On the Waves DEX

Only 1636 TULIP are now left in existence.

Easy as pie

Even though I still disapprove of the centralized control. by the WAVES team, over the Asset verification proces, I do like the User Interface {UI} the WAVES Decentralized EXchange {DEX} has. So to DEX UI-developers out there please do take note, how the WAVES DEX Web user-interface is set up, that is how it works. In the last Bitshares DEX release, 2018/04/02, things became more restricted towards adding markets. This is a real deal-braker for me, as I dislike the preset market and not having the apparant choice to remove bitUSD for instance and add bitEUR or the MONDO. Hopefully this will be added in a future update. Wave allready has the choice of creating ones own prefered market(s) inside the WAVES DEX Web User Interface. (The App does lag behind though.)

And another winner became active today for the WAVES DEX. It now has become very easy to BURN the Assets one created on the WAVES platform. This can be done in the smallest part of an Asset, or completely. At the transaction cost of 0.001 WAVE, this can be seen as adding value to an Asset. Also it will make an Asset more scarse. Of course this is only trustworthy if an Asset was only to be issued once. Although some might see it handy to re-issue and burn an Asset, to adjust to the level of demand. Except the actually transaction of a TOKEN-BURN on the blockchain there is no value to be found that shows how many of the Asset is still in rotation. It only shows the amount issued, yet this might be added in the near future. And in the meantime I did already burn 1 TULIP, so there are only 1636 left...

Burned even more tokens

And because it is such fun to add value to an Asset by burning a token, I did it with some others that I issued too. Like 0.099 DOTCOM, 239 Diamond Bitcoin and 140.17647059 Goudflorijn.SMT. These ones I bought on the DEX and they have now been burned. Those ones can never be returned, which seems to be different from the same function on the Bitshares DEX. There burning seems to mean the created User Issued Asset {UIA} is returned to the reserve, the amount that has been created. And I do prefer the WAVES solution. The choice to either have a re-issue possible, or to send the Asset Tokens into the void.

The ability to burn Assets on the WAVES DEX really added value to that platform. And I think I am going to use it some more in the near future.

May the Cryptos be with us!

Burning Assets on the WAVES DEX

Image cc-by-sa @oaldamster - Screenshots taken at https://beta.wavesplatform.com/