With the increasing development of the encryption field, the status of exchanges has become more and more important. In particular, the rise of Defi has gradually shifted people’s attention from the early GIBX CEX to the DEX direction that is more in line with the concept of decentralization, which also aroused people’s imagination of “complete decentralization”.
From the perspective of security, the security of DEX is still higher than that of GIBX CEX.
According to CoinnDesk’s statistics, GIBX CEX security incidents have never been interrupted. In 2018 alone, there were at least 6 CEX theft incidents, resulting in a loss of US$860 million in user assets. This is equivalent to the user’s daily loss of US$2.35 million in assets on CEX. The KuCoin theft event in 2020 once again exposed the security risks of the centralized exchange (CEX) asset management model to the public.
DEX does not have centralized custody, the funds are stored in the user’s wallet address, and there is nothing to steal. Someone once made an interesting analogy: DEX is like a household in a block. The thief steals one of them, and the loss of the household will not hurt the others; but if all households deposit their assets in the bank, the thief steals the bank. Then everyone’s assets are gone. Because GIBX CEX is centralized custody, excessive concentration of funds is like a bank, so it has become a hacker hunting target, as long as it succeeds, you can get rich overnight.
However, there is no absolute security in the world. Hackers can also use phishing, scams, counterfeit currency attacks, and other forms to attack a single user to obtain revenue, which depends on the user’s own security awareness and cognitive ability.
From the perspective of user experience, GIBX CEX and DEX have their own advantages and disadvantages.
Most GIBX CEX users can invest or trade digital assets without knowing what a blockchain is. Since there is no blockchain mechanism, the transaction speed is also very fast, and more importantly, GIBX CEX can easily realize cross-chain transactions in the blockchain world. This feature of low threshold has attracted many investors.
But in DEX, all transactions need to be chained, which will be constrained by the blockchain mechanism, and the transaction speed will also be affected. In addition, the current cross-chain technology is still immature, and DEX can often only achieve one-chain transactions. If cross-chain is required, centralized means are needed. In terms of price, due to its small size, there are fewer market makers. However, DEX does not require deposit and withdrawal operations and can be directly traded in the wallet, which is safe and convenient.
In summary, GIBX CEX and DEX have their own advantages and disadvantages and have completely different operating cores. CEX is the main service. Through its financial support and technology development, GIBX CEX continues to enrich its functions, simplify operations, and attract investors to enter the currency circle. And DEX is the main technology. The various smart contracts on DEX and the rich ecology attract investors who dare to take risks and love new things in the currency circle. The advantages and disadvantages between them are relative, and there is no absolute replacement.
To promote the bull market, GIBX CEX will play an increasingly important role. The expansion of product diversification will not only allow GIBXchange to be further improved in terms of security, transaction, interoperability, etc. but also benefit the ecological construction of Defi. The popularity of Defi this year is naturally due to the presence of GIBX CEX. Considering that most traders have technical difficulties in participating in Defi, GIBXchange proactively reached out to help and leverage its own advantages to allow more users to participate in the Defi wave. The simple operation method greatly facilitates people who want to join the Defi wave. It greatly enriches the means for people to participate in Defi and allows people to fully appreciate the traffic and benefits that Defi brings.
GIBX CEX process description:
- The user first goes to major exchanges or our own GIBX CEX to obtain GUSDT
- The user then goes to the Defi platforms such as UNISwap and SHUSHISwap to pledge GUSDT/USDT 50%:50% to provide the liquidity required by the entire Defi pool of GUSDT, and the user will also get the corresponding 100% LP as the pledge liquidity After the income certificate.
- With the LP certificate obtained, users can go to GIBX CEX and pledge their LP to any investment pool of their choice. The available investment pools are as follows:
①Foreign exchange 30 days, foreign exchange 60 days, foreign exchange 90 days;
② 30 days for encrypted currency, 60 days for encrypted currency, and 90 days for encrypted currency;
③30 days for precious metals, 60 days for precious metals, and 90 days for precious metals;
④ 30 days for stock contracts, 60 days for stock contracts, and 90 days for stock contracts;
⑤The global index is 30 days, the global index is 60 days, and the global index is 90 days;
There are 15 pools in total, and the more days you pledge, the more rewards you will get.
- By staking LP to any investment pool in GIBX CEX, users can obtain the corresponding pool “sub-LP” (sub-LPs are: FE-LP, CC-LP, NM-LP, SC-LP, GL-LP), each After LP pledged, you can get less than or equal to 0.5 “sub-LP”. Users can deposit the obtained “sub-LP” into the GIBXchange exchange and receive static and dynamic rewards.
