After the FTX crash, DEXs could be poised to take over the crypto space, as users are failing to trust CEXs [AD]
following the FTX crash, DEX tokens saw a 24% uptick, and CEX tokens saw a 2% decline.
While offering users more convenience when transferring or swapping tokens, centralized exchange wallets are decidedly less secure than non-custodial storage solutions. DEXs offer their users flexibility when it comes to storing their crypto tokens and do not rely on their user’s crypto holdings to generate revenue or indulge in secondary transactions.
This threat can be subverted only by shifting away from the AMM model and adopting a more advanced order book model that can facilitate the easy implementation of an on-chain smart contracts system. While a few players like dYdX and EtherDelta have achieved this to some extent, they come with associated trade-offs that need to be eliminated.is the first order book trading protocol that runs entirely on-chain.
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