DEX : what features you want in it

[btcethgold]

Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.
thanks.

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[Ryan3]

Binance provides a crypto wallet for its traders, where they can store their electronic funds. Binance has its own token currency, Binance Coin.

[mk4]

Not necessarily features, because I don't think features are what so called "DEX"s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or "DEX"s are missing. I'm going to admit I haven't tried Binance's "DEX" though.

[Ucy]

Lots of things. One of the most important is having the ability to use some sort of community governance to filter out good/standardized coins to a public section of a decentralized exchange while allowing developers to permissionlessly add any kind of coin on another section of the dex.
I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this

[ryzaadit]

I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this

Lack of abuse.

The project just can be paid or doing a small airdrop task for all his community to listed their token on the exchange, so not a good option. IMO we don't need a lot feature on DEX, what we need from DEX is when we have full control of your asset comparing centralized exchange. So, as long we can fully control our asset, enough for us to use DEX when doing a trade.

[electronicash]

I think this should happen automatically as coins are reviewed and scored by users using a set of rules/standards. And they get rewarded for doing this

Lack of abuse.

The project just can be paid or doing a small airdrop task for all his community to listed their token on the exchange, so not a good option. IMO we don't need a lot feature on DEX, what we need from DEX is when we have full control of your asset comparing centralized exchange. So, as long we can fully control our asset, enough for us to use DEX when doing a trade.

for non custodial exchanges, you do have the full control of your assets. if you try using the tronlink pro wallet on your phone and try the poloni DEX, you can trade there directly with your assets still in your wallets.  this is the same thing with other platforms like in EOS. you can trade on DEX such as WhaleEx or Newdex using your scatter wallet. basically they are non custodial exchanges.

what features i would like is the mining/staking to earn other tokens. some dex already have this features.

[btc_angela]

Faster and cheaper transactions, just the basic tenants of what should a DEX should be. And course we wanted to see more coins that we can trade, perhaps margin trading could be a good addition.

[Kelvinid]

Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.
thanks.

There are a lot of benefits that we can get from any decentralized exchanges

*Low trading fees: however this will also matter of we want fast transactions or not (high fees=fast transaction) but still depending on the network traffic.
*Security: no third-party involve
*Easy to manage asset: we the one that fully controlled our wallet

But it comes into trading volume and pairs, DEX isn't good to that, and that is the reason why many investors will look into CEX even they are risking their wallet keys and prone to hacking.

[electronicash]

Faster and cheaper transactions, just the basic tenants of what should a DEX should be. And course we wanted to see more coins that we can trade, perhaps margin trading could be a good addition.

margin trading can be done already on defi exchange where they add sythetic assets. the ones you are seeing where there is iBTC and sBTC which is also paired with sUSD. i think the decentralize exchanges today are also going to be in that direction too which they may add their own for the derivatives trading. its becoming sophisticated so i hope they can thoroughly test everything before deploying their protocols.

[harizen]

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges.

No specific "special and unique feature".

Just worked on being 100% DEX as what it supposed to be - fully operational, high level of security, fewer bugs, smooth interface, etc.

Think outside the box how your DEX will catch everybody's attention to use it to somehow boost trading volume.

[sheenshane]

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges.

There's a lot of features that don't have on DEX that trader's want. First, is the limited type of orders or we can say low liquidity and volume and most commonly they dont have margin trading.

Next is the speed limit to execute orders, CEX might have a faster speed to fill an order than DEX, so probably this is the mean problem of DEX why trader prefers to use CEX rather than DEX. But for me, there are several factors that we can consider as a good benefit upon using DEX, and that is when it comes masking your privacy.

[coupable]

Not necessarily features, because I don't think features are what so called "DEX"s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or "DEX"s are missing. I'm going to admit I haven't tried Binance's "DEX" though.

I used binance's Dex few times for fast swaps. I can admit that it's fast and practical.
I remember when i first discovered cryptobridge, a dex with great caracteristics. Used it many times without any issue. I thought it was open source and that the system is running without anybody can interfer, then suddenly the platform started asking users for kyc through different levels then restrict countries before shutting down.
Decentralised exchanges should always be better in term of privacy and security but how to garante this ?

[jossiel]

I'm not a usual trader and user of DEX.

But, if there's one thing that I want to be added it won't be a DEX anymore. Anyway just like the basic added features just like anyone else want. Quick in withdrawals, responsiveness of the DEX itself. Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.

Also this,

fewer bugs

[LbtalkL]

Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.
thanks.

You mean Binance Centralized exchange? Most of DEX are the same but they lack something liquidity and good volume with a very low fees. Uniswap has good volume and liquidity but it has a huge fees, Binance DEX has very low fees almost nothing but the projects listed on it have few activity there is a little volume. Justin sun justswap seems interesting we all know that tron have low fees just like Binance chain but they have only few good projects listed on it Ethereum is still more popular. So, overall I want a dex with low fees, good volume and liquidity.

[TheUltraElite]

Binance provides a crypto wallet for its traders, where they can store their electronic funds.

Biggest mistake you can do in crypto. Never store your coins on a place where you do not have control over the private keys. But you will not learn the lesson until the day when the site gets hacked and your funds go into limbo.

Binance has its own token currency, Binance Coin.

Sure, another well-fed ponzi in the making. Keep drinking that kool-aid.

Another thing would be is that they just don't turn into a centralized exchange which will ask for KYC.

But jossie, it is either a KYC done CEX or a would-be-scam DEX always.

I would rather go with the first one because at least there are less chances of fraud. Every new DEX coming up with anonymous owners only adds in risk on trading. I do not think there is yet an argument against this.

[Cryptoababe]

Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.
thanks.

DEX has good features so far. It's not governed by any third party and the only features that can be added to a DEX is more DEX features.. Probably, there might be a DEX for margin trading later

[djmixen]

Hello Friends,

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.
thanks.

I've seen much exchange that has good features actually, but they failed only in terms of customer care or support.
The service must be true and transparent because there are some exchange is not giving the best satisfaction service to their clients. This is what I saw from a good platform like Binance and others.

[imstillthebest]

all of us do always wants to have an exchange to be the best . when I say the best it means that  the exchange must posses a high security , low to medium fees , good volume  , great costumer support and other must have features that every traders dream  and speaking of dream , it can be a dream for now because no exchange have inherit all of that and even binance that is known to be near perfect exchange  still do experience an abnormalities.

[Insanerman]

Not necessarily features, because I don't think features are what so called ""DEX""s are missing. It's the consistency and speed is what custodial exchanges have, and non-custodial or ""DEX""s are missing. I'm going to admit I haven't tried Binance's ""DEX"" though.

Indeed, DEX platforms nowadays already had so many features yet still encounters problem with speed and transaction failures. Meanwhile, some DEX doesn't support this wallet and doesn't support this system. And maybe, if ever that the OP and his idea on a project would happen, he might consider taking all of other DEX's shortcomings and be his project's advantage.

If there is a DEX to be developed from scratch then what features will you want in it,  which is not in other exchanges. How this DEX can be made work like binance.

Therefore we only want both consistency and speed with your DEX project.

[cabron]

The defi exchanges are already in existence I think they are already perfect because they don't ask KYC and only protocols that work in all transactions. The only feature I guess that is needed here is to make it available for bank transactions like BTC or ETH cashout where USD will go to the bank account or going to PayPal account. If this feature will be added, there could be no users going to major CEX.