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KMD-Tradebots

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Timestamp Message
14 Dec 2018
15:30:57@komodobridge:matrix.orgkomodobridge[discord] <jl777c> the 200%+ affected liquidity the most
15:31:24@komodobridge:matrix.orgkomodobridge[discord] <jl777c> the concern is that without any dexfee at stake, what incentive does bob side have for completing a swap, especially the refund cases
15:33:03@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> The bob could not send deposit after Afee, there was no incentive for him to do it if he's malicious and just wants the Alice to spend some funds and time for useless swap.
15:33:58@komodobridge:matrix.orgkomodobridge[discord] <jl777c> yes. but now we need to make sure that at every step in all other cases, bob has incentive to complete the next step
15:40:20@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> Maybe I miss something but nothing really changes, there is always a case that someone loses the fee if other side doesn't follow the protocol. I think the "incentive" to complete the trade is somewhere outside the atomic swap protocol: e.g. Bob wants to buy some beer for KMD, but beerstore accepts only ETH so Bob opens HyperDEX and puts the order to exchange his KMD to ETH.
15:40:54@komodobridge:matrix.orgkomodobridge[discord] <jl777c> i guess we eliminate a lot of the deposits coming back cases, without the deposits
15:41:26@komodobridge:matrix.orgkomodobridge[discord] <jl777c> and once the first spend using secret is done, the trade is done other than the other side doing their half, which they are fully motivated to do
15:47:56@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> 1 side always have to start the swap, let's compare a couple of cases: 1. Alice doesn't send the fee - swap is aborted (both versions). There is no incentive that might force the malicious Alice to send the fee. 2. Alice sends fee - but then Bob doesn't send the deposit (old version) or payment (new version) - actually nothing changed. Alice loses fee in both cases. There is no incentive that might force the malicious Bob to send deposit/payment.
15:49:20@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> The only incentive might be reputation system: nobody will soon trade with malicious keypair owner, however it's not hard to generate a new one and keep cheating.
15:52:03@komodobridge:matrix.orgkomodobridge[discord] <ComputerGenie πŸ‘΄πŸΌπŸ“’> `Bob opens HyperDEX and puts the order to exchange his KMD to ETH.` And if Bob lives in a rural area Bob gets his beer 3 weeks later...
15:52:58@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> @ComputerGenie πŸ‘΄πŸΌπŸ“’ Wanna increase KMD blocktime to 3 weeks to make it real?)
15:54:20@komodobridge:matrix.orgkomodobridge[discord] <ComputerGenie πŸ‘΄πŸΌπŸ“’> block times have no impact on how well SPV interaction does/doesn't work for a large percentage of the population
16:04:42@komodobridge:matrix.orgkomodobridge[discord] <artem.pikulin> The other important thing to mention: we want to eliminate the difference between liquidity provider and taker (like it is on centralized exchanges). So the user downloads the app, puts an order and might just wait until someone comes to take it. Of course he needs his app to be running until trade completes, but imagine this on mobile devices: these are actually always on so (maybe, I'm not sure about the background apps limitations on mobile OS) in ideal situation he puts an order on his phone and goes to sleep like he can do with centralized exchange.
16:07:20@komodobridge:matrix.orgkomodobridge[discord] <jl777c> sounds good
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