Some of you have probably read my previous posts about swap services having more limited Firo exchange pairs.
I believe in the Firo project so naturally I decided to shift a bit of Monero profits to Firo. I couldn’t find a single website apart from simpleswap that offered such exchange??
swapspace co shows only a few options, exolix, exchang io no support at all, stealthex horrendous fees etc.
I know this is something probably better handled by the community rather than core developers for various reasons but shouldn’t this be within top priority? Both coins cater to the same audience of privacy conscious people. Since Monero has most of that and growing adoption if there were any users to be chipped away from that community (or use both why not both? )… shouldn’t a Monero to Firo exchange pair be priority?
I’m only thinking in strategic way as if we want Monero users to see, observe and test Firo technology to have an easy path to do it not spend hours trying each exchange and hoping one will work.
How can we help achieve this? Should we simply email swap providers and kindly request it? Any thoughts?
Yeah they do have a bit of Firo on there i was able to swap.
When I dug deep on this it seems like a major problem though even if you take a look at both directions XMR<>Firo.
XMR to Firo it is only Changelly (no thanks), simpleswap (decent) & wizardswap (decent but high fees), excluding Tor/VPN blocking option of letsexchange and the next-level ridiculous fees of stealthex.
Firo to XMR it is only Changelly, Simpleswap & Wzardswap (currently 3 XMR liquidity, lol) that offers it. Stealthex for some reason doesn’t even entertain this option.
This also re-confirms unfortunately my previous posts about swap services having reduced Firo integration/removing it. If we don’t have viable options to allow easy swaps from these 2 networks that serve people with similar views on privacy and basic human rights then it will prove extremely difficult for Firo to grow in adoption. AKA much easier to convert Monero to Firo user (or encourage to use both) than a normal non-privacy focused person to the possibility and potentials of the concept of privacy coins.
Is there some sort of service or bridge or swap service we the community or with the help of core developers like @reuben can build and/or fund? I for one would be down to throw some bucks for this.
There’s some legal risk for core team developers to build swap / CEX services and then be considered as a VASP operating without a license, it makes more sense to do two things:
a) Focus on DEX liquidity (though our existing FiroDEX does not support Monero atomic swaps) though perhaps it’s time to check out BasicSwapDEX again or
b) Focus on a swap provider that allows community fund or core team to provide some liquidity. (i’ll check with a few)
Another way (which is more convoluted) is to just swap with BEP20 FIRO and then use FiroDEX to swap to native at very low fees.
Also I deeply appreciate you testing the swap services out too and encourage more community reports like this as a small core team, things like these can fall through the cracks.
FiroDEX isn’t an option at all as you mentioned. It would be good to focus on a swap provider but who they all have different challenges we are missing the smooth transitions…
Using BEP20 Firo does remove the privacy element at which point Firo might as well be just yet another token on given major network.
Wizardswap isn’t an option it has very low liquidity for Firo<>XMR
I can also confirm Exolix isn’t going to provide Firo anytime soon. Exolix as well as other swap providers have confirmed in chats with their support that their liquidity provider is “updating”/having issues with Firo. Several swap providers said they use HTX.
Since this would be a less risky option, could the core team reach out/verify to major exchanges like HTX, Binance etc. that support Firo? Sort of “hey how is it going, do you need some help with integrating firo/making it work” type of asking. I believe this takes precedent as without on and offramps it is just pixels on a screen.
An additional suggestion would be to talk with the team at Whitebit to integrate and list Firo they seem to be a decent big exchange.
I think I found out why a lot of the swap providers are failing. MEXC, one of the exchanges that doesn’t have restrictions on FIRO has had their wallet in maintenance mode for a while.
We’re now in contact with MEXC to see what’s going on and if they need help.
Xchange seems to be offering Firo indeed i looked at their website. I’m hoping exolix and stealthex follow as well and enables it as well as other swap providers.
Currently i know it is absolutely impossible to reach simpleswap whatsoever regardless if using my mobile data or home IP or vpn or tor… The issue obviously isn’t related to Firo but it does affect how one can swap coins with them being a bigger swap provider that supports Firo.
Are there any other big exchanges that need help with putting Firo back up if they have disabled it?
You know reuben all of this does make me feel to almost launch my own swapping site… god knows Firo can use the variety at very least!
Thanks once again for handling this as you handle everything else. The leadership skills definitely show and it might not be this or next year or (hopefully not) 5 years but at some point Firo will gain adoption, never give up on it! I for sure won’t!
I managed to get hold of ChangeNOW and the tech team is looking into why some swaps aren’t available. Also in touch with Wizardswap to see if we can bring down fees to 1% which would be competitive and also support Spark address support
Unfortunately i got f’d by changelly for all of my firo coin (almost $5k). I’ll make a separate post about it in a minute… apparently firo to xmr of less than $5k is kyc-actionable by these clowns. What a great way to start the week
Changelly should be removed from the providers list their trustpilot reviews are absolutely horrible. They also had no leg to stand on in their aml/kyc policy neither firo or monero have analytics and i also made the transaction from home without any vpn or anything like that. So much for helping out the community guys…
By the way apart from Changelly there isn’t any other way to swap Firo to monero. I dare anyone to give any working solution …
Firodex doesn’t even have 600 Firo worth liquidity for Firo>(any). Changenow as @reuben mentioned doesn’t have Firo enabled their support confirmed it on chat.
Places like Tradeogre have low Firo/USDT as well (right now 2400 firo, 670 USDT).
Basicswapdex - forget about this. Not a lot there and so complicated to setup…
There literally isn’t anywhere to offramp for cheap or with options. I don’t think any other place is left to check the problem is obvious.
Call me crazy but I think… we have found the bottleneck of why Firo isn’t growing. If you aren’t on a major exchange you can’t even get out of the Firo eco system regardless if BNB, ETH, Tron, XMR etc. And for a privacy coin that is a death sentence. Should seriously and I mean seriously focus on fixing this completely.
Wizardswap not a lot of liquidity I see but they are the most consistent ones to be honest.
Hoping changenow to be added indeed.
Can we look into some option where community can provide liquidity for swaps? I think wizardswap does something like this but if we can do it in a way where we won’t get rugged that will really enable Firo to go to the next level.
TBH, you can use Houdiniswap for swaps. It’s not the fastest service but I haven’t had issues with them. Please get FIRO on DCRDEX so I can provide liquidity for the community.
)… shouldn’t a Monero to Firo exchange pair be priority?
