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r/CryptoCurrencySee Post

A Thoughtful Discussion on My Top 4 Coins and Why

r/CryptoCurrencySee Post

Happy Festivus! Here is my airing of grievances. What are yours?

r/SatoshiStreetBetsSee Post

Price analysis 12/23: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

r/CryptoCurrencySee Post

Leading Decentralized Exchange Uniswap (UNI) Launches Payments With Credit Card and Bank Transfers - The Daily Hodl

r/SatoshiStreetBetsSee Post

Price analysis 12/21: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Price analysis 12/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Price analysis 12/2: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

r/SatoshiStreetBetsSee Post

Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

r/CryptoCurrencySee Post

FINALLY! UK and European residents get another crypto card option.

r/SatoshiStreetBetsSee Post

Price analysis 11/25: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

r/CryptoMarketsSee Post

how can I tell for sure a transaction is legit?

r/SatoshiStreetBetsSee Post

Price analysis 11/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

r/CryptoCurrencySee Post

Price analysis 11/16: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

r/SatoshiStreetBetsSee Post

Price analysis 11/16: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

r/CryptoCurrencySee Post

Why I am strongly against crypto regulation.

r/CryptoCurrencySee Post

What you need to know to make it and dont learn on this subreddit.

r/CryptoCurrencySee Post

UNI vs AAVE vs GMX

r/CryptoCurrencySee Post

3.6M $LINK, 17M $INCH, 1.9M UNI transferred out of FTX to unknown wallets in the past 5 minutes.

r/CryptoCurrencySee Post

Another one sets to bite the dust ?

r/CryptoCurrencySee Post

SBF's Alameda Deep Dealings With Tether And Alleged FTX Market Fraud

r/CryptoCurrencySee Post

A Binance spokesperson acknowledged that it moved 4.6 million UNI between wallets and activated its delegation, but said the reason for the transfer was misreported and it never intended to vote with the tokens.

r/CryptoMoonShotsSee Post

Over $900K from airdrop? Is it that lucrative?

r/CryptoCurrencySee Post

Binance Unintentionally Delegated 13.2 Million UNI Tokens

r/CryptoCurrencySee Post

Binance didn't intend to delegate 13 million UNI tokens, says CEO

r/CryptoCurrencySee Post

Uniswap (UNI) Likely To Reach $7 – If Token Overcomes This Resistance Level

r/CryptoCurrencySee Post

BTC has bottomed and here are the Alts I'm in: ENS, UNI, LINK

r/CryptoMarketsSee Post

UNI Price Analysis October 2022

r/CryptoCurrencySee Post

Biggest Movers: LINK Hits 6-Week High, UNI up 16% on Tuesday

r/CryptoMarketsSee Post

UNI for Beginners: Infographic by ChangeHero

r/CryptoMoonShotsSee Post

Save on gas and earn higher returns when LPing on Uniswap

r/CryptoCurrencySee Post

ETH merge -- are all tokens on the Ethereum network safe?

r/CryptoMarketsSee Post

Uniswap (UNI) Struggling At Key Level! Could It Hold Its Bullish Structure?

r/CryptoMoonShotsSee Post

havoc | marketcap 100k | strong community | rewards are in uni | join a community causing some much needed disruption in defi

r/CryptoMoonShotsSee Post

Havoc | launched makertcap 100k | rewards in uni | strong community | big marketing campaign | trusted team

r/CryptoMoonShotsSee Post

Havoc | launching within 2 hours | big marketing campaign | strong community | be part of this amamzing project

r/SatoshiStreetBetsSee Post

Top 5 cryptocurrencies to watch this week: BTC, ADA, UNI, LINK, CHZ

r/CryptoCurrencySee Post

Remember when Uniswap founder's bank account was shut down by JP Morgan Chase without explanation and how he complained on Twitter? Well, how the turntables... Now Uniswap is blocking all addresses linked to Tornado Cash.

