Author Topic: New DEX exchange ANN  (Read 8659 times)

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zerosum

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bribowles.blogspot.com

There is this if anyone cares to read it. It is another approach on the same problem, but does not require multisig support. It uses a secondary blockchain to collateralize trades in a game-theory based manner. If such a DEX was created and it found significant liquidity providers, then it could perform much like shapeshift but decentralized.  There are tradeoffs in complexity though, with all the bonds/collateralization etc adding a lot of difficulty in implementation. Taking into account how thin markets are etc makes it very difficult.

A multi-sig approach will have other advantages, but each traded coin has to support multi-sig and using multisig shifts around the basis of the counter-party risk. With the approach in the paper above, one could support Ripple or any other coin and transition towards multisig as the feature becomes standardized.

Yep, I do feel like the last one interested in a true decentralized exchange... the rest of the world is just fine with 'send your coins first to appointed by us (and hard for the regular joe to be included into) parties' approach that Mr Lee preaches to the world.

Offline gamey

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bribowles.blogspot.com

There is this if anyone cares to read it. It is another approach on the same problem, but does not require multisig support. It uses a secondary blockchain to collateralize trades in a game-theory based manner. If such a DEX was created and it found significant liquidity providers, then it could perform much like shapeshift but decentralized.  There are tradeoffs in complexity though, with all the bonds/collateralization etc adding a lot of difficulty in implementation. Taking into account how thin markets are etc makes it very difficult.

A multi-sig approach will have other advantages, but each traded coin has to support multi-sig and using multisig shifts around the basis of the counter-party risk. With the approach in the paper above, one could support Ripple or any other coin and transition towards multisig as the feature becomes standardized.
I speak for myself and only myself.

Offline CLains

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Hey guys. I'm from the Nu/Peercoin communities. I just noticed Jordan Lee's response on Bitcointalk. It seems he expects to support Bitshares as long as shareholders approve it after the exchange launches. Just wanted to let you know of this...

https://bitcointalk.org/index.php?topic=1033773.msg11193137#msg11193137

The extremely secure way in which funds are handled will make it worth the short wait for experienced traders who understand just how high the risk of default is with centralized exchanges.

I expect BlockShare holders will choose to support NXT and Bitshares, so B&C Exchange will be open in a way NXT and Bitshares are not, because those platforms only permit you to trade assets that are native to their blockchain. So if you want to trade Bitcoin for Bitshares, you can't do it using the Bitshares exchange. You would first need to acquire BitBTC, an asset on the Bitshare blockchain designed to track Bitcoin. With B&C Exchange, however, you will be able to trade Bitshares for Bitcoin directly without the use of proxy assets. B&C Exchange is truly cross-platform compatible.

Interesting.  :)

Offline Sentinelrv

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Hey guys. I'm from the Nu/Peercoin communities. I just noticed Jordan Lee's response on Bitcointalk. It seems he expects to support Bitshares as long as shareholders approve it after the exchange launches. Just wanted to let you know of this...

https://bitcointalk.org/index.php?topic=1033773.msg11193137#msg11193137
« Last Edit: April 26, 2015, 06:18:21 am by Sentinelrv »

Offline xiahui135

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it seems they are closer to success than us, we need hurry up.
Their product Nubits seems solving the liquid and stable problem very good for now.

Offline joele

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Bitshares should always post a pre-announcement to all new added features of the wallet so it will create a buzz like this post doing buzz with NUbits now.

What buzz?  They haven't even done anything.  Don't get me wrong.. I wish them luck but the 'buzz' is non-existent.. besides, they're a year behind BitShares building a DEX.. by the time they have a product BitShares will already be well established.

Precisely, they haven't done anything yet but this thread is talking about it.

Offline yellowecho

Bitshares should always post a pre-announcement to all new added features of the wallet so it will create a buzz like this post doing buzz with NUbits now.

