umbrel

This was a good read. I have an alternative perspective on one point- arbitrage traders generally remove liquidity so I wouldn't call them liquidity "providers". They typically act at the last minute and only consume the offers that are profitable to them. This is especially true for Stellar path arbitrage. They trade and contribute to the volume, but they don't add anything to the order book.

    dexter Yes, they are takers, but it's important too, because it helps others to complete the trade. MM won't be profitable if nobody takes their offers. Markets are healthier when there are many different roles/participants.

      umbrel Arbitragers are also looking to profit. They will come naturally when there are opportunities and the more liquidity makers there is the more opportunity there will be. So I think it all comes down to the market makers and individual traders. And you already mentioned in the article. Really the root cause with Stellar DEX's lack of liquidity is the lack of makers. For some of the more well-known anchors like AnchorUSD, Tempo and Cowrie, they seem to come and go.

      I really like your initiative to crowdsource market making. Stellar really need more initiatives to fill up the orderbooks. It seems like the economics behind your proposal is a different than Uniswaps. To my understanding- the primary source of return for Uniswap is trading fees- to use their liquidity for trading you have to pay their fee, which get distributed out to the pool holders. It's a close-ended system in that regards. So unless you're looking to lock down how people could trade your assets (what Stronghold did before), profiting from trading fees is not really viable on Stellar. So I'm assuming the primary source of returns for your pool participants is distributing profit from the market making strategy?

        dexter Yes, it is similar because my market maker puts spread, so if you want to use its liquidity you kinda pay the fee to participants. However environment is more competitive than with uniswap, because we compete against other market-makers on Stellar DEX.
        BTW there are arbitrage strategies which also add liquidity to the market, bot can place offers on Stellar mimicking the orderbook of another exchange and whenever it gets a match on Stellar - it will execute counter-trade on another exchange.

        10 days later

        All MM bots are now live for pairs:

        • USDT/XLM
        • USDT/BTC
        • USDT/ETH
        • USDT/LTC
        • USDT/BAT
        • USDT/KIN
        • USDT/LINK
        • USDT/OMG
        • USDT/REP
        • USDT/ZRX

        It's technically possible to commit funds already, but it requires sending special transactions and POST request to the endpoint.
        I'm currently making it easier, by integrating into the interface, and once done going to publish detailed steps how it works.

        4 days later

        Hello,

        I tried https://beta.apay.io from an iPad Pro 2nd generation. I noticed the following:

        • Under "Convert", by sorting in the list of currencies according to each column title, some columns are not sorted in the correct order (name, price USD, liquidity depth);
        • Under “Convert”, also, when I scroll through the list of data by scrolling down the page, the row indicating the titles of the columns remains visible at the top, which is good, however it is not placed entirely at the top of the page but at 2 inches from the top of the screen. This means that two rows of data are visible above the title row as I scroll through the list;
        • Under "My account", the icons of some currencies remain grayed out (probably because they are not yet supported). The ones that appear are (in this order): XLM, LTC, BTC, ETH, BAT, USDT, REP, KIN, LINK, OMG, ZRX.

        I have not tried deposit and withdrawal.

          umbrel
          "Send your funds" section" can be realtime, and then you can delete I paid button

            Here are a few more tips.

            1. For asset conversion, you could provide an alternative flow using a Cosmic.link such as:

            https://cosmic.link/?type=payment&memo=id:50&network=public&amount=30&destination=GBGVRE5DH6HGNYNLWQITKRQYGR4PWQEH6MOE5ELPY3I4XJPTZ7CVT4YW

            In such case, you don't need to ask for source pubkey as Cosmic.link takes care of it (assuming memoId is a unique identifier).

            1. On the user experience side, I wrote a pen that shows how you can embed the signing interface: https://codepen.io/cosmic-plus/pen/xxwKNXv?editors=1010#0

            If you prefer to avoid foreign code, you can achieve something similar by using a side-frame pointing to the Cosmic.link URL.

            1. Finally, you can use "https:/cosmic.link/widget" to customize the signing interface. There's an example here:

            https://codepen.io/cosmic-plus/pen/dyyrbwG

            (You can edit the style in place)

            Tchang7 Thank you, issues 1 and 2 have been fixed.
            Icons are like that for now for simplicity, need to make sure all functionality works well first, then many things can be done to make it prettier.

            John I agree, and I've spent almost a week in the beginning making it real-time, however there are number of issues with watching multiple chains on the backend and pushing it to the frontend through websocket or something, so decided to proceed with easiest possible implementation instead.

              umbrel The new interface looks great. I have one suggestion- it's very opaque how Stellar address maps to address of other cryptos and that could make some users feel uneasy, especially since it's a many-to-one mapping. It's not clear when you generate a new address if the old address is still valid. For transparency I think it'd be good to post the mapped address on to Stellar blockchain itself (e.g. send tiny payment to the Stellar address with the mapped address as memo) so there's a public record of this somewhere. To prevent abuse, you could do this in response to a "request" Stellar payment from that account.

                Hey! Yesterday, we received a mail stating that our Bancor.network design was copied by you without permission, and we verified this when we examined the visual material and link you put here. We request that you delete the materials you copied immediately from Github and your website.

                Bancor Network - https://www.bancor.network/

                  BancorNetwork oh lol, I didn't know.
                  But now, explain to me please what do you want me to delete?

                  • Do we use any of your code? no
                  • Do we pretend to be bancor? no

                  I agree that it looks too close to be a coincidence, but how many ways are there to put a table with 5 columns?
                  The person who did that has already left the company, I'm going to spend some time to make it look less like Bancor, but what exactly do you expect to be deleted?

                  dexter there are 2 issues with that:

                  • privacy
                  • not all addresses can fit in stellar's memo field

                  I plan to show some more information for each account when I figure out a secure way to log people in without asking them for secret keys

                    BancorNetwork

                    Maybe this could have been better done over email?

                    Also,

                    What's so proprietary about it?

                    The list of assets? All exchanges have that
                    The "Pay with" + "Receive" part? That's everywhere too.

                    You're just being dicks.

                    umbrel I think having an account dashboard makes a lot of sense. For login we had to solve a similar problem with NiceTrade and we ended up implementing SEP-10 authentication through Cosmic Link as one of the options.

                    Hey BancorNetwork ! Coinbase called. They said your website looks a whole lot like theirs and request you to take it offline immediately. Just kidding. It really does though.

                    All joking aside, I really like Papaya. It's by far the easiest way for newcomers to ramp on and off the Stellar Network. I don't think the network would be anywhere near where it is today if Papaya hadn't been around for the last few years. Keep up the good work.

                    15 days later