Increase in DEX operations

Hello everybody! I’ve had tokens invested since the beginning and I really like Wingriders’ work, including the wonderful look. However, I don’t see a satisfactory marketing action for DEX to become known to the public (F1, UFC, NBA, Manchester United? haha maybe). I don’t have a strategy in my head. But this would increase the number of operations… Better than talk about the environment… I’ve seen that the costs of operations at WingRiders are higher than at others DEX. This greatly reduces competitiveness. Otherwise, congratulations on your work and attention.

3 Likes

hey Luca!

Thanks, I’ll make sure to pass on the kind words and feedback to the team.
For marketing you’re thinking quite big there, haha. There’s actually some promotion happening within Cardano ecosystem, with the aggregators like Taptools & Dex Hunter. Wingriders DEX has had banner ads there and the like. Speaking of aggregators, these are a very popular way to do swaps now, which I think all DEXs, including Wingriders, will benefit from with a boost in usage and trading volume.

I’m not sure what you’re referring to with operational costs being higher? One thing that comes to mind is that the LP fee on Wingriders swaps is slightly higher (0.35% on Wingriders vs 0.25% on Minswap) which is actually to the benefit of liquidity providers as this means higher fees back to them when providing liquidity on Wingriders vs other DEXs, while still remaining competitive for the average DEX user.

Thanks again, and feel free to discuss here or continue on our Discord for further chat with us and the community!

Hello Ikka. Thank you for your feeback. Yes, I exaggerated the marketing options. But that’s ok, I trust your work.
Regarding this difference in fees between DEXs, I think that for those of us who receive the fees it is great, but for those who just want to exchange currencies it is more attractive to use the cheaper ones. If we could reduce fees, perhaps we could gain from the greater volume of operations. I’m not sure but I think this difference in rates takes away our competitiveness a little.
Great job. Success, health and peace.

Luca

1 Like

Dear friend, I would like to make a suggestion but I need to get some information from the community.
PancakeSwap, which operates through BSC, has a very interesting game that moves the CAKE token a lot. The person needs to agree on the BNB value 10 minutes in advance, whether positive or negative, 5 minutes of counting and a processing delay. A real Casino, but whoever wants to play. I recommend you see for yourself.
I think it would be interesting if WingRiders had a similar game that moved the platform and encouraged interaction. To suggest this, is it necessary to open a project for voting? How detailed does an idea like this need to be?
Thank you for your attention

1 Like

for reference, it’s this one right?
Something to think about, we’ve done some competitions before but they have revolved around swaps within the Wingriders DEX where you’ve been able to win prizes trading at certain times/volume: https://app.wingriders.com/competitions

My main concern here is compliance and legality… whenever you do something like this that revolves around casino, gambling and the like it will be problematic. Not sure how pancake swap is handling it but I do know from past we’ve stayed clear from anything relating to gambling. So not sure if I can recommend putting this one in particular up for discussion. but it’s an interesting idea in general and maybe something else will come out of it later…

In general and for any DAO Proposals in future: it would be best to start a DAO Proposal Discussion first using the DAO Proposals category (+tags) in this forum. Best thing you can do there is to introduce your plan clearly, in as much details as possible so we can then discuss it first.

Once there’s a good plan out and discussed thouroughly anyone can go ahead and create an on-chain DAO Proposal for it, via the DEX app Voting page. This part can be hard to gauge; when can you say a proposal is ready to be put to a vote. All I can say is god proposals usually have majority agreement, well thought out consequences and a realistic path to implementation. This will require to upload any proposal documentation via IPFS first, then deposit 5000 WRT collateral. This collateral is sent back once the proposal passes. If the proposal happens to fail, the collateral is locked into a timed contract and sent back in 6 months. We’ve also seen the proposer ask for a small compensation for the risk and time put into making a proposal, where they have included a condition of 10% reward of collateral put in in the case of a successful launch.

Ikka, thanks for your attention.
This is the game. It looks like a trade, you need to use the chart. I find it very interesting and it pays well when it hits the trend.
I’ll think of something more suitable. Thank you once again.