DYOR Exchange: De-Risking the Web3 Trading Process for the New Generation

 

Amid a crypto landscape where a lack of knowledge often turns away potential users, DYOR Exchange is bridging the knowledge gap to enable easy access to the world of DeFi and Web3

Given that an estimated 90% of cryptocurrency traders end up in the red, one might be tempted to simply throw in the towel. Research suggests the vast majority of traders typically suffer from three main disadvantages: poor education in the markets they participate in, faulty trading systems, and weak trading psychology.

However, some very smart minds have been busy at work trying to find a way to confer all the advantages held by the privileged 10% on to the rest of the trading market.

One project has been busy eradicating the three disadvantages named above by allowing the previously doomed 90% to benefit from all the education, trading strategies and operational psychology wielded by the top 10% of crypto traders.

Swipe Right to Profit


Imagine a platform where trading in the DeFi (decentralized finance) and Web3 space was as simple as swiping right on a modern dating app; where users could benefit from the trading strategies of the top 10% and apply their professional insights to their own trades.

That’s the concept behind DYOR Exchange, the decentralized ‘social-investing’ app where trading novices can learn from the best in the game and benefit from their shared insights. The social aspect of DYOR Exchange allows beginners to copy the trades of seasoned veterans and engage in focused community discussions in a social, knowledge-sharing environment.

With its focus on education and the sharing of knowledge, DYOR Exchange’s pioneering approach works to demystify the previously impenetrable world of crypto trading, making it more approachable and less risky for newcomers and experts alike.

Key Features and Functions


DYOR Exchange is a decentralized, non-custodial trading app for both iOS and Android that boasts native compatibility with multiple blockchains and over 30+ popular cryptocurrencies. Investors holding tokens from chains such as Ethereum, Binance Smart Chain, Polygon, Avalanche, and other EVM-compatible blockchains can enact gasless (free) trades, and interact across multiple networks without undergoing the risky process of cross-chain bridging.

The user-experience is a mix between popular trading platforms like Robinhood and modern-day dating apps like Tinder. Users are presented with trading opportunities and simply swipe right to invest, swipe left to skip, and swipe up to add to a watchlist.

The decision-making process is made easier by giving traders access to user-generated statistics, market updates and alerts, and the ability to follow successful traders and copy their trading strategies – bringing all the advantages of the top 10% to the average trader.

Beyond the trading process, DYOR Exchange combines the best aspects of social media to help traders along in their journey. Community discussions help spread market insights among every user on the platform, while interactive trading challenges, community rewards, and governance participation help stoke engagement, while giving the users a real say in the future direction of the platform.

The platform’s native token, $DYOR, brings various utilities beyond investing, including staking – where users can temporarily lock-up their tokens in return for passive income, as well as revenue sharing from swaps, and also acts as the key that unlocks access to premium features on the platform.

Problems Solved by DYOR Exchange


As one of the main attack-vectors for hackers, token bridges have been the primary source of losses in the crypto space, with an estimated $2 billion lost in 2022, and similar losses in 2023. DYOR’s native cross-chain compatibility eradicates the single largest threat to user safety in the cryptocurrency space, while simultaneously providing easy access to the most popular blockchains in the industry.

Additionally, the non-custodial nature of DYOR allows users to retain control over their funds at all times, meaning no user is obligated to have blind trust in the platform or its developers.

Some research suggests that as much as 57% of people who would like to invest in cryptocurrency refrain from doing so precisely because of a lack of knowledge on the subject. By tailoring its approach around the sharing of knowledge, DYOR Exchange not only helps those who have already taken the plunge, but also actively encourages new users to engage with the Web3 space by making crucial knowledge easily available from the get-go.

The Future of DYOR Exchange: Partners and Expansion


DYOR Exchange is still in the beta stage of development, but has already been downloaded over 4,000 times, and has garnered a waitlist of over 420,000 would-be investors.

The project has received the backing of major cryptocurrency investors and household names such as Master Ventures, Cointelegraph, Moonpay, Uniswap, PancakeSwap, and many others. The partnership with Moonpay allows DYOR to benefit from Moonpay’s smooth fiat on-ramp and low transaction fees, making it easy for users to exchange their fiat for cryptocurrency and get their trading journey started.

Future developments include expanding the platform’s native compatibility with more blockchains, and fine-tuning its core functions to create an all-encompassing hub for users taking their first steps into the world of crypto.

With its unique blend of social dynamics, educational focus, and familiar user-interface, DYOR Exchange is carving out its own niche in the cryptocurrency space, applying a user-friendly approach which is tailored for the modern investor.

 

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.