Here's my entry for the #BestDApp Writing Contest. While there are many great DApps out there, this is one stands out to me.

Waves.Exchange(formerly Waves DEX) is a DApp for the Waves blockchain as a decentralized exchange. There are a couple key features that makes this a great DApp for anyone in crypto to use.

Features

Exchange Between Top Coins

With most DEXs, they will usually have their native coin and exchange between only other coins that were created on a specific DEX. This makes it difficult if those DEXs don't have the trading pair of the coins you may have.

With Waves.Exchange, they have a lot of the top coins to trade and diversify your assets without having to jump around different DEXs.

Trading pairs like BTC, ETH, XMR, LTC, and others allow coins on other DEXs or DAppss to make their way across multiple DEXs and DApps. If you had a coin on Ethereum, you could easily convert those coins to ETH on DEXs designed for Ethereum and trade your ETH on Waves.Exchange.

While other DEXs have their "Pegged" coins, Waves.Exchange uses a hybrid system that allows cross-blockchain exchange to happen. So if you have BTC, you can deposit or withdraw actual BTC directly and not a "pegged" version of the coin.

Simple UI

One of the main challenges for more mainstream adoption of crypto-currency has been the ease of use for coins and DApps. Waves.Exchange has a simple UI that makes it easy for a beginner in crypto-currency to dive into the space.

Create Your Own Coin

With many other DEXs or DApps, it can be difficult to create your own coin. There are many factors like the cost and parameters that are set on blockchains that prevent users or platforms to create their own.

Waves.Exchange allows anyone to create their own coin on the Waves blockchain and set the parameters for them. You can set whether or not you want the coin to be reissuable or not and set how many decimal places it will have. You can add additional parameters through scripts if you are familiar with how to do that. It costs only 1 Waves which makes this easy and cheap to create your own coin on the Waves blockchain.(At the time of writing this, 1 Waves = $0.58)

Leasing

With DeFi(Decentralized Finance) being the push among many in the crypto-community, Waves.Exchange DApp also has a leasing feature.

WavesPlatform:

LPoS (Leased Proof of Stake) gives you the opportunity to make the network stronger and safer while receiving more Waves and other assets as a reward for doing so. It's the so called Leasing. Most people don't have 1000 WAVES to run their own node, so they are still able to help the whole project through leasing their Waves to someone who is able to run a node. Most big nodes pay in a one week cycle to their users. The LPoS reward depends on the conditions of the selected pool.

We do not regulate the payment process, so before using LPoS service, please read carefully the terms of payment and do your investigation of the pool that you want to use.

The terms can vary between LPOS pools. Please use the list of nodes - https://forum.wavesplatform.com/c/pools

The ability to earn more with what you already have and the other features listed makes this DApp one of the best.

Downsides

Low Liquidity/Volume

Compared to centralized exchanges, Waves.Exchange has lower liquidity but higher than other DEXs. Waves is somewhat new and with regulations hitting the centralized exchanges, it won't be much of a surprise if the liquidity rises on DEXs.

No Withdrawals in Fiat

This is a given when it comes to DEXs. Unless you're doing a in person-to-person trade or working through a centralized money transmitting service such as a bank, you won't be able to withdraw in fiat. But Hodlers shouldn't have any problem with this.

Lack of Trading Pairs

While Waves.Exchange has a ton of trading pairs available, it currently doesn't have EVERY top coin to trade such as EOS. While that could change in the future, you will still need to use other DApps or DEXs if you are holding such coins.

Early Development

Waves blockchain is somewhat still new. They launched in December of 2017 and even now, there aren't many Dapps available but still is continuing to grow.

Conclusion

Waves.Exchange is one of the most simple, well developed DApp or DEX that is around. With low transaction fees and latency, the Waves.Exchange DApp will gain more adoption and have an impact on the crypto-currency industry.