GalacticTrade

Hello fellow galactic proposal. What does this exchange do that others do not? While loans could certainly be a new exchange feature, is there any interest from the stellar community to use it? We've seen numerous exchange entries in the past and in the current round. It's starting to look like a cash grab attempt rather than an attempt to provide a new and improved service for the stellar community.

[unknown] You should probably tell us more about exactly what "loans" mean before calling out any other projects as cash grabs. Because otherwise it sounds hypocritical when this project is just a copy/paste of Coinbase Pro with a Loans button slapped on.

tmacshaq I'm unsure what you're trying to tell me here. You're defending this entry in the first sentence, and then attacking it in the second?

Freitag I misread part of your post. For that I apologize. But I don't think it's proper to give derogative labels to other projects. If you have concrete feedback just give those directly. For this entry, yes it seems like they heavily copied Coinbase Pro's exchange layout. And they shouldn't brag about something (lending) they haven't shown yet. And it looks like they take full custody of your private key which they should have mentioned. But I am interested in lending and margin trading. I just don't see how it can be done in decentralized manner on Stellar without involving another blockchain. It seems like they would need to do that part off chain so it just turns into something like Deribit/Celsius with a deposit option for Stellar assets. In that case it's not at all decentralized and they need to clarify the legality of operating such a business.

The best model for logging is getting private-key of users like Stellarterm and you have to be open-source your app. also, you have to more work on the design. I think it is CEX no DEX

Freitag Hey, for exchange side we're all just an interface which is using Stellar network and we can only provide the data via better UI currently. In long term, social trading will be unique feature of GalacticTrade for exchange users. For loans, I don't think there is a need to measure the demand of the community because it is gonna be first one at ecosystem. I think the most exciting thing will be that we can create P2P loan contracts on Stellar completely decentralized. Loans system is unique feature of GalacticTrade but in long term exchange side will be too.

tmacshaq Hey, thanks for feedback. GalacticTrade never store your private keys and passwords on database. All operations take place on your client. Thats why we called it " decentralized ". I plan to release the loans system within a few days. Our loans system is also fully decentralized solution on only Stellar network. All details (e.g. how it works) will be given out when it is gonna be live.

John GalacticTrade never store your private keys and passwords on database. All operations take place on your client. We don't need to be open source to prove it, you can test and confirm the outgoing and incoming data on the client very easily like in StellarX,Stellarport...

galactictrade Databases? I don't think this app needs to database client <=> Horizon Oooh...! I suggest you study about DEX and structure. even I don't think Stellar X is a DEX I only believe to Stellarterm.

galactictrade All DEXs in the world are opensource

GalacticTrade | Trade. Lend. Fast.

OrbitLens

dzham Core devs released the protocol version 13 RC1 today, so probably we'll see it on the testnet soon.

OrbitLens

OrbitLens Would love to see a solution that proposes contracts with dynamic forced liquidation. I'd use it myself. Without this feature the lenders will be too cautious – require huge collateral for short-term contracts only.

Yes, I will try to find a model for this that does not cause user experience problems.

OrbitLens BTW, are you going to introduce public API for this to allow p2p lending and matching for trading bots?

Yes, I can offer this as a public API. It will be sufficient to sign and send contracts (XDRs) by using the API with any Stellar library (eg js-stellar-base). Of course, I need to prepare a solid documentation for this. What kind of scenario do you have for trading bots?

galactictrade

dzham

dzham Since protocol v11, the fee you specify isn't the one you will pay, but the maximum fee you are willing to pay. You can set it to something rather high, and in most cases you will pay a lot less.

This is really good news. When it is published, I will test it and share the results. Thank you.

galactictrade

I have very good news for the P2P loan system. With the new contracts I am working on, borrowers can now get their loan almost instantly without waiting for the other party to sign the smart contract again.

After this development, I evaluate the current system as a beta process and deactivate it until the new system that I created from scratch is over. Thank you to those who tested in this process.

With the new system, you will now be able to borrow and lend instantly with the public API, regardless of the GalacticTrade interface. In addition, users will now be able to view a simple and descriptive scheme where they can see how to go through the process before proceeding, and then proceed to the next process if they correctly answer a very simple question about the system. This step will not be available to API users.

I prepared a page where you can follow the developments: https://galactic.trade/changelog

Stay tuned!

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