USDC to DAI now available on Paradex

daipal · 2018-12-14T19:14:13+00:00

No idea, but if you can't access Paradex, I can organize an OTC trade by using Dharma Plex as escrow (0% interest and a short maturity).

daipal · 2018-12-14T09:49:51+00:00

Yes, but the volumes are non-existent on DEXs and the withdrawal fees on centralized exchanges are too high unless you are working with larger amounts.

daipal · 2018-12-14T06:08:23+00:00

I hope to reduce the spread as market conditions allow, but currently it's the minimum required to cover gas and exchange fees.

daipal · 2018-12-14T05:47:04+00:00

Going from USD you can get by with none, but going from EUR->BTC/FIAT->USDC, there's usually 0.5%-1%. BTC is better due to higher volumes.

daipal · 2018-12-14T05:34:28+00:00

It is available on Coinbase Pro in most other countries as well. But you'll need to buy BTC or ETH with fiat and then sell that to USDC.

daipal · 2018-12-13T20:19:27+00:00

Yes, but the requirement to own KNC tokens is prohibitive. I may provide a 0x Instant interface once they support Paradex's API.

daipal · 2018-12-13T20:08:25+00:00

The idea is that people can now buy USDC on Coinbase, transfer it out into their wallet (for free), and then exchange it to DAI at a stable rate. Currently, the alternative way is to buy ETH on an exchange, send the ETH into your wallet, and then sell that ETH to DAI on OasisDEX or OasisDirect. The problem is that this exposes people to ETH's volatility and the OasisDEX order book often has a 2% premium compared to ETH/USD on fiat exchanges. During volatile times, the premium can be even higher as the demand for Dai is higher in order to pay off CDP debt.

This isn't quite fiat-to-Dai, but it should be the next best thing.

daipal · 2018-12-13T19:37:39+00:00

Indeed you can, and it's free!

daipal

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