OKX DEX "trump card" and "new blueprint" after the upgrade and return | Space's activity perspective highlights

Compiled by: momo, ChainCatcher

After more than a month of dormant, OKX DEX has recently resumed online and joined forces with ChainCatcher to hold the "Upgrade, OKX DEX's "Killer Arms" and "New Blueprint" X Space event.

During the Space event, Shawn, the product manager of OKX DEX, answered questions about users' concerns such as the core changes, highlight functions and new strategic planning after the upgrade of OKX DEX.

Mr. Block (@mrblocktw), I Yaoyaoa (@anyaoyaoa), Zishi (@silverfang88), Web3 product manager Yue Xiaoyu, Rocky (@Rocky258459), HK Lei's blockchain member Niu Yingjun and other encryption KOLs shared their recent strategies and experiences on-chain transactions, as well as their expectations and suggestions for the future functions of DEX.

The following content refines the core point of Space's discussion. (The full version can be clicked to listen to the playback: https://x.com/i/spaces/1mrxmPeXdEkJy)

1. Host: In the more than one month of suspension of service, what key things did the OKX DEX team mainly promote? What are the core changes in the upgraded version in terms of strategy and product? Are you actively "pause" at peak traffic moments, afraid that your market share will be taken away?

Shaw n, Product Owner of OKX DEX : During this period, our entire team did not stop, but instead became busier than usual.

On the one hand, while maintaining daily functions, we have added the upgrade of transaction product safety and risk control systems, which are very important tasks. Now our risk control system is more powerful than before and can achieve real-time interception. In the industry, there are not many platforms that can intercept black industry attacks in real time. We can do this thanks to the accumulation of our entire group.

On the other hand, when we return after the product upgrade is completed, we will feel a significant increase in transaction speed. The team has made significant improvements in trading capabilities, including trading speed, anti-square-size capabilities and intelligent degree of smart slippage.

We have some test data internally, which can now be launched quickly. In specific scenarios, we can even complete order operations within the same block. For example, when we receive a signal and determine the address to follow, we can complete the transaction within the same block as that address.

In addition, our market products and token analysis capabilities have not stopped . We continue to launch new features such as the Great List Signal and Wallet Tracking, and our page richness has also been greatly improved.

From the initial simple interface to the rich features today, we have made great progress. In the future, we will launch more new features, covering transaction capabilities and analysis capabilities. These functions are "black technologies" in the industry. The specific details are temporarily kept confidential, but you will see them soon.

Regarding market share, this is also a good question. Since we started suspending services, we may have been discussing why we made such a decision and whether we are afraid of losing market share. To be honest, as an employee, market share is of course an important indicator of our business assessment.

But judging from Star's usual tweets and the ideas he conveys internally, he believes that corporate values ​​and social responsibility are more important than market share and are also what we should do. So, I think this is an important reason why we can actively press the pause button.

In the future, our overall strategy will not change much, and we are still committed to serving our users well. Of course, now our entire team, including myself, is more mature than before. In the past, we might think that a certain skill can be used, but after we went deep into the user community and communicated with many experts, we realized that this was far from enough. Now, the mentality of the entire team has changed, and we will develop functions more in line with the user scenario rather than taking it for granted.

2. Host : What are the key plans for OKX DEX next? What is the primary goal in the short term?

OKX DEX Product Leader Shaw n : Our goal in the short term has not changed significantly. Our product strategy has been optimized, and the goal is always to serve on-chain users such as "P young players". However, our recent focus plans mainly include the following aspects:

1. Improve transaction decision analysis function . In addition to the underlying product capabilities mentioned just now, we will also add more functions to help users conduct transaction decision analysis. In terms of speed, we will still improve it to the extreme.

2. Solve industry pain points . We found that there are some pain points in the industry, such as the Pixiu Pan on the list, and we need to better block these risks and protect users. In addition, MEV has always been a pain point in the industry. Before we suspended services, there was also a major MEV problem on the edge chain. We are working with the Edge Chain team to strengthen protection in this regard, which is also an important point in security.

3. The balance between self-custody and transaction speed . Are self-custody and transaction speed contradictory? Does the user's own private key mean that the transaction speed cannot be as fast as other products? This is not a solution, we have found a solution and will use it as the direction of the focus layout. I believe this will be an innovation in the industry and everyone will see the results soon.

4. Continuous investment in memecoin . Although the popularity of memecoin is currently on the decline, and some users have even temporarily stopped participating, memecoin itself is cyclical. We are not sure if there will be a bigger boom in the future, but our investment in this area will not decrease. We are strengthening trend tracking and notification capabilities, such as wallet address tracking and notification functions, and we have invested a lot of resources to improve this part of the functions.

