Topic: FINALLY- we can now exchange coins between different blockchains (ETH,BTC,TRX) (Read 316 times)

Hey guys, we start a new Bounty. You can join and try the dApp in a few minutes.

Christmas #Bounty ❄️ 🥳

🎄 "Swapping December" 🎄

One of all swaps executed on Jelly in December will win 300$. On the 2nd of January, we will select one random address (live 🎥 ) which will receive 300 DAI.
Start swapping! 🎁

https://jelly.market/

And we are live! Jelly is officially launched on the testnet https://app.jelly.market/swap/ETH-TRX

Simple overview:

1. Cross-chain atomic swaps allowing seamless asset exchange between different networks.
2. Liquidity providers (i.e. market makers) will be able to provide on-demand liquidity by simply running a docker image. Whenever a swap request is initiated by the user (on-chain) the market maker with the best price will be picked.
3. Similar to UniswapExchange pools, but without the locking of funds - they just have to be available in the market maker's wallet whenever a user initiates a swap.

Next steps:

1. Soon users will be able to use BTC to lend and borrow using Compound through the jelly_swap interface. And hopefully any other dapp.
2. AE and EOS are already in the works and shall be available in December.
3. A mobile app is also coming in the foreseeable future.

Go try the dApp. Leave feedback - highly appreciated.

(If you don't have test ETH, click here https://faucet.ropsten.be/ to get some)

Video demonstration on how to Swap with Jelly and participate in the Bounty. https://www.youtube.com/watch?v=crsUxruMcwk

Don't forget to leave feedback here: http://bit.ly/37fMDDL

If you still wonder how to make a Swap with Jelly, you can watch this tutorial https://www.youtube.com/watch?v=9NXVJPJFtG8

BlockDX supports only Bitcoin like blockchains - No ETH, TRX or EOS.
AtomicDex looks promising- it is still in beta like we are. It is not very clear how does it works, but they are using Komodo which is similar concept to Jelly HTLC approach.
NebliDex - the site looks a little bit out of date. I am not sure how does it work, but it required to download an app and to have .Net 4.5 at least, which is not cool.

We strive to make the service as simple and efficient as possible.

Now we have web version, but everyone can download the code and run it locally, 2nd we will release desktop/mobile version which everyone can run on his own machine.

How does your solution compare to other HTLC atomic swap decentralized exchanges, such as:

BlockDX (https://blocknet.co/block-dx/)
AtomicDex (https://atomicdex.io/)
NebliDex (https://www.neblidex.xyz/)

What I have found is that centralized gateways (such as website domains)  for decentralized exchanges are vulnerable to DNS hijacking attempts or forced takedown. How do you safeguard against this?

Two days left!

Join our #bounty on Nov 20th and win $15! 🚀🚀
👍 Follow us on Twitter https: //twitter.com/jelly_swap
💬 Join our Discord https: //discord.gg/3fCbp9U
🔃 Swap:
✅ go to the dApp https: //app.jelly.market/
✅ connect your wallets to start
✅ a pop-up will appear to tweet your ETH address automatically
✅ you will receive testnet ETH
✅ finish the Swap and win 5$
📢 Leave feedback http: //bit.ly/37fMDDL and win 10$

‼️For all the early birds - register here to be among the FIRST who will receive testnet ETH on Nov 20th. Swap and Win 🥳 http://bit.ly/2XlI46k

Basically, yes. You would have to wait, but that's why we've built a pool of liquidity providers. So you will know in advance if there is liquidity to cover your needs. If the app allows you to do the swap, then most certainly there is available liquidity that will be supplied for your swap.

what will happen if during my exchange eth to trx there is no one selling any trx that time?
will my exchange pending until someone wants to sell their trx?

Thanks for giving it a chance!

About the difference:

- No middle man, really. You will be able to exchange one asset from network A for another asset from network B (e.g. BTC for ETH). We know that there are a lot of services allowing this - ShapeShift, Changelly etc. BUT the difference is that with Jelly it happens without the need of a trusted party between A and B (i.e. ShapeShift, Changelly). Hence, if Alice wants to swap her BTC to Bob's ETH, both Alice and Bob can now interact directly with the respective blockchains - no middle man services. This also makes the exchange almost feeless.

