/biz/ - Business & Finance

How is it different from any other DEX?

>>26563812
Basically everything mirrors the Uniswap model, itself codependent on Ethereum's blockchain and on-chain tx. Several of these projects, Uniswap included, realized they needed to upgrade to a layer 2 solution as ETH got sluggish and expensive last summer.
Stakenet has been geared for layer 2 protocols from the start. Being based off of Lightning Network, it has interoperability with real BTC and LTC. Through Connext and integrating ETH private keys into its multi-currency light wallet, Stakenet DEX is capable of executing immediate off-chain atomic swaps between BTC, LTC, and everything related to ETH and ERCs. They're currently stress-testing BTC/USDT.
If any of those ERC DEXs do have an L2 solution, it will be strictly for ERC tokens and wrapped assets

Why would anyone use it over Binance | Uniswap?
I don't get the appeal
>no wall of text, pls

>>26564270
Binance
>geoblocking
>Binance owns your keys and your wallets
>Binance can freeze withdrawals or get hacked
Uniswap
>has already pushed ETH's blockchain to its limit, leading to long wait times and very expensive fees to do atomic swaps
>can only trade wrapped assets and ERCs
Stakenet
>instant atomic swaps via LN closely simulate the experience of trading instantly as you would on a CEX
>being on L2, fees are consistently low and tx times very fast (basically instant)
>can trade between real BTC, real LTC, real ETH, real USDT, real LINK, real ETC, etc etc

>>26563449
When they take responsibility for refunding most of us who got rekt by livecoin exit scam then we can talk about XSN.

>>26564030
This. After being around for a couple of bull runs shit gets clogged up worse and worse every time. 2017 had 12+ hour delays on btc with 4 hour delays being common. I've been watching and hoping ethereum or btc would figure out some kind of scalability but apparently that's a ways off. So here we are, yet again, with a retail run ahead of us and still no scalability solutions. Xsn is integrating primary pairs first, which is huge for when things get clogged. Literally eth, usdt, ltc, and btc which are the 4 most traded coins by volume and a linkage to bitfinex for liquidity. I believe erc tokens are next, so likely link. Why I haven't seen the ui posted much on here is beyond me. The dex is clean and anyone can try it on the discord through open beta. I've got my stack now so I'll probably start updating biz more.
Whoever has been gang-rape fudding, lol thank you. You sir have done a public service!

>>26564270
Wait until the bull run and see how long it takes to make a simple btc transaction. Also kyc.

>>26564545
I feel your pain, I genuinely do. That sucks man. I lost 3 btc during gox. But not your keys, not your coins has been a thing since gox. I'm not familiar with anyone who has gotten a refund from a project when whatever exchange you hold your coins on gets hacked. Cryptopia was a warning shot, centralized dex's that control keys to balances on their systems will be an ever increasing target as the run ramps up. As a side note the xsn Dex has wallet functionality but you retain control of your private keys.

>>26564734
Even STA offered refunds

>>26563812
Existing DEX's are mostly on the Ethereum blockchain and as such you can ONLY trade ERC-20 tokens. this is a problem because a) it restricts you to just ethereum and you cant seemlessly trade between ERC-20 and the other biggest blockchain BTC, and b) because theres so much trading occuring on these ERC-20 DEX's now the network is congested and you have to pay higher and higher fee's for every trade.

Stakenet DEX wanted to build a DEX where just like a CEX like binance, you can trade between ANY blockchain. It's an ambitious projects and its taken them a few years, but it looks like its nearly here.

If they succeed it will revolutionise crypto because for the first time ever you exchange between separate blockchains in a decentralised way. we can get rid of centralised exchanges and be our own banks. I've got a masternode just in case they succeed because if they do this thing is going to pluto

>>26564270
its cheaper, quicker, and private. see above

>>26564545
why should they take responsibility for something they had nothing to do with?

>>26565031
>why should they take responsibility for something they had nothing to do with?
Only place possible to buy XSN, most users would not be tech savvy enough not to hold it there since there is no convenient wallet for it.

