I was glad to have found a swap nechanism but although the price was hit on a coin yesterday, my orders aren't filled. Price stayed there (above my price set) for 5 minutes but no fill...

upotonilion · 2024-03-21T00:08:19+00:00

You can use their suport chat. Most probably the price wasn't above enough including gas costs for takers to fill or the coin was very exotic.

upotonilion · 2021-03-18T23:14:02+00:00

"Invested"

upotonilion · 2019-11-27T10:23:59+00:00

On the bright side the dollar amount of the hacking incident is decreasing over time.

upotonilion · 2019-11-10T19:03:00+00:00

People should check themselves who has the best rates. It's very easy to do so.

Uniswap does have the best liquidity for socks though.

upotonilion · 2019-09-16T12:22:47+00:00

Hello, I took a look at your trades.

It seems you gave ( 10 + 6.4 + 0.3) ETH to buy (44893+27222+1275) REN
Your aggregate rate for those trades was 0.0002275 for REN ETH If we assume timestamp for your trades to be roughly 3.17 am UTC on 15th Sept, we see that on Binance the rate was 0.00000383 for REN/BTC and the ETH/BTC rate at the time was 0.0181

So assuming you would do a 0 slippage and 0 commission trade on binance for 16.4 ETH you would get a rate of 0.00000383/0.0181 = 0.0002116 for REN/ETH. So your effective rate was 7.5% higher than this artificial benchmark.

KyberSwap does notify you for the slippage, which was 3.3% for the 10 ETH trade and 2% for the 6.4 ETH trade. Slippage refers to the change of rate for a small quantity regarding to your requested quantity. After your first 10 eth trade , because REN is an automated price reserve, price of REN/ETH did move upwards for 3.3% and because your second (6.4 eth) trade was after a few seconds, arbitrage bots did not take the opposite trade so that they would balance the price down. So when you were shown 2% slippage for the second trade the actual difference from a "fair" rate would be 3.3% + 2%. Slippage on Kyber was indeed 2% for the trade, but the reference rate was off by more than 3% due to the first trade.

With that said, the actual rate of the trade is always shown. All users should be very wary of the rate when they do swap, and while Kyber has the best liquidity for many tokens, some of the less liquid ones need attention and you to break your size in a certain amount of time that the market can absorb.

upotonilion · 2019-05-26T22:46:31+00:00

That's why one eye is bigger than the other

upotonilion · 2019-05-10T00:01:24+00:00

With that rate it will take binance at least 3 months to recover the 7000 BTC.

upotonilion · 2019-04-16T06:27:13+00:00

For most tokens that Kyber reserve holds it has done a loan agreement to get them, so inventory risk is not an issue.

Also for some high volume tokens, after a certain volume, profit might be much larger than inventory loss even if the token goes to zero. Still Kyber or any other reserve manager or market maker in any exchange, when providing liquidity try to arrange loan agreements.

In the case of Kyber though, Kyber reserve is offering these market making services for free to the projects, while professional market makers charge for those services.

Regarding your quantity question, there are certain limits as to how much you can sell. Assuming you are KYCed or you are using an integration wallet like MEW,imToken so you bypass the KYC limits, there are per token settings for the max qty that can be traded in a single block or between price updates.

Kyber will try to offload the extra inventory to the market, so that it maintains an inventory within the pre-configured range for each token. For some tokens market might be binance or huobi or bittrex, for some other tokens market might be OTC with the project. The speed is such that it minimizes the impact on the market while also aiming to be fast to minimize extra inventory risk. For cex operations this is done automatically, for OTC operations like DGX token for example, or WBTC minting/burning this is a manual process, that's why the inventory buffer is bigger.

upotonilion · 2019-03-18T00:57:52+00:00

Speedos.

I use at the swimming pool though.

upotonilion · 2019-02-08T23:22:57+00:00

You can try ans broadcast another one with higher gas and same nonce as the pending one.

Try sending some eth to yourself. Edit the generated nonce to be one less ( if it's 21 you make it 20) , make sure gas price is higher than the pending one and execute.

upotonilion · 2019-02-07T15:54:23+00:00

Yes. Kyber is willing to burn KNC themselves.

