About a week ago I made a post here talking about my Exchange project. The comments I got were pretty good. To keep you guys notified here is the plan. I'm overhauling the CSS design. Instead of minimal, it will feature a good color palette.
There will be no 3rd party RPCs, I will be directly hosting the RPCs myself. Depending on traffic, depends on how many RPCs I will need. So far there will be 7(this includes: XMR, BTC, ETH, XRP, BNB, SOL, and LTC.), this also means there will be no logs whatsoever on the server. I cannot even look at the traffic myself on the server side unless I incorporate Wazuh just to monitor the application
The Exchange will be custodial. I'm currently writing a script that will generate stealth addresses, there will be an option for direct if you understand advanced node configs. You'll not need to use the Exchange's generative wallet.
Another note, it will continue to be Non-KYC. No 3rd party sources will be used.
I talked about escrow on the exchange, this is the central foundation. I clarify escrow will be automated, there will be no human to handle your escrow. The way this works is once you find the coin you want to swap with the automation will generate and escrow between you and the user and be deposited into. You both have to click verify for it to swap. If you do not agree than you'll receive your funds back.
It will be an ad based thing, I do not have the funding to throw crypto in and turn a profit. I will not ask to crowdsource funding either.
You'll post an ad for coin type and how much you want to sell. You deposit, then it will automatically transact from your account.
Onto disputes. I currently have someone for administration purposes handle disputes. This system will not be fully automated.
I am also open to constructive criticism, let me know what you think and if you have any questions I'll answer
sounds like reto swap a bit, but less risky with the way escrow is handled. maybe I'm from ethereum land, but I'd take like a 0.5% fee from each side. that sounds like a lot of work to manage much less make in general. adds should be a bonus if you gain traction. that's what I did on my swap, except not much traction, and we never made much at all relative to the transactions made. with a cross chain swap, more like 1% or something is fair I would imagine. maybe it would also encourage users to not get cold feet too, although still pretty negligible when you consider any other non-kyc exchange in general.
In my opinion, make a project to only allow swapping from other coins (BTC, ETH, BNB, SOL, LTC) to monero (XMR) and other privacy coins ,which have proven their strength, maybe Firo and the pirate chain.
they are trying to de list privacy coins like monero from exchanges. so we need to do something about it.
we need to start using privacy coins like monero in our daily lives.
they are trying to de list privacy coins like monero from exchanges. so we need to do something about it.
we need to start using privacy coins like monero in our daily lives.
I'm kind of trying to go back to how it was with LocalMonero. People put in what they have to sell and everything is automatic. Escrow and all. I'll definitely look over what is said in the comments. Ultimately users will be the reason this takes off, I plan on developing for everyone's needs
I can't say that's not awesome, just take care of yourself. devs are already underpaid these days, but if you have a decent situation and want to be generous then that's what's up. the whole idea sounds like something I would like to try using
That's true, devs do not get the praise they deserve lol. I've been planning this for a while. I think this project will be beneficialbfor sure
Hopefully, it'll take some time depending on what I have going on as I am solo developing this myself. It'll get figured out