r/CryptoMoonShotsSee Post

Uni Dino | Already Launched 2 Hours Ago | Erc20 | Fresh mc & Low tax | Game & Bridge | Amazing Team And Great Community

r/CryptoMoonShotsSee Post

Unı Dıno | Already Launch 60 minutes ago | Erc20 | Fresh mc & Low tax | Game & Bridge

r/CryptoCurrencySee Post

Let me tell you how I was scammed.. I was ignorant..

r/CryptoCurrencySee Post

Just got screwed out of 4k joining BAL/ETH LP using Furucombo, be careful.

r/SatoshiStreetBetsSee Post

Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA

r/CryptoCurrencySee Post

Ethereum Classic Almost Triples, MATIC and UNI Surge as July Brings Relief to Crypto Market

r/CryptoCurrencySee Post

Ethereum Classic Almost Triples, MATIC and UNI Surge as July Brings Relief to Crypto Market

r/CryptoMarketsSee Post

In the 3rd Episode of Cryptoverse, We will deep dive into Uniswap. I'll explain what is Uniswap, tokenomics of UNI Crypto, Tractions so far, Future Roadmap, Fundamentals analysis, and price prediction.

r/CryptoCurrencySee Post

Finding Truly Valuable Protocols: It’s All About Revenues and Cashflows

r/CryptoMarketsSee Post

TOP- 5 Long - Term Cryptocurrencies to Invest in 2022

r/CryptoMarketsSee Post

TOP- 5 Long - Term Cryptocurrencies to Invest in 2022

r/CryptoMarketsSee Post

TOP- 5 Long - Term Cryptocurrencies to Invest in 2022

r/CryptoCurrencySee Post

UNI, MATIC and AAVE surge after Bitcoin price bounces back above $20K

r/CryptoCurrencySee Post

What to buy beside BTC and ETH. 5 Defi projects for those looking for a good investment.

r/CryptoCurrencySee Post

"7500 ETH ($9.1 million) Stolen in Uniswap Phishing Attack" Here's What Happened and How to Protect Yourself.

r/SatoshiStreetBetsSee Post

Top 5 cryptocurrencies to watch this week: BTC, UNI, ICP, AAVE, QNT

r/CryptoCurrencySee Post

Grayscale removes LTC, BCH, LINK, UNI and DOT from the Digital Large Cap Fund

r/CryptoMoonShotsSee Post

| Uni Muu Inu | Dual Hyped Token Launching On BSC | The Dev is fucking beast - building NFTs will be live on VC at launch |

r/CryptoCurrencySee Post

One year ago, I gave my kids $100 each and asked them to pick three cryptos in a 40:30:30 ratio to track. I will give them all the profits their investment has earned when they turn 18. This is what they chose (and how its going).

r/CryptoCurrencySee Post

Upgradable tokens

r/CryptoCurrencySee Post

Why are you buying Uniswap? Or, why are you NOT buying Uniswap?

r/CryptoMoonShotsSee Post

Fair launch Mewnicorn 6K$ Marketcap now, LP locked + contract verified safe play, 1000x incoming CG & CMC aplied.

r/SatoshiStreetBetsSee Post

Top 5 cryptocurrencies to watch this week: BTC, UNI, XLM, THETA, HNT

r/CryptoMoonShotsSee Post

Mewnicorn fair launch now 4K$ marketcap! Huge marketing CG and CMC listing | UNI rewards om the BSC for holding Mewnicorn. Passive Income for ever!

r/CryptoMoonShotsSee Post

Mewnicorn MUNI fair launched, LP locked contract verified, NFTs and P2E game incoming. CG & CMC listing and more soon!

r/CryptoMoonShotsSee Post

Mewnicorn MUNI fair launched, Based team LP lock and contract verified, UNI rewards on the Binance Smartchain for holders, passive Income for ever!

r/CryptoMoonShotsSee Post

Mewnicorn Fair Launch Now, mind Blowing BSC Gem UNI rewards on the Binance Smartchain x1000 easy!

r/CryptoMoonShotsSee Post

Mewnicorn Fair Launch Today at 20:00 UTC, join the telegram for more info | Based team x1000 BSC Gem!

