There's a race to create a layer 2 DEX that solves the problems of existing DEX's and CEX's, and finally create an exchange where any pair can be traded- instantly, privately, securely, cheaply.
The first project that can successfully create a layer 2 interchain DEX is going to rock the crypto world. FINALLY, we will have a DEX that actually works.
With monero and other privacy coins now working on lightning network integration, and getting closer, the possibility of having direct trades between say BTC-XMR is now on the horizon. Can you imagine what this will do for the crypto world? The meme of 'be your own banker' will soon be a reality.
If you look at almost all of the existing DEX's today they all fall short of overcoming the technological inadequacies that are holding the space back. Any project that isn't actively building a solution to these problems will fade into nothing. Bancor isn't doing enough. Kyber isn't doing enough. Loopring isn't doing enough. There's only one project that is building an all encompassing solution, that already has a public beta. I've told you all exactly what that project is, but only a handful have listened and only a handful will share the immense gains.
Imagine investing in the infrastructure that will facilitate the cyberpunk crypto renaissance, and host billions of dollars worth of transactions, from the ground level.
Cameron Roberts
>There's a race to create a layer 2 DEX that solves the problems of existing DEX's and CEX's, Hence why there is a lot of fud against stakenet. Cz and co do not want you to know about xsn.
Charles Nelson
The only thing I can't get my head around with Stakenet is - why is no one else, particularly with more resources, trying to do exactly what Stakenet is trying to do? I just don't get why the big names aren't in a race to accomplish this.is it because it will be less profitable than a CEX?
This is literally an instant multi billion dollar valuation if they succeed. It might take more time than we wish but they will get there and when they do they will literally spark a defi revolution, a REAL defi revolution, not the pump and dump Ponzi fest that crypto is today.
Isaac Myers
Because what Stakenet is building requires a lot of time and effort. CEXs won't do this because they can't control it. It's far easier for them to quickly make a CEX and control user funds that way.
As for other DEXs/DEvs, stakenet is far far ahead that there is 0 chance of them ever catching up.
Jordan Flores
You hit the nail on the head already. It's a lot less profitable to create a true DEX. It's why the resources havent been put into it yet, despite it being desperately needed.
It's also a major legal/regulatory obstacle. This DEX will bring about personal financial freedom like never seen before. You can store your crypto privately and as mentioned here , if privacy coins are successfully integrated you could literally totally obscure your trading/holdings and theres nothing anyone can do about it.
Just look at how scared Binance is of their Aggregator(which will allow XSN DEX to tap into CEX liquidity)
