Shill me on XSN

[Anonymous No.22170649]

This doesn’t seem like a scam to me. The necessity for a true layer 2 dex has never been more apparent with the insane gas fees as of late, and I’ve seen that there’s a publicly available beta version of the XSN dex, so it isn’t vaporware that will never be invented.
My concern is that there are a number of players in the race to a layer 2 dex. Why is /biz/ so bullish on this one in particular, and not loopring, falconswap etc.? In particular the fact that eth/erc20 is what brings in trading volume anymore, and the Xsn dex only does bitcoin and light coin so far. I know Raiden integration is on the roadmap but will they actually win the race there? Loopring and falconswap claim time release their Raiden dex at the end of September.

[Anonymous No.22170815]

its a gamble, could drop to 5 cents, could keep goin up, pick your poison. solid investment tho.

[Anonymous No.22170925]

>>22170649
Literally not a single other L2 Dex has a beta you can download, or a proper Dev team that can answer your questions, or work with raiden Dec
Literally not a single other one
Falcon swap and all those other scams have no roadmap, no working product, their white paper is trash and based on outdated technology
Stake net is the only project set out to do what it wants to do

[Anonymous No.22171129]

Serum is already out, does the same thing and is backed by Binance’s deep pockets.

[Anonymous No.22171141]

>>22170649
If they finish raiden this will be the most used exchange for algorithmic traders.
That is something you must remember.
They are making progress, its still a bet tough. I personally own 2 master nodes.

[Anonymous No.22171178]

this is a coin that has been pumped and dumped by biz 3x already in the last few years
always makes me chuckle when it comes back

[Anonymous No.22171201]

>>22171129
>Serum
what are you talking about? You seem to have no clue what XSN does...

[Anonymous No.22171236]

>>22171178
>Pnd
>Price keeps climbing after each profit taking to higher ath

[Anonymous No.22171238]

>>22171201
Sure I do, it’s a layer 2 dex. So is Serum.
And Serum already has a full product out instead of just a beta because they had the money and manpower to get it done quickly and masterfully.

[Anonymous No.22171487]

>>22170925
this and
>>22171141
this
i barely own any, dont even own a MN but if this thing actually adopts raiden its going to swallow all the uniswap traffic overnight, with enough liquidity on defi memecoins to ward off loopring and friends IF these projects even deliver on what they say they will, and there are no real competitors in the space
its similar to how, yeah there are kinda sorta alternatives to link like band, but as soon as link mainnet dropped there was no real demand for alternatives bc of first mover advantage

[Anonymous No.22171610]

>>22171238
Serum isn’t anything like XSN, serum forces you to use wrapped assets on its own blockchain

[Anonymous No.22171750]

>>22171487
>its similar to how, yeah there are kinda sorta alternatives to link like band, but as soon as link mainnet dropped there was no real demand for alternatives bc of first mover advantage
But how confident are we that they will attain first mover advantage? You say loopring doesn’t have a working product but their dex is already out according to their website

[Anonymous No.22171767]

>>22170649
A most comfy hold

[Anonymous No.22172052]

Serum is wrapped shit.
Falconswap can't even tell you what L2 solution they're using. People are questioning if their VCs are even real.

[Anonymous No.22172185]

>>22172052
What’s the problem with wrapped tokens?

[Anonymous No.22172362]

they fucked up in their design, maybe it's to do with it being layer 2. but oh well. it won't get uniswap levels of trade because uniswap is used for farming and anyone can list there. even if coins get listed on the stakenet dex, you can't farm with it, and so it won't capture any of the defi fags.

however, if it works and the raiden thing is possible. it'll probably get an okay amount of trade doing btc/erc20. but i don't suspect it'll get a fuck ton. there's just too much money to be made farming with pools. if stakenet change their design and go down the liquidity pool route, where anyone can just stick in a contract address and then that's it. it would be great, considering it's layer 2.

not a scam though, just won't see a lot of action imo.

[Anonymous No.22172390]

>>22172185
It isn't true interoperability, you have to trust the wrapped asset is backed.

[Anonymous No.22172430]

>>22171178
by this logic BTC has been "pumped and dumped" numerous times.

[Anonymous No.22172607]

>>22171238
serum isn't an L2 dex - it's effectively a side chain/"shard".

