While we know xExchange is working on limit orders and i hope a “potentially” more professional version of the exchange for traders only (with charts and many other tools like stop loss take profits, etc …), i think what could be a really nice next step after those blocks are implemented is a social trading hub, where you can battle between users, develop your level through a layer of gamification (like on xportal) and learning/testing xExchange by doing little related quests.
Also, while i don’t think leverage trading will ever interest normal users, a perpetual solution like what ashswap is currently building is still a must in any DEX because it provide another tool for experienced traders and also helps scale and make the protocol more sustainable long term with a new influx of fees.
Just for example : i’ve taken a protocol on another chain where they implemented a perp exchange (TVL of this protocol is around almost the same of xExchange and has classic pools and exchange)
See for yourself on DEFI Llama
The perpetual implemented (wich is now with 0 funding rates (see it like with a discounted fee to bootstrap the perp)) is already producing a steady revenu for the protocol.
Of course all of this will only be available in an eventual pro version with heavy disclaimers and make users (degens mostly) do their own research before allowing any use of those solutions (because yeah trading is risky as hell especially in crypto).
What do you think about all of those proposals ?
Just another way to help revenu of xExchange and create a more healthy and sustainable future for xMex holders and xExchange believers
Thank you very much @angie44120 for the suggestion!
What is the name of this protocol?
What are the features of the social part?
The name of the protocol is THENA, it’s a recent DEX on BSC chain launched in january 2023,
This dex is a ve(3:3) model,
They are planning to launch a trading hub where you can engage the community in trading competitions and other events.
For now little has leaked since it’s not yet released but could look like this :
Also while waiting this social core hub they have opened a zealy competition to permit users to engage and promote the DEX and they give 2000 $ in their TOKEN every sprint (14 days) for the top 33 users who have earned the most XP points,
Many new dexs are forking the ve(3:3) model on new chains and they have almost all implemented a zealy competition like them to empower users and make them promote the dex while earning their fair share.
To me this is a good thing because they held on quite strongly in this bearmarket and managed to really make their model sustainable, they’re clearly just missing adoption.
A medium article dived deeper in to this you can check it out here :
I think xExchange could explore what can be done with those solutions and make we the users use the DEX more and more by organizing competitions and promote xExchange to new users with writing threads on X or other social media.
That is all for me hope xExchange will thrive, because while i’m seeing their work as a good way to improve adoption, the underlying chain is still greatly inferior to MultiversX and when adoption kicks in next bullrun and gas fees are as high as the sky don’t get fooled, people will explore cheaper chains like MultiversX and i’m clearly hoping we will be ready for this wave and onboard as many people as we can.
Good day to all !
Thanks a lot @angie44120 for all this information! Very interesting!
Just pushing up this thread at the top again because pancake swap (1st dex on BSC chain (Binance) with 3 billion $ TVL) just announced moving to the ve(3,3) model introduced above.
I think xExchange should inspire from this and push new modules after the V3 is live (with gauges and governance with xMEX to vote where should incentives be allocated).
I think xExchange can improve even more this model by applying some others modules in the future (single staking vaults i’ll write something on this), hub quests (gamification) and competition events with rewards.
Good day to all.