Decentralized crypto exchange starts competition in the pursuit of Real Alpha
Decentralized crypto exchange starts competition in the pursuit of Real Alpha
- The idea is to take the advantage of closed telegram groups and to show commercial skills for everyone
- The buy-in is $ 2,500 in the stablecoin USDC
The decentralized Börse Dydx Trading started its first trading competition on the cryptocurrency protocol on Wednesday - with the aim of playing out an influencer against a dealer with their money, literally where their mouth is.
The participants have to buy with the StableCoin USDC worth $ 2,500, an amount that they receive - together with all profits achieved - after the event. There are also exclusive non -fungal tokens (NFTS) and cash prices that are on stable coins.
The founder and managing director of the decentralized stock exchange (Dex), Antonio Juliano, said Blockworks said that many retailers drive their ability to derive alpha through telegram groups and Twitter. But there is not necessarily a public "good way to objectively measure how well people work".
rankings for the smartest traders are measured in both gained and lost dollars as well as in percentage. The latter is an attempt to eliminate whales that come in and park their extensive assets in safe playing to achieve a medium return with a large amount of cryptocurrency.
The idea is that the participants can test their skills in a variety of liquid cryptocurrencies, including digital defi assets.
The Dex also plans to organize a number of Twitter Spaces to inform the public about how the best traders “think about market movements” and deal with relevant macrothemes.
The start takes place, while the crypto markets continue to wiggle after they have lost trillion of dollars of market capitalization since their record heights, after the decline of the stable coin Terra VAT and recently the collapse of insolvent crypto creditors, including Celsius and Voyager.
However, it can be argued that retailers - and especially those of retail - are more prone to serious information today than has been accessed.Juliano's team-the employee hired, although a number of top-class crypto companies were forced to carry out considerable cuts-has an iPhone app and now has an Android sister product. The final goal is to make the experience of buying and selling digital assets on Dydx for dealers as seamlessly as it registers with centralized stock exchanges such as coinbase and a transaction.
Although Dexs have put a long way to do with regard to user -friendliness and accessibility, there is still a lot to do, according to industry participants in the dark, difficult to understand world of defi (decentralized finances).
Despite the market deposition, Juliano is optimistic that Defi will stay here.
"How does defi win?" He asked. "It's about creating a product that people actually want to use."
The stock exchange also has its own DAO, completely with a native governance token that prescribes how the DAO (decentralized autonomous organization) works every day.
Overall, Dexs such as Dydx have reduced the trading volume of centralized titans, including coin base and octopuses, remarkably. But in the opinion of Juliano, the "most likely scenario is that the two coexist for a while". And some Dexs have lower fees as centralized market maker - another potential blessing for dealers.
The team also works on the next iteration of its native protocol, an undertaking that is expected to take about six months and ideally lead to a fully decentralized platform in which the company largely takes a back seat to the community.
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The Post Decentralized Crypto Exchange Kicks Off Contest in Pursuit of Real Alpha is not a financial advice.