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Agorex-io / Proposals

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Ideas for unique valuable features of a decentralized exchange #4

Open activescott opened 6 years ago

activescott commented 6 years ago

I'd like to collect some ideas from the community on what would make a decentralized exchange like Agorex uniquely valuable to users. Some ideas I have are below, but most importantly, I want to get suggestions from the community, so please comment and add your ideas.

  1. Secure: Never ask a user for their private keys. Always require using Ledger/Trezor/Metamask, etc. Personally, I find it insane that someone would upload their private keys to any code with access to the internet. The ability to keep your own private keys private is a fundamental value of decentralized cryptocurrency and blockchain technology and exchanges are where this unique value of the platform of crypto/blockchain is especially valuable. So why not encourage and leverage it?

  2. Community Run: A community-driven exchange, where the organization exists for the community and an open proposal process that allows the community to officially direct the exchange's decisions is built into our bylaws of the organization. I love CoZ's statement The community is free to choose its own targets and objectives. ❤️

  3. Advanced Smart Contract for trading that is absolutely decentralized and can be traded with by anyone on any exchange. It is also upgradable transparently so that we can iterate on the smart contract and users of the contract are not impacted.

  4. A market order experience.

  5. Make sure that on-book orders that already have a pending trade (but not accepted in a block) are either no longer visible or the fact that their a pending trade on that order is about to execute in the next block is visible.

  6. Zero-fee trading.

Which of these ideas do you find most compelling as a user of decentralized exchanges?

What are your ideas? What else can we do to put security, trust, and safety first for our users?

rowmagnon commented 6 years ago

I like all of these points. Transparency, to an extent, is very important, I believe.

In terms of security, we can implement compulsory 2FA for all users.