r/CryptoMoonShotsSee Post

Mewnicorn Fair Launch, UNI rewards on the Binance Smartchain, join the telegram for more info | Based team x1000 BSC Gem!

r/CryptoCurrencySee Post

The Arbitrum Odyssey Guide: How to qualify for NFT rewards and airdrops.

r/CryptoMarketsSee Post

UNI Price Analysis June 2022

r/CryptoCurrencySee Post

what are the 5 cryptocurrency to invest in 2023?

r/CryptoCurrencySee Post

Shortly Before Halting Withdrawals: $320M Worth of Crypto were transferred to FTX

r/CryptoMoonShotsSee Post

unı dıno $dıno |UNI DINO $DINO makes a new revolution in the fair launch of the bnb chain with the first bridge of its kind from multiple networks to $bnb | reward bnb | already launch 5 minutes ago | game | nft | 2k Mc

r/CryptoCurrencySee Post

Uniswap vs Sushiswap

r/CryptoCurrencySee Post

Korean watchdog begins assessing cryptocurrency risk after vote held for Terra 2.0 project

r/CryptoMoonShotsSee Post

Arrakis Finance (formerly known as G-UNI), the web3’s liquidity layer, has now $746.49M TVL — that's more than 15% of Ethereum Uniswap V3 TVL. This makes Arrakis the largest LP on Uniswap V3 by far.

r/CryptoCurrencySee Post

Can you suggest a DEX token to invest?

r/CryptoCurrencySee Post

What do you think about my portfolio and strategy?

r/CryptoCurrencySee Post

What's Your Preferred Decentralized Exchange (DEX)?

r/CryptoMarketsSee Post

Uniswap (UNI) Price Analysis: Should You Buy After the Dip?

r/CryptoCurrencySee Post

New Technology - Automated Market Makers (AMMs) - Omnipools

r/CryptoCurrencySee Post

New Technology - Automated Market Makers (AMMs) - Omnipools

r/CryptoCurrencySee Post

Did you miss out on the Optimistic Airdrop? Here's your Arbitrum Airdrop Guide.

r/CryptoCurrencySee Post

A crypto protocol can’t be ‘more or less’ decentralized - it’s binary - it either is or it isn’t.

r/CryptoCurrencySee Post

Why Doesn't Litecoin Show Up On Coinbase's Top Mover List?

r/SatoshiStreetBetsSee Post

Uniswap ($UNI) Overview for 2022 - 2023

r/CryptoCurrencySee Post

offer, 20% of any profit for crypto advice

r/CryptoMarketsSee Post

Analisis Tecnico del Mercado Cripto - BTC, ETH, UNI y CAKE Usando Wyckof...

r/CryptoCurrencySee Post

Anyone want to exchange crypto with a value equivalent to Apple MacBook Pro (13.3 inci, M1, 2020) 8GB RAM, 512GB SSD?

r/CryptoCurrencySee Post

Thinking of dumping coins before April to tax harvest losses

r/CryptoCurrencySee Post

Why are DEX coins performing so bad?

r/CryptoCurrencySee Post

Any advice?

r/CryptoCurrencySee Post

Uniswap (UNI) to ease Ukraine crypto donations through a new interface

r/CryptoMarketsSee Post

UNI V3 simplified, let xToken Terminal be your guide........

r/CryptoMarketsSee Post

UNI V3 simplified, let xToken Terminal be your guide........

r/CryptoCurrencySee Post

What crypto’s are you holding for 2022?

r/CryptoCurrencySee Post

What woud/will you do

r/CryptoCurrencySee Post

Which are the "worthy" projects? Opinions?