>>26564545
>keeping your XSN on a CEX
No one's fault but your own.
One of the key reasons for XSN existing in the first place is that CEXs are shady and aren't any place to keep money.
>>26564564
I remember when BTC tx crawled to a trickle. It could be argued that problem in itself propelled XRB/Nano to become one of the coins with the highest returns (more TPS, near-zero fees) that cycle.
XSN is in the eye of the storm. The broader industry's sudden interest in L2 and its high-volume L2 capacities are too perfect a coincidence.

>>26565147
>most users would not be tech savvy enough not to hold it there since there is no convenient wallet for it.

what?

>XSN CLOUD
>XSN CORE
>XSN DEX Mutti currency light wallet (open beta)
>XSN LEDGER APP
>XSN TREZOR APP

Listen i know its a shitty experience and i feel really sorry for anyone who lost there coins but NOT YOUR KEYS NOT YOUR COINS.

This image was even made and circulated here countless times telling anons where to store their coins

>>26564030
>>26565031
Is there any proof they have a working product? Where does it say they are launching soon?

>>26563812
From my understanding, by supporting bitcoin. This is literally a game changer, assuming they'll succeed. I don't need to swap coins between some poo chains, I want to swap from and to bitcoin. That being said, I have no idea if Stakenet will succeed.

I've found a new defi Baex(#baex), does anyone know about it? That's a binary project with USD/YEN, crypto and many other stock indexes. Seems legit and safe with Yahoo quotes source and algorithmic profitability

>>26565467
The DEX has been in open beta since August. You can download the open beta and use it to buy right now, but I wouldn't recommend doing so immediately.
The newest build of the open beta is from October and a serious amount of progress has been made to the DEX since then. The closed beta has been getting all the good stuff (SSUI, ETH integration, BTC/USDT, etc) that will be included at launch.
https://orderbook.stakenet.io/monitor/BTC_USDT
>Where does it say they are launching soon?
The devs said they will begin transitioning to phase 2 of the DEX by the end of March, and that the DEX will be fully operational and released in stage 1.

>>26565467
Heres the latest update

https://medium.com/stakenet/xsn-core-update-jan-2021-1f2b1f585b58

In a recent AMA one of the devs confirmed that the public DEX will be available by the end of Q1(this Q1), i dont have the screencap but will try get it for you.

Heres a twitter update with proof of the latest BTC-USDT swaps taking place on the DEX
https://twitter.com/XSNofficial/status/1347258023434018816

You can join the discord and get your hands on the beta DEX yourself and try it out
https://stakenet.io/
(bottom of page)

>>26563449
I guess I'll buy a bag, whats the suicide stack for this? Got around 10k usdt

>>26564270
See you next year.

>>26563449
>"The team claims that XSN has instant, virtually feeless, and unlimited transactions per second"
This kind of wild claims always smell of scam.

>>26564270
>I don't get the appeal
The appeal is that it claims to directly support bitcoin and a few other PoW currencies. This is where it's at. Not simply swaps between Ethereum and Polkadot or Ethereum and Binance Chain. Bitcoin.

The only problem with Stakenet is that this is all too good to be true.

>>26566038
>this is all too good to be true
My worry exactly.
Pity, because right now it's at a good entry point.

How does this solve the gas fee problem if I need to pay the gas fee when moving my funds to layer 2. Okay fine I only pay it once, but I’m not going to trade my shit coins for something else right away.

So say I pay gas fee to move to layer to. Buy some link and then, since I don’t want to sell for a month I move it back to layer 1. In a month time I have to Open a Channel again and move it to layer 2. Thereby having to pay 2 gas fees that I would have just had to pay if trading on uniswap.

Also I cannot even sell all my bags. Because some of it has to be used as collateral. So really what’s this solving?

>>26565467
Another anon already said it, but the easiest way to go is to join the discord and go to the open beta section. I could say it's slick and it works but you'd be amiss if you didn't try it for yourself and make your own conclusions.

>>26566092
See above. It's not magic pixie dust, just that xsn is the only project that's been working toward this application of l2 scaling since x9 developers took it over. It's a lot of coding, for sure, but the dex open beta is out and freely available for anyone to try. Id recommend trying it yourself before investing any serious amount.

