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A new step for Waves DEX development

Waves | 05.31| 391

We are prioritising Waves DEX for the continuing development of Waves Client. It will now be a standalone, trading-focused product.

Waves is continually striving to improve its platform, making it as effective and user-friendly as possible. Following research and feedback, we have decided to prioritise trading as the main direction for the future development of the Client app..

The changes will affect the desktop Client in the first place. Up to this point, we have developed the Client as a universal application with broad functionality. Over a period of almost three years we have collected feedback, analysed user behaviour and, ultimately, come to the conclusion that we need to change the product in the interests of users.

What is the user experience?

Analysis of user activity shows that the vast majority spend their time on the platform using Waves DEX. Wallet functionality and Leasing will remain an integral part of the application, but the priority for product development from now on will be on trading tools

What will we exclude?

We must consider the additional functionality within the current Waves Client that we are planning to separate out. At this point in time, the Client allows users to install scripts on their account — but we know that these functions are overwhelmingly used by developers alone.

We will therefore not support the ‘set script’ function on the decentralised exchange itself. Instead, this will go into Waves IDE — where there are already all the tools for creating and debugging such scripts. However, we will be leaving functionality for setting a script on an asset (and converting it into a Smart Asset). This is necessary for those who want to issue tokens on the Waves Platform and apply business logic to them. Any token issued on Waves will still automatically be listed on DEX.

Social media updates

For more effective development of products, we have decided to open a dedicated communication channel for our audience of traders. Discussion about various aspects of trading will occur on our new Twitter account.

Along with new social channels, Waves DEX will also have a new website. The exchange will be available on the domain dex.wavesplatform.com, but when users navigate to this domain, they will be redirected to client.wavesplatform.com. This is to ensure that all saved browser passwords continue to work.

In addition, we have changed the exchange interface:

  • Redesigned navigation
  • Moved menu to the top of the screen
  • Added 25%, 50%, 75% and 100% buttons in order setting

What will happen to the mobile app?

The mobile application will be developed according to the same principles, improving exchange functionality for users. If we see that people are using some functions more than others, we will adapt the direction of product development to their needs.

DEX development plans

As previously stated, we will adhere to our roadmap and do not intend to deviate from it — all the promised functionality will be implemented according to our existing plans:

  • Multiple Accounts. Users will have the ability to switch easily between multiple accounts within the DEX.
  • 2FA. Two-factor authentication will give Waves DEX users even greater security.
  • ERC-20 Gateway. Addition of an ERC20 token gateway to the Waves ecosystem, meaning that popular Ethereum tokens can be traded on the platform.
  • Market orders. Traders will be able to sell tokens quickly at market price.
  • DEX optimisation. Improvements in DEX speed and memory requirements will be implemented.

We are also going to release a more convenient API for bot trading and optimise the UX/UI, implementing best design practices from the trading space.

Feedback is welcome
We have created a thread on the Waves forum to gather your feedback. If you have any suggestions for adding new features, please leave them here: https://forum.wavesplatform.com/t/waves-dex-feature-requests/14926

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A new step for Waves DEX development was originally published in Waves Platform on Medium, where people are continuing the conversation by highlighting and responding to this story.

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