r/CryptoCurrencySee Post

The future of UNI

r/CryptoMarketsSee Post

Don’t ignore the importance of diversifying your crypto treasury

r/CryptoCurrencySee Post

Funding the Fee Switch Activation on Uniswap V3 and V2 Protocols

Mentions

I’ll try to suggest something that hasn’t been mentioned yet that is relatively safe. GLP is an index of a few crypto assets on the Arbitrum or Avalanche network (I recommend Arbitrum for better liquidity and no exposure to AVAX). Basically GLP acts as the liquidity provider to traders on GMX, a decentralized perpetuals exchange. On Arbitrum, GLP consists of 35% ETH, 15% WBTC, 48% stables (USDC, USDT, etc) and a tiny bit of UNI and LINK. If you want to stay relatively safe and risk off, it allows you to gain exposure to half the price action of ETH and BTC. Additionally, holding GLP allows you to receive 70% of the fees the GMX platform generates from margin trading, swaps, liquidations, etc.

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10ldwad/daily_general_discussion_january_26_2023_gmt0/).

Blue-chip DeFi tokens, mostly because I have a hypothesis that they'll fit into a kind of "value-premium" (outperformance early in the cycle) pocket within the asset class. CRV, CVX, BAL, AURA, UNI, AAVE, Compound, etc. (Some of those I hold either directly or accrued through farming). NFT markets/gaming is another interesting space but I foresee that space outperforming more mid to late cycle.

ETH, BTC, ADA, CAKE (got burned on that), UNI, ALGO, DOT, CRO, LTO Way too many. I was a noob. Still am

>We also realize that unicorns are not real, and that investing in them is a terrible idea. Idk man, UNI still higher than its opening price this month 🤔

Mentions:#UNI

>A“temperature check” proposal to deploy the Uniswap v3 protocol to BNB Chain received overwhelming support from the Uniswap community on its governance forum. >80% of voters holding Uniswap’s UNI governance token have voted in favor of deploying the third version of the decentralized exchange protocol on BNB Chain, a rival of the Ethereum network. Sounds like a good chance this will take place.

Mentions:#BNB#UNI

The tittle is misleading they are not ditching ETH for BSC they are just proposing deploying on BSC as well but they won't leave ethereum, that is a good move because that will mean more fees for the protocol and more people being exposed to UNI.

Mentions:#ETH#UNI

Wowzers, the case for buying more BNB just went up, if this takes place. Poor UNI

Mentions:#BNB#UNI

I'm like: 46% BTC, 46% ETH, 4% MATIC, and the rest is like QNT, UNI, AAVE, NEAR, Algo.

tldr; 0xPlasma Labs has received initial governance approval to deploy the Uniswap V3 protocol to the BNB proof-of-stake (PoS) Chain. Over 80% of participants committed about 20 million UNI tokens to support the motion, while roughly 19.72% voted against it, according to the voting result. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#BNB#UNI#DYOR

20m UNI is safu

Mentions:#UNI

I wonder how much UNI that Binance have and what theyll do with it after moving to BNB chain..

Mentions:#UNI#BNB

C Z's empire continues to grow by the day. > Our proposal to deploy Uniswap v3 on BNB Chain has passed the 'Temperature Check' with 20M votes 'YES' and 6,495 $UNI voters (**the biggest number for the whole Uniswap Governance History)** 👀

Mentions:#BNB#YES#UNI

does CZ hold about 20 million UNI, by any chance?

Mentions:#UNI

UNI surprises me the most and next time I have some cash free I'll grab a small bag

Mentions:#UNI

>I reckon UNI is a good bet, it's down about 85% from ATH and is one of the most useful tokens around Uniswap is useful, its token not so much

Mentions:#UNI

So which alts have dropped the most over the last year or two? And more importantly which do people think are dead, and which do people think will soar back to/beyond ATHs? I reckon UNI is a good bet, it's down about 85% from ATH and is one of the most useful tokens around. I'm honestly surprised it's performed so poorly since it's peak. Similarly I am hopeful for BAT as I love Brave and again its a good working product, also down about 85%, but I don't think the token has the same value. ENJ, on the other hand, is down 92%, at one point over 95% down, and I don't see it reaching those highs again. Could be good for a few pumps during the next bull run when a few people inevitably try to make NFTs a thing again, but I think the novelty has worn off. Other coins that have suffered to watch/avoid?