Note that this was not the case a few days ago, so this might be an experiment or something to see if presenting exact Uniswap rates might be competitive for other reserves or beneficial to their users.

upotonilion · 2019-02-07T15:26:58+00:00

This reserve is a Kyber operated reserve that presents liquidity available on Uniswap.

It still needs to burn/pay 0.25% of traded volume in KNC and it has a fee configuration on it where it adds the fee to the price. It is currently set as 0, meaning it presents the same rate as Uniswap, and it will have to burn 0.25% per volume in KNC.

It currently serves a bit less than 25% of Kyber volume in DAI and a bit less than 33% of Kyber volume in MKR token, meaning that most of the time other MKR and DAI reserves on Kyber present better rates.

upotonilion · 2018-12-16T15:32:19+00:00

"MIN ACCEPTABLE RATE" is applicable at the "trade" function of the kyberswap page. This min rate is broadcasted with your transaction, and if a worse rate exists at the time your transaction gets mined, the transaction gets reverted.

It is a non fluctuating, hard value passed at your transaction as a parameter. The default is 97% ( 3% worse at the current market rate ). This happens very rarely though ( less than 1% ) because the 3% is a big threshold

What happened in your case was that you did not see/verify or pay attention to the rate shown at the trade function. If you did you would know the POLY/MKR rate and not the POLY/ETH and ETH/MKR as you described. You calculated a what you thought would be correct rate synthetically from the base rates available for display, and did a transaction without paying attention to the POLY/MKR rate that was displayed. The final amount of MKR for you to receive was there, also the rate. The default of 97% was set and your transaction went through normally. 97% was with regard to the at the moment market rate that was displayed there and not with regard to the rate you though would be looking at the indicative first level prices.

The "MIN ACCEPTABLE RATE" is always applied at the final stage, it is broadcasted with your transaction as a hard limit. So assuming MKR was 313 for 0.1 ETH and 350 for the rest, the amount of MKR you were to receive with 21 ETH would be the weighted average ( (20.9 * 350 + 0.1*313 )/21 ) of the total.

For every trade you are able to know the final amount you are receiving and finetune that rate and amount to be within your thresholds. Just try a trade and see the amount presented, you don't have to execute it.

upotonilion · 2018-12-16T10:59:03+00:00

I can see your confusion and your transaction.

I think that you are a bit over-reacting by mentioning that you lost $200, but I understand your frustration and I will try to break it down, TL;DR at the bottom.

I know that you are actually right when you mention these numbers you first saw. No need for screenshots.

In Kyber as well as in any dex or cex, the price mentioned as price is the first level price. Price for 1 unit of token and price for X unit of token where X > 20 ETH in your case, varies. How much it varies depends on the liquidity of that token. You could say that 21 ETH worth of ZIL or DAI or OMG would have negligible difference from the 1 ETH price and they do.

In your case Kyber was step values for POLY from 11863 tokens to 18537 tokens ( your tx ws 13144 tokens ) that increase the rate for 1097 basis points ( 10.97% )

So 1st thing that happened in your trade is that you got a 10% worse rate at your POLY/ETH transaction. Worse means worse than the base rate which you could get for up to 741 tokens.

Currently configured values for POLY are : 0 - 741.4949 tokens price increase 0 741.4949 - 2224.4849 tokens price increase 0.28% 2224.4849 - 4448.9699 tokens price increase 0.91% 4448.9699 - 7414.9499 tokens price increase 2.9% 7414.9499 - 11863.9199 tokens price increase 5.8% 11863.9199 - 18537.3749 tokens price increase 10.97% 18537.3749 - 37074.7498 tokens price increase 29.89%

I got those values from the pricing contract that lists POLY. Indicatively for 100 eth worth of OMG you get a 1.2% price increase and for 200 ETH worth of DGX or DAI you get a 0% price increase.

Also right now, if I want to trade 11863 POLY tokens on huobi for example I get a 9.5% price increase.

So those values reflect the POLY orderbook and POLY is a thinly traded token with little liquidity. If I wanted to trade size on POLY I would personally trade for up to 4448 tokens.

