2025-12-13 18:27:58

Seeing a certain leading exchange plan to push on-chain trading functions, thinking it through reveals many issues. Without an effective KYC verification mechanism, it can easily turn into a three-way loss scenario—exchanges, project teams, and retail investors all end up empty-handed. The short-term hype is lively, but this kind of model usually ends in a bloody mess.

Decentralized trading versus centralized regulation—these two are inherently opposed. Embedding on-chain trading into an exchange ecosystem through a particular wallet ecosystem, on the surface, maintains the guise of decentralization, but in reality, it still introduces KYC in disguise. As a result, decentralization loses its meaning. What's more ironic is that this move actually harms the exchange’s own efforts to gain influence over token listings. That said, even top-tier exchanges have their own shortcomings; no one is perfect.

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RektDetective

· 4m ago

Ha, it's that same old trick of "fish and bear paw," do they really think changing a name can fool people? KYC is already in place, yet they still have the audacity to call it decentralized. This is just a centralized exchange in disguise. A three-way deadlock indeed. Short-term profit from a wave of leek farming, and in the end, everything turns to dust. On the other hand, the major exchanges' recent moves have indeed backfired, even weakening their influence. There's no perfect exchange, but if you knowingly jump into the trap, it's really time to reflect.

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OldLeekConfession

· 12-14 13:44

Really, it's obvious at a glance that this is just putting a decentralized shell around itself. Superficially decentralized, but deep down it's still the same KYC review. In other words, it's self-castration. Short-term hype is over, and in the end, there's nothing left in the pocket.

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TradFiRefugee

· 12-14 07:06

Uh... it's that same old "want it all" trick, I'm already tired of it.

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LiquidatedTwice

· 12-13 18:58

It's just absurd. What's with all this talk about decentralization? They've already required KYC, so what freedom are they talking about?

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TokenomicsTherapist

· 12-13 18:57

Ha, another pseudo-decentralization trick. Basically just a different disguise to do KYC. Really? Do you think embedding it can really fool the regulators? A three-way losing situation? I think in the end, retail investors will still be the ones getting harvested. Same old story.

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AirdropChaser

· 12-13 18:57

Haha, this is a typical operation of wanting to have your cake and eat it too, it's simply impossible. Speaking of KYC, it should have been discussed openly long ago, no more hiding. Let's wait and see how this drama unfolds. I bet five bucks that in the end, they'll still have to compromise. There's a saying that goes, decentralization is just a facade; the chives that need to be cut are still being cut. But these exchanges are all about the same, no need to compare who is better. On-chain trading sounds beautiful, but in reality, isn't it just a wolf in sheep's clothing? The rules are changed so frequently; who dares to go all in? Truly.

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ForkItAll

· 12-13 18:52

This gameplay is about wearing a mask to pretend to be decentralized, going through KYC over and over again—it's fucking ironic.

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SwapWhisperer

· 12-13 18:48

Basically, it's like wanting the horse to run but also wanting the horse not to eat grass — putting a centralized skeleton on a decentralized shell. In the end, nobody will be comfortable.

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GlueGuy

· 12-13 18:48

It's the same trick of scamming traffic again—putting KYC stuffing on the decentralized shell, truly amusing.

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