Decentralized exchange

I don't want to be waiting and paying half a percent, a percent, and even more.

Like if I were selling a house, for example, versus a fair value, I want to be able to enter and exit a position right then and there.

at the fair value so i think it's interesting we only talk about fees right but fees are one of the costs of trading the other cost is this illiquidity or you know we call it the spread and so on and so forth um so this is kind of the other big advantage of variationals liquidity aggregation model and it expresses itself in two ways when we're trading on crypto we're aggregating liquidity from as many sources as you can centralized exchanges decentralized exchanges other dealers and this can help improve execution zero fees lots and lots and lots of listings but the bigger thing is for rwas you put it perfectly right when we talk about our ambitions to list hundreds if not thousands of different rwas and traditional market underlyings we're not rebuilding that puddle of liquidity every time with that puddle eventually meaning huge costs to users and in many cases not even really a tradable user experience we're bridging liquidity directly from tradfi where we take these best markets in the world for trading these things and bring that cost savings to the users so i think about it kind of all in the vein of cost savings and tradability.

Our goal is to make it as efficient to trade on variational as it would be in the traditional markets for these assets.

And I think that's really where we have a zero to one moment for RWA trading on chain.

It goes back to that idea we were talking about earlier in Hubris.

We're trying to innovate in terms of bringing not just on-chain traders onto a new type of derivative and a new type of platform architecture.

Again, guys who might be used to trading on order books, trading on centralized and decentralized exchanges, trading on perps.

You may have often heard of a centralized exchange or CEX.

like coinbase on the other hand decentralized exchanges are platforms that run on software where you can connect your wallet to trade one crypto for another without handing your crypto to a company first here's an analogy to remember this one by a centralized exchange is like a grocery store You walk in, pick what you want, the store sells it to you, and they're in charge of everything on the shelves.

A DEX is more like a farmer's market.

Different people show up with what they have, and you trade directly with them, without anyone in the middle.