What does everyone think will be the main USP of the winning DEX on Radix?
With Scrypto making it so easy to develop a DEX and presumably there being a DEX component being available very soon after Babylon is released it will make it very easy for there to be many DEXs on Radix.
What could be the USP that allows a market leader to emerge?
OCI is obviously the most well known now and that means that it has a lot of value for it’s token already which then allows liquidity mining incentives to be very valuable. If OCI can then get the most liquidity it should become the market leader.
Or will fees be super important? Or some other innovation such as DeFi Plaza’s technology?
Interested to know what others think as the top DEX on Radix is sure to be a good investment
This is one of the questions in my head as well. Same applies to NFT marketplaces I think.
There are gonna be some necessary features but on top of that liquidity will be the #1 factor to decide which one will take the first place.
Implementing limit orders or such things could also play a huge part, since thats not really an easy feature. But who knows how scrypto changes the complexity of things in this corner.
Limit orders would be very nice! Some lucky individual got a bargain of a lifetime at the unlock dump due to using a limit order service on ETH - but paid a lot of gas for it too!
I’m hopeful that the current DEXs developing will have lots of new features as it doesn’t seem like it would take long to develop a basic function AMM
I remember listening to Jazzer’s DeFi Download episode and he talked about how on eth it’s hard to develop new features that you have ideas of because gas is so expensive that it’s uneconomical to implement. So DeFi Plaza for example should have some new features enabled by cheaper has on Radix
Our main goal is to become the default dex on Radix. We have some potential long term features like futures, order books, limit orders and stuff like that. However, this will probably rather be a separate section, because we want to keep the main interface simple and clean.
In general, I am currently exploring different options regarding reducing impermanent loss, on-ledger multi pool routing or token mechanics and incentives. But Babylon is roughly a year away and a lot depends on the Babylon fee model which isn’t announced yet (because Babylon isn’t implemented yet).
Also I am exploring protocol owned liquidity. The reward mechanism is different, instead of staking LP tokens the protocol is buying the LP tokens at a premium (giving LP providers a discount). The advantage is that the protocol then owns the liquidity, because with basic liquidity mining you often have the problem that people farm the rewards, dump them and then remove their liquidity afterwards.
However, in both cases people start by adding tokens to the pool. Only the second step regarding rewards is different.
DeFi is moving fast and a year is a long time to commit to a specific feature set (not even talking about long term roadmap 2 years away)
Babylon is coming late 2022 probably. So we are just very early and now is the time for experimentations and exploring the capabilities of Scrypto.
I think for a dapp user on Radix there are multiple implicit advantages, smart contracts and tokens are much more safe, fees are cheap, transactions are fast without any scalability issue and finality is low.
So far so good, what I think will be a really cool feature for users which developers can use is atomic composability from the frontend. Your dapp can compose ad-hoc different transactions together (even your wallet could do it if the dapp doesn’t support it). This opens the path to countless opportunities, like you could take out a flash loan to arbitrage a pool - all from your dapp - no smart contracts needed.
In general Ociswap will be a pair wise dex with a mechanism to incentive liquidity providing. However, a lot can happen until Babylon and we can’t commit a year in advance to a certain mechanism like liquidity mining (though the general tokenomics don’t change, 60% will be used for liquidity rewards some way or another)
I hadn’t seen that from the Roadmap before - but that is good to hear that they are incorporating those more advanced features. I imagine we would see those kind of things on ETH already if gas wasn’t so expensive!
I see OCI as ahead currently as well.
Unless they fail to deliver right away as soon as smart contracts come live, I think they have a really good shot at beeing the go-to DEX on Radix.
I have quite some faith in the @ociswap leaders. Everything I read so far seems like they know what they do and are dedicated to this project!
If it had happened at ETH we probably wouldn’t have made it to radix today, and that’s a great innovation I’m waiting for. by forgetting dex with liquidty pool classic with novelty.
@ociswap is really amazing considering someone in his team is nicknamed “Blockchain killer” with all his amazing reviews and knowledge, it might be very easy for oci to be at a new level in the DEX platform.
Well I am bullish on both, Oci I think has the community has decided that Oci is the main dex, but I also know Jazza is very respected in the community and I had a discussion one with him about another dex called behodler , diplazza is actually semi based on behodler.
He knows alot about dexs so I also think that defi plazza is going to be great I am invested in both but more oci.
