Proposal for a branded decentralized exchange integrated on the Firo wallet itself

Hello Everybody!

I have been involved in Firo for about a year. I believe it is the best coin technologically speaking, it has the best privacy, and many great things coming soon.

Everybody here understands the need for privacy.

The problem of privacy coins is that they are, or might be, a target for governments. The more successful the coin, the bigger the target will be.

Centralized exchanges are the Achilles Heel of crypto in general, and privacy coins in particular. The obvious solution to this are decentralized exchanges (DEX).

Being on exchanges and having the option of using DEX in case a coin is removed or banned as a plan “B” is not a smart option. Because the value of the coin goes down after such bans. A multi government ban would evaporate most of the value of such banned coin.

DEX needs to be the plan “A”

Among the problems of DEX are that they can be difficult to use, they can have low liquidity, and can have way too many coins, which can be a distraction for a new user wanting to buy a particular coin.

The Solution I am proposing is to integrate a branded DEX on the Firo wallet itself.

The Firo wallet would be 3 wallets in one.

One “Tab” a Bitcoin wallet, one “tab” an Ethereum wallet and one “tab” would be the Firo wallet. The reason I am proposing only BTC and ETH is to try to keep it as simple as possible. BTC and ETH combined have over 60% market dominance. And it’s possible to buy them on any exchange in the world.

If we have too many coins, we are introducing too much confusion to users. Which makes it more difficult too use and more difficult to design.

Additionally, the fact that somebody already downloaded the wallet is a win, we should not distract this person by showing them myriads of coins to consider.

The DEX/wallet MUST be very easy to use.

The wallet itself has to accomplish all the functions it performs today.

The DEX part of the wallet only needs to accomplish the task of letting somebody buy Firo using BTC/ETH or sell Firo to get BTC/ETH. Anything else we want to design it for will probably not add but detract from the user experience.

And it obviously needs to be able to send and receive BTC/ETH.

Having this DEX wallet as the default option, with time will also help increase its liquidity. Users wanting to buy or sell Firo will have an easy accessible option. And we as a community can recommend the use of the wallet as a first option to trade Firo.

For BTC/ETH users, the Firo wallet can be marketed as an “APP” to be able to send and receive value privately.


Hi @Ariel ! Welcome!

I do agree with this. If we had much more resources this would be a priority.

There are several considerations right now:
a) Our core team is pretty lean and we are already maintaining a lot of software from the light wallet, mobile and the QT/Electron wallets. Designing, running and maintaining a DEX is on its own quite a full time job that requires a full team. This is why we have worked together with AtomicDEX to produce FiroDEX a Firo branded atomic swap DEX solution which works quite well.

b) We are unable to spare the time to port FiroDEX into Firo Electron wallet just yet. We are right now focusing on deploying Lelantus Spark which is our utmost priority as we don’t want to have to replicate work later. The priority is to deploy Lelantus Spark and then optimize, build functionality around it. Ideally the atomic swaps work directly with Spark addresses (which need quite a bit of work).

I do agree that this is something we need to focus on after Spark is deployed but hope that people will use the current DEX more so we can assess interest on it. I know it’s a chicken and egg thing but we already have quite a lot of capital tied up in FiroDEX liquidity but are seeing only limited use on it.

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This is where FiroDex mobile should be next for any future apps - this will solve alot of my accessibility (im never around a computer). Access to Firo and its marvellous features should be priority