What buzz?  They haven't even done anything.  Don't get me wrong.. I wish them luck but the 'buzz' is non-existent.. besides, they're a year behind BitShares building a DEX.. by the time they have a product BitShares will already be well established.
« Last Edit: April 22, 2015, 12:47:02 am by yellowecho »
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Offline joele

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Bitshares should always post a pre-announcement to all new added features of the wallet so it will create a buzz like this post doing buzz with NUbits now.

Offline Stan

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I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

Forgive me if you're already aware, but these NSR aren't being created for the auction. They already exist and are part of the shares that remain undistributed.

thanks for the info. I just wanted to point, that the NuShares community do the same, but we call it dilution and inflation, so we should just "rebrand" our own stuff!

Yes.  Hard to tell the difference between

1.  Increasing the supply gradually by releasing/selling/auctioning pre-printed uncirculated tokens or
2.  Printing them up just in time with each block the way Bitcoin and BitShares do, or
3.  Issuing 10% to developers at genesis who gradually sell them into circulation to fund development.

All are functionally identical, but as an industry we are learning the hard way what is easiest for the casual observer to accept.

If we had done it one of the other ways then that would be the reason for the current recession.

:)

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline luckybit

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There have been several objections to my mention of Bitshares trading proxy assets. There has been a misunderstanding, so I apologize for my part in that. I'm not suggesting BitUSD is a proxy asset, because Bitshares is the native blockchain of BitUSD. I was referring to assets like BitBTC that are in fact proxies for assets native to foreign blockchains.

Isn't there increased risk in trading assets which aren't made up of the same underlying asset?

For example BTC for PPC and then you could have to pay capital gains tax. So what advantage is there if you don't want the tax? The only advantage would be if you get like-kind treatment.

With BTS it's like trading video game tokens all in the same game world. It's like trading in WoW. But things change quick when you trade between assets which aren't from the same world because now the IRS could say Bitcoin and Peercoin are different enough that you must pay capital gains.

On the other hand if you're just trying to acquire the actual assets and not speculate then it does make sense to directly trade but again Bitshares will allow people to cash out into real BTC from BitBTC in that way. So for the day trader there is no advantage to direct trading of assets and for people who don't day trade there might be an advantage but couldn't they just use Shapeshift?
« Last Edit: April 21, 2015, 10:54:52 pm by luckybit »
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Offline JordanLee

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There have been several objections to my mention of Bitshares trading proxy assets. There has been a misunderstanding, so I apologize for my part in that. I'm not suggesting BitUSD is a proxy asset, because Bitshares is the native blockchain of BitUSD. I was referring to assets like BitBTC that are in fact proxies for assets native to foreign blockchains.

Offline Shentist

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I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

Forgive me if you're already aware, but these NSR aren't being created for the auction. They already exist and are part of the shares that remain undistributed.

thanks for the info. I just wanted to point, that the NuShares community do the same, but we call it dilution and inflation, so we should just "rebrand" our own stuff!

Offline Sala

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I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

Forgive me if you're already aware, but these NSR aren't being created for the auction. They already exist and are part of the shares that remain undistributed.

I see. Thanks! That should be mentioned though, to avoid confusion. Users of nushares might know about it already but others not familiar with the system might not know about it. Those kind of situations are one fud post away from a big dump, unfortunately (unless i did miss it, if so, my mistake)

I believe it went down like this. 1 Billion were created at launch.  Roughly 700 million were sold/distributed. Another 100 million sold in an auction a few months back to fund the network. If this motion passes another 100 million will be auctioned which will leave 100 million which will likely be destroyed. This leaves the network at 900m, 10% less than were created and originally intended to be distributed at launch.

Offline Akado

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I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

Forgive me if you're already aware, but these NSR aren't being created for the auction. They already exist and are part of the shares that remain undistributed.

I see. Thanks! That should be mentioned though, to avoid confusion. Users of nushares might know about it already but others not familiar with the system might not know about it. Those kind of situations are one fud post away from a big dump, unfortunately (unless i did miss it, if so, my mistake)
« Last Edit: April 21, 2015, 08:25:08 pm by Akado »
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Offline Sala

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I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

Forgive me if you're already aware, but these NSR aren't being created for the auction. They already exist and are part of the shares that remain undistributed.