Suggestions for waves team to make dex a better platform


#1

Suggestions

1-Liquidity
Right now the liquidity service is based on wash-trading and it is totally wrong. The service buys and sells totally by itself without any reference to technical analysis. Liquidity means fair prices, stability, quickness (which is one of Waves’ trade mark compared to other platforms) and susceptible to technical analysis. For starters, Waves team should provide liquidity especially on BTC pairs, using arbitrage bots to follow the market prices. Following that, liquidity service should buy a seller’s BTC immediately and sell those BTC in other exchanges to provide fiat currency to the platform. Using the same principle, the existing gateway coins like ethereum, dash, ltc and xmr should be liquid in order to increase DEX volume in order to compete with current centralized exchanges and future decentralised exchanges.

2- ICOs
All ICOs performing under Waves Platform should be supported with liquidity and volume support without any cost. Almost every ICO has failed in terms of volume and price, i.e. Simdaq, OCL, Anryze, Mgo, Tracknet and last of Tradingene. Every failed ICO in that terms, affects the following ICO’s price and sales performance. With a failed market performance of the older ones, new ICOs and investors will run away from Waves Platform. ICOs; should not be traded in the DEX unless they have their products, high performing community or a market volume; or if they will be traded they must have a liquidity support.

3-Gateways
Waves team should provide gateways for high volume coins and they should announce these all at once, not one by one and with huge time delays as it was done before. Currently, Ethereum, LTC, ZEC, DASH and XMR have gateways but they had time gaps between each other which caused a lack of interest and resulted with very few traders. As an example, when Ethereum was added to the platform, but without any trade alternatives with other coins it is almost impossible to attract any traders to DEX. Trader would want to trade ethereum with dash or xmr, but with the current time delay between these gateways traders prefer centralized exchanges.
For this reason, EOS, TRON, ADA, XLM, NEO and maybe BNB should be added to the platform immediately. These gateways should be functional at the exact same moment or maybe at the same week so that platform can attract traders.
For other gateways and coins, voting can be done within this forum; resulting with a frequently used forum. Votings can be done once in a month and for 2 coins. Voters can buy 1 wct for votes and send to the team’s address and the WCTs collected can be used bounties later.
Besides that, other coins that wants to get listed in DEX can be asked to buy a certain amount of Waves and this income can provide funding for the team.
4- Trading Competitions

Waves team used airdrops for PR but these airdrops are no good for anyone. Instead of distributing airdrops, if the traders were rewarded with bounties, the previous 2 topics would be obsolete. Waves team should get a deal with the miners asap and start doing these competitions. For rewards, BTC, BCC and WAVES and later MRT and WCT can be distributed. For example, to create a volume for an ICO, team can distribute BTC for the first month, BCC for the second and WAVES, MRT and WCT for the following 3 months. This will result with a sustainable amount of volume for the ICO token and the distributed tokens. Trading will also cause the tx number to increase and therefore the miners rewards will be affected positively.


#2

These ideas are all important and must be paid attention. Otherwise Waves and DEX will lose its chance to compete with other platforms especially Binance is also building its own hybrid exchange.


#3

I hope team will read this and take action. That’s the what investors want.


#4

Thanks, we have read this and mostly agree.


#5

how mostly and when you take actıons about these thıngs?


#6

Excellent points, I hope the devs listen to this and actually finally start spending some of them 20+k Bitcoin for the good of Waves.


#7

I agree.
They should have used market making services to fulfill markets (and the entire exchange) with liquidity. How it works:


#8

Is there any plan in the future to add a function in the platform that will allow a user to select a asset from your portfolio and it will take you to the dex to trade that asset?


#9

It is already present.


#10

It is for some assets but not all assets.


#11

Right now this button is available for all gateway tokens and tokens that were issued by you.
This decision was made to protect users from accidental selling spam tokens on DEX.
Since spam tokens are hiding is spam folder and token burn feature is available we will consider reworking this function.


#12

I like this solution.

hmm i think it is perfect now.


#13

How far can the community track a hacker on this channel … money is transfered to 3PQ8Y9yGgjnNB2yfDpEya1B7hJoofqWqP2m … address is comming from http://WBCH.xyz/ Before others are hacked too…


#14

I agree that thing can be improved. I agree at point that waves could provide some liquidity support for the ICO projects. But better would be to create some incentive program wich would reward community for doing that. About the gateways, I think they are obsolete and DEX should be DEX, so we should focus on atomic swaps. I would create ASPA atomic swaps for ERC20 and NEP5 tokens. That would atract a lot of traders I think.