Here is Our Review of Decentralised Exchanges Built on 0x
By: Febin John James
Tags: Bitcoin, Cryptocurrency, Innovation, Technology, Ethereum

You have to select the token pairs, specify the amount you want to buy/sell to create your order. You can specify a time limit to your order after which the order expires. It provides with candlesticks, order book, etc like most exchanges.

ERC dEX has a strict verification process to list tokens, this measure will protect traders to a certain extent. They also have taken certain measures and initiatives to promote high liquidity. However, our order on ERC dEX took a few days to fill.

They have built a trading toolkit called Aqueduct, it provides APIs developers can use to automate trading. They also have a flexible program that incentivizes partners who can promise them liquidity.

They also have a market-maker program which traders with no coding experience can use to automate trading and backtest strategies. When compared to other decentralized exchanges, ERC dEX has put in more efforts to ensure liquidity.

ERC dEX is built by a strong team with great industry experience. The CEO, David Aktary has worked with companies like IBM, JP Morgan, etc. The CTO, Luke Autry was part of Sharefile which was later acquired by Citrix. We noticed one more thing, all the c-level employees in the team are coders and have maintained a decent Github profile.

How do you plan to stand out with respect to other relayers in the market?

We are making the global shared liquidity concept a reality with our Aqueduct network. This network incentivizes everyone in the ecosystem to share liquidity as far and wide as possible. No other relayer has this.We also will be a compliant trading venue for tokenized securities I don’t think any other relayers are doing this either.

What are the challenges you face as one of the pioneers in the decentralized industry?

Anyone that doesn’t answer this question with “liquidity” is wrong. Liquidity is the biggest problem with all decentralized exchange. We’re tackling it and making good progress, but it’ll take time.

Tell us about your team and what makes you special?

We’re unique in the 0x relayer space in that our team not only comes from a software engineering background, but we also have deep finance and business experience and connections. This helps us in many ways.

What are your challenges in acquiring, educating and retaining customers?

We have a couple of challenges here. Liquidity begets liquidity — users will go wherever that liquidity is, so we have a bit of a starting problem. As I said before, we’re solving that, but it takes time. We’re US-based, dealing in a business where the regulations may be a bit unclear. We’re doing everything we can to be as compliant as possible, but doing so may mean sacrificing taking an action that would otherwise bring us a large infusion of users. This is a sacrifice we’re willing to make to realize our long-term goals.

Do you plan to bring additional products to the market?

Absolutely. We currently have 3 products in the market: our ERC dEX relayer for token spot trading, our Aqueduct liquidity network, and our Market Maker Automation Toolkit. We know we’re going to be adding compliant security token spot trading, but we may also add products using other protocols. Some we’ve been seriously considering include dY/dX, b0x, and others.

How do you plan to offer liquidity?

We have over 80 members in our liquidity network, including large market makers like Hehmeyer Trading and other relayers like Bamboo Relay, Shark Relay, and Amadeus Relay. We are the only relayer that collects fees and uses those fees to incentivize liquidity providers. We do this through our Market Maker programs. We have two levels to this program, our institutional program and our Designated Market Maker program, which is intended to democratize the market making process. I recently published a blog on this and the benefits of signing up, with as little as $100 committed. We’ve had nearly 60 people sign up in the few days after that blog was published.

Have you guys closed any rounds of funding?

We have mostly bootstrapped to date, but are now about halfway through a seed round. Interested investors should reach out to finance@ercdex.com.

Paradex

Paradex offers a decent trading experience. You can begin by connecting your wallet. You need to select the token pair by click on the market button on the top bar. They have a limited number of tokens to trade.