In the DeFi world of ICP, it seems that WICP will be required for exchanging tokens, can someone help answer why from technical point of view? In ETH, we even don’t need WETH for exchanging tokens in a DEX, but in ICP, so called the web3 solution, but it seems that we will have to use WICP to exchange other tokens rather than just ICP for the time being, anyone know technology can help me answer why? If so, who will come to #ICP to play DeFi? Dfinity tells us that the BTC in the #ICP will be the real BTC, but it seems that in the #ICP DeFi world, seems that even the WICP is not the real ICP, who will believe and come to play in #ICP ecosystem?
Is it possible in the future we could use ICP to exchange rather than using WICP in DEXs?
Good question. I don’t have an answer. I don’t see why we shouldn’t be able to use ICP for direct swap. Perhaps the capability isn’t here yet but will be in the future.
@dominicwilliams may be able to help answer? When will be able to use ICP to swap rather than a wrapped version? If not currently, can you just focus on the solution rather than being full of tall tales while at the same time criticize other solutions such as avax, sol all the time on twitter?
I don’t understand why but really hope #ICP will be getting stronger, can some other developers help answer why?
It is all about control. WICP is totally in the control of the developer of a DEX. None of the existing DEX has published their code, or did a fair and transparent launch. And people are wondering why they didn’t get any traction… LOL
Why are you asking Dom for help? To help what? If you want to swap, you can already do ICP → WICP → XTC, or in the other direction on either Sonic or IC Lighthouse. Why are you not doing it? Why are other people not doing it? Is Dom supposed to answer these questions?
It is all about liquidity. No liquidity, no profit, no use case. Why would anybody in their sane mind want to swap on IC? Why can’t they just swap on Binance, on Coinbase, on Uniswap?