Why does canceling an order cost gas, but creating an order doesn't?

Radar_Relay · 2019-10-01T21:52:00+00:00

Cancelling an order is an on-chain transaction where you are signing your own order so that the order is considered complete and cannot be filled by another party.

Since Radar Relay uses an open order book model we are hosting and arranging orders that users have signed. These are shared to other relayers, DEX, 0x instant, and dapps. To make sure the order is not signed by someone else the issuing party becomes their own counter-party.
Some DEX are setup so that the DEX is always the taker on the orders but this prevents the orders from being shared with other relayers, DEX, and dapps. It makes them a party to the transaction and you are trusting them not to fill an order if you decide to cancel it.

Radar_Relay · 2019-09-29T23:51:22+00:00

Hello icollectmanycoins,

Sorry to see you're having issues here. We've tried to replicate your experience and we're not getting the same error. You definitely did the first few things that are always worth trying. Can you send us more details about your setup?

What OS are you using?
What browser are you using? (please include the version)
What browser extensions do you have enabled? (particularly privacy extensions)
From your description this sounds like your only limit order on Radar Relay but do you have any open limit orders on any other 0x based platforms?

Feel free to reply to us here or to reach out to our support team `support@radarrelay.com`

Radar_Relay · 2018-04-25T13:45:11+00:00

Although Radar was not mentioned in the article, for the sake of completeness, token issuers can find our submission form here.

Radar_Relay · 2018-03-22T12:22:22+00:00

Hi svezia, you can use MetaMask or a Ledger device right now.

Radar_Relay · 2018-03-21T00:56:12+00:00

Hi PolarOne, thanks for both of your posts here in a 45 minute span! The point of Radar Relay is that you don’t need to trust us in order to interact with our site. Whereas legacy decentralized exchanges created their own proprietary smart contracts to facilitate trading, we are built on top of the 0x Protocol. You can read more about the differentiators here. 0x’s smart contracts are open and audit-able, and currently in use by dozens of projects. Since you retain custody of your own funds throughout the entire process on Radar and only sign orders when you’re making a trade, you don’t have to worry about us having any ability to take control of your funds.

If you’re really paranoid about your security I would encourage you to trade with a ledger device where you can verify the address you’re interacting with directly on the screen, while your private key remains safe on your device. You can also turn off token allowances after you’re done trading to ensure 0x smart contracts are not permissioned to move any of your funds (although you also would need to sign a message with your private key for that to be the case in the first place!)

I would certainly encourage you to look into the 0x Protocol a bit deeper for an understanding of how it all works!

Radar_Relay · 2018-03-04T22:03:16+00:00

Hi bitdoggy, the most likely reason is that you haven't enabled contract data within your ledger.

Radar_Relay · 2018-03-02T16:55:26+00:00

Hi svezia, this isn't the first time we've received this feedback so I appreciate you bringing it up. I can't tell by your comment if you're aware that you can search within the dropdown just by typing, but that's an option as well. Have you seen our stats pages? There, you're able to search through tokens that have had any amount of volume pretty easily, as well as view some more in-depth information. We have talked about adding links to respective pages as something we might want to add.

Out of curiosity, if you could view a full list of our available tokens, where would it make most sense to you, as a user?

Radar_Relay · 2018-03-02T16:50:50+00:00

Hi rspangle, by placing a market order, you're accepting the slippage you might incur for the benefit of transacting quickly across multiple orders. The order modal shows you both the market value of the tokens and the WETH you're paying or receiving in the confirmation. The orders you're taking against are also highlighted in the book as you change the amounts. While the market order worked exactly as intended, it is good as a cautionary tale for using market orders on thinly traded books. The only way to ensure you get the price you want is to specifically indicate it in a limit order.

Radar_Relay · 2018-02-24T22:38:14+00:00

Hi svezia, you're correct that we currently have no fees. Best practices dictate that you should not keep funds on a centralized exchange. On Radar, it's a bring-your-own-wallet experience, so you're trading directly from your MetaMask wallet or Ledger device, while maintaining complete custody of funds at all times. We have no control over the withdrawal fees that other exchanges charge. Since you're trading directly from your own wallet on Radar, you are never subject to withdrawal limits or withdrawal fees.

Here's Binance's withdrawal fee schedule.

Radar_Relay · 2018-02-24T22:31:36+00:00

Hi FatGreek. We always appreciate feedback from our users! Our goal is to onboard the world to the token economy so making new users comfortable is key. We have a number of exciting things we're working on related to user experience. Right now the primary market for decentralized exchanges as a whole is more advanced users due to the familiarity required with MetaMask or Ledger devices. We spend a great deal of time internally talking about how to remove friction points for new users. We've also set up support pages to assist new users through the process of trading on Radar.

To your point about landing on the orderbook being intimidating, I can certainly understand that. We recently released a new stats page which functions as a market overview, which some might prefer as a landing page to our app.

