cex finally launched mining: the exchange's self-rescue action

Markets, today's trend is still in the range of shocks.

Therefore, in terms of strategy, it is enough to continue to fluctuate futures, with the top around $10,500 and the bottom around $9,800.

In terms of mainstream currencies, there is also no outstanding performance.

At present, the hot spot in the overall market is still mining. In addition to DeFi, major exchanges have also launched their own mining aggregators in the past few days.

This wave was first started by bigone and matcha.

We all know that traditional DeFi mining has many hidden costs, such as gas fees, operation learning and so on.

For many users, this is actually very unfriendly.

Therefore, some exchanges have started to engage in coin lock mining, and the advantages of exchanges are also obvious.

First of all, most users’ coins are stored on the exchange itself, so it is very convenient to operate, and there is no need to set up a wallet, withdraw coins, etc. as in the past.

The second is that the exchange engages in mining, which directly and greatly reduces the invisible cost of users, such as bigone directly free of gas fees.

These two advantages are obviously a strong blow to traditional DeFi mining.

But these advantages are only on the surface. From a deeper perspective, this series of actions is actually CEX's passive self-help.

The first self-rescue is to launch defi tokens. Needless to say, the saying that "the exchange is the last to pick up the farmers' orders" has fully demonstrated its passivity.

The reason is actually not difficult to understand. Exchanges need traffic, and since defi is self-contained, transactions can be realized without exchanges.

Therefore, cex can only follow defi to list coins passively, even if there is no listing fee, otherwise it will lose a lot of traffic.

But the listing of defi tokens actually only saved part of the traffic, because although exchanges can buy defi tokens, they still cannot mine them.

As a result, many Ethereum, TRON, and pomelo have been withdrawn to the wallet, and wallets like mykey integrate additional functions such as transactions, applications, and otc.

This is a fatal blow to the exchange, so there is now a second self-help.

That is to say, the three major companies started their own DeFi mining.

Taking a step back, it is not difficult for us to imagine that under the influence of the defi boom, users gradually get used to completing a series of operations such as mining, trading, and cashing out in wallets such as mykey.

So, how much traffic will flow back to the exchange?

I am afraid that mykey and other wallets will grow into giants on an equal footing with the three majors, so it is an inevitable choice for exchanges to enter mining.

Therefore, the recent actions of the exchange on DeFi are more of a passive self-help.

But what has to be thought about is that the centralized exchange and the decentralized blockchain itself are completely different, and both ico and defi reflect the gap between the two.

So, will cex gradually decline with the development of the industry in the future? In other words, the better the development of decentralization, the greater the impact on centralized exchanges?