Mentions:#UNI#BAT#ENJ

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10fmn05/daily_general_discussion_january_19_2023_gmt0/).

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10fmn05/daily_general_discussion_january_19_2023_gmt0/).

DOT ATOM, EVM clones MATIC AVAX FTM, Dex tokens UNI, 1inch

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10dwvz3/daily_general_discussion_january_17_2023_gmt0/).

I recently started to accumulate some UNI. Their team keeps building and it's a very reputable dex. In case dex sector will see a hype, uni won't be left behind (I guess). Another girl of yours could be to farm moons.

Mentions:#UNI

True. Those are valid points. Currently, I don't think it has big incentives, but I believe (hope) it's a matter of time, before the Uniswap team looks at Binance's successful model of how they capitalized on BNB and will follow accordingly. Maybe they're waiting to have a bigger base of user??? When/if that happens, the price of UNI will move and I want to be in, early. Also, when I look at other DEXs, I'm not that convinced to grab their coins like, CAKE, SUSHI, MKR, COMP, CRV, etc. Idk, maybe someone here on this sub can make a good business case on why to hop on a particular DEX coin.

Do you know what the UNI token is being used for?

Mentions:#UNI

Top 5 cryptos? Easy take a look at the market cap. I would do it like: - BTC / ETH (2 biggest ones) - DOGE / SHIB (Memecoins - hype) - USDC / BUSD (Stabelcoins) - UNI / CAKE (DEX'S) - some web 3.0 coin

Honestly not a bad 4. I’d swap UNI for something else though.. no promise they turn the fees on for token holders, and there will be continued competition in DEX. Just because it’s a good product doesn’t mean it’s a good token, just my .02 sats

Mentions:#UNI#DEX

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/109k9wk/daily_general_discussion_january_12_2023_gmt0/).

My 400 UNI airdrop which was worth like $20k at ATH.

Mentions:#UNI

LINK, ORE & UNI The first 2 are the strong and reliable web3 projects with massive utility, while the last one is a Dex token that will do wonder this year and beyond.

Mentions:#LINK#ORE#UNI

Be careful if they return revenues to the holders - that could sound awfully a lot like a security in certain ears. Referring mainly to UNI and the possible fee switch, others might be in the same line, haven't had a closer look at GMX for this. And once we're at GMX - what do you think about the enormous inflation? If it weren't for that I'd be loading my bags all day long :)

Mentions:#UNI#GMX

I believe the defi narrative will always be there every bull market. GMX, LDO, UNI, CRV etc. I plan to give them some love this bear

...coincident with Grayscale’s adoption of the index, the fund sold its holdings in Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), Polkadot (DOT), and Uniswap (UNI) after its quarterly review.

As a man who sold the UNI airdrop as soon as he got it I do feel some regret some times!

Mentions:#UNI

Not a bad question: I am a typical crypto investor. Got in late 2020, wanted to make a quick buck, made a lot more, stuck around for the tech. More elaborately, I've been won over, but I still look for that quick buck. DeFi is still young but I think it will really take off once BTC and crypto overall balance out more, which may take 1-3 more cycles or halvenings. AAVE and UNI performed well last run, Aave and Uniswap are still in heavier use, and have shown some strength in 2022 with any FUD brought up. I think these platforms will continue to grow and the best ones will survive. So, believing this about Aave and Uniswap, I expect people to flood into them 'to make money' off the tokens at some point, like in the past with DeFi summer, the early 2021 run, etc.... For the small DeFi market I think strong projects have a lot of upward potential for investors since so little capital can make them move and profits then to swap around within the ecosystem. Sorry, for the longer answer. But I'm just trying to explain my reasoning behind such a basic crypto bro choice.

Not out of disrespect, just to be better informed myself: why are you buying governance tokens like UNI or AAVE? I tend to look for tokens like Matic, which are used to pay fees, so you see where I'm coming from. Thanks for the insight!

Mentions:#UNI#AAVE

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/101s3ds/daily_general_discussion_january_3_2023_gmt0/).

