🧐 CZ proposes to create decentralized exchanges with a dark pool
Amid the recent liquidations of large LONG positions of James Wynn (the same one), Changpeng Zhao came up with an idea - it's time to launch a DEX of perpetual contracts, where no one can see orders and liquidation points.
Key thoughts:
⊹ On DEX, orders are visible to everyone in real time - MEV attacks, front-running and worsening execution prices are possible.
⊹ In perp contracts, it is especially dangerous to show liquidations - the market can work against you.
⊹ In TradFi, large players use dark pools - they are 10 times larger than regular markets.
⊹ Even if you have $ 1,000,000,000, you can be "wiped out" if everyone can see your position.
⊹ Solution: on-chain perp DEX with a dark pool + ZK technologies.
⊹ Hidden order books, hidden deposits, protection from attacks.