>>26566764
The dex interface is a self contained wallet. So you remain in control of your keys, ledger has already integrated xsn. So you don't have to shuffle back and forth. Open you channel, make your trades, close the channel. That's it.

>>26566785
This the dex?
https://orderbook.stakenet.io/monitor/xsn_btc

Can't seem to do anything beside showing some data about transactions.

And their roadmap doesn't even have any projected date for achieving each milestone. It does come off a bit as wishful thinking.

Rubic PnD lawl, good to talk about a real coin for a change..

>>26566935
Right but if I close my channel then I need to pay the base network fee later on when I want to trade again. So what’s the point? I also cannot trade all of my stuff, because it’s locked in collateral.

Does anyone have the yankee pic that confirms bitfinex partnership larp?

>>26566020
>>26566038
>>26566092
I completely understand the sentiment of 'its too good to be true', thats exactly what i felt when i first discovered it. But the fact is these guys have innovating for a while(pic related) and innovating is hard, and takes time. They've been on the crypto scene for a while working on this. It's not like they just came along and started making these outrages claims. They have a visible track record and results to show for it.

>>26567019
No, you'd have to go to the discord and go to the open beta section. That's literally just a stats page. It is also where you should go to learn more about the project if you have an interest. I'm on the way out the door for work, make you own calls on it.

>>26567357
I'm not aware of any collateralization needed. And if by base network fee you mean l2 channel rental fee, then yes, if you wanted to trade again down the road you would have to rent a channel if you wanted the l2 transaction speed. Otherwise, it operates as a standard dex. The l2 channel rental will be cheaper than the bloated fees during times of heavy congestion, i.e. alt season, or when you plan to make multiple transactions. Same as above, pop into the discord and look around. Ask some questions if you like.

>>26567519
here you go.

>>26567519
Eh that's speculation. A hint was made but other than being listed on bitfinex I'd hesitate to be telling people there's a partnership. Too much fake "partnership" trash in crypto already to be operating on breadcrumbs

>>26565826
Suicide stack is 1 masternode
>>26567710
Thanks.

>>26565826
15k XSN is the suicide stack here (1 Masternode)

I heard it doesn't support Smart Contracts.
also what is TPoS ?

>>26567755
Checked. Yeah i know it's all speculation but the dots just align too well.
>>26567811
>>26567822
Checked. Tpos is trustless proof of stake which involves a smart contract. Although i am not aware of the full smart contract capabilities of xsn. You'll need to ask the devs in the discord since they will know all the technicals.

Where the fuck do you even buy this goddamn token? It's not anywhere.

>>26567928
Coin*. On whitebit (no kyc) or bitfinex.

>>26567952
Thanks. But why are you shilling it instead of accumulating, if you're that confident in it?

>>26567984
I have finished accumulating that's why. And yes i am very confident in it. If the devs make this work then im going to be rich as fuck. 1 masternode is a suicide stack so i got 12 lol. And looking at the devs track record >>26567681 and see then stick to their plan with their bitfinex listing etc i think they will pull it off. Of course always dyor anon.

>>26567519
What a chad

>>26567928
nigger its on one of the biggest crypto exchanges. and why am i shilling it instead of accumulating? I am accumulating. Just bought another 5k. Im shocked i can still buy at these prices

https://trading.bitfinex.com/t/XSN:USD

>>26567755
of course it's speculation but i think theres plenty of evidence anon, especially considering we have a team member cooperating the 'larp'. and those tweets by the bitfinex CTO... can that really be a coincidence? i doubt it

This gotta be /biz/ most hated coin, dont get it to be honest looks promising and shit are developing. Got a small stack for full disclosure but i always get worried when i read about XSN on biz cause its always full asrape

>>26568127
Which is encouraging. /biz/ hates money.

>>26568127
Because we took these digits and pissed of linkies and fudders at the same time. Also i honestly think cz hires paid fudders.

>>26568127
because people are dumb and they've associated XSN with the failed Posw that has nothing to do with Stakenet.

>>26568113
So what's a suicide stack? What sort of valuation will this reach if the DEX is successful?

>>26568575
At the moment it has a measly 23million MC. If something of this magnitude were to be successful, expecting a 23 BILLION mc wouldn't be too much.

