To me, that was the main idea of the DEX and only smart coins give you true decentralized exchange. Imagine if OL is going down and all these people are stuck with open.xxx. This will just kill completely Bitshares. OL much better then a classic exchange it is still a single point of failure for the DEX.
I guess the smart coin idea never caught up for alts because of the low liquidity of smart coins, not sure how your proposal solves that.  Imagine OL issuing smart coins instead of UA.

Thanks for the comments!  I don't think liquidity is the main hurdle... it's just that nobody ever made and supported SmartCoins for Altcoins, so all volume went to OL
 by default (which actually hurts MM's and liquidity, due to brutal fees, and partially thanks to OL marketing, also)

So, I need help from those who know how to submit a proper BTS Proposal to get the SmartCoins and maintained, and added to the default DEX BitBTC trading tab that already exists, as well as the below suggestions... any ideas?

2) Encourage liquidity on SmartCoins through implementation of a Maker Taker model, in which limit orders are free or receive credit back. 3. Less Important - Fund an official "bot" for users to run and add liquidity to the Dex (see BTSBOTS))

Quote from: renkcub on October 05, 2017, 07:04:37 pm

Any news here?

With improved DEX you would think there would be so more intrest in tje bot.

Indeed.
Volumes are still up. Are people using other bots now besides BTS Bots? I'd like to know the best options to add Dex liquidity now.

Proposal Idea for Bitshares - Use SmartCoins instead of User Assets for Altcoins

TLDR:

Let's officially encourage moving volume from centralized Bitshares gateway exchanges (OpenLedger) to the Bitshares Asset Exchange itself, expanding on the successful model of BitBTC.

Background:

I've followed BTS since early PTS days and met Dan in 2013. I was instantly hooked. Even so, I had some concerns, especially about dishonest "DACs" and left the community before BTS was launched (https://bitsharestalk.org/index.php/topic,5407.msg72497.html#msg72497).

These concerns were well founded, as many "DACs" (now better known as DAOs), ICOs, or any centralized what-have-you, have eventually fallen prey to problems, whether it be hacks, mismanagement, exit scamming, or just honest error.

While, I am very impressed and thankful about what Ronny / OL have brought to the reputation of BTS and the DEX, I'd like to critique the centralization of this "gateway / UIA" model with BTS. OL is very separate and distinct from BitShares itself, and this needs to be made clear to BTS investors. We, as a whole, are becoming far too reliant on OL / Obits and some of the other upcoming gateways being "layered" on the DEX. Without some marketing changes by BTS positioning these are distinct from BTS, if one of these "gateway exchanges" were to collapse, the BTS reputation would be irrevocably damaged. When I hear "EOS is coming to BTS", I want it to actually be BTS, not OL.

As a reminder, your User-Issued coins are not yours on any BTS "Gateway". See MintPal, Crypsy, MtGOX. If OL fails to send you your "OPEN.BTC", for whatever reason, they're gone (although your BitBTC SmartCoins accessed via OL are perfectly safe). I have also witnessed some concerning service issues with OL (similar to Polo/Trex), and can't recommend OBITS as an investment in their current state. Although the attempts at transparency at admirable, they have quite a long way to go. The monthly "excel sheet' is poor (for true transparency, I suggest development of an OBITS "explorer" with tables for all fees generated by OPEN UIA, as well as signed addresses (similar to cryptofresh) so buybacks could be easily tracked in advance and crypto balance sheet assets verified).

My Suggestions:

BTS should build upon the successful example of BitBTC, and 1) immediately allow issuance of SmartCoins for major alts (BitLTC, BitETH, BitZEC) that are large and liquid enough to not be as prone to market manipulation. 2) Encourage liquidity on SmartCoins through implementation of a Maker Taker model, in which limit orders are free or receive credit back. 3. Less Important - Fund an official "bot" for users to run and add liquidity to the Dex (see BTSBOTS))

There is already a "BTC" tab in the Dex using BitBTC, so clearly I'm not the only one thinking this.  Let's ask Gateways to also support BitBTC (and perhaps BitETH) as a "base" pair (tab on UI) instead of UIAs, in addition to the Core BTS Dex, which already does this.