No downtalking, just curiosity: why do you buy UNI? The token has practically zero utility.

Mentions:#UNI

I also upped by UNI dca because of it.

Mentions:#UNI

“Gotbit’s preferred crypto portfolio looks like this: 15% bitcoin, 15% EthereumETH +0.1%, 10% Binance, 10% PolygonMATIC +0.2%, 5% each for Chainlink, CardanoADA +1%, the NEARNEAR 0.0%Protocol, PolkadotDOT -1.3%, FilecoinFIL -0.7%, Uniswap, CosmosATOM -0.9%, CronosCRO +1.7% and AptosAPTOS +1%. They also like the new permissionless layer 1 blockchain Sui, but it’s not available to investors yet. They are bearish on LitecoinLTC -0.7%, Stella Lumens, Eos and MoneroXMR -1.7%. “I wouldn’t recommend investing more than 1% of your crypto portfolio to them,” Andryunin warns from his Lisbon office a few days before Christmas.” So BTC/ETH leading the way with some possible BNB, MATIC, then some of ADA, LINK, DOT, ATOM, UNI, NEAR, and Fil rounding out the majority.

i still have my airdropped UNI.

Mentions:#UNI

If you looking for a high risk vs high reward pla for your portfolio, take a look into Safemoon. It’s my major gamble for the winter. Of course, can’t ever stack enough sats. Some other interest of mine are CRO, CAKE, UNI, and BTC miners. Trying to get a big bag of ALGO sometime too. Definitely buying season. I know I am.

No, I asked you what made UNI token valuable since it doesn’t have utility (other than to take your money and allow you to vote) to back up why anyone would stack them. You then deflected (and continue to do so) that you mean the project as a whole. Which you continue to utterly understand the super simple concept that UNI token has fuck all to do with UNISWAP other than someone other than yourself can use the token to change things on the front end. You STILL can’t get past that and threw a tantrum due to your lack of understanding. You dug in, tried to manipulate me into thinking the token had value beyond speculation through either completely misunderstanding the token OR trying to pump your own bags, so yes, that in itself, is text book shilling.

Mentions:#UNI

LMAO. I followed it pretty well. You pedaled a shit coin. I called it out. You then dug yourself in making equally stupid arguments. Couldn’t understand super simple concepts of how certain aspects of uniswap are centralized(namely the front end and token) AND to top it all off, you name called like a petulant child. Couldnt understand basic things in investing how no fees(revenue) = no value. Have fun trying to pawn off $5 votes to some other person. It may work out, but I don’t like gambling. If you want to come over to the investing side I could teach you some things. Until then, good luck. Gonna need all of it and then some. Find me a stock where you only can vote, and has no prospects of adding dividends or distribution of profits down the road. Let me know it’s market cap and if you can even find it. Growth investing is OK. But it comes with the understanding the company at a future date will distribute dividends or buy backs with revenue. UNI token does not have that. You can take a guess they will do that, but there is zero requirement for them to do so as it is in actual growth investing. What you are doing is gambling. There’s a ton of dumb money in this space. If you can’t spot it… well… you know how the saying goes. Good luck!!!

Mentions:#UNI

What are your thoughts on DEX tokens? $UNI, $CRV, $KNC

What a lot of these “pros” in this comment section don’t get is most of UNI value comes from the project, not the coin itself. Uniswap is used by a “lot” of people and is only growing. As I mentioned earlier, they’re now moving into the banking sector. Look at the price history and it’s clear that there is upward potential. Now I’ll get these “pros” commenting on this post saying the price breaking $40 previously doesn’t mean shit, and it doesn’t. But it’s a fact that it did because the project itself holds great value to many people. So UNI gains value when the project increases in value. Not the other way around. Once you understand that, you’ll see most of these “show me UNI’s utility” arguments are just trash. And for the 100th time, I’m not saying anyone should buy UNI. I simply initially stated I see a good future for the project and wish I would’ve bought UNI myself. But I didn’t and you shouldn’t either if you’re not sure.