>>26568575
It's 15k xsn, enough to setup a MN.

>>26564487
Very good sum up!
Spot on.

>>26567952
>whitebit
I can only buy with USD here, right? No way to swap between ETH and XSN?

Why the hell did the developers make it so difficult to buy their coin? Why isn't it on 1inch or Uniswap? Is there a particular reason?

>>26568888
Not an erc-20 token. You can buy it with USDT on whitebit

>>26568888
checked you can easily swap eth to usdt and buy

>>26563449
SCAM ;) SELL SELL SELL 15 CENTS

>>26564545
The sooner you start taking responsibility for your own actions and your money, the sooner you will grow up.

>>26568575
15000 xsn, devs have an article with more specifics on hydra coming like Tommorow.
>>26568888
Bitfinex is usd only, whitebit is usdt only but they do have pairs like eth/usdt etc. Whitebit is no kyc up to 2btc per day.

>>26568888
Checked.

>>26568969
>>26568909
>>26568913
I would like to apologize to everyone for this absolute waste of a get.

>>26568888
checked. because its not an erc20 shit token, its its own blockchain. you can buy on Bitfinex bro, it's easy as hell.

>>26568575
suicide stack is 15,000, thats one masternode. one masternode will give you a slice of this future infrastructure that will facilitate all interchain exchanges (if successful)

https://medium.com/stakenet/xsn-masternode-network-b05c14664b3b

What market cap can we expect?

Stakenet DEX will render all layer 1 DEX's obsolete.

https://streamable.com/kzpimj

I fully expect us to surpass Uniswaps market cap within just a few months of public release. thats 130x from here, thats $32.5.

>>26568987
Not a waste.
>>26569020
New article for hydra is coming soon ;).

>>26569048
>>26569020
Not to be suspicious of your good intentions, but this coin keeps dumping. You didn't just pajeet me, right? I just bought 18k.

>>26567698
How can you shill this and not know how a lightning network channel works. You use your own funds as collateral for the channel. The larger capacity you want the channel to be, the larger you collateral will be. I assume this is the same for the connext network.

>>26563449
PRICE DUMPING?

No Tether pair was a little annoying to get a node. Picked up for a good price considering recent highs.

>>26569158
You bought in the dip from the pre bitfinex listing. Not sure how low it will go but it'll go up eventually. Especially considering dex will be out in public either next month or in march. Also dyor

>>26569158
I'm financially ruined.

>>26569417
Jokes aside, the recent pumps and the immediate dumps make it look like a heavily manipulated coin.

>>26569634
Seems like price is being suppressed. Wonder if some bigger guys are accumulating.

>>26569158
>>26569634
You can clearly see the price is in a long term uptrend, but this is a very manipulated and volatile coin. We have only just for the first time been listed on a reputable exchange with easy access. We are going through price discovery now.

might i remind you that listing is bitfinex. The 5th largest crypto exchange. These top exchanges have to perform a huge amount of due diligence and thorough research on any coin that wishes to get listed. Only if the coin meets their thorough criteria will they risk listing it.

In the case of bitfinex, owned by iFinex (the parent company of bitfinex and Tether), they are enormous influence on the crypto economy and under much scrutiny by law enforcement across the world as regulations tighten and governments look to restrict access to cryptocurrency. Bitfinex wouldn't risk listing anything even potentially worthy of litigation.

>>26569634
manipulation means smart money is interested.
I've been following the price since BFX announcement.
I think under 25c is a good entry point.
please don't make me regret this, I don't have much hopium left.
>7.5k XSN Good enough?

>>26566935
open channel - gas fees
close channel - gas fees

Where is the advantage now?

Alright lads I'm buying a masternode. But just a heads up - everything I touch turns to shit, so prepare for the worst.

>>26569841
Yes, are you staking?

Should I dump all $link for this shit? Is this basedboy Indian scam betray coin?

>>26570069
Dammit, he bought!
Emergency exit!

