Counterwallet has a neat Network Stats tool where you can view transaction history. I chose to select only DEX orders and cancellations over the last six months:
As you can see, there is a steady use of the DEX.
It’s a nice surprise, as the DEX was intended more as a proof-of-concept than a replacement of centralized exchanges. The DEX is slow and it costs a BTC tx fee to place an order. The DEX’ philosophical selling point is that trade is risk-free. Funds are escrowed in the protocol. In Bitcoin Land this is maybe more than a theoretical advantage, which anyone who’s been Gox’ed surely will agree on. Maybe this is why people actually use it?
Another reason people may use it is to trade illiquid Spells of Genesis cards. When people agree to trade cards, the DEX is nothing but revolutionary. Without a DEX they would need to trust each other or a neutral third party. The DEX eliminates this hurdle. Mika from Finaland and Josh from Alabama don’t need to know each other, trust each other, or like each other - they can still exchange tokens on the DEX.
Other comments on the DEX?