5. Discover market trends in advance . In addition to notifying users after the market has formed a trend, we are also studying whether it can be discovered and notified users before the trend is formed. Because the popularity of memecoin must be that there must be a topic first and then there will be subsequent market reactions. If we just follow the tokens, we will be one step slower. Therefore, we are also exploring whether we can follow the topic and make arrangements in advance.

In general, the above points are the directions we will focus on research and layout in the future. These contents are also product capabilities that everyone may pay more attention to. As for the specific product form, we are not completely sure.

At present, the entire industry is trying different solutions, and there is no fixed model, but this is exactly what drives the industry's progress: everyone is exploring the unknown, trying different answers, and seeing who can better serve users.

3. Host: From the experience of on-chain transactions, everyone is OKX ********What are the expectations and suggestions for DEX 's functions?

I Yaoyao a : I hope to support several wallets to buy a CA at the same time in the future. Because I often use multiple wallets to buy the same CA, if this function is available, I should be able to save a lot of time in the future. Can this function be implemented?

OKX DEX product manager Shaw n : We have also learned about this function before. Generally, giant whales have needs, and we will study it later.

Yue Xiaoyu : Judging from my personal user experience, I focus most on three aspects:

The first is the trading threshold , which shows the friendliness to novice players. I am not a very professional on-chain trading player myself, and I am still in the learning stage. So regarding the transaction threshold level, I would like to ask whether OKX will provide more product experiences that can lower user thresholds in the future.

Specifically, some on-chain trading tools on the market provide functions such as "chain abstraction", that is, users can charge any tokens and directly trade with fiat currency equivalent during transactions, without having to worry about gas fees or switching to different chains. Because OKX itself has aggregated the liquidity of multi-chain, can it be integrated into cutting-edge technologies similar to chain abstraction in the actual transaction process to provide ordinary novice players with a lower threshold and closer to traditional Web2 financial products?

The second is trading speed . Trading speed is the lifeline and it is also the key point for players to intuitively feel whether the tool is easy to use. Although OKX's current trading speed is already very silky, will it make some more significant improvements in trading speed in the future?

Third, in terms of trading strategies , OKX currently has market orders and limit orders, but like other products, it even provides contract trading and matching bots to make various strategies. So, can OKX provide more decentralized trading strategies in the future, including on-chain contract trading and various strategic trading?

OKX DEX Product Director Shaw n : The points mentioned by Teacher Xiaoyu are very critical, especially the second and third points. We have already achieved relevant results.

In terms of transaction speed, I believe our speed should be the same as GMGN. On our latest version, I also need to confirm when we will officially launch it. Because we have just resumed services, we want to slow down. After the service is more stable, we will gradually launch the functions in the laboratory.

Regarding the trading strategy part, this is definitely a very important feature that everyone will use, and we have been doing related work. There are actually many types of trading strategies, such as the simplest limit order, more complex stop-profit and stop-loss, mobile stop-loss, and even the order strategy that we combined off-chain data, as well as other more advanced combination strategies. In fact, users are using it, but the frequency of use is different. So we will definitely continue to improve this part and the team is also promoting it.

Regarding transaction threshold, I think this is a bigger topic, and it is indeed a question that we will encounter and think about in the industry. For example, whether to remove the concept of chains and directly realize the ability to trade with fiat currency or other tokens without having to deal with chains and Gas is a goal we have long imagined in the industry.

But it is not only a problem of function or product, but a problem at the strategic level of the entire company. Should we do it? Should I do it at this time? I think this may require Star to answer.

Of course, we have not ignored this research internally, but I have not yet obtained more information on how to do it. Whether it ultimately conforms to our company's strategic direction needs further discussion. If there is more information, we can discuss it in depth.

Rocky : During the OKX DEX suspension, I have been using GMGN. GMGN does not need to import private keys, and I don’t need to hand over the private keys of the wallet to it. I just need to click to buy them automatically.

But now using OKX wallet, I need to confirm it in my wallet again. From the perspective of user habits, this makes me need to adapt again.

I want to know if OKX can also launch similar features later, so that I don't need additional confirmation steps.

OKX DEX Product Leader Shaw n : From a technical point of view, it is easy to implement this, but the key lies in how to grasp that boundary.

Specifically, is the issue of the ownership of private keys and wallets entirely controlled by the user, or is it placed on our server for hosting? This is the core of the problem.

But no matter what, the user needs are the most important. It is completely reasonable for users to hope that the transaction process will be more convenient and do not want to take one more step.

As for how to implement it, this is a problem that our product managers and technical team need to think about and solve. I believe there is no problem with the product itself, we just need to find the right solution. I am confident that we will definitely solve this problem.