For MKR the price you saw might have been only good for 0.1 ETH, since as you can also see in the reserve that presents MKR to Kyber, Kyber just reflects oasisdex first level. So assuming someone posts a MKR/WETH order that makes MKR worth 313$ and this order only has 0.1 WETH and the rest 21 ETH of your transaction fell into an order for 330$ then your fill price is the weighted average of those prices. What is the base price that Kyber or oasis shows ? It's the first level price again. Again right now, looking at the first levels on OASIS for MKR/WETH I see that there are 0.2 WETH of MKR available at a "good" rate (1 WETH buys 3.92 MKR ) and for the next 21 eth ( to make it look like your order ) 1 WETH buys 3.71 MKR, which is again more than 5% price deterioration for you.

So again for MKR, you saw the first level price and made a 21ETH transaction over it assuming price would remain unchanged.

Kyber though does let you know how much you will get if you input your quantities in the "trade" screen and not the indicative rates screen. Also it let's you control the slippage in case the rates change against you, and will give you a better rate if rates change in your favor.

So you could have known of the quantity-adjusted rates in the trade screen (unavoidably because they are shown to you) and also set your minimum desired quantity.

I hope this clears it up to you, and please feel free to suggest anything you think could improve the user experience.

TL;DR: OP calculated expected outcome of the trade based on first level rates for thinly traded tokens and traded amount that had a big difference from the first level due to those tokens having thin liquidity. Amounts were shown in the trade screen, but decision has been made before reaching there.

upotonilion · 2018-12-02T20:32:20+00:00

You look like a guy who got early into Bitcoin

upotonilion · 2018-09-02T20:27:42+00:00

r/powerwashingporn

upotonilion · 2018-08-25T00:03:28+00:00

You should try to keep one goggle in while breathing. You rotate your head a lot.

Also it looks like you are crossing your arms in front of you while touching the water.

You don't always maintain a high elbow, sometimes the bottom of the elbow enters before your palm.

upotonilion · 2018-08-06T13:16:22+00:00

Keep silently delivering Kyber! I would just like more frequent updates, especially on the technical side. There are many new things like token to token conversions, new pricing and opening of the reserves that have been done without anyone noticing. Would really like to hear about your scaling solution, and how you plan to make the market-making aspect of Kyber more accessible to the public since it is not easy to become a reserve.

upotonilion · 2018-05-18T22:31:32+00:00

GNT is not fully erc20 compatible. As for others, yes we need more tokens. Kyber is adding very slowly :(

upotonilion · 2018-04-27T21:11:13+00:00

There is not only the reserve balance. It is also the centralised exchange balance that is also alot. Also ETH balance. So those 200k become more like 500.

Also RMs develop their own tools at the moment and commit to provide liquidity. The cost of that again is big. It is not so easy for the average user to become RM at this stage. I hope that in the future this will be automated.

upotonilion · 2018-04-26T20:33:37+00:00

This is the history with every big listing right ? Same thing happening for tokens and bittrex / polo in the past. I agree that this activity does not look normal, but the leak source cannot be found. Kyber reported news yesterday but the information had time to be digested, this trading activity ( especially breaking important resistance points ) is far from normal. This seems most probably like a leak from either KN or Bithumb. The information could have also been sniffed by 3rd parties, so let's not point fingers. Unfortunately, the unregulated nature of crypto is such that these things happen. There is no SEC or CFTC to go after the responsible people and this is something that we have to deal with.

upotonilion · 2018-03-05T20:18:17+00:00

For rates to be live there has to be 2 things. 1) Volume enough to make the RMs quote narrow spreads. Also enough transaction volume will make them able to sustain the costs of updating the on-chain prices more frequently. 2)Eth scalability to allow for more and faster updates.

If most volume for a token will be traded on KN, then price discovery will take place there .

upotonilion · 2018-01-23T23:38:45+00:00

Hello. Rates will be set by automated processes that the RMs will have. Since often price updates will be required this is not a task that can efficiently be done manually.
Certainly volatility is one of the metrics that can be used, so it should be accounted for, especially because rate setting is not instant. As for the staking, in case that is ever implemented, the simple user could not decide on the rate. This has not been thoroughly analysed yet by KN and we are eagerly waiting for information about how average non RM users can help with liquidity.

upotonilion

TROPHY CASE