- Another use case is Compound. You can use Jelly to supply ETH/DAI/WBTC to Compound having only BTC. In contrast, if you choose to use ShapeShift,  you have a lot of additional steps before finally reaching Compound.

- One more cool use case. By using Jelly you will have a bridge between MakerDAO and BTC or any other coin implemented into Jelly. For example, you can go and open a CDP, generate DAI and come swap them for Bitcoin. 

- The process is relatively fast (actually as fast as it could be at the moment) and easy. The user experience is great even if you are very little familiar with cryptocurrencies/blockchain.

- The whole process is mathematically and cryptographically secured. The whole source code is/will be open sourced, so it can be easily verified and thus trusted (or not).

i just submit using the form above but I'm still confused about what makes you different from other exchanges like shapeshift or coin switch?
because i think it's almost the same since if you want to use shapeshift you need to send eth and you will receive trx in your account

Almost there - we are focused on final tests and fixes. On Nov 20th the dApp will be available on the testnet for ETH, BTC and TRX. You will be able to try the swaps. In the form below you can provide your ETH address in order to send you some test ETH for swaps on Nov 20th.

http://bit.ly/2Q4bi7Y

it's fixed, thanks for the feedback again!

Thanks for noticing it but you should fix it asap. Because it's misleading that when someone visits your website it's also telling 'jelly.io' but if someone tries to visit that tab title website.

It will be showing nothing, yes, no website as it's not registered with any company/owner. Aren't you the web developer of this website and your position is for marketing?

I think that later tonight you can test again.
We are upgrading some of the logic and doing internal tests.

Last but not least, you can try the refund functionality.
After a few hour you should be able to refund your locked funds, if the withdraw is not available.

If someone wants to try the system or to receive some test tokens, you can approach us in discord:
https://discordapp.com/invite/C9mYrWM

Hey, thanks for the feedback! The official release is on 20th of November and until then a lot of internal testing, fixing and modifications are going to happen (leading to the platform malfunction). On 20th of November everything will going to work around the clock, so please stay tuned!

don't forget that my transaction is not from the real chain it's on testnet server.
as you can see this post


i already try 2 transactions for eth-trx but when my eth deposit is working but for trx withdrawal is not working

Your website supports withdrawal now or only after 20th now when website is officially launched? Seems like a user having issues with withdrawal of swapped TRX.

As people were asking about an official announcement, you can now see it here: https://bitcointalksearch.org/topic/ann-jelly-swap-real-implementation-of-cross-chain-atomic-swaps-5200835

As far as I know, most of these work on top of bitshares.
So it is a separate blockchain and tokens are backed by real assets.

In our case you send e.g. swap ETH for BTC on both networks.
You receive BTC directly in your wallet, not representation of BTC on some other network, that you have to move to real BTC.

There are smart hash time locked contracts/ Bitcoin Script for every supported network.
So the swaps are happening on-chain.
For the end user is just a one-click, packed in beautiful and simple UI which is connected to all smart contracts.

Check more here:
https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf

Yes it is still beta, we will release the testnet version on 20th Nov.

However, even now you can swap on the testnet.
We can send some test ETH and test TRX

Thank you, we will fix it today or tomorrow!

Hey there, you have an interesting project here however I'm bothered by this;
Obviously, linking the wallets to decentralized exchange site could be risky for user since it could be vulnerable when someone hack your site or have some bugs.

By the way, is your project is still on beta? I saw only eth and tron is currently available for swapping.

Talking about these decentralized exchanges what do you guys think of this: https://dex.wavesplatform.com

Is this what we are looking for or this something else that they are not saying. There are some more which I need to find and if I manage the links then I will paste them here.

Edit:
Here are some more:
https://bisq.network/
https://openledger.io/
https://crypto-bridge.org/

I've been hearing about it before and it made me interested of looking after it. And I guess there should be people who has more technical knowledge about this to try it out.

