Decred Founder Proposes Building DEX as Alternative to Binance [Interview]

Decred founder Jacob Yocom-Piatt recently proposed a decentralized exchange to the Politeia community.

In the initial post announcing Politeia's launch, Yocom-Piatt wrote, "Politeia allows Decred users and stakeholders to propose, discuss, collaborate on, and fund new projects, initiatives, and consensus changes. If stakeholders exercise bad judgment, it can have serious negative consequences."

Proposals can take two forms: ones that stir voter support for a change of policy or those that will fund projects from the Decred treasury.

One of the major issues for the Decred founder was the number of problems he has seen regarding centralized exchanges.

To combat such front-running, the Decred DEX proposal would implement pseudorandomly matched orders in which interested market makers would be shuffled upon order arrival.

Other features of the DEX include the use of atomic swaps, crypto-only trading, and trading transparency in which all trade data is cryptographically signed and publicly demonstrable.

Some have commented that all funds from the treasury should only be used for Decred development, while others have explained that the DEX proposal is overkill.

Adding to that, the Decred founder said the primary focus for the exchange will be to protect traders from price slippage.

Regardless of Yocom-Piatt's motivations behind the proposal, it is ultimately the Decred community who will decide.

To proposal will open to voting on Yocom-Piatt's approval, and so far has only been open to comments since Feb. 5th. However, if the proposal is passed the co-founder claims that the DEX could be built within six months.