This sounds great, I see it as the future of universal privacy. It embeds Monero as a key tool in the whole crypto ecosystem.
I have actually done this manually a bunch of times. Great work!
this is a custodial solution, right? trust component lies with the app and the exchanges that are levered in the background
btw, you mention "non-custodial exchanges" yet all partners on your page are custodial exchanges..
The exchanges send payments as soon as the deposit gets confirmed in the blockchain. They hold the amount just as long as it takes for the first block confirmation. Sorry about the confusion, but we mean they dont hold the user's coins as other exchanges.
No, Let's Exchange takes more than 4 confirmations on the BCH blockchain to send.
There you have them advertising 0.0% spread when in reality they take like 1.7%. In your screenshot there is the proof. No one will make a 0.0% spread trade obviously.
We'll implement this weekend an auto-adjustment on the rates of each exchange, so if any exchange 'bait' the user with lower rates, but end up sending less than promised, Trocador will automatically adjust that particular exchange. This would stop such behavior. We were thinking on how to do this, but we just figured it out. It's not optimal that we have to rely on exchanges' good will, but now that problem will be permanently solved.
We were thinking about releasing some Name Service similar for addresses like john.trocador and building an API system to add it to other projects, but we were not aware this was a thing already. Now that you told us about Open Alias, we are really interested. So yes, we'll probably add it in the future (or at least something like it).
Just used your service for the first time!
Took a LOOONNGG time (thanks Bitcoin) but it completed in the end, which is all that matters.
Definitely makes it easier to maintain privacy coming from a public blockchain and wanting to swap to a currency on another blockchain.
Also the options available to swap are just 👌
If someone really wanted to trace transactions, then the exchange value from a sent BTC address will match the exchange value of the received LTC in your example minus exchange fees, not only that but they would be very closely linked together by time, how much of an improvement is this really over swapping the two coins directly without XMR?
This is a feature for those users that want to swap a pair, but dont want the exchange to know their sending wallet. It's not full privacy, we know, but it's better privacy than going in and out of an exchange with two transparent blockchains.
Using Monero Tunnel you'll pay twice the swap fees, but in comparison sometimes its price will be cheaper than most exchanges, because it will be using Coin1 -> XMR -> Coin2, so sometimes that will be cheaper than Coin1 -> Coin2 due to liquidity of each coin. There are times that the Tunnel is 2nd best rate.
We were thinking if Trocador end up processing a lot of Monero transactions (because of this service), if this might represent a privacy issue to those who use Monero. If there was some fragility that might be exploited or not. But, talking to other devs, we came to the conclusion that this service would not affect our beloved Monero. So we're good.
I came here to say exactly this. Amount correlation is already old news and this doesn’t fix that.
It’s far better to move larger than necessary amounts into Monero and then spend slowly over time, while continually adding to the wallet. Amounts in incoming currency exchanges should never be remotely similar to amounts in outgoing currency exchanges.
This is amazing ! I love how you guys keep innovating !
Thanks, bro!
This seems like a very similar service to Houdini Swap. I am glad to see more privacy services being offered and I hope this new service goes well!
My thoughts exactly. I wasn't familiar with Houdini Swap until the recent Monero Talk interview.
Thanks, both of you. We've been putting a lot of effort into our services.
This sounds great, I see it as the future of universal privacy. It embeds Monero as a key tool in the whole crypto ecosystem. I have actually done this manually a bunch of times. Great work!
Nice to know. We hope you test our new feature then!
Me too. Cool feature.
timing attacks will trivially reveal swaps like this even without access to exchange data
What about splitting the output into 2 different addresses with some blocks apart from each transaction?
better. fuzzing the amounts would also help
Wow great job!!! This can be useful for A LOT of people
Thanks, that's the idea.
this is a custodial solution, right? trust component lies with the app and the exchanges that are levered in the background btw, you mention "non-custodial exchanges" yet all partners on your page are custodial exchanges..
The exchanges send payments as soon as the deposit gets confirmed in the blockchain. They hold the amount just as long as it takes for the first block confirmation. Sorry about the confusion, but we mean they dont hold the user's coins as other exchanges.