Mentions:#UNI

> No need for a go fund me. There’s already a way for people to donate UNI to pools and other teams on Uniswap they like. Then the people who receive UNI can sell it for their local currency or swap for something else. That creates value in the token whether you like it or not. There’s also a way for uniswap labs to do this. Hence, why it’s a bad take. People other than myself can chose to “donate” my fiat value without my consent. Something you fail to understand and convey. > Im pointing out why people might HODL this coin, not saying investing is a utility. I’m getting “nasty” because you’re hell bent on trying to make me wrong about saying Uniswap is a decent project. I simply explained some of the things you can do with UNI and you jumped on your ROI high horse. And I’m pointing out why people won’t. Quit with the goal post moving. I’ve already said the LP pools have value. I never said UNISWAP was a bad project. No need to deflect a bad take. I said UNI TOKEN is a terrible investment as of now. All this other stuff you just flung is pure goal post moving and deflection with a tone that’s not going to move this discussion. > I literally said I wish I would’ve been stacking them. I’ve never bought UNI and probably never will because I have my projects and will not stretch myself thin again to get into more. Also, Uniswap is decentralized crackhead. I’m only here discussing the specifics further because you’re trying to smear my character for simply saying I wish I would’ve invested in something. I pointed out how it would be stupid to stack a governance token. I’d that defames your character your have problems. Keep calling me names. It does nothing to further your argument, which the argument in itself is just as worthless as the token. UNISWAP AND UNI ARE NOT THE SAME. Jesus Christ. Get it through your thick skull. UNI TOKEN IS CENTRALIZED. [Read here ](https://insights.glassnode.com/uni-token-is-uniswap-really-decentralized/) This is just ridiculous. You can’t understand super simple things. Uniswap front end = centralized, uniswap token = centralized, uniswap back end contracts = decentralized. Super simple and stop using them all interchangeably to try and push a worthless thesis. To top it all off you name called to push this stupid narrative. You have ZERO clue how any of this works and it shows. If only a handful of people can push governance it’s centralized. Super simple concept bud. > Half the shit you’re “recapping” from our conversation is wrong so I wouldn’t expect you to understand a complex project. You’re literally what is wrong with humans, Karen. Please point out what I said was wrong. I told you how you implied holding UNI is beneficial. You said yourself this was the correct take on your previous implications. Stop pushing dogshit if you don’t want to get called out. You can’t even push a proposal let alone your vote doesn’t even matter. Why in the absolute fuck would I buy your vote for $5 right now let alone at a high price in the future? If you can’t explain that then your take is worthless as investment advice and speculative at best. This whole name calling and digging in to a gambling perspective is a problem. I called it out, get over it and grow the fuck up, Karen.

Mentions:#UNI#ROI#ZERO

1. No need for a go fund me. There’s already a way for people to donate UNI to pools and other teams on Uniswap they like. Then the people who receive UNI can sell it for their local currency or swap for something else. That creates value in the token whether you like it or not. 2. Im pointing out why people might HODL this coin, not saying investing is a utility. I’m getting “nasty” because you’re hell bent on trying to make me wrong about saying Uniswap is a decent project. I simply explained some of the things you can do with UNI and you jumped on your ROI high horse. 3. I literally said I wish I would’ve been stacking them. I’ve never bought UNI and probably never will because I have my projects and will not stretch myself thin again to get into more. Also, Uniswap is decentralized crackhead. I’m only here discussing the specifics further because you’re trying to smear my character for simply saying I wish I would’ve invested in something. 4. Half the shit you’re “recapping” from our conversation is wrong so I wouldn’t expect you to understand a complex project. You’re literally what is wrong with humans, Karen.

