My thoughts on Closed Beta Liquidity Search Engine Matcha

By favicon | fav | 4 Jun 2020

First of all thanks to twitter/crabbylions for giving me closed beta access!

Matcha is similiar to ParaSwap or 1inch a Liquidity Search Engine for Ethereum Tokens with the goal to provide the best market price.

For example if you want to exchange DAI to ETH you get a very clean and responsive (good job!) overview to swap

I really like the live updates of prices, which is a neat feature in my opinion

Note: that's me moving along the price chart

One of the biggest problems is that there are no L2 liquidity providers yet, and as such Matcha is strangled by Ethereum's non-scalability and congestion. The GAS prices to interact with the underlying smartcontracts are abysmal. Not their fault, but it's no fun to use it for smaller amounts.

What's missing

Matcha has a beautiful UI, but is this enough? I doubt it.

More Pairs More Features

1inch offers a lot of (buggy) features, and if they manage to make them work, it'll establish them even further as the number one LSE. Matcha needs to come up with lots of creative ideas.

I think it's vital for them to implement a good referral program, even if you only give away a platform specific token - preferably on L2 (Matic or Loopring) - you can attract marketers. That's the best way to set foot in the market.

Privacy

Please get rid of google analytics, you'll only ever need this to data mine and doxx your users. On-chain analytics are more than enough, unless you plan on snitching, like a certain other LSE.

It may be just me, but I'm missing an additional privacy layer as a feature in LSEs. That would make a huge difference. Maybe with the help Aztec or Umbra?

Needless to say that I would expect IPFS and Onion hosting ASAP :)