As part of CoinDesk's Trading Week 2023, presented by CME Group, Injective Labs co-founder and CEO Eric Chen discusses a new Injective survey which indicates a small amount of respondents weren't able to tell if they were operating on a centralized or decentralized exchange.
For a lot of defi projects. The goal is for the users to have such a smooth on boarding experience and user experience that they might not necessarily, you know, be able to critically discern that, oh I'm trading on a centralized platform or I'm trading on decentralized platform. And certainly, you know, Helix strives to be that by having all the um uh centralized exchange, you know, features and functionalities. But I think in this case, you know, there are certainly uh um a group of individuals uh you know, that they are being surveyed who are, you know, more on the inexperienced end of the spectrum or it could be on the other tail, which is experience where, you know, on the, on the lower end, it's like they don't know, they don't necessarily, you know, understand the difference between a decentralized or centralized platform. They're simply finding venues with enough liquidity to uh you know, perform their strategy or their activity or maybe, you know, driven by incentives to on board to a certain platform where they don't have, you know, the sophistication to discern, oh because the centralized or does is decentralized or perhaps it's not too relevant for them. But on the higher end uh uh of sophistication, there could be also cases where, you know, they have a more fine grained definition of what a centralized versus decentralized venue is. Um And this means that, you know, for like a dexter self custodial, um and uh you know, uh fully, you know, partially on chain, not fully on chain um to, to, in their mind, it might be, you know, more like a centralized exchange rather than a decentralized exchange.