I noticed that the title table of your website says 'Jelly.io' while the website itself is 'jelly.market'.

Yes, the contracts are currently open sourced and soon enough the whole client side will be also open source (so you will be able to verify and audit the code). But yes, we are using smart contracts and in terms of BTC we are using P2WSH.

Ia your project open source? Can people audit the source code?

Atomic swaps are really something we need, but there is none so far.

Changelly shapeshift etc are just exchanges where someone or some script swap coins for you. A true atomic swap should be done using smartcontracts, open and auditable, without any central authority who could interfere in the transaction.

Hey guys, thanks for your feedback and comments. It's very valuable for us. Really!

What we've been trying to build (and hopefully already built) is a way to exchange one asset from network A for another asset from network B (e.g. BTC for ETH). We know that there are a lot of services allowing this - ShapeShift, Changelly etc. Basically the difference is that we allow the exchanging of assets to happen without the need of a trusted party between A and B (i.e. ShapeShift, Changelly).

The beauty of it is that the whole process is mathematically and cryptographically secured. The whole source code is/will be open sourced, so it can be easily verified and thus trusted (or not). Another beauty of it is that if you allow Alice to swap her BTC to Bob's ETH, Alice can now interact directly with an Ethereum dApp using Jelly.

Simple real life example is Compound. You can use Jelly to supply ETH/DAI/WBTC to Compound having only BTC. In the case where one use ShapeShift - you have a lot of additional steps before using Compound for example.

The process is relatively fast (actually as fast as it could be at the moment) and certainly secure. In my personal opinion as a user (not a developer), I think the whole user experience is great even if you are very little familiar with cryptocurrencies/blockchain.

I think that with YOUR help we can build great product that potentially can accelerate the usage of dApps across our community. We would be very happy if you give it a try when the testnet is officially live and give us your precious feedback.

If anyone of you have any kind of questions ( tech or non tech ) please ask I will answer them ASAP.

Also, soon we will make an ANN thread as per your suggestions. Thanks!

Cross-chain atomic swap shows the real essence of how Satoshi said bitcoin should be used, which is p2p, without having to trust any third party exchange (and is usually centralized). Cross-chain swaps allows users to trade bitcoin with other cryptocurrencies like ETH, TRX and such or trade bitcoin and other different bitcoin for the users privacy concern and purposes. Atomic swaps protocols that exchange two different types of cryptocurrency can introduce optionality. Optionality in financial context is expresssed by options pricing.

Changelly is a bitcoin and altcoin exchange where users can shift between coins without the need of depositing coins to the exchange. Although the service is quite similar, what makes Changelly different but what the topic is pertaining, is that changelly is a centralized exchange while the one that was mentioned in the post is using cross-chain atomic swap which makes it a decentralized one.

This is interesting. How did you do that. I mean a little technical aspect will help me to understand and may be for the visitors too.

The innovation is the whole system not the HTLC in particular.
All the smart contract on the different blockchains, blockchain event listeners, liquidity provision modules packed in simple and intuitive UI for the end user - this is the innovation.
I have not seen massively used cross-chain atomic swap widget, working on chain, have you?

It is different changelly is centralized service, this one is dcentralized and trustless.

First, this is not new.

Second, you should move this topic by using the "Move Topic" button on the bottom of the thread, the correct place is "Service Announcements (Altcoins)" as your site does not support Bitcoin payments as far as I can see.

I think this Bitcoin Discussion board is a wrong board for this topic. The best suit will be Service Discussion (Altcoins)
Talking about the service - it seems like Changelly type ?

Hey guys,

We are working on a new dApp which will help you exchange coins between different blockchains. Finally, we made a real implementation of cross-chain atomic swaps and it is working. We start with Bitcoin, Ethereum and Tron. Soon also EOS, NEO, Aeternity. We are determined to solve the interoperability problems between the different blockchains. It's high time to really start using crypto!

We launch on Nov 20th on the testnet.
If you want, you can write down your ETH address and we will send you some testnet tokens to try swap with the dApp.
Feedback is highly appreciated!

https://jelly.market/