Hey, everyone! What characteristics are you looking for in a DEX that could make you choose them over CEXs? ChainFlip has a vision for this and is working towards offering a user experience similar to CEXs, with its advantages, while keeping the core values of decentralization.
In this clip:
- Aligning the UX with CEXs
- $100 million trading volume per day goal
- Improving efficiency in cross-chain swaps
- Pricing, speed, and security to attract traders
Centralized exchanges have had the upper hand in user experience, due to their speed, numerous options, and the familiarity users have with their interfaces. ChainFlip aims to deliver a competitive experience by enhancing its speed and pricing and by creating a new interface that offers a similar environment to CEXs.
To attract traders, you must offer the best pricing, speed, security, and user experience. If traders are accustomed to CEXs, the closer you get to replicating that experience, the more likely they are to choose the decentralized option. ChainFlip includes this in their vision, with a goal of reaching $100 million in trading volume per day. The product needs to be tested live and refined to achieve this goal, but there is no reason it cannot happen, the sky's the limit.
Check out this conversation with Simon Harman on ChainChatter to learn more about how ChainFlip is working towards giving CEXs a run for their money.