DEx.top: We strive to provide a safe and fair trading environment for our customers
DEx.top is a decentralized cryptocurrency exchange service that was officially launched on June 6, 2018. The service is constantly improved and providing its growing user base new features that will make the job of the exchanger more comfortable and safer with each passing day.
Jiayu Gao, Director of business development DEx.top, kindly agreed to talk with the Coinlife about requirements that exchanger makes to its partners and how the company seeks to improve the security of the service.
When did the project was create? Where is it based? How many people are working on this project?
DEx.top was open for trail back in May 2018. Our team members of DEx.top are decentralized and located in Switzerland, United States, Singapore, and Hong Kong.
Technical members of DEx.top previously held key positions at Google and Uber as the system architect and project leaders. Our team has a rich history of research and development in the Fintech industry and is committed to develop and promote the underlying blockchain technology. Team members have previously developed our own Braft federal-chain consensus, developed smart contract models that support multiple setting, and developed the decentralized trading exchange that supports digital financial derivatives.
How many users (daily) does the exchange have? What is the daily trading volume?
We are currently number 2 decentralized exchange. In terms of numbers of transactions.
What are the crypto-currencies and tokens on the trading floor? What are the trading pairs?
Ethereum and ERC-20 tokens.
Our developers are currently working on multi-chain & cross-chain development. And more trading pairs are on our future plan as well.
What are the requirements for the crypto projects to be listed in your platform? What tokens do you plan to add in the future?
On DEx.top, we are committed to providing a safe and equitable trading environment to our users. We will do a full due diligence on the project whenever there’s a new listing.
DEx.top is looking for projects with (but not limited to) the following characteristics:
- Team: Holistic, professional and experienced, with a unique advantage in your project’s chosen industry.
- Project: A clear and logical implementation plan for the project’s technical applications and business model in the white paper. Existing use cases, feasibility, and any innovations are also a plus.
- Community: The project has built up a large and supportive community.
- Partnerships: Backed by reputable investors and industry experts and is receiving support from partner institutions.
- Token Code: The token’s smart contract address code is open-source. DEx.top will conduct stringent token code audits to ensure that tokens listed on DEx.top can be traded in a safe and stable manner.
You had a choice, which exchange to create: centralized or decentralized? Why did you choose this type of exchange?
We will still choose decentralized exchange.
Decentralized exchange is more secured, transparent, and hard to manipulate which really follows the spirit of blockchain technology.
Our team is strong in building blockchain infrastructure, and we find that It’s more interesting and challenging to develop a decentralized exchange rather than centralized exchange. Recently we also see the trend that lots of successful centralized exchanges are moving towards decentralized exchanges. We believe that with the improvement of blockchain infrastructure and users education, more and more people will start using decentralized exchanges.
What are your competitive advantages compared to other exchanges?
- Innovative ROC (Relayed On Chain) trading mechanism that leverages the synchronized off-chain and on-chain ledgers to give users instant trading experience while making their assets safe.
- Seamless integration with 5 digital wallets (Coinbase Wallet, imToken, iBitcome, Trust, SafeWallet)and hardware wallet (Ledger)
More wallets and Dapp browsers will be available in the future. - More secure and transparent with 3rd party security auditing — Hackerone、ChainSecurity、Sentinel Protocol.
- Strong community engagement — 24/7 customer service support near instant replies, Research Institute who dedicate to transfer blockchain knowledge.
Which blockchain does your platform use?
DEx.top is operating on Ethereum network.
Do you agree with the statement of Vitalik Buterin that all centralized exchanges should disappear? How do you think, is the market ready for this?
We believe that CEX and DEX serve the different markets, and in the future, it could be combination of both — Where centralized exchanges can provide a fiat to crypto channel, and decentralized exchanges can provide users a more secure and transparent platform, with fast listing of tokens.
What are the advantages and disadvantages of decentralized and centralized exchanges for the end user?
Centralized exchanges are easier to use, with larger liquidity and no network dependency.
While decentralized exchanges are more secure, more transparent, quicker to list tokens, and exchange itself has no control over the users’ funds.
Large hacker attacks on crypto-exchanges have become frequent. Why are exchanges becoming targets for intruders? What do you do to ensure security? How do users trust you?
The centralized exchanges holds users’ funds and provide a single point of failure, which has resulted in numerous hacks.
On DEx.top users’ deposits directly go to the smart contract, and orders are signed by users’ private key. The smart contract ensures that orders are executed or expire correctly and that withdrawals from users’ balance always go back to users’ wallet. DEx.top has no custody of or access to users’ funds, nor users’ private key. It is just a service of order matching and a source of liquidity.
In terms of security, we are audited by Hackerone, ChainSecurity, Sentinel Protocol.
Many mass media have repeatedly reported that crypto-exchanges purposely disseminate improbable data on sales volumes. Are these charges fair?
On decentralized exchanges, all data is transparent where you can check from ETH explorer such as Etherscan.
Are there any plans to translate your platform to russian language to be more closer to russian customers?
Russian market is very important for us. DEx.top welcomes all Russians users to trade on our exchange, and all outstanding Russian projects for listing. We will launch our DEx.top 3.0 by end of this year. More features and more languages will be available in the future.
