RippleFox is an anchor in China. We issue CNY and educate people to use Stellar. People can deposit/withdraw CNY using alipay/bank card.
We will do more in the coming days.
1. Deposit/withdraw XRP
2. Deposit/withdraw CNY via Ripple
3. Market maker bots to inject more liquidity in Stellar.
4. Educate more people and build an active community in China.
[Website]
https://ripplefox.com/anchor/
How much liquidity do you need?
jed Not much. For the beginning I would be fine if I could buy 10000 CNY/day for a reasonable price.
Looking at https://stellarterm.com/#exchange/XLM-native/CNY-ripplefox.com the spread is discouraging.
[unknown] What does this mean? Is this their limit because of regulations?
I'm talking about being able to get a fair price on the XLM<>CNY pair for bigger amounts. The spread is currently too large.
Check out https://lupoex.com/exchange/CNY/GAREELUB43IRHWEASCFBLKHURCGMHE5IF6XSE7EXDLACYHGRHM43RFOX/XLM/native
You can see that over the past 3 months there has been the kind of volume you are taking about (10000 CNY) on average.
istrau2 Yes, but this is not what I need. You can have a lot of volume by selling back and forth small amounts. I need a tighter spread.
I need to be able to tell a customer: If you click buy now you will pay ??? EUR for 10 000 CNY. And right now the ??? EUR number is not reasonable. I can provide a good EUR<>XML rate, but I also need a good CNY<>XML rate.
If someone did arbitrage trading between Stellar and lets say BTC38 this could work for me and they would also make some money on it.
Coinmarketcap shows that there is not much difference between CNY-XLM and EUR-XLM.
There is still a lot of work and testing on my side to be done, but for anything to work I need CNY to follow the BTC38 numbers closer.
There will be a market maker soon. Then there will be better spreads.
liangran Hey how can you.
1. Deposit/withdraw XRP
2. Deposit/withdraw CNY via Ripple
Using stellar If I trust CNY ripple fox in ripple, then using stellar how can a deposit CNY tot hat trust??
Thx
RennyChacon There was an easy way to deposit described on their website, but now the deposit link doesn't lead anywhere. Maybe this option was removed recently ?
You can still withdraw by sending the CNY to this address BankName/account/name*ripplefox.com
[unknown] How do you liquid it in china?
sorry, a bit late. Is Ripplefox anchor for CNY still working? There is no instruction to go about depositing in CNY, assist from anyone will be appreciated.
