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RE: LeoDex, Black Swans, Good Karma and Investing in Steem | The Daily Leo #45
It’s a front end interface that facilitates a decentralized exchange of tokens between users using Steem Engine’s backend code.
DEX can be defined in different levels. If you’re thinking of a pure DEX in the sense that the front end and back end are completely decentralized and have no central ownership, then neither leodex nor Steem Engine qualify under those standards.
SE (and other large exchanges) define themselves as a DEX because they are facilitating peer to peer transfers.
Steem engine is totally centralized... You're either running a DEX or you don't, there's no middle ground
If there isn’t a middle ground, then 99% of the “DEX”’s that exist today aren’t really a DEX.
As far as I’m concerned, leodex doesn’t handle user funds. Calling it an exchange would be innaccurate. Thus, it’s an interface to a separate backend, however you want to define it.