>>26570189
will stake on cloud.stakenet.io

>>26569962
If you use your own collateral for funding the channels, you never have to close them again. So in theory your gas fees is a one time expense.
Obviously if you are only ever going to make 1 trade in your life, then sure there is not much of a difference to Uniswap in that sense.
But the more you trade the more you save.

>>26570362
>dump all $link
Why in the world would you do it? Dump part of it, if you need funds, but keep a few thousands.

>>26570583
Keep in mind this is only if you want to set orders and limits. If you just want to do straight swaps the DEX already has lightning channels opened in both directions. If they aren't already open the network fronts the cost of the channel and keeps it open. Swaps end up being gas-less

>>26570412
Learn how to do tpos., There is a help page in discord. Also the written guides for vps tpos are pretty easy to understand. You'll notice a much larger income directly staking that amount rather than the cloud pool.

get this pajeet scam off of /biz/

rug was already pulled

newfags I beg you dont fall for this shit. devs pump and dumped twice already. you can only get burned

BUY LINK

>>26570362
>Dump all link
Don't so this retard. You think link rank1 xsn rank2 is a meme?

>>26571472
why did Bitfinex list such an obvious scam? dont they do any due diligence? we should notify them immediately!

>>26571472
>Scam
Got listed on bitfinex, total scam bro. See >>26571474

>>26571519
Bitfinex is currently being investigated for its role in its partnership with Tether.

https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents

https://www.coindesk.com/bitfinex-says-its-nearly-done-turning-over-documents-to-nyag

Certainly you guys can't be this out of touch. My advice would be for holders to diversify. There are still plenty of opportunities in this space, but you have to be vigilant. Don't get caught bag holding. The problem with this particular sector 'exchanges' is that there is way too much competition. Adapt.

>>26571850
We are having a good discussion for once, don't be gay and shit up the thread with your tether fuck.

>>26572121
Diversify. It's good advice. Please heed it. Don't be braindead.

>>26572121
I assure you 95% this guy
>>26571850
>>26572195
is the autistic capslock FUD spammer changing tactics

I knew this would sum up to be a nothingburger. Too bad those YT faggots couldnt pump this to 1.6$. Fuck those autofellating assvalve motherfuckers

To be honest, I fucking love the idea of getting in on a beautiful looking fast efficient dex and farming the inevitable fees, but the fud in these threads is fantastic and scares me away every time.

They scare me more than the r3fi shills

>>26571850
how is this in any way relevant?

It's being delisted from bitfinex btw

also, enjoy getting dumped by the devs again next time
>muh masternodes
oh yeah, they lied about masternodes too :)

I hope all newfags see this
>>26572999
do your research and you will avoid this. there is better stuff to invest in

>>26573075
You asked why known scammers would list a known scam. Just be smart and diversify. That way, you only lose some of your portfolio. Be smart.

>>26573227
>It's being delisted from bitfinex btw

wow no way do you have any evidence of this?

>>26573285
wow bitfinex are scammers? do you have any evidence for this?

>>26573786
listen Suhkinder, Diwali is over. go back to your amazon warehouse job. this isn't the place for you or your shit coin

>>26573786
Bitfinex is currently being investigated by the NYAG in its role in the tether scam.

https://www.nasdaq.com/articles/new-york-attorney-general-says-bitfinex-tether-could-complete-loan-document-handover-in

"The NYAG has alleged Bitfinex attempted to cover up the loss of $850 million in funds held on behalf of customers via payment processor Crypto Capital, and that it secretly borrowed the shortfall from sister firm Tether's reserves."

I don't mean to be rude, but do you have a learning disability?

>>26574044
how is this relevant?

>>26573883
thank you for providing evidence for your claims i will proceed to market sell my XSN immediately

>>26574207
Maybe English is not your first language? Are you not able to read English? Are you using a translator?

It seems as if you have some kind of disability. I recommend you have someone read this article to you.

https://www.cnbc.com/2019/08/24/theres-a-game-changing-way-for-the-disabled-to-save-but-few-use-it.html

>>26574472
Go fuck yourself and your strawmans kike nigger

>>26572635
YouTubers cost money for them to shill.
>>26572999
Checked. Fud is fake as fuck though...

>>26574912
>youtube doesn't even know about XSN yet
bullish