as well.

There's a reason more and more DEX's starts hitting the scene, it's because there is an actual DEMAND for them, otherwise we wouldn't see projects like Decred launching their own DEX soon, as well as Stakenet and a few others out there.

Once you'll NO LONGER be able to trade without submitting all your info, then let's see what happens to the volume of DEX's. I don't think you have any idea of how many people who actually deals with cryptocurrencies BECAUSE of privacy, don't need to look no further than the Monero and Dash communities.

Right now, you can trade up to 2 BTC's worth on Binance without submitting KYC details, but if they change that overnight like Bittrex and a ton of other exchanges, you'll for SURE see more action on the DEX's.
The idea is NOT to invest in DEX projects when they're successful, but BEFORE they reach that stage, as you could potentially strike GOLD doing so.

Owning a Blocknet node could provide you with TONS of trading fees 3-5 years from now, all you need to do is look at the bigger picture.
With that mind, Blocknet is way more than "just" a DEX. They're building their own decentralized Oracle services, and improved Infura solution, which will benefit blockchain developers, which will have an easy access to bridge between different blockchains using Blocknet's XRouter.
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April 30, 2020, 02:17:58 PM
 #13

The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.
Not so famous at all. But the construction and structure is nice. 10% gain is not a abd profit. But surely this dex needs attention and more marketing cause I just heard it from you. From all dex I think Bancor still on the league and IDEX. These two are top of most volume exchanges or yet popular but they were old testament already.

OP's topic is concern mostly on blocknet which is probably shilling or maybe his just a fan. For me, Bisq is now the most useful though the two Ive mentioned still worth to use. They say Binance Dex is good but the volume is not that great compared to its centralized exchange.
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April 30, 2020, 05:00:20 PM
 #14

You are overreacting about KYC, there will always be exchanges with either zero KYC no matter what because they will basically be opened in nations with dubious laws so they wouldn't worry about laws in other sensible nations, or there will be some sort of limit for it, like have 2 bitcoin limit on binance as an example. That is why we do not really need to focus on the DEX so much, hopefully one day they will get bigger and I would love to see it, however in case no DEX ever makes it to top, I wouldn't really be sad and I would continue to use binance anyway so no worries for me.

Dex world needs to do marketing a lot better, they are always focusing on the fact that they are decentralized and never look at anything else, they can't get big that way at all.

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pakhitheboss
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May 02, 2020, 03:05:54 AM
 #15

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

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May 02, 2020, 03:14:54 AM
 #16

Right now we are still in the phase where it's on centralized exchanges and I don't think it's going anywhere soon. When we are talking about the privacy and safety of assets, DEX is probably the best bet. For people who are not that tech-savvy, they are going to have a hard time working things out even only just by registering. I think it's going to get complicated for them. I hope that you didn't just shill Blocknet.





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May 02, 2020, 03:33:04 AM
 #17

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley
What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

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GucciBoy
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May 04, 2020, 01:15:21 PM
 #18

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

You forgot the MOST important aspect of any DEX - SECURITY. When using Binance or ANY other CEX, you're essentially TRUSTING them with YOUR funds. As soon as you send the funds over to their exchange, you are no longer the true owner. If Binance gets hacked, and can't pay the damages, you'll everything over night. I'm NOT risking that, as I play around with a huge amount of money (Been in crypto since 2013).

Not Your Keys - Not Your Crypto

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley
What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX was CENTRALIZED from the very start, which is why they where forced to implement KYC on their users. If you start a "DEX" and remain the owner, you're eligible to comply with national laws. A REAL DEX isn't owned or controlled by anyone, hence why it's decentralized

In Blocknet's case, the DEX itself is ran by masternodes, and NOT the team itself.
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May 05, 2020, 02:48:12 PM
 #19

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley

Do you really think DEX can compete with CEX?

How many DEX do you think have the highest volume and were able to deliver thier promise.

The only benefit that I see about DEzx is that you do not need to go through KYC or registration apart from that there is zero benefits.

You forgot the MOST important aspect of any DEX - SECURITY. When using Binance or ANY other CEX, you're essentially TRUSTING them with YOUR funds. As soon as you send the funds over to their exchange, you are no longer the true owner. If Binance gets hacked, and can't pay the damages, you'll everything over night. I'm NOT risking that, as I play around with a huge amount of money (Been in crypto since 2013).

Not Your Keys - Not Your Crypto

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley
What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX was CENTRALIZED from the very start, which is why they where forced to implement KYC on their users. If you start a "DEX" and remain the owner, you're eligible to comply with national laws. A REAL DEX isn't owned or controlled by anyone, hence why it's decentralized

In Blocknet's case, the DEX itself is ran by masternodes, and NOT the team itself.

I'm pretty sure Binance is getting around these laws by being based in the Cayman Islands, which is pretty sketchy when you think about it. That's probably the biggest reason why I wont use their DEX, other than the fact that it isn't really decentralized in the first place, lol.
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May 06, 2020, 03:14:54 PM
 #20

Actually I like DEX to succeed, but as of now, I haven't send a DEX that is successful.

I am not familiar with the real purpose of the coin, but the way describe it, it pretty looks promising, but my concern really is, is there a potential for DEX to grow in the future when regulation are getting stronger in the crypto space?

DEX's can't be regulated as they aren't owned by anyone, which is WHY they'll succeed over centralized exchanges that CAN be heavily regulated Smiley
What about IDEX that was changing its way to implement the KYC verification after SEC has sent subpoena to the team that was created idex?
As long as you know who's running the dex and it can be regulated too. ED and FD have gotten subpoena too from SEC.

IDEX used a setup that made them responsible for the DEX. A real DEX isn't owned or controlled by anyone. It's a peer 2 peer solution, basically no owner. You can compare it with the Internet. Imagine being asked to send in your passport to use a WIFI connection at your local McDonalds.  Cheesy
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