The assets digitization are part of the digitization process of human, just as the wave of digitization over the past 20 years or so has profoundly changed the way humans produce, live, and socialize, transforming media, entertainment, social, communications, retail, finance, and many other industries. Some $10 trillion in traditional assets are now traded globally every day, and these assets are being digitized at a rapid pace. For example, every streetwear shoe can be a token, every lawyer can issue his own token, every piece of art can be a token, and the development of NFT has led to the emergence of a huge number of tokens, and hundreds of cryptocurrencies are born every day in the world.
For the large numbers of long-tail tokens, there is a need to provide consumers with an easy-to-use platform where they can buy and trade. The current issues with centralized exchanges (CEX) include time-consuming listing processes, high listing fees and overcentralizatized, making it difficult for a large number of long-tail new tokens to list on the exchanges.
The “Swap” model of decentralized exchanges (DEX), such as Uniswap, is favored by token issuers for its features of fast listing and audit-free. Hundreds or thousands of tokens are listed on Swap every day, but Swap still has drawbacks such as not easy to use and high fees. Swap has less than 2 million users worldwide, which is still a small base compared to CEX’s 100+ million users worldwide, so Swap is unable to meet the demand for long-tail token uplisting.
So far, there is no open market for digital assets in the world that satisfies the demand for issuers to list autonomously and allows consumers to purchase any tokens in one stop.
Recently BestTrade has undergone a massive upgrade to become an exchange that allows issuers to list tokens on BestTrade freely just like Uniswap. Issuers can list their tokens in real time without listing fees and no centralized approvals required.
BestTrade is an open trading platform for cryptocurrencies, offering users a rich and complete coverage of new and emerging tokens.
BestTrade is an open trading marketplace with a platform model where each issuer can issue, price, and announce on its own and interact directly with users.
Anyone or institution can list their tokens in real time with no listing fees or centralized auditing.
If Coinbase and Binance are more like Amazon direct sales or Jingdong direct sales, BestTrade is more similar to the platform model of Taobao and Amazon’s e-commerce platform.
BestTrade’s platform model is more transparent and autonomous, it has the advantage of free listing just like Uniswap, but also the advantages of centralized exchanges including large user base, ease of use, fast trading and low transaction slippage. BestTrade will have the opportunity to become a world stage for global emerging tokens and a marketplace for medium and long tail tokens with a full range of categories like Taobao. BestTrade will be a colorful world of tokens, for consumers, any tokens they want to use can be purchased in BestTrade.
From the perspective of asset digitization, digital asset exchanges are still in the early stages of industry development, with the rise of DEX in less than half a year and a variety of innovative models emerging, the ultimate beneficiaries will be the users no matter what model eventually wins.