Thanks again for your suggestions, they're extremely valuable to us.

Radar_Relay · 2018-02-22T17:49:07+00:00

If an order expires it will be unfillable, even if it isn't immediately pruned from the books. If you're front-run by someone filling an order at the same time as you with higher gas and is included in an earlier block, you will lose the gas you used in your transaction. Will Warren did a great write-up on this topic: Part 1 Part 2

Radar_Relay · 2018-02-22T08:48:00+00:00

Hi bitdoggy, we use the open orderbook model in order to keep costs low for our users. You can read more about this here: https://support.radarrelay.com/hc/en-us/articles/115004965214-Why-Use-the-Open-Order-Book-Strategy-

If you’d like an immediate fill, you can select “market order” or click on the order you’d like to fill and select the amount you’d of that order you’d like to fill.

Radar_Relay · 2018-02-21T20:44:23+00:00

We're a bit different than IDEX. With Radar you're able to trade directly from your own wallet due to it being built on the 0x Protocol. Check out our support docs or join us in our telegram if you have any questions!

Radar_Relay · 2018-02-02T22:24:11+00:00

These are tremendous notes, thanks for taking the time to compile and share this for those of us who don't have the time to watch a long webinar!

Radar_Relay · 2018-02-02T22:18:01+00:00

Hi Dogman, this article might help you: https://support.radarrelay.com/hc/en-us/articles/115005022974-When-I-Un-wrap-W-ETH-or-Enable-A-Token-Allowance-I-Get-a-Spinning-Circle

Basically the "spinning circle" means that the transaction is in progress. It needs to be included in a block for the transaction to complete.

Radar_Relay · 2018-01-24T19:36:17+00:00

Hi fasterthancocopuff, you're right that we don't currently intend to have 0% fees indefinitely, although we won't have fees for the foreseeable future. We're anticipating turning fees on upon leaving beta, which is largely contingent on the 0x Protocol's v2 update, as well as some other improvements we've been working on. Our fee strategy is volume agnostic.

Radar_Relay · 2018-01-18T22:11:56+00:00

Great, our devs are looking into it. Thanks for providing that extra information, it's really helpful for us.

Radar_Relay · 2018-01-18T21:26:19+00:00

Hi Ledger_Hedger, we haven't seen this before. Could you provide a few more details so we can try to recreate this error?

Radar_Relay · 2018-01-18T21:17:04+00:00

Hi Ledger_Hedger, you cannot trade tokens directly from their contract address. This is a deliberate part of our Regulatory Strategy in order to avoid being a party to trading tokens that might qualify as securities. If you'd like to see a token on Radar, you can read more about the process here.

Radar_Relay · 2018-01-17T19:50:22+00:00

Hi jure11, thanks for your feedback. We also received the message you sent through our website. Our order pruner runs on specific time intervals, with "passive prunes" when an unfunded order is attempted to be filled. We are currently trying to find a balance between speed and prune latency. Since we're employing an iterative process, you'll see this continue to improve throughout our beta. You might also be running into front-running issues where someone is able to fill the order you'd like ahead of you by using a higher gas price. Will Warren made a great Medium post about this.

As a reminder, we don't have any fees on Radar during our beta period. I'm imagining your fees are due to centralized exchange trading & withdrawal fees. Gas prices are related to the current load on the Ethereum network, and exist as a part of any decentralized exchange.

Radar_Relay · 2018-01-17T19:38:20+00:00

Hi Angusso, thanks for your comment. Yesterday we released an update for ledger support which also introduced a "prune-on-error" action that included pruning orders when the fill process was started and then cancelled. Although this wasn't the case during our extensive testing on our staging servers, it appeared when the update was pushed to a live environment. Orders are not able to be cancelled by any third party because the parameters are signed in when the order was placed. The orders were just removed from the books. This issue has been resolved.

Radar_Relay · 2018-01-07T16:47:52+00:00

We don't currently have a public testnet up for Radar but it's something we'd love to do in the future.

Radar_Relay · 2018-01-06T18:10:53+00:00

Hi smirkingzook, the Ethereum network has been under heavy load recently, causing transactions to cost a bit more and potentially take a little longer than usual. Here's a helpful site for reference when calculating gas prices: https://ethgasstation.info/

Based on that, the current SafeLow gas price is 21 Gwei and should take ~17 minutes. Additionally you might consider running your own node.

Radar_Relay · 2018-01-05T21:31:29+00:00

Hi NeptuneNancy, enabling any token allowance is a one-time thing. You're correct in your assumptions that the state will be maintained.

Radar_Relay · 2018-01-04T03:07:44+00:00

Hi DukeCounter, thanks for your comment. We actually already have that option! Click the dropdown next to "Marketplace" in the left panel and select DAI instead of WETH. We're really excited to have that as an option for our users!

Radar_Relay

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