I’m starting a new centralized exchange dedicated to Grin called grin.exchange. I’m simply leaving this open to people who have any feature requests and to update the community on news updates.
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Nice that you found your way to Grin.
We will be happy to answer any questions you may have.
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Got any experience with building and securing exchanges and funds?
I used to run an OTC desk, so I’ve got some experience with that. Mostly comes down to handling deposits and withdrawals manually for large users. I was thinking anyone below a certain size just give them a swap interface and don’t give them full access to the orderbook.
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So I already got my answer that it will be slatepack based which is excellent.
My next question is, how liquid will it be $ wise and where are the initial seeding funds coming from?
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Just do it tradeogre style. People make accounts that have their own off chain web wallet. They deposit real grin into a central wallet (yours).They then get the equal amount of off chain “coins” in their web wallets. Then they can add buy/sell order onto the orderbook with these “coins”. The only time real grin moves is when someone withdraws from the exchange into their actual wallet using slatepack or deposits the same way, All the actual trading is basically just web interface with simulated coins. You should pair grin with usdt or usdc
Gotcha, I thought you had mentioned it being a swap, hence the liquidity question. But I like what you’re proposing here much better, it may take some time, but I bet you could get ~$10k in volume like TO did eventually.
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I’ll probably just do it manually. At that volume building it doesn’t make sense.
I don’t have any funding. I’m just doing it myself. Unless you guys are willing to put some money into it.
Does anybody use Gate.io btw? I’m curious how that’s working.
Ok nvm. I’ll build an open source orderbook and from there maybe someone can take over and add liquidity. Either way, I’ll try and clear that barrier of “it takes 4 months to add support for Grin”
If that’s even an issue.
The other option is I could just work on GrinSwap. I know there’s some old atomic swap code lying around. I could try and get the refund and cancel to work if people feel that’s a better use of time. Gate.io is always there for CEX.
The simplest and most efficient way to exchange Grin, and this has already been discussed in this community, would be to implement a slatepack store. Think of it as a marketplace like eBay or Amazon, but specifically for slatepack transactions.
How It Would Work:
- Non-custodial selling: Sellers list pre-signed slatepacks with a defined amount of Grin. These slatepacks are not yet finalized, so the seller retains control until the transaction is completed.
- Secure buying process: Buyers send, for example, BTC to a reputable seller. The BTC remains in a pending state and is not claimable by the seller yet.
- Finalization and proof: The seller can only claim the BTC after finalizing the slatepack transaction and providing a payment proof.
This could easily be achieved with Shopify or WordPress for non-coders, and the biggest advantage would be the non-custodial selling part, as no one would lose Grin in case of an outage.
What about the other way for buying GRIN. Is there a non custodial way to do that?
Another non-custodial approach for buying and exchanging Grin would be to finalize and test the contract branch (scriptless script if I’m correct). This would enable the implementation of atomic swaps, allowing secure and trustless exchanges between Grin and BTC.
Gate.io requires kyc and is not available to people in America so that’s why we needed tradeogre. Running a CEX would be extremely profitable just from maker/taker fees. The thing is though, tradeogre was operating successfully for 10 years to build trust and even after all that it burned its users bad! Whatever you decide. We are welcome to any innovations.
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A CEX is good in the short term but scaling would be challenging. Any work on a DEX approach such as atomic swaps needs to happen regardless but I presume will require many multiples of resources. My hope is that we could work on both simultaneously.
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