The Problem with DEXs Today
Liquidity & Scaling Constraints
Users of DEXs are subject to the inherent constraints of the Ethereum blockchain. Most DEXs today require on-chain transactions for order cancellations, exposing market makers to increased risks of front-running .
These limitations create a barrier for DEX liquidity.
Many DEXs are centralized in most aspects. From restricting access to certain user demographics, retaining control over exchange infrastructure, to even requiring KYC.
YDEX will be a fully equipped platform to make trades with ease, covering up for all the missing pieces in the existing DEXs
Features of YDEX —
Multi chain :
The protocol will be multi-chain supporting Ethereum, Solana and Binance smart chain and going forward with adding more new chains.
DeFi Token Offering : A DeFi Token Offering platform to launch new tokens
Liquidity Mining : Users will earn rewards from Liquidity Mining
Orderbook model : On chain orderbook
Trade on Anything : YDEX gives you the freedom to create and trade on any derivatives market of your choosing ( host your own market )
Governance: A governance mechanism to govern the YDEX changes over time.
Earn Yield : Earn cross chain yield on Ethereum, solana, tomochain and other decentralized networks
Why do we want to build YDEX?
We have decided to invest our time and energy into building YDEX, and we believe that:
DEXs should be fully decentralized.
DEX user experience must rival CEX user experience.
Our mission is to realize the full potential of DEFI.