My name is Fred, I am founder and developer of a Stellar Wallet and marketplace called Litemint. I am interested in grin for its spend-ability properties and therefore potential attractiveness as a payment method for online marketplaces.
I decided to operate a Stellar Anchor at https://grinpay.org for Grin trading on the Stellar DEX. The service will open as soon as mainnet goes live.
For now, deposit and withdrawal requests are initiated manually (via email or interactive online chat). The service will be automated to provide additional deposit and withdrawal options in the coming weeks based on users’ feedback.
Fee structure:
Free deposits
0.1 fees on Withdrawals.
50% fees collected will be donated to the GRIN project.
Early adopters should be aware that GRIN/XLM market is likely to lack liquidity initially. Provided the price volatility remains “reasonable”, we will likely operate as market maker against XLM to encourage more trades.
For any specific question about the anchor service, feel free to ask.
XLM being the native currency of Stellar any market liquid against XLM is also liquid against any other asset on Stellar due to path payments and Stellar decentralized exchange.
I assume my position on crypto? I find the “little wars” between currencies pointless and don’t adhere to discourses which try to “impose” a specific currency, protocol or platform to users - no matter how private, decentralized or subjectively “good” these currencies or platforms would be. Everyone, within the boundaries of honor and respect, should be able to trade whatever they want, with whoever they want, wherever they want based on their need and circumstances, from small groups to bigger one if the shoe is fitting. Hope that clarifies.
No fees on deposits, 0.5% on withdrawals - indicated on the website.
Stellar protocol settles trades within 2-3 seconds for a $0.0000010 fee and provides a decentralized exchange for any asset. I am particularly interested about the grin emission model, and since I am looking for currencies that are highly spendable (which value would not be speculated to the point they are mainly held), I am keen to open up an anchor, so it becomes available to Stellar users in general. Not sure I get the “talk s*t on bisq” - if you mean to compare then my point 2 provides an answer.
I was talking on behalf of my company Litemint LLC, a handful of passionate guys. We are keen to provide some liquidity (within our individual means) to Stellar DEX users (market making) depending on their interest and provided that the initial volatility of grin price allows (too volatile we would rather not sell or buy as our purpose is to facilitate trades, not speculate - this is what I meant).
As for the non-marketing speech (I indeed realize not everyone may be familiar with Stellar):
Technically, the primary purpose of Stellar is to enable internetworking between asset issuers – the protocol operates a decentralized exchange and implements cross-asset payments natively. Anyone can issue any asset on the Stellar network and - provided there is a liquid market for a given currency pair – these assets can inter-operate within that decentralized environment.
e.g. You can send 3 BTC for X GRIN seamlessly provided a path exists for the conversion. If someone maintains an XLM/GRIN market anywhere on the network, then the protocol can find a path through BTC/XLM -> XLM/GRIN for example. Users can also explicitly use the decentralized exchange with offer / passive offers operations.
Transactions for any asset regardless of the native chain properties are settled within few seconds (the time it takes for Stellar nodes to reach consensus (through the Federated Byzantine Agreement). The fee for any operation is 100 Stroop (about $0.0000010 as mentioned earlier).
This makes Stellar quite attractive for use-cases that require fast settlement but also would allow users and merchants to convert their earnings quickly into their favorite currency (whether big or small as I was making the case earlier).
e.g. Being also core-dev for a cryptocurrency that has a 1 min block time, anchoring it to Stellar has opened opportunities for us in the realm of in-app purchases for games but also for trading against otherwise inaccessible markets to us.
Is xml the coin that looked like it was allowing shitcoin generation from a web fourm a few years back?
Not sure I get the “talk s*t on bisq” - if you mean to compare then my point 2 provides an answer.
Srsly just talk shit about your competition, I really don’t care for false modesty and believe strongly in adversarial epistemology. Ones a hobbist project the other is a an exit scam waiting to happen, but what you pick on specifically is elightening in it’s own way and motivated evidence seeking is nice when kept at arm’s length and seen for way it is.
Why should I use your thing when the other things advertised frist?
Well my name (as dev) is readily available on the web and I am very active in some discord communities - I bet you will not find a single place where I talked sh*t to anyone, be it competition or other. Anyone his own values in life. Don’t assume others because of yours.
Now back to the subject, this is a case of the elephant in the dark. I have listed above the technical benefits that one can get from Stellar and I am not saying everything is heavenly beautiful in this world. Not sure about the “bisq” thing as I clearly have nothing against them, I use it like everyone else I guess and clearly appreciate their project… what’s up with that?
My approach to crypto is purely technical. I don’t deny there are scammers out there but I also reckon value in the technology one brings to this realm - Stellar is one of them.
To answer that specific point, this is one thing that is often missed about Stellar: Listing is free-for-all, there is no censorship, no curation. No one can ever control who lists what on the network.
Most networks out there (including those that labels themselves as fully decentralized) reserve some kind of veto power as to what can be listed or removed from their platform. Stellar does not and - by design - cannot. Therefore, that’s right you may find a lot of “worthless assets” listed on the network, because anyone can list anything, the platform does not have one bit of “centralized” authority on that subject.
Again, elephant in the dark, should not just caress the end of the tail and say an elephant is all hair. Openness and native censorship resistance is also a strength I think.
Galleon is going to donate 50% of the fees to the grin dev fund for the first three months, likely reducing afterwards. Is your 50% donation going to be perpetual?
NoteStellarport.io will setup your trustline automatically if not already set. Note The coinbase maturity is 24h on Grin so no one has yet any Grin deposited to our anchor - beware with OTC trades.
Happy Trading. Any issue or concern, feel free to ping me.
Hi Fred! Is this something that works with the Stellar BlockEQ wallet? What is the code for this asset and issuer address? So I can add it as a swap trade asset? These details correct? Seems like I got a GRIN wallet!?!
Domain: grinpay.org
Code: GRIN
Issuer: GCNR3JUD6XFNFZOPDK63EI57QYIOEJDLZMG24IR5KYSORCWRTPUBRWOM
now. Great work on adding the pairs so soon.