[Anonymous No.22172681]

>>22172185
They are wrapped assets on a completely different chain, so not only do you have to trust the peg the asset is wrapped to but you also have to trust the chain it’s running on too. Wonder why CZ backed it, they have full control over the real assets while you play with fake tokens.....

[Anonymous No.22173048]

Usability is fucked. Way too difficult to use atm. Inb4 it’s going to be like uniswap

[Anonymous No.22173323]

>>22173048
Yeah they realized its too complex so they will set up a swap like UI

[Anonymous No.22173724]

>>22173323
uniswap is more than a ui though, i'm sure they realize this. but just because it 'looks' like uniswap, doesn't mean you're gonna get those users.

uniswap is used, because of farming and all other dapps right now connect to it.

still, maybe the raiden integration will allow eth dapps to work. though i'm not sure what the point will be since there is no pool function.

[Anonymous No.22174016]

>>22173048
its going to have an easy mode that functions like uniswap

[Anonymous No.22174098]

Also, the dark cyberpunk-theme is so 2017.

[Anonymous No.22174278]

>>22173724
This doesn't really add up as a great argument. Pooling basically gives users with assets some reward for providing liquidity. Assuming the Stakenet DEX achieves liquidity, which seems well planned for, then the only thing that is missing is users being rewarded for holding a certain asset, but this is exactly what XSN is. By holding Master Nodes or staking XSN itself you secure the network the exchange runs on (and any future DAPPs built on XSN) and are rewarded.
Its probably more attractive than pooling considering you don't have to hold speculative assets to be rewarded ,assuming DEX reaches adoption, which it has a good shot at.

[Anonymous No.22174377]

>>22172362
stakenet allows daps that for example use bitcoin for farming... think really deeply about what I just wrote.

[Anonymous No.22174723]

>>22171750
I can’t help but notice that every other competitor mentioned so far except loopring has been addressed in some way. Makes me feel like they must be the most likely to spoil Stakenet’s chances at victory.

[Anonymous No.22174995]

>>22174723
I guess for starters they don't have lightning.

[Anonymous No.22175208]

>>22174995
Right, but Stakenet does and it isn’t getting any volume.
I feel like people aren’t going to exchange bitcoin over layer 2 DEX’s, they buy and they hold. Frequent traders are more in the erc20 game, and that’s my fear with xsn. If loopring actually has an L2 eth dex already, all they have to do is advertise it and they beat Stakenet to the punch.

[Anonymous No.22175324]

>>22175208
>chink scam
>mass adoption

[Anonymous No.22175335]

>>22175208
Bullshit.

Who is this loopring?

XSN is the first to release a Raiden Dex

[Anonymous No.22175395]

>>22175208
Its such a stupid argument. Firstly, reason they don't get volume is because its open beta and there are only three pairs. Wait until Raiden is released and all ofERC20 is supported.
Secondly the reason BTC is held is because its slow and expensive to send it. With lightning, which you can fully use on Stakenet Dex right now, they are fast and cheap.

[Anonymous No.22175515]

>>22170649
Pro
>good development track record
>dedicated team and community
>no ICO
Con
>not very well known
>no major partnerships or industry backing
Relative to many defi tokens, XSN is quite advanced. As more people are sold on the underpinnings of defi, I see it working well for them - simply because they have a different and powerful technology readily available to talk about.

[Anonymous No.22175668]

>>22175324
Is loopring backed by Binance too? I know serum is.

>>22175335
https://loopring.io/trade/LRC-USDT

[Anonymous No.22176369]

>>22175668
Serum is not even 1 month old, has a shitty tech and it's "backed" by Binance? I bet all my shitcoins Serum is a shitty token made by CZ to try and compete with L2 dex's

[Anonymous No.22176403]

>>22170649
>Why is /biz/ so bullish on XSN
/biz/ was never bullish on XSN and never will be.

[Anonymous No.22176580]

What I’ve garnered from this thread is that I shouldn’t be nervous about serum or falconswap, but it seems like nobody has a solid answer as to why loopring won’t compete. Guess that at least narrows it down to just two to keep track of. Thanks everyone!

[Anonymous No.22177472]

>>22170649
cut out the middleman and invest in l2 itself. buy rdn

[Anonymous No.22177584]

>>22172390
ic part of "trustless" don't you understand?

