I like the concept it shows trait of full decentraliztion but i just hope it wont turn out to be another idex. Idex started as a decentralised exchange just last week they announced that they were going to start carrying out KYC procedures for its traders. I just hope switch won't follow that path
Watch and see, in the next few weeks, that is how many of these DEX exchanges will catch the KYC fever and start implementing it, prior to now, there was no much thing going on KYC in crypto, we have few people that implemented it but never enforced it, some centralized exchanges were never even considering doing so.
Just suddenly, someone started imposing the KYC, it was broadcast and that was how many of the CEX we see now fully comply with the KYC, and before you know it also, other ICO projects too that are looking for money started requesting for it and we never rejected it, the moment they saw that despite the complaint, people were still complying, they became adamant on it, and this is how DEX exchange too will operate.
Perhaps something is happening that ordinary users of cryptocurrency do not know if a total verification of personalities has begun. If earlier they declared the complete anonymity of cryptocurrency users, then mass demands are already beginning to provide passport data. The only good news is that on some exchanges there are minimums for withdrawing funds for which you do not need to provide KYC.