Exchanges are an important part of the blockchain ecosystem. They interact directly with users and therefore change as the market environment and user needs change.
This year, we witnessed the emergence of a large number of exchanges, followed by some new "plays." In the first interview of the Babbitt community, SheKnows specially planned the exchange on August 19 and August 20 to discuss the current competitive landscape and future development of the exchange.
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On the first day of the exchange's special session, we invited the matcha image spokesperson Yuzhu, imToken business growth leader Lucas and Bibox vice president Xiang Dan, the theme is "exchange soul torture: I speak for myself", edited by Babbitt Tang Xialing Hosted.
Special Note: This live broadcast has not been commercialized. Babbitt is a third-party media focus on the development of the exchange. Babbitt only provides a communication platform and does not make any endorsements and investment advice. Please rationally distinguish and treat scientifically.
How to upgrade the exchange play, what is the future competition pattern?
Tang Xia Ling: The number of users on the old exchanges is large and the potential is high; the new exchange will do things. What do you think of the market competition pattern of the current exchange?
Xiang Dan: First of all, the cryptocurrency exchange track is still very early, far from a stable pattern, everyone has the opportunity to become the boss, and is not limited to the existing circle. As long as you dare to innovate and bring more and more significant value to the industry and users, there is a possibility that some of the emerging trading platforms this year are examples.
Secondly, the security, stability, and smooth experience of the product is the bottom line, and high-quality encryption assets are the weapon.
Furthermore, the global compliance line is the courage to sustain development. In order to develop in the long run, we must adhere to the global compliance route. Tang Xia Ling: Recently, the exchange's derivative play is also constantly updated. What do you think about the development of the exchange's derivatives market and competition?
Xiang Dan: This is a very good phenomenon. I think that for the traditional financial market, the derivatives of the encryption market are far from enough, so more innovative derivatives are needed. These derivatives need to rely on the experience of traditional financial markets. And the lessons, on the other hand, need to meet the characteristics and characteristics of the encryption market, and can not be copied blindly. In particular, we hope to see the emergence of innovative financial derivatives in the encryption market, in order to promote the industry's diversification.
Tang Xia Ling: There have been many super exchanges this year, and the market does not seem to need so many exchanges. What do you think about the current and future exchanges?
Yuzhu: In fact, there are so many friends in the platform track that the market is recovering. We welcome more excellent friends to enter this track. The market is still at a very early stage. From the experience of the traditional financial industry, There are also many fine-grained services waiting to be developed. We believe that if we develop together and make progress together, we can truly bring prosperity to the industry.
DEX Aspect: Pseudo-demand or true innovation?
Tang Xia Ling: DEX (Decentralized Exchange) has a small user base and a high trading threshold. Many people think that DEX is currently a pseudo-demand. How do you think about this problem? Is DEX really the future development trend?
Lucas: We certainly think that DEX is not a pseudo-demand. The volume of transactions and the number of users who have integrated DEX in the past six months have increased steadily by more than three times. However, compared to traditional centralized transactions, the experience of decentralized transactions is very different. Users need to be encouraged to learn and try. Tokenlon is trying to encourage users to experience decentralized transactions and lower the threshold for users to use DEX.
We believe that DEX will be the future trend, but DEX will catch up with the centralization transaction as a marathon, not a 100-meter sprint, and it needs to cooperate with the iteration of technology to create a better user trading experience. In the long run, after all, than the centralized exchange, DEX is a safer and more transparent trading process is an absolute advantage. Tang Xia Ling: At present, the decentralized exchanges on various public chains are closed, they can only trade their own public chain tokens, and can not achieve true decentralized cross-chain transactions. Many DEX choose to issue gateway assets to realize different tokens. Transaction. Will Tokenlon adopt this method in the future? How far are we from real decentralized cross-chain transactions?
Lucas: The EOS and ATOM exchanges currently supported on Tokenlon use a similar model, but the user is not. We have been exploring some practical ways to enhance the user's trading experience.
At present, it is at least half a year from the real decentralized cross-chain transaction, and it depends on the advancement of some cross-chain projects. Even if the decentralized cross-chain is completed, it is also a problem to use this cross-chain technology to provide users with a good cross-chain trading experience. This is why we are currently exploring some practical ways to do cross-chain exchange. Tang Xialing: The performance of Ethereum is still relatively poor. At present, it is impossible to put the trade-in on the chain, and there is no way to achieve a true decentralized transaction. Why insist on doing DEX on Ethereum?
Lucas: In putting the deal on the chain, we feel that it is not absolutely necessary for the decentralized transaction. We use the 0x protocol, the chain is combined, and the chain is cleared, which makes the market maker efficient. Quotes, while ensuring that users are still in control of their assets at the exchange.
Starting DEX at Ethereum is based on the three advantages of Ethereum:
- 1) High degree of security and decentralization
- 2) There are more quality assets
- 3) Have a good DeFi ecology (potential liquidity needs)
Regarding other high-performance chains, some projects have actually tried, but the effect is not very good. Mainly due to security and lack of quality assets, the user's own trading needs are not high. So we choose to start with the most mature Ethereum.