A topic separate from the general discussion topic to focus on more drawn out, long term topics. Content is copied over from the “Discussions” channel of Discord.
Posted by littleeagle on Discord: What is the difference between general and discussions?
hanniabu (Discord): general is random banter related to blocknet, discussion is used when there’s more lengthy conversations on a certain topic
Dungor (Discord): Free pairing between trade options on Blocknet is a design choice. The option to trade XC directly to DOGE without having to go through BLOCK, LTC or BTC first is cost effective. The problem though is that the more trade pairs we have the lower volume and higher spread we will have. Yes eventually this could be helped with bots.
But I think we should consider a trade routing function.
So say if I want to trade XC for DOGE there should be an option to route through other trading pairs to get volume.
XC to LTC to DOGE
XC to BLOCK to LTC to DOGE
XC to BTC to DOGE
And some mechanism that calculates the lowest price and also estimates trading time.
Alternatively we should recommend a certain currency to be base currency for volume, and have the setup process and UI nodge using that, e.i. LTC.
Jazzy (Discord): Low interest and ownership in LTC makes it kind of impractical to push as a base pair, BTC is the natural choice but syncing a full node is the blocker. The solution is lite-wallet support for BTC pairs.
Jazzy (Discord): It shouldn’t be too difficult to build a BTC only XBridge lite-wallet right?
Eazy G (Discord): It would be good if there was a stable coin we could use as the base pair, but I guess that’s not an option for now. I think it’s good to be able to trade any pair but it’s too confusing and not practical for volume like you say. A normal swap option would be good for all coins but the dex should have a base pair.
Eazy G (Discord): Agreed, btc and lite wallet would be ideal.
Jazzy (Discord): Also makes a good MVP for a lite-wallet
Jazzy (Discord): You’ve got to start somewhere and having a working PoC for BTC is 100% the best place
Eazy G (Discord): Yep. Hopefully someone will do a proposal this month so some funds can go towards getting it syarted
Jazzy (Discord): When the next date?
Jazzy (Discord): I think I had another proposal to submit anyway although now it’s slipped my mind
Jazzy (Discord): Ah yeah mandatory feedback
Eazy G (Discord): Not sure of the date
Dungor (Discord): I don’t think it’s a matter of funds, it’s a matter of dev resources
Dungor (Discord): And as the discussion with infinity and Dan in the litewallet-multiwallet channel suggested then it’s also a matter of some of the API still not being ready
Eazy G (Discord): Shouldn’t we have a whole bunch of bounties at least, to try and encourage outside developers to start working on things. I know we don’t have the resources internally. Are these API’s being actively worked on right now?
Eazy G (Discord): We need to do all we can to speed up development Imo. Especially the lite /multiwallet. But also bug testing the dex etc.
life.is.too.shor (Discord): we need trading bots with liquidity providers that will spread liquidity on the back end