Review on Odee by Stephen Toluwani
Odee exchange needs a lot of work done. It doesn't impress much
The Odee exchange is one of the available decentralized exchanges made for the purpose of trading Ethereum and ERC-20 compliant tokens easily without granting any third-party access to your funds. I Have seen the rise of many decentralized exchanges but Odee whose history I do not know much of seems to be very unpopular in use. The exchange though has a lot of ERC-20 tokens available to trade, I see it as a profit seeking exchange as they do not only charge users for their gas fees, but also extorts them in form of a 0.2% trading fees. The best many DEX usually does is to charge a slippage fee, Odee includes a trading fee structure into it's platform. This might also be one of the reason to its unpopularity despite being powered by the popular 0x DEX
Its Telegram community group too is another sorry state of the exchange. The group is usually spammed by fake airdrop messages and the Community manager of the group seems very inexperienced in handling questions made in English language. The exchange still a very good option for trading the high number of ERC-20 tokens available. That is even the only reason why I gave it a 3 star rating. It's good enough to understand and interact with but a lot still needs to be done for this DEX to get in the open
Pros
- A decentralized exchange option for users to swap their Ethereum and ERC-20 compliant tokens easily without giving access to their funds
- Odee supports a major list of ERC-20 compliant tokens and are mostly paired with ZRX as it's being powered by the popularity of the 0x DEX
Cons
- Odee is a very unpopular decentralized exchange, the liquidity is very low and there is hardly any change in price
- It's Telegram group chat is mostly spammed and the Admin on the group doesn't seem to understand complicated English language terms related to cryptocurrencies
- Aside from transaction fees paid as gas fees, Odee exchange still charges a 0.2% trade fee