[Anonymous No.22177627]

>>22176580
>I shouldn’t be nervous about falconswap
>Anonymous team, launched post Stakenet hype, nothing to show but fancy logos.
IDK seems like a bad call.

[Anonymous No.22177713]

>>22177627
I meant I’m not nervous about them dethroning Stakenet. Only loopring seems to be a viable competitor on the Raiden side.

[Anonymous No.22177786]

Xsn is a true solution. Wrapped assets are centralised

[Anonymous No.22177973]

>>22177786
Explain how
>wrapped assets are centralized
for the folks at home.

[Anonymous No.22178105]

>>22170925
I...is this true? I dont want shill answers just truthful discussion

[Anonymous No.22178171]

>>22178105
loopring.io
Stakies are lying like they always do

[Anonymous No.22178249]

>>22173724
...the algos look slightly different because of the different market mechanics of an order book vs. a swap function, but order books are an age-old mechanic that algos already exist for from an arb/mm standpoint. This is a poor argument based on a surface-level understanding of the dex and how it differs from Uni.

[Anonymous No.22178700]

>>22178171
please explain why I have to swap eth-renbtc and not btc if it's "the same as stakenet but better and working". Sounds like just another wrapped token, no?

[Anonymous No.22178742]

>>22178700
I said Raiden only.

[Anonymous No.22179203]

>>22177786
Is this something that normies care about though? Seems like the two most important things for mass adoption are 1. is it easy to use and 2. is it cheap to use. Why would the average coomcoin chaser care if it’s centralized?

[Anonymous No.22179630]

>>22172390
bro, the assets are all back by fucking smart contracts. It's trustless.

Also take a look at the Stakenet whitepaper. It literally mentions the same thing about wrapping tokens in the 'tokenization' paragraph.

[Anonymous No.22180339]

>>22178171
>loopring.io
looks dope why shouldn't I be using it right now?
is the main difference between loopring and stakenet that stake wont used wrapped tokens and does this even matter or is this annon right>>22179630

[Anonymous No.22181332]

>>22179630
only eth needs to be wrapped. all the other erc20 tokens do not.

[Anonymous No.22181531]

>>22181332
and other blockchains that are non lightning/raiden compatable.

[Anonymous No.22181918]

>>22177713
loopring is ERC-20 only - doesn't incorporate the broader ecosystem without wraps.

It's a layer 2 solution, and it has VB's support - it's entirely possible it could become a scaling tool in the long run.

[Anonymous No.22182339]

Top 50 on cmc puts this at $3.42. That means a masternode suicide stack is bringing in $1,365/wk while sitting on a stack worth $514k. Fundamentals be damned, the moonenomics alone has me excited. Dex fees are shared with masternodes too, so you can probably figure another $1.5k/wk from them alone. Even one mn will be about what a minwage paycheck brings each week once top 50 and fee sharing is turn on. I make a lot of losing bets in crypto. I depend on the rare one taking off more than making up for the previous losses. This is a textbook definition of skewed risk. Put $30k in and watch in for a couple years. You'll probably have either 10k or 500k with passive income on top. Not a bad proposition considering you can set and forget. Don't worry about checking up on it, threads will be made here if they pull it off. If it fails then one of my other bets will cover this. Chasing pnds, meme food farms, 10% swings, all dumb tactics. Go in with a moderate sum and hope for a 10 or 20x, consolidate returns in eth/btc. This has always been the best strategy in crypto. Get 10k link first though, no moonshot is worth passing on a sure thing.

[Anonymous No.22182729]

>>22182339
> That means a masternode suicide stack is bringing in $1,365/wk while sitting on a stack worth $514k.
how much for masternode ss?

[Anonymous No.22182816]

>>22182729
15150 XSN

[Anonymous No.22182838]

>>22182729
Other thread they were saying 10, some said 3, one guy said 1. Not really sure desu so I went with the most often spouted number. Doesn't matter though, if this succeeds you'll want more of it than less. Buy what you are comfortable with and fits into your greater crypto strategy. More opportunities are around and even more in the future. This one just happens to make sense at this time and has a product almost ready. Lots of the things I look for when deciding to buy/wait/pass on a project.

[Anonymous No.22182957]

Is that sketchy russian exchange the only place to buy this? What wallets support this token?

