This entry is part 6 of 9 in the series Overview of EOS Exchanges

Here we go, the latest entry in the decentralized exchange game. Just recently being launched EOSDAQ is a fully decentralized exchange (DEX). This is a key difference to the current market leaders like Newdex or Dexeos which still have their own wallet involved making them no real DEX.

The first view on EOSDAQ is very good. Understanding that it just started as a beta release, this really looks promising!

One specialty has caused an initial revolt amongst early users, it is mandatory to register your account based on a valid email address. You may argue that this is entirely against the principle of a DEX, which I generally agree to. Since the exchange is based in Korea though it needs to assure to match the local KYC requirements which will need registrations going forward.

Let´s look at the details. You can clearly see that EOSDAQ is being developed in Asia, as many of you may recognize from other Cryptocurrency Exchanges, the interface is structured the Asian way. Most prominent is the color schema since RED=GAIN and BLUE=LOSS which tends to confuse the “rest of the world”.

Charts are provided, as always, by tradingview, no need to say more.

I have to says that homework was made by the developers as the interface includes a copy of price from the bid and ask to the trading interface, percentage selectors for a number of tokens and my favorite up and down arrows to increase or decrease the price by a “Satoshi”.

Be careful again! The color scheme hits once more since the BUY-BUTTON is RED and the SELL-BUTTON is BLUE!!! Careful what you do here!

Also, the current order book is a little confusing, some design tweaks would be good to make it more readable.

The statistics of market trades, open and closed orders is available furthermore the “wallet” view offers a pretty unique listing of all tokens in your wallet. I really like it.

It is great to see “Profit/Loss” of the account, ROI per token and average purchase values. These are KPI´s that not even Binance provides as of today! Great job!

Those details make me wonder though what data might be stored within the DEX´s data warehouse. The values are nice to see this but once more it does not match my personal understanding of a fully decentralized exchange.

The trading pairs are yet limited, and volume is extremely low, but EOSDAQ might be one of the upcoming heroes of EOS.

Exchange Type: Decentralized Exchange

Login: Scatter
KYC: email registration mandatory
Min. Order: > 0 EOS
Fees: None

URL: https://eosdaq.com/

WATCH OUT! The prices might be x10 of other exchanges! Be sure to count zeros before hitting the buy or sell button!

Conclusion

I honestly was impressed by the first view on EOSDAQ, since it offers broad functionality in a very early stage, virtually being launched today. I am convinced that we will hear more about them very soon.

Since I am testing virtually all exchanges available as of today it might be recommended to hire a “market maker” for the early stage to assure that volumes are flowing to the exchanges. Since trade prices are set at extremely high variance to the running exchanges, this does not create any trading volume immediately.

Looking forward to your comments! Please let me know if you identify a new exchange you would love to see covered. More daily updates can be found on Twitter: https://twitter.com/bitcoin_quest or follow https://t.me/EOS_Exchange_News

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