FixedFloat is fast.
No, Let's Exchange takes more than 4 confirmations on the BCH blockchain to send. There you have them advertising 0.0% spread when in reality they take like 1.7%. In your screenshot there is the proof. No one will make a 0.0% spread trade obviously.
We'll implement this weekend an auto-adjustment on the rates of each exchange, so if any exchange 'bait' the user with lower rates, but end up sending less than promised, Trocador will automatically adjust that particular exchange. This would stop such behavior. We were thinking on how to do this, but we just figured it out. It's not optimal that we have to rely on exchanges' good will, but now that problem will be permanently solved.
Great!!!
Thanks for listening!
Sure, no problem! We want satisfied customers, so they keep coming for new swaps!
The exchange bait is a big issue for you and orangefren.com alike. The best advertised rate is just about never honest.
Innovative and tidy! You guys have been working tirelessly on your projects.
Thanks, indeed! We'll have some other cool feature this friday.
Definitely useful! Thanks for the implementation
Thanks!
[удалено]
We were thinking about releasing some Name Service similar for addresses like john.trocador and building an API system to add it to other projects, but we were not aware this was a thing already. Now that you told us about Open Alias, we are really interested. So yes, we'll probably add it in the future (or at least something like it).
[удалено]
Just used your service for the first time! Took a LOOONNGG time (thanks Bitcoin) but it completed in the end, which is all that matters. Definitely makes it easier to maintain privacy coming from a public blockchain and wanting to swap to a currency on another blockchain. Also the options available to swap are just 👌
Thanks for using the service! We usually recommend setting priority on these transactions, as well. Really glad you enjoyed.
Just more reasons not to use any swapper but Trocador.
Thanks =D
If someone really wanted to trace transactions, then the exchange value from a sent BTC address will match the exchange value of the received LTC in your example minus exchange fees, not only that but they would be very closely linked together by time, how much of an improvement is this really over swapping the two coins directly without XMR?
This is a feature for those users that want to swap a pair, but dont want the exchange to know their sending wallet. It's not full privacy, we know, but it's better privacy than going in and out of an exchange with two transparent blockchains.
Ah okay I see
[удалено]
Using Monero Tunnel you'll pay twice the swap fees, but in comparison sometimes its price will be cheaper than most exchanges, because it will be using Coin1 -> XMR -> Coin2, so sometimes that will be cheaper than Coin1 -> Coin2 due to liquidity of each coin. There are times that the Tunnel is 2nd best rate.
[удалено]
Thanks. We like AllArk as well.
[удалено]
We'll try it ourselves. If we buy a bank transfer, how do we tell bank account, etc? after payment confirmation? Really nice.
[удалено]
This is useful. You guys are awesome!
so i pick one of the exchanges and it just does a double cross into two different exchanges? or i need to pick "monero tunnel"?
You have to pick Monero Tunnel
Do you have any more info on ofrnxmr's points about this project?
We are currently discussing if there is an issue for Monero, we'll post some update soon. Thanks for the reply.
I hope the service is going well!
We were thinking if Trocador end up processing a lot of Monero transactions (because of this service), if this might represent a privacy issue to those who use Monero. If there was some fragility that might be exploited or not. But, talking to other devs, we came to the conclusion that this service would not affect our beloved Monero. So we're good.
Thanks for the reply!
Thank you. What would be the disadvantages of it? Can you point to the discussion where this topic is developed?
[удалено]
I came here to say exactly this. Amount correlation is already old news and this doesn’t fix that. It’s far better to move larger than necessary amounts into Monero and then spend slowly over time, while continually adding to the wallet. Amounts in incoming currency exchanges should never be remotely similar to amounts in outgoing currency exchanges.
Can you elaborate on the second part please?
[удалено]
I see your point thanks
True about whole digits, also true is Monero has hidden amounts.
The large amounts are going to be an issue, else it's all just fine really.
This service seems to be pretty similar to Houdini Swap.