What needs attention on the Bitshares DEX - Post 1
For Bitshares to be a viable trading platform, it must offer what people want. Trading volume is a good indicator of interest, and thus also of importance to Bitshares. I hope to raise awareness of the key shortcomings of the DEX, so we can concentrate our efforts and fix them - making the DEX awesome!
Regarding the 10 most traded coins today globally, I checked what assets users are likely to find, and what is missing. In my next post I will look at the respective markets - what they look like.
I will be focusing on bitUSD markets, as there seems to be an agreement that it is the most important base asset. I won't touch bitCNY, as the eastern community seems to be taking good care of that.
BTC
There are a few different BTC's, but there should be no problem as the most traded one is on top of the list
ETH
It exists, but it's not so obvious. There are a few alternatives to confuse the user. Trading volume on the right one will fix the problem.
DASH
There are two with the same name, which is not nice. We need to make volume on the right one to make it obvious.
USDT
Can be found and the market is well supported, making it easy to find.
ETC
ETC is one of the most traded coins, but it is not to be found on the DEX. I don't know if it matters, though.
XMR
Non existent. Bad experience for someone trying out the DEX.
LTC
It exists, but somehow I couldn't find it on the exchange page. Only by typing ...OPEN.LTC_USD into the URL I found the market.
XRP
Isn't there. I guess people are interested in Ripple, so providing it is important.
ZEC
Zcash can be found, but who knows what it represents, and who the issuer is.
FCT
FACTOM can be found, but not FCT. Practically you can't trade FCT yet on the DEX
So five of the most traded coins can be found on the Bitshares DEX. Not bad. We just have to make them active, and see what we can do about the missing ones. Of course the trading volume of 24 hours doesn't tell the whole truth, and looking at one month would give a more correct picture. However, I didn't find such statistics.
Open Ledger needs more traffic then BTS will go to the moon ;-)
Yes, that's what we're thinking too! We are taking the steps needed to realize it. First we need good markets on all the important bitUSD pairs. Then we can work on attracting more people.
Follow you. I am a member of the 500 bloggersclub ;-)