[Anonymous No.22183022]

>>22182838
do you also hold potential competitors like loop as a hedge

[Anonymous No.22183075]

>>22182957
Ledger or xsn core, seem like the only real wallet options. Livecoin is a good cex if you don't like that sketchy one, it has no volume anyway. You can also buy it from the dex if you aren't intimidated by what the xsn discord people say is overly complicated features like market buys and placing orders.

[Anonymous No.22183123]

>>22182957
There is Beaxy, which has KYC, while Livecoin (the 'sketchy' Russian exchange no one has had any problems with yet) does not require it. You could also send BTC to the DEX and buy XSN that way, though you might want to wait till the DEX/Light Wallet allows encryption. Hop in the Discord for any other questions.

[Anonymous No.22183253]

>>22183022
I wanted to like it but wrapped assets already seemed like a bad idea to me. Then vb comes out and speaks against it so now we have a voice of authority telling people what to think. I try not to put money in projects competing with projects I bought into. I also passed on band. I'm not saying loop won't rape the shit out of xsn, nor saying it is the other way around. This is just a way of forcing myself to think more critically about my picks and having conviction. If I'm wrong I'm wrong, there is no consolation prize. I'm not immune to bias and thinking emotionally and this has helped mitigate things.

[Anonymous No.22183406]

>>22183123
livecoin is like yobit's responsible little brother whos trying to take the ivanovich family destiny in the right direction by transcending the genetic disposition to violent alcoholism that plagues his bloodline

[Anonymous No.22183438]

>>22179203

[Anonymous No.22183617]

>>22183438
kek

[Anonymous No.22184318]

>>22182339
Where are you getting these random ass numbers from??
$1k per week??? You get 9xsn every other day. Let's say you get lucky and get 50xsn in a week.
At $3.42, that's just about $200 a week...
And the 15k stack would be worth about 45k, not 514k! Wtf?

>>22182729
FYI.

[Anonymous No.22184706]

>>22184318
I'm guessing math is not your best subject. I just checked and it looks like daily xsn rewards went down again so I was off by a little, but not much. Certainly not the ridiculous amount you are off by.
5.55xsn/day*10mn*$3.42=$189.81
Seven days in a week so $1,328
150,000*3.42=513k. I must have used another decimal place giving the original 514k, but still, nowhere close to you thinking 150k*3.42=45k. Use a calculator, it's how I got my numbers and I trust it more than I trust you.

[Anonymous No.22184961]

>>22184706
so a "masternode suicide stack" is 10 MNs ? Thats crazy, ~40k$ at 25 mill mcap right now
>mfw poorfag

[Anonymous No.22185021]

>>22184961
You are priced out and will never make it

[Anonymous No.22185061]

>>22184961
Some people said three, one guy said 20. Pretty sure suicide stacks are a meme anyway, I was just illustrating how much could be made off a certain amount. If you like it you buy, if you don't you pass. There is no such thing as being priced out.

[Anonymous No.22185816]

>>22171141
>for algorithmic traders
why?

[Anonymous No.22185856]

>>22171487
>with enough liquidity on defi memecoins to ward off loopring and friends
what has to do this with loopring?>>22171610
>>22171610
>>22171610

[Anonymous No.22186317]

>>22181531
if that's the case then the dex would be pulling the same erc20 wrapped tokens already being used in other platforms.

the point is the devs don't need to do it for anything LN or erc compatible, which is mostly legacy chains not affiliated with either BTC or eth. it's a fairly small asset class

[Anonymous No.22186407]

>>22180339
why doesn't loopring have more volume than it does currently? srs question, looks like a good tool for trading.

[Anonymous No.22186419]

>>22183253
>>22182339

Sounds like good advice overall, anything else you would want to add about SNX/these particular market?

[Anonymous No.22186625]

>>22184318
block rewards estimate chart for 1 node (there are just under 2500 active Master Nodes right now)

[Anonymous No.22186671]

>>22184318
trade fee estimate chart for 1 node

[Anonymous No.22186836]

>>22185816
because it will allow faster swaps between exchanges than any other on chain solution, as it will aggregate the order books for many large exchanges on one platform. so, it allows arbitrage between cexes with fewer confirmations and in less time as it allows you to use zero-conf coin transfers.