2026-01-18 13:20:56

The competition among derivatives DEXs is severely homogenized. Metrics like matching speed and transaction fees have long become standard features, and vendors have little room for innovation in these areas.

The more critical issue is— the user base for on-chain contract trading is far smaller than that of centralized exchanges. This is not just a liquidity problem; fundamentally, users lack sufficient incentives to migrate from CEX to DEX. Purely technical advantages often have limited persuasive power.

Breaking the deadlock requires new interaction innovations. Live streaming real-time guidance is a promising direction to explore. Platforms like Pumpkin are doing something quite interesting—they integrate live streaming functions directly into the trading interface, allowing users to watch live, follow trades, and trade simultaneously, forming a complete interactive loop. This integrated experience indeed addresses some users' needs.

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CrossChainMessenger

· 4h ago

Is this live order following system? To be honest, it's a bit overhyped... The real issue is still liquidity. --- Matching speed and fees are the same, so there's no point. We really need to come up with some new tricks. --- Pumpkin-like models sound good, but will users really give up CEX just for live streaming? I remain skeptical. --- The key is still the incentive mechanism. No matter how advanced the technology is, if no one uses it, it's useless. --- Watching and following orders simultaneously is enjoyable, but who will bear the risks? --- The homogenization of DEXs is a valid point, but a live streaming remedy? Feels like it can't solve the fundamental problem. --- Talking about breaking the deadlock... I think it's more about doing traffic business. --- Lack of liquidity is the real Achilles' heel; everything else is just superficial.

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ImpermanentPhilosopher

· 7h ago

Haha, can live streaming copy trading really solve user migration issues? I’m skeptical. --- Pumpkin’s idea isn’t bad, but it feels like just another story being sold. --- To put it simply, DEXs just lack users. No matter how good the technology is, it’s useless. --- Trading while watching live streams easily leads to being “cut the leek” (being scammed). --- Liquidity is the core; no matter how innovative the interaction, it won’t save anything. --- Live streaming has been overdone for a long time. Can it really retain users? --- With such severe homogenization, it’s better to wait for big institutions to enter the market. --- Indeed, simply benchmarking CEXs will never lead to victory.

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CryptoPhoenix

· 7h ago

Basically, it's still a liquidity dilemma. The technical indicators have already been exhausted, and we need to find a way to keep people engaged. Wait, this live streaming copycat tactic... is it just betting on whether they can copy to the end? The mindset is the biggest test. Pumpkin's idea is interesting; integrating interaction indeed makes it more sticky, but the key is still having genuine value at the source. I just want to know how many people are truly migrating for the interactive experience, or if it's just for those small incentives. The real way to break the deadlock... I think it has to start with user mentality, first convincing everyone that this is not just a casino.

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SmartContractPhobia

· 7h ago

The live order-following system... to put it simply, it's just repeating the same tricks as CEX, just with a different appearance. The fundamental issues with DEX can't be solved at all.

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HalfBuddhaMoney

· 8h ago

Live trading copycat, it sounds pretty fancy, but can it really retain users? Feels mostly like a gimmick. DEX just lacks that breath of fresh air; comparing only transaction fees is pointless. Pumpkin's idea is somewhat interesting, the integration is well done, but it still depends on whether users buy into it. Homogenization has reached its limit; those who could compete have already done so. These days, who doesn't want to just one-click go all-in and follow the trend... but how many can actually make money? It still seems like relying on good news to siphon profits; any innovation in interaction is pointless. Contract trading is like this, always lacking in heat; no matter how much skin you peel, it can't keep people engaged.

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