Post
Topic
Board Trading Discussion
Merits 4 from 1 user
Re: How does a decentralized exchange work?
by
hugeblack
on 06/01/2022, 06:20:12 UTC
⭐ Merited by o_e_l_e_o (4)
IDEX is no longer a fully-decentralized exchange.

IDEX was not decentralized in the first place, I think that we should set a standard by which we define DEXs because claiming  about decentralized does not make it decentralized.

IDEX is trying to be decentralized so that he is not required to manage databases and provide liquidity, then creates accounts and ask for KYC. It is a bad model for hybrid exchange that combine the defects of centralized and decentralized exchanges.


For example, I read about dYdX DEX which is one of the famous Decentralized Exchange (DEX),
they have Location Restrictions - https://help.dydx.exchange/en/articles/4798063-location-restrictions

Most likely, in such cases, they try to avoid any legal problems, by setting such conditions and the possibility of providing communication through VPN. I do not think that there will be any problems.
The point of a decentralized platform is who controls the private key.