Hello everyone. I am sorry if that question has ever been answered, however, I wonder everyday. I seem some people ever talked about this, but it seems important to remind this question.
Is there any plan from Dfinity to introduce a DEX / SWAP as part of ICP core.
If not, can we really trust DEXes created by some unknown teams ? Can’t they just exit scam ?
From my point of view, after the SNS deployment, it seems to be a priority.
Great idea starting a thread on this 
an optional native assets layer would help a lot with trust and performance.
tokens with custom stuff still exist at the canisters layer
and tokens on the native asset layer can be optimized for speed and trust that can’t be replicated at the canister layer
I would like to say I am sorry to post a so short message, I would like to elaborate my post, but I didn’t because I’m not enough fluent in english to write developed ideas. I wish to be able to participate more in conversations but I realize that I must seem to have the vocabulary and intelligence of a child. Which doesn’t make me credible.
Recently I tested ICDex . Your question proved me I am not only one who is a bit scared. ICDex is a new dex with order book,it works fine,although there was a issue with canister.After I noticed something is wrong ,and sent them message ,they responded and soon refunded my tokens circa 60icp.Will they refund me for much larger amount ?What if I never found this issue ?
the internet computer is a platform
and DFINITY shouldn’t compete with it’s own ecosystem of developers
building the best platform for web3 definitely includes having a trusted native assets layer
so NO more wrapped ICP on the internet computer please
The XRPL has dex functionality built into the core network. I suppose this is one of their competitive advantages (to be seen), the idea being that besides better and smarter engine, you can share the liquidity better throughout the ledger.
Interesting idea. This would also enable large amounts of liquidity to be safely delivered to individual SNS projects on such an “NNS Dex” using tokens derived from dissolved ‘Neurons’ Fund’ neurons.
Interesting thoughts here. what about using the XRPL with ICP infrastructure/tech stack?
This is a very interesting question and I have been thinking a lot about what that may look like.
It seems to be a brute waste of resources to have 10 - 20 large liquidity pools for BTC - USD. They should share this liquidity, while builders should be incentivised to participate and compete on fair turns.
Not many know that among various standards, the ICP is building out ISO 20022 Compliancy, this new standard is the new financial standard for transfers of value, such as money, debt, equity, derivatives, forex etc. Basically, this opens up ICP for a quadrillion-dollar yearly market for payment messages and financial settlement.
Dfinity Forum ISO 20022 discussions and links to github:
The ISO 20022 standard is important because it enables all corporates, all banks, central banks, payment providers, and governments, even stuff like robots, to pay (AND SETTLE!!!) lightning fast even though they may use various types of currencies.
Bitcoin has a great store of value (but needs scaling as ICP provides, liquidity and smart functionality)
XRP Foundation and Ripple are working on liquidity, their thesis is that liquidity begets liquidity and there would be one hub/liquidity pool that is dominant, this is relevant for the reason that the world is becoming multi-polar and coalitions or regions such as BRICS wants more independency from trading everything against USD. One notable aspect of XRPL is a slow roll-out, they invented DEX and they invented Smart Contracts, for example, both Justin Sun and Vitalik Buterin were involved early in Ripple. XRPL is I believe trying to position itself as the backbone for payments and settlement in the global ecosystem, and they are not likely to spit out technology at keep up with the innovation at a level of ICP.
EVM (Ethereum) seems to have be championed by banks, currently, it is the standard for blockchains (Defi) and for example, JPM uses this type of environment for ever-increasing volumes of payments.
ICP role in such systems can be the underlying infrastructure, such as decentralized hosting / true (corporate) DEFI. Front End and giving interoperability connecting various crypto tech.
Bitcoin which does not follow the ISO 20022 standard, and likely would struggle to have this built out can still benefit from global payments, scaling on top of other solutions. Putting Bitcoin on a level playing field with the USD, Gold, Mastercard, etc
(Pay with anything, receive anything, anytime, at lower cost, faster, without locking up trillions as collateral)
It does seem intuitive to me that ICP may be one of the missing pieces of the puzzle, complementing all these other various systems.
But I suppose there is 1000 different ways to facilitate - adding blockchains on top of ICP infrastructure is (I think) a large advantage. And if someone then wants to use Ethereum Virtual Machines and liquidity from the XRPL, that is one way to go about things. Basically, Elon Musk should be definitely be looking at ICP for whatever he is trying to accomplish.
In the future, I imagine you can do peer-to-peer blockchain transactions - currency agnostic. This may be possible with online identities such as the Internet Identity.
Lower-hanging fruit is probably facilitating banks, and payment providers to build on your infrastructure, because these safeguards the end users - corporates and grandma’s bank accounts, and they are not gonna give up their immense power, liquidity and customer base without a fight, which is possible under current regulatory landscape.
(The banks are currently cannibalizing each other, let’s not intervene nor give them a common enemy to unite against).
Instead of creating a dex as a core technology, perhaps ?? developers can explore also solutions such as “sharing liquidity on a core protocol level” which gives advantages to everyone in the world who is looking to build dexes, and, engines for routing orders the cheapest route. (Not sure how things are built, maybe these solutions are already built)
This is a great answer, the best I’ve received. Thank you. I can see how ICP could be part of our stack but did not see anything in the docs that really said it is possible. Now I need the how and a flow diagram to show how that would look. I’m not a developer so I am looking for assistance with that from the community to have a clear understanding and path. I was very skeptical about ICP but it seems it truly is what we need to create a decentralized platform and an ecosystem. I will continue to do more research and always open to suggestions.
Yeah, I believe we have perfect storm here. Financial institutions are basically forced to switch to ISO20022. Swift will discontinue old standard, Fed is pushing it as well. Such transitions are very costly, so this spec is here to stay for decades. Very low appetite to adopt something else.
I think that UTOPIA based solutions can play major role here, I doubt that financial institutions will use public ICP.
The mother of storms indeed best rdobrik -
There is a ever growing public interest for any tidbit of ISO 20022 blockchain related updates - and I find it extrusively frustrating that there is so little informational resources available for the public in regards to ICP on this topic.
Being one of the bigger talking points in crypto with tens or hundreds of thousands of followers, yet people who spent thousands of hours of research on the topic never ever heard about ICP.
I would love to start a dialogue, please can you spare one hour of your time for me some day? I have contacted you in person but you never got back to me. Please.
Regarding Elon Musk and ICP, I doubt he would use something he cannot control. But with UTOPIA that can be a different story. Imagine having UTOPIA node on each Starlink satellite? Global tamper proof network, accessible from anywhere.