What are the key benefits of this switch? With SmartCoins instead of UIA, there is NO "black swan" exchange risk, so users funds will be safer (key thing here), trading fees lower, and new business opportunities arise for "Gateways"  to compete with each other to offer crypto (or fiat) in-out service for a fee in case users want to "Send" their BitAlt to an on-chain address instantly, rather than unwinding the asset back to BTS and moving value in that way (now, to send alts from BTS instantly, you'd only have to trust these "gateways" for a one-time transfer, instead of storing coins there as long as you keep them on BTS, whether for storage or active exchange).

The criticisms I've heard of the Altcoin = SmartCoin approach have centered around the volatility of altcoins not being appropriate for SmartCoins. While there is some truth to this (see "market-manipulation" on https://bitshares.org/technology/price-stable-cryptocurrencies.), I'm not buying it. Despite the recent "pump and dump" nature of BTS itself lately, BTS has served well as collateral for our existing SmartCoins. BitBTC has existed as a "crypto smart coin" for a long time with no issue. Besides, the genius collateral design of SmartCoins makes volatility of the asset a total non-issue, although there is a risk for cascading margin calls as things currently exist that should be discussed further (Check out the Gdax flash crash).

To sum thing sup, the most stable assets volume on the dex should all be using SmartCoins. This is NOT a critique of OL, just of the centralized exchange model. Still a huge place for centralized gateways/exchanges on BTS, such as for assets not large enough to justify a SmartCoin, and other new services.

What now? Let's start by beefing up liquidity on BitBTC / BTS and creating BitLTC, BitETH, and BitZEC / BitBTC markets.

Hello,

I'd really like to be able to graph DEX vs UIA volume by various asset class (volume measured in USD or BTC) over time.

This doesn't currently exist. I can only see volume on Cryptofresh for a certain pair over time.

Quote from: renkcub on September 29, 2017, 08:16:03 pm

Quote from: fav on September 29, 2017, 07:06:55 pm

you can use 2fa from today https://steemit.com/bitshares/@ash/bitshares-openledger-to-add-airbitz-2fa-for-accounts

Nice!
Question though. Does this mean you need to make a new acct with this Airbitz security? Will it work with Airbitz if you don't login via OL?

Maybe is there a FAQ that answers basic questions like this?

you need to make a new account, you have to login via OL (for now)

One last point of confusion.. what if OL went away? How could you access your coins?

Quote from: trustpay on September 29, 2017, 01:25:37 pm

I am using wallet model. Is there any chance my account is hacked like this?

We don't know how exactly this account was hacked. But shortly speaking, yes, your account can be hacked many different ways.

Account model requires somehow access to your key (OR your PC.. like via remote desktop hack) and password.

Wallet only requires password.

Feature requests:

Make charts zoomable / change timeframe

Add charts for Assets Supply over time - so we can see them burned over time (OBITS)

Add charts for Trading Volume (in BTS, FIAT, etc.) over time for ALL Assets so we can viz tx volume on exchange, and not just vol of orders.

I too have suffered a horrible, horrible hack in the past (and slowly recovered via hardware wallets).

I really don't safe with the current Bitshares "scheme". In my past hack, an attacker gained access to my PC. It seems to me they'd be able to empty my BTS in that case, if they also had access to my password.

For this reason I've been keeping my password completely offline. I manually type it in to trade/move funds.

Still doesn't feel safe if I were to be properly keylogged, as I was in the past, besides using "misdirection" techniques when entering the pass. I wish there was some kind of 2FA. Hardware wallets or OmniWallet with 2FA are the only safe schemes I've found for active funds (non-cold storage).