Mentions:#UNI#ROI

> Some people are willing to donate to get perks. Then set up a uniswap labs go fund me. Not a shitcoin that you yourself are pedaling. > A coin that has a certain value can be traded is not what I think it is? That’s literally half the stock and crypto game. You are attributing price to utility. Which this token has none. While stocks and *some* cryptocurrencies do. UNI does not. Which is what I’m explaining to you. But now you want to get all nasty now that I called it out. > People buy things they believe will go up in value so they can sell later. The thing they’re buying can be dogshit. It doesn’t matter. This right here. YOU are the reason people hate crypto. Pedaling literal shit coins that take your money to make the centralized owners more money (uniswap labs in this case). You can donate your money all you want to. Don’t get all butt hurt when someone calls you out. In your OP you said UNI is a great pick up (you imply more than a few hours hold) which is NOT what you do if you where going to speculative trade(gamble) on shit coins. So not only are you giving poor investment advice, you are giving terrible trading advice now. You are advocating for people to pick up this token so you can literally dump on them later. You said so much yourself. This is dispacable. Pedal useful coins, with a useful thesis and stop this. You yourself are aware it has zero utility. I’ll reiterate what I see here. Reddit user says buy coin. Reddit user gets called out for coin having no prospects to provide a ROI. Reddit user then says it may be dog shit but I can dump it on other people as long as I convince them it has more value (greater fools theory) in the future (long or near). This is disgusting.

Mentions:#UNI#OP#ROI

That’s not accurate. UNI can also currently help fund grants, partnerships, liquidity mining pools, and what not. There’s also the simple fact it holds value to people and can be traded or sold. Uniswap is growing into more markets, and recently announced credit card and banking projects. There will no doubt be more uses for UNI as these new ventures unfold.

Mentions:#UNI

I believe Uniswap is gonna be a much bigger player in the years to come. Wish I would’ve been stacking those UNI awhile ago.

Mentions:#UNI

It's a UNI-PARTY at this point. The money was not sent to help all Republicans it was to fight the MAGA caucus within the right, which in turn also favors the dems.

Mentions:#UNI#MAGA

Yeah and ADA, DOT, UNI, LINK are all dead too because they’re down like ~90% as well? The fuck out of here with this logic. I’m no link fanboy, but this is nothing. The markets are what they are right now. Only a handful of luck alts aren’t bleeding as much. And that doesn’t necessarily equate to long term success.

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zt13k8/daily_general_discussion_december_23_2022_gmt0/).

NEO, EOS, ADA. They survived the last bear market. They'll survive this. My personal choices are UNI, SUSHI and CAKE. Yes, I really like dexes and I'm VERY pro descentralization

You should check UNI, one of the best dexes I've used. The different fees and pools makes it the best I have seen. Tbh I think it has a great future

Mentions:#UNI

You bought at a high, and will just have to ride it out. If you want to really make her change her mind, get a second job or earn every penny you can and keep buying in the down market now. Then come back in 10 years. Your ‘21 buys wil still likely beat the stock market over the same time, and your low buys will crush it. Buy ETHEREUM. other than that, you really need to understand the market. Some very solid buys which are being used, developed well, and have market share. ALGO LINK GRT UNI COMP

Is there any point in investing into UNI/Sushi? Wouldn’t there be an incentive for liquidity providers to sell these?

Mentions:#UNI

Thanks for the reply! Hmm.. I don't think there's a way to stake UNI, unfortunate, but I appreciate the suggestion!

Mentions:#UNI

So are you trying to show pointer at OKB to be the next exchange token like we've seen in the past with the likes of BNB, UNI, CAKE, etc or I should just continue to focus with those alts utilizing web 3 technology as seen with the crypto payment gateway service provider.

Not true. Pancakeswap does not require you to hold CAKE to make trades (as a consequence CAKE is a shitcoin). Uniswap doesn't require you to hold UNI.

Mentions:#CAKE#UNI

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zlbetm/daily_general_discussion_december_14_2022_gmt0/).

Saved you a click! 1. ETC 2. XRP 3. BNB 4. LIDO 5. BUSD LOL! 6. Chiliz 7. MATIC 8. UNI 9. TWT 10. ATOM

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zjfh30/daily_general_discussion_december_12_2022_gmt0/).

I like Sushi. Don't know why, since it's an UNI rip-off, but I do.

Mentions:#UNI