Trading pBTC -> pXMR at unexpected price

This is awkward.

@andrey maybe a warning message about low liquidity would be a nice addition to the pDEX. Only problem with this is how to define “low liquidity”?

5 Likes

yep, already added to the dev backlog. Either we define “low liquidity” either check if trading rate is 10% or more different than market and will show warning.

7 Likes

You have to protect users of the system from themselves lol

Joking aside, there is a balance to strike and your last suggestion of a warning of a deviation from market price of 10% or more makes sense and should be implmented across all transactions.

2 Likes

Hi everyone!
I don’t understand the change rate on the app. (I want to change Xmr for Btc).
On the app:
Screenshot_20200416-190224

On investing:
Screenshot_20200416-190224
The rate is divided by 2?!
I miss something Big…

Screenshot_20200416-190253

2 Likes

Hey @Tranbr,
let me explain the situation.

  1. The pDEX works based on automated market maker algorithm, similar approach as uniswap. Which means that trade price depends of the size of the liquidity pool you trade with.

  2. As you can see on the screenshot below and the line Pool Size: on your screenshot. There is no liquidity right now for XMR <> BTC pool.

  1. I assume user which provided liquidity for this pair, couple days ago, moved liquidity to other pairs as XMR <> PRV & BTC <> PRV. As we launched liquidity incentives campaign.

  2. This situation is temporary, we are working on attracting more liquidity for XMR<>BTC pair.

Meanwhile, if you need to execute trade right now, I recommend you to do a next trick:
Trade XMR -> PRV, than PRV -> BTC

As you can see these pools are much bigger

XMR <> PRV

image

PRV <> BTC

image

Sorry for such innocence. We are working on attracting more liquidity and make trades smooth.


:exclamation:You can always check sizes of other pools here https://pdex.incognito.best/
So far the biggest liquidity pools USDT/C <> PRV ($600k+)

Or under each trade in the app
image


Feel free to direct message me (@andrey) if you have other questions.

5 Likes

Hey guys @Twatwaffle @rolltide,
Could you please send me your trades Tx IDs. We will try to investigate with devs deeply and figure out what happen to avoid such situations in the future.

Feel free to send in DM to @andrey

4 Likes

Hey @Twatwaffle @rolltide @Tranbr. I have sent messages to you guys. Hope my words are helpful. Feel free to get back to me :grinning:

2 Likes

Thnk you very much Andrey, Jason. I had not so much time recently but i think now i’ve catched how it’s supposed to work. Thank you for your explainations.

Right now, I’ve moved on Pstake a ridiculous amount of ETH, to see how it’s working.
I use the android app and i don’t know after that where i can follow my Pstake account. I have found only the STAKE PRV button, but my pStake is in ETH. Someone could help?

Did you add liquidity to a prv->eth trading pair for example? Or did you deposit eth to the pStake account?

You can find information on how the Node Pool (by use of the pStake account) works here. This should only be used with PRV.

No Jamie, i deposit eth to the pstake account. Unfortunately your link explain only the prv part.

Actually i’ve switched on the stake account and i Can see my eth stake now.

That was kind of my point. The Node Pool is for staking PRV. When you use the Stake PRV button on the home tab, you will be guided to the Stake tab which will allow you to enter an amount of PRV to stake.

After staking you will see your staked PRV amount displayed, realtime updated with the earnings.

The pStake is not an account you can send any coin of your choice to and earn from it.

So what’s the point with pstaking any other coin?

Hey @Tranbr,
I think there was some confusion, coz we have two types of earning interest.

  1. Node Pool - when you stake only PRV
  2. Supply liquidity for Incognito DEX. Provide privacy for the world. - when you add liquidity to different pairs (ETH <> PRV, USDT <> PRV, etc)

Stake PRV

It’s a staking service which works only for growing your PRV. When you add PRV to this it starts automatically growing (find more details here)

It looks like this. And it works only for PRV tokens.
image

Add Liquidity to pDEX

If you want to grow interest on your pETH. You should use another service. Which call pDEX liquidity pools. Here you can add liquidity to the pools with ETH <> PRV and earn interest on it.

:exclamation: you can’t add only ETH, it should be the same equivalent ETH & PRV

And the process of adding liquidity is a bit more complicated. Below you can find the exact steps.

1. Open your Incognito wallet to access the pDEX

Don’t have a wallet yet?

Appl%20store       google-play-badge

2. Deposit funds to your trading account

On your home screen, tap the ‘Trade’ icon. This will open up the pDEX.

Then tap deposit.

image

Next, choose which account you’d like to deposit funds from.

Select the account, enter the amount, and tap Deposit.

image

Do it for the second token too.
image

That’s it. Now you have funds in your trading account.

3. Add liquidity from your trading funds

Tap ‘Add liquidity’ at the top of your screen, and set the amount you want to provide. Then tap ‘Add liquidity’ at the bottom of your screen.

image

Success!

image

From the minute your liquidity contribution is made, you’ll start earning rewards. Rewards will be automatically deposited to your pDEX account every Monday.


@Tranbr please let me know if it helps or if you will have other questions. I can walk you through this the each step.

1 Like

None. That is why, when you follow the “Stake PRV” procedure, you don’t get asked to select a coin. It is PRV by default, and that is the only possible coin.

I wonder if I can ask you something else.

Where in the information supplied did you get the idea Staking PRV would work for coins other than PRV? Maybe we need to rephrase our information to remove the confusion.

AHH, a couple days after loosing my $250 in BTC you put a warning! That sucks and I know I accepted it twice but when I was expecting 5. something XMR and it shows .5 I simply didn’t look hard enough especially after 2 perfect trades using the pDEX to trade BTC > XMR at the proper rate. So I was simply asking if there was a way to undo what I had done.

I know this is tacky but if anyone reading this is the one who benefited from my mistake I would love some help in these tough times. I know this is tacky but if you can afford it my incognito in-network address is:

12RwLrLk3y1DU46szKRuUoyxagLHm7FquZmX3d9ByK89Q153ZYoemgsSGZ2CdiSvJUCBeemXZMPQiJstdY5H79AYhjzqz14K5mJzT2F

Anything helps…

Hey @rolltide

Technically you are asking to roll back the blockchain, which is almost impossible, unfortunately :frowning:

The easiest way is to find that liquidity provider who benefited of your loss. Hopefully, he/she is part of our movement and will see this thread!

1 Like

So that’s the transaction right there.

EDIT: But forget about it, if it somehow gets found by the benefactor holler at me that would be cool if not I learned my lesson and a lot about incognito itself. So thank you for everyone who helped!

Incognito BTC XMR Mistake