Hi everyone, this is my first post here on this form.
I’m wondering if anyone has heard of a… well I suppose it would be classified as a decentralized exchange… that works according to these rules:
- the exchange has its own token.
- the exchange can accept and hold various crypto assets in exchange for its own token.
- The holders of that token can vote on the exchange rate between the token and other crypto assets (individually).
I’ve spoken to many people about this idea but nobody I’ve talked to has heard of a dapp that does this. People say it can’t work because the market will just be gamed by voters, but I’m not so sure; I suppose that’s a question I could pose in the ‘Economics’ category. But for now, I wanted to know if anyone has heard of a decentralized exchange or even more generally a decentralized app that conforms to the rules above?
Anything comes to mind? if it already exists, I think that would be ideal (that way I could just investigate it and see if it works rather than speculate).