Volume is less important when it still holds the same prices as the main exchanges. Infact there are arbitrage opportunities too. So the lower daily volume can actually help spot trends where things are going between the two. This could be an advantage instead of a disadvantage.
As far as the low volume you're talking about... it is true, there are less bots on the dex buying/selling to themselves. You have a huge number of bots using the main exchanges api which shows an inflated volume. But if 80% of all transactions are bots buying/selling to themselves on the main exchange as marketmaker bots... how does that volume help the average trader?
A: It doesn't. Those same marketmaker bots can play havok by deliberately forcing a coin down or up at will.. especially once they realize the bulk of the volume is their own bots trading and no one elses. (Which is possible to discover and a bit of artificial intelligence).
You have to put it into perspective when you consider whether or not a bit of lower volume is a problem, or a bonus in this particular case. In this case, it is a bonus to me.
The coin developers themselves have to work to get them added. When you first create a wallet on openledger, at the bottom of the page it says "Add Coin", which allows any coin developer to fill out the information and get their coin added.
It is important for every gateway provider on the dex, to have a direct dialog with coin developers so if issues arise, they get ahold of the coin developers ASAP.
If coin developers haven't bothered with the dex, than the onus is on the coin developer themselves. But this doesn't matter, the dex still carries plenty of options. SMOKE for example, isn't even listed on coinmarketcap.com but it's a tradeable token with over 500,000 facebook users coming to EOS soon. So you could equally ask, why are there things on the DEX but not coinmarketcap.com either?
We don't live in a perfect world.. so we have to work with what we have.
Volume is less important when it still holds the same prices as the main exchanges. Infact there are arbitrage opportunities too. So the lower daily volume can actually help spot trends where things are going between the two. This could be an advantage instead of a disadvantage.
As far as the low volume you're talking about... it is true, there are less bots on the dex buying/selling to themselves. You have a huge number of bots using the main exchanges api which shows an inflated volume. But if 80% of all transactions are bots buying/selling to themselves on the main exchange as marketmaker bots... how does that volume help the average trader?
A: It doesn't. Those same marketmaker bots can play havok by deliberately forcing a coin down or up at will.. especially once they realize the bulk of the volume is their own bots trading and no one elses. (Which is possible to discover and a bit of artificial intelligence).
You have to put it into perspective when you consider whether or not a bit of lower volume is a problem, or a bonus in this particular case. In this case, it is a bonus to me.
I coulnt agree more!
How about all these new coins (just top 100) that I cant find on the DEX, why arnt these added?
The coin developers themselves have to work to get them added. When you first create a wallet on openledger, at the bottom of the page it says "Add Coin", which allows any coin developer to fill out the information and get their coin added.
It is important for every gateway provider on the dex, to have a direct dialog with coin developers so if issues arise, they get ahold of the coin developers ASAP.
If coin developers haven't bothered with the dex, than the onus is on the coin developer themselves. But this doesn't matter, the dex still carries plenty of options. SMOKE for example, isn't even listed on coinmarketcap.com but it's a tradeable token with over 500,000 facebook users coming to EOS soon. So you could equally ask, why are there things on the DEX but not coinmarketcap.com either?
We don't live in a perfect world.. so we have to work with what we have.
Learned some new things from you today, thanks!