My first experience using AtomicDEX/FiroDEX

I hope this information is helpful.

I acknowledge that I am brand new to all this… and maybe I was doing something very wrong…

But here is a review of my experience.

Last evening I spent some time playing with AtomicDEX. I attempted 22 trades… from a sort of random list of trading pairs I might be interested in.
I learned a lot about AtomicDEX.

The first time I used AtomicDEX was maybe a week ago… and I only tried ZEC to FIRO… then back again… FIRO to ZEC. I was super impressed. :ok_hand:t3: I had not really looked closely at the exchange fees/rates. But it was slick!! :+1:t3:

What I noticed last night though, was not so good.

Out of the 22 trades I attempted… Only 3 were successful.

I calculated the total of fees simply by subtracting the USD value of the resulting coins from the USD of the starting coins… then dividing that by the starting coins USD value.

Then…

I attempted all 22 trades using the Edge Wallet, with its integrated no-KYC exchanges and the feature of finding the best rate for you on the fly.

With the Edge Wallet I was able to complete 20 of the 22 trading pairs I tried.

With AtomicDEX I was able to complete only 3 of the 22 trading pairs I tried.

Also, on those 3 swaps I was able to complete on AtomicDEX… the trade fees I paid were significantly more than the trade fees for the identical trades on Edge.app

Several times on AtomicDEX, I got errors like…

“BTC balance does not have enough funds to pay the gas of BTC transactions.” — even though I had a BTC balance of about $1000 in the local wallet which had fully confirmed days earlier

“FIRO balance does not have enough funds to pay the gas of FIRO transactions.” ---- even though I had $200 in FIRO and FIRO transaction fees are very near zero.

I also got…

“No buy orders found for BTC.”

“No buy orders found for FIRO.”

“No buy orders found for ZEC.”

“A non-zero BNB balance is required to pay the gas of BNB transactions.”

“A non-zero ETH balance is required to pay the gas of ETH transactions.”

And on all 3 of the 3 transactions I did get to work, I got a message like this one…

“Expensive: 2.56% compared to CEX”

And this info was correct. On AtomicDEX I was getting 2.56% in that case, whereas the exact same swap on Edge was 2.17%.

( Note that I did turn on ProtonVPN to give myself a foreign IP address while trading on Edge… just in case there was any anti-USA censorship happening. )

Needless to say… AtomicDEX lost a lot of its luster in my eyes. :cry:

Meanwhile, Edge Wallet continues to sparkle more by the day. :+1:t3: :raised_hands:t3: :clap:t3:

2 Likes

For BNB and ETH you need to have some initial ETH/BNB for even to trade anything including ETH/BNB. It’s an unfortunate nature of EVM + atomic swaps.

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Hi, it’s Tony from KomodoPlatform.
I’m a project manager and QA lead of AtomicDEX protocol and interfaces.

At first, I’m sorry that your experience of AtomicDEX was unsatisfactory.

Blockquote
“No buy orders found for BTC.”
“No buy orders found for FIRO.”
“No buy orders found for ZEC.”

In the AtomicDEX network all the orders maintaining by real people in P2P orderbook (you can get a full orderbook in a pro trading view interface). Every asset can be traded with every asset and there are ~300 assets listed in desktop GUI what creates a thousands of potential pairs and there is a real person behind the each order. Right now there is just no liquidity for some of them.

Blockquote
“Expensive: 2.56% compared to CEX”
And this info was correct. On AtomicDEX I was getting 2.56% in that case, whereas the exact same swap on Edge was 2.17%.

This rate is set by person who placed the order. Complete freedom for users of the protocol adds such moments. If someone will place better rate maker order the rate for taker will be better (fee for makers is 0 so potentially there might be very attractive orders)

Blockquote
“A non-zero BNB balance is required to pay the gas of BNB transactions.”
“A non-zero ETH balance is required to pay the gas of ETH transactions.”

Yeah, as Ruben said above for EVM based chains native blockchain asset is needed to pay the gas fees (since all the transactions performing on real blockchains, not in some sort of DB as in centralised solutions).

Blockquote
“BTC balance does not have enough funds to pay the gas of BTC transactions.” — even though I had a BTC balance of about $1000 in the local wallet which had fully confirmed days earlier
“FIRO balance does not have enough funds to pay the gas of FIRO transactions.” ---- even though I had $200 in FIRO and FIRO transaction fees are very near zero.

It might be some bug (e.g. rounding/calculations). I’m glad to assist on this matter, and if there is a problem, we will fix it in the next release. Feel free to contact me directly in TG Telegram: Contact @jl777fan or join our Discord Komodo (whole KomodoPlatform team is always glad to help here)

2 Likes

We are providing liquidity for BTC and other pairs though but I think he was using simple swap.

Thanks for coming btw!

1 Like