FX is a HUGE market waiting to be disrupted by DeFi. It's a market that is worth $6.6 trillion in the real world, with use cases like leveraged trading and remittances. Every single time you do a wire transfer or buy something online from another country, you're going through FX.

However, currently, FX in tradfi is basically built on highly siloed legacy systems, one of them being SWIFT. SWIFT is a messaging layer that brings together correspondent and intermediary banks in different countries to facilitate x-border transfers.

What this means is that there are multiple banks that are involved in the entire x-border transfer chain, which leads to high fees and multiple days to reach the end destination. You're waiting for each bank during working hours to process and move the transfer to the next place.

Sometimes, you even have tellers who are handling each of the transactions with a bunch of fields included, and transfers can't be accepted because of differing standards and missing fields. This is incredibly inefficient and error-prone.

Even worse, there is no transparency as a consumer in the process to know what exactly is going on; whereas in crypto, you could see all your transactions reflected on the blockchain.

There is a ton of inertia and lack of incentive for such a complicated legacy system to innovate, which is why players like @DFXFinance building this FX software layer from the ground up is so critical for the next stage of global finance.

@DFXFinance is a DEX with a dynamically tuned bonding curve optimized for fiat-backed stablecoins. It's more efficient than Uniswap and Curve at FX swaps. ( @BluejayFinance can personally attest to how efficient the trades have been when we've done swaps ourselves).

What @DFXFinance has created initially is a 24/7 FX market on the blockchain. Beyond just providing a trading use case, DFX aims to serve as a foundational layer for future players like fintechs to adopt stablecoins as rails.

DFX aspires to be an entire ecosystem built around stables. The DEX is just the first step - they are looking to launch other products like lending/borrowing, derivatives, and more. We at @BluejayFinance are super excited about what will be on the horizon for decentralized FX!

@SherryYanJiang @DFXFinance @kevinzhangTO @BluejayFinance Thank you so much for setting up the call and for breaking it down into a thread!🙌🏼 We look forward to the next one, @BluejayFinance @SherryYanJiang !🍻

@SherryYanJiang @DFXFinance @kevinzhangTO @CotyKuhn @BluejayFinance @DFXFinance and @BluejayFinance 😎