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0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

0x.org

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Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#61

Post by arcticbull »

Legogris wrote: post #48
rib3ye wrote: post #42

Earlier quoted context omitted.

Think more broadly about what an "exchange" could be. You're thinking crypto forex, but consider a crypto-kitty bidding platform or a virtual game item marketplace.

Or market for insurance policies. Or bonds. Or stocks. Regulation is clearing up and there are many biting at the bit for this. The disruption of financial markets may not happen tomorrow, but once it does it will go fast in each market. If there are more efficient venues, competitive market participants will start moving once they realize that they will be at a competitive disadvantage if they don't. When I say effi…

> Regulation is clearing up and there are many biting at the bit for this.

In what way is regulation actively harming your ability to purchase shares of a legitimate operating business without overextending yourself financially? Please be specific.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#62

Post by [deleted] »

nostrademons wrote: post #59
Animats wrote: post #55

Earlier quoted context omitted.

Why should I launch an exchange when there are already hundreds of existing exchange? Because you can steal the assets, like about half of Bitcoin exchanges to date.

You can't with 0x, at least not in the way you could at say Bitfinex or Binance. All of the assets remain in your personal Ethereum wallet until a trade is matched up. That's the genius of the 0x protocol. The Relayers that LaunchKit lets you create are effectively just order books or other matching-engines that exist as a website or other service. They expose completed trades to the 0x smart contract, which atomical…

[deleted]

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#63

Post by Legogris »

aakilfernandes wrote: post #34
leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

Different jurisdictions have different compliance requirements. Not sure, but my guess is the goal of this project is to allow regulatory arbitrage with a single unified interface.

Capabilities to enforce regulatory compliance on permissionless chains is coming. You could, say, have zero-knowledge proofs in smart contracts that enforce that tokens representing security X can only be transferred if the receiving account has performed KYC and confirmed as an accredited investor in jurisdiction X, Y or Z, without leaking any PIIs that went Intl the verification.

Or more trivially, TPL for account tagging.

Microsoft's initiative on decentralized identity leveraging on the Bitcoin blockchains could be a component in this. Excellent podcast episode here: https://letstalkbitcoin.com/blog/post/what-bitcoin-did-107-m...

Not to say you're completely wrong, just that smart contracts can be used to enforce regulation rather than skirt it - like any tool the outcome depends on the intentions of the one wielding it. :)

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#64

Post by nradov »

monkeydust wrote: post #41

Looks interesting will give it a whirl. At work we have semi-jokingly been discussing idea of a internal currency as a mechanism of getting one team to do work for another when there is no obvious mutual benefit for said work. Its increasingly becoming an issue for us.

Chargebacks have been used since forever in corporate accounting systems for that purpose. They work fine, no cryptocurrency or exchange needed.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#65

Post by dcolkitt »

leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

> Exchange services is very difficult to differentiate.

Because financial markets are very globally fragmented. The hardest part about opening an exchange is banking, clearance and KYC/AML. For example the chance that a citizen of say Benin or Uzbekistan could open safely and easily open an account at one of the major crypto exchanges is essentially zero.

There's a lot of parts of the world where there's a captive audience with high demand for crypto trading, but no decent service available. There are pre-existing traditional brokerages and forex shops that have the local banking and KYC/AML infrastructure place, but don't have the tech for the exchange itself.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#66

Post by Legogris »

arcticbull wrote: post #61
Legogris wrote: post #48

Earlier quoted context omitted.

Or market for insurance policies. Or bonds. Or stocks. Regulation is clearing up and there are many biting at the bit for this. The disruption of financial markets may not happen tomorrow, but once it does it will go fast in each market. If there are more efficient venues, competitive market participants will start moving once they realize that they will be at a competitive disadvantage if they don't. When I say effi…

> Regulation is clearing up and there are many biting at the bit for this. In what way is regulation actively harming your ability to purchase shares of a legitimate operating business without overextending yourself financially? Please be specific.

By "clearing up" I mean that we are starting to see how regulation is being applied, not that it is being relaxed.

I actually don't see how your question relates to what I wrote at all..? Sorry, English not native language etc. Please clarify if I wooshed.

To clarify, many, especially investors, bigger businesses and financial institutions have been cautious because of regulatory uncertainty.

There's still ways to go, but it's happening. The sky is far from blue but the wind is blowing, so to say.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#67

Post by wolco »

woah wrote: post #44
jandrese wrote: post #23

Earlier quoted context omitted.

Hardly a week goes by without one folding due to hacking, mismanagement, or outright criminal activity. Seems like they need someone to keep up the churn or they might run low.

You can’t steal the tokens if you are running a 0x exchange.

Only 0x can steal them

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#68

Post by repomies68 »

leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

The market has ridiculous demand really, at times. But it highly depends on timing, location etc. And also resilience. If you run the exchange for long enough time, you will collect customers who will be coming back.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#70

Post by hanniabu »

nostrademons wrote: post #56
hanniabu wrote: post #46

Earlier quoted context omitted.

IDEX isn't a decentralize exchange

IDEX is semi-decentralized: order-matching is handled off-chain, funds must be deposited into a centralized smart contract that handles all settlement, but the smart-contract itself and balances within it are held on the Ethereum blockchain. It prevents some forms of exit-scam or hack (you don't need to trust that the IDEX principals won't send your funds to a bank in the Bahamas), but retains vulnerability to a bug…

There are 4 core components to a decentralized exchange: (1) storage of funds, (2) order books, (3) order matching, (4) settlement. Unless you have all 4 of these it is a hybrid exchange. Calling it anything else is misleading an disingenuous.
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