KoinDX is the first DEX on Koinos. That alone makes it superior to most other DEXes because you can trade without gas fees. The only real downsides are a lack of bridged tokens, trading pairs, and liquidity. All of which can be overcome.
However, KoinDX uses an automated market market (AMM) contract in the style of Uniswap. Without going too deep into the weeds, that means there is still a fee for trades. A small percentage goes to the KoinDX team, and another small percentage goes to the liquidity providers.
You can come up with alternative ways for the company to monetize, but you still have to pay liquidity providers. Thus, it's unlikely a DEX of this kind will ever be truly 100% fee-less.
Order books don't need liquidity providers. Buyers and sellers name their own prices and then the contract handles matching up people to fulfill their orders. As a result, no one has to get paid for each trade. Sure, whoever builds and operates the order book dApp needs to have a business model, but it doesn't have to be fee based.
With an order book on Koinos, we could have truly fee-less trading. That's powerful.
P.S. now we just need a bridge.
P.P.S. this is not meant to hate on KoinDX in any way. I love what they're doing and use it actively myself.
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