After reading the Why page, I still don't have a concrete notion of what this is. So I'll jab a few questions that might help me make some sense:
First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system?
Can this be used to implement more robust margin trading? To my knowledge, only centralized exchanges/brokers currently exist for margin trading.
What settlement speeds can be expected?
That's it for the questions. I don't want to retract from them, but I'll mention that the site doesn't work well with Dark Reader: all theme generation modes, except static, render most of the text invisible.
First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system?
Off-chain relay is how parties find each other facilitate a trade. As a maker, I can create an order off-chain, but I still need to find a relevant taker who is interested in filling the order by sending it to the 0x smart contracts on-chain. Relayers pool together these off-chain orders and serve them up through a website, so that it's easy to find people to trade with. Note that this process is optional -- you can still trade peer-to-peer if I send you the order over email, SMS, etc. While relaying is centralized, relayers are non-custodial, so your funds are never at risk. We also have plans to make some parts of relaying less centralized in the future through 0x Mesh: https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-...
Can this be used to implement more robust margin trading?
As for margin trading, yes, you can trade dY/dX tokens on 0x relayers, or combine 0x orders with any on-chain lending protocol such as Dharma or MakerDAO to get leverage.
What settlement speeds can be expected?
All trades currently settle on-chain, so the Ethereum block time is our bottleneck. Look for some updates on this near future :)
Been following the 0x project for a while, just want to say this is an amazing project that demonstrates the power and potential of smart contracts and decentralized finance. Keep up the good work!
I think i see what you are doing here while others are missing the point. If there is an open source ui, there is an open source api as well. My do-something-usefull-for-users app isn't going to launch a full exchange - but what I would implement is the api library allowing a user to exchange utility and $$ tokens from one to another while staying in my app.
ergo, the user benefit here is that the user only needs a Coinbase or like account to transfer dollars to tokens, and then the user can obtain other tokens within any particular app. The user doesn't need to sign up to yet-another-exchange-with-my-personal-data-and-who-are-these-people-anyway-and-do-they-have-the-tokens-i-use-etc,etc. Now the user can readily take tokens not in use on one platform and transfer them to a token of another platform, all without leaving the platform specific application. That's a big win for the ecosystem.
I can see why you built the slick ui to demo your product, i think it's the right move because i can use it without a single line of code. I think the next challenge you will have is getting developers to adopt an underlying api client library. If I understand what you are doing correctly, perhaps build that client library in js to be used in react and a demo app that has reduced exchange funcationality for quickly swapping two tokens. it should look as simple as the interface for sending tokens to someone now.
If I guessed all that right, the company i work for may be willing to be an early adaptor. Let me know. We certainly aren't going to build yet-another-exchange, but i think empowering a transfer of btc/eth/eos/xrp -> myLittleUtilityToken within app would be very powerful.
Hi John -- sounds like you might be interested in 0x Instant, which lets you offer one-click token-to-token swapping on your website or inside your app. https://0x.org/instant
You don't have to trust! 0x Exchanges are non-custodial -- you hold onto your funds and atomically execute trades through the 0x smart contracts, which are open source and audited.
Sure. If you create an Ethereum-compatible token that represents the crypto derivative you have in mind, then you can indeed use this to launch an exchange for that token.
dmos62|6 years ago
After reading the Why page, I still don't have a concrete notion of what this is. So I'll jab a few questions that might help me make some sense:
First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system?
Can this be used to implement more robust margin trading? To my knowledge, only centralized exchanges/brokers currently exist for margin trading.
What settlement speeds can be expected?
That's it for the questions. I don't want to retract from them, but I'll mention that the site doesn't work well with Dark Reader: all theme generation modes, except static, render most of the text invisible.
tomhschmidt|6 years ago
First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system?
Off-chain relay is how parties find each other facilitate a trade. As a maker, I can create an order off-chain, but I still need to find a relevant taker who is interested in filling the order by sending it to the 0x smart contracts on-chain. Relayers pool together these off-chain orders and serve them up through a website, so that it's easy to find people to trade with. Note that this process is optional -- you can still trade peer-to-peer if I send you the order over email, SMS, etc. While relaying is centralized, relayers are non-custodial, so your funds are never at risk. We also have plans to make some parts of relaying less centralized in the future through 0x Mesh: https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-...
Can this be used to implement more robust margin trading?
As for margin trading, yes, you can trade dY/dX tokens on 0x relayers, or combine 0x orders with any on-chain lending protocol such as Dharma or MakerDAO to get leverage.
What settlement speeds can be expected?
All trades currently settle on-chain, so the Ethereum block time is our bottleneck. Look for some updates on this near future :)
v64|6 years ago
johnmarcus|6 years ago
ergo, the user benefit here is that the user only needs a Coinbase or like account to transfer dollars to tokens, and then the user can obtain other tokens within any particular app. The user doesn't need to sign up to yet-another-exchange-with-my-personal-data-and-who-are-these-people-anyway-and-do-they-have-the-tokens-i-use-etc,etc. Now the user can readily take tokens not in use on one platform and transfer them to a token of another platform, all without leaving the platform specific application. That's a big win for the ecosystem.
I can see why you built the slick ui to demo your product, i think it's the right move because i can use it without a single line of code. I think the next challenge you will have is getting developers to adopt an underlying api client library. If I understand what you are doing correctly, perhaps build that client library in js to be used in react and a demo app that has reduced exchange funcationality for quickly swapping two tokens. it should look as simple as the interface for sending tokens to someone now.
If I guessed all that right, the company i work for may be willing to be an early adaptor. Let me know. We certainly aren't going to build yet-another-exchange, but i think empowering a transfer of btc/eth/eos/xrp -> myLittleUtilityToken within app would be very powerful.
tomhschmidt|6 years ago
flyGuyOnTheSly|6 years ago
tomhschmidt|6 years ago
https://www.youtube.com/watch?v=WSxphhWcLxk
unknown|6 years ago
[deleted]
unknown|6 years ago
[deleted]
rando444|6 years ago
I'm extremely curious what the business model here is.
Who is paying for this to be created, and what do they get out of it in the long run?
bananocurrency|6 years ago
tomhschmidt|6 years ago
blunte|6 years ago
A dapp of any sufficient complexity will have bugs, some of which can probably be exercised to steal funds.
stcredzero|6 years ago
feuGene|6 years ago
turtlecloud|6 years ago