Why Avici?

Bitcoin was created in 2008, when people where getting screwed by the Big banks. Its genesis block on January 3 2009 contained the text " Chancellor on the Brink of Second Bailout for Banks"

Bitcoin's main purpose was to build a peer-peer cash system & eliminate the need for a central bank. At the time of this writing, Its Jan 1st 2024 and Centralised exchanges lead the way for crypto adoption. Centralised exchanges controls your keys & hence control your funds, exactly like a bank, everything bitcoin stands against.

Looking at data of 2022,

• Centralized Exchanges (CEXs): The total trading volume (including both spot and derivatives) for the top 10 centralised exchanges reached approximately $40.867 trillion in 2022.

• Decentralised Exchanges (DEXs): Decentralised exchanges executed a total trading volume of $854 billion in 2022, with the volume coming from 5,687,713 unique trading addresses

So, Centralised exchange volume was almost 47x or 4,785.36% more than Decentralised exchanges.

Why is that?

• Centralised exchanges are very easy to use, supports multiples networks, are complaint (in some countries)

• Decentralised exchanges expect people to setup and manage their own keys with seed phrase, figure out what gas is and pay network fees, doesn't support all networks, tokens & moving between networks (bridging) is very technical.

Avici main purpose is to eliminate the need for a centralised exchanges while solving for User experience, Compliance & privacy.

ref: https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html