Topic: SWATX DEX - Decentralized Zero Fees ERC20 Exchange - New Tokens/Projects Invited - page 2. (Read 819 times)

Mariia_BT, Thanks for your kind words and for your appreciation! Thanks for your understanding! Appreciate your taking time out to participate in the discussion and for posting some words of encouragement to us!

synapsisxxx, Of course it is a fork from EtherDelta! We have not hidden this fact.. How many projects today can boast of their own exchange where their community members can trade safely with zero fees and zero intervention from Admin and without the need for permission and approval from Admin of the exchange for withdrawing your own coins!?

Lol, this seems like a carbon copy of Etherdelta/Forkdelta. You have simply forked from github and panned up your own exchange, people dont even put in effort these days 

I take a great interest in this picture. I am struck by the details. I see, that someone tried to implement a similar process. it looks very interesting.

If you take any other decentralized or centralized exchange for example Binance, Bittrex, OKEX, Yobit, HitTC, or Decentralized Exhchanges such as EtherDelat, FrokDelta, EtherFlyer etc., There is a transaction fee in addition to the ETH fees for GAS.. which is not present in SWATX! the Maker and Taker fees are set to Zero in the Smart Contract of the Exchange!

See what Idex Charges...

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"What are the fees to trade on IDEX?

IDEX charges 0.2% for the market taker and 0.1% for the market maker. Users also pay gas fees to put their transactions on blockchain (read more below).

What is a maker and taker?

Market makers place new orders on the books and wait for another user to match them. They can be buys or sells. Market takers find existing orders on the books and fill them, thus taking orders off of the books.

I made a trade as a market taker, why was I charged more than 0.2%?

Market takers are responsible for covering the gas fees associated with each trade. Given our design, the exchange must pay this gas fee, priced in ether, when dispatching the trade to the network and then deduct it from the balance of the market taker. When exchanging tokens for ether the amount of eth deducted matches that of the gas fee. When exchanging ether for tokens, IDEX deducts the equivalent amount of tokens based on the price of the asset in ETH. This price is calculated using the average of the last 10 trades.

Ethereum gas prices have been increasing and often this fee is higher than the IDEX exchange fee of 0.2%. These high gas prices have led us to instituting order minimums in an attempt to reduce costs for our users (see question below on trade minimums).

What are gas fees?

All transactions on the Ethereum network cost gas, a fee that is paid to miners in order to process the transaction. Trades on IDEX cost ~140k gas. Gas costs are about 1.5x higher than EtherDelta and slightly higher than 0x, but on IDEX there is no risk of competing for the same order and wasting this gas fee. Traders receive their chosen order regardless of how long the transaction takes to settle, so as the exchange grows IDEX can continue to use a normal gas price."
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You can read more about IDEX's fees and other details here.. https://idex.market/faq

But you have ERC20 tokens, so this token is built on Ethereum blockchain which is take fees for transactions.. so how this should be zero fees? And people mostly are using Idex exchange nowdays..

traveler007, Mainly a safe and Zero Fees platform for our own SWAT Coin Community members to trade SWAT and for potential new tokens & projects who want to be exposed to and get access to the more than 1500 member SWAT Coin Investor Community from more than 39 different countries!

annazaitun87, Thanks for your appreciation. The cost of charging all the devices and the internet data charges used by the this SWAT Mining Farm is less than 40 USD a month!

What sence in another one ERC DEX exchange? Peopl are using IDEX nowdays and seems other DEX are not popular anymore. Better create some exchanges for new blockchains.

Wow, this is amazing, they get a very good income, whether SWAT income is a net or dirty value. Very satisfying results

I know many of you have sent mails just now and some of you have responded to my queries too.. Will process all the mails tomorrow.. Have a great weekend everyone.. In those countries where the norm is a five day week we are halfway through the weekend now! For some others the weekend is just starting now.. For some who have their weekly off on Friday and other days the week might be starting tomorrow.. Whether it is the weekend or not, it is always a Happy Day every day for the SWAT Coin Community!

SWAT Mining Farm owned by @antarmontar our D & M Member in Iran.. With Earnings of more than 2400 USD last month!

Banner Designed by @GetHJR and @Lois our D & M Members from Ukraine for the launch of SWATX DEX.. Check it out everyone! Thanks Yuriy and Catherine! It is really good!

JeffBrad12, The solution for that would be to have our own block chain and not have the constraint of needing the mined confirmations from miners using very expensive hardware and the problem is bound to compound further with increase in difficulty.. For example we have a simple lean mining process using an Android APP that uses almost nil hardware, battery and data.. But since we are based on a Smart Contract sitting on the Ethereum block chain we can't avoid the Gas Fees as of now..

But once we are on a independent block chain and let us assume we can have 1000s of android devices acting as master nodes with extreme lean mining apps running in the background to confirm transactions in return getting a small monthly reward which will not be paid by those who do the transactions rather by the shared sales and ad revenue generated by the project then we can eliminate gas fees completely..

We are a modest project with humble budgets.. But we have a lot of enthusiasm, energy and innovative ideas! We hope to come out with such an independent block chain with Truly Zero Fees, powered a truly decentralized open ledger that is based on lean mining apps running on millions of android devices soon!

TimeTeller, Thanks for your appreciation of our basic principle of not ever resorting to creating artificial volumes. Even if I was an investor which I have been for quite some time. I will feel cheated if after investing in a project having been fooled by big volumes and eventually find out that all this was artificially created.. Sites like coinmarketcap, etc., should stop listing and promoting such projects and coins that artificially hype their volumes.. 

We have been on several exchanges and platforms starting of with WAVES DEX initially before shifting to a mining enabled ERC20 token.. In fact WAVES DEX was extremely good in terms of speed, security, ease of use and extremely low fees! The main problem was listing it on other exchanges since it had lower acceptability and technical incompatibility..

Our project is mainly based on ad revenue sharing and app and device sale revenue sharing with small investors through block chain technology thereby empowering the simple and trusting common user who uses our device and app to earn 1 or 2 dollars a day which is a very important amount for the users in their respective countries.. The trust of the small investor and the hopeful common man who mines SWAT, is the foundation on which our project is built.. We will never let them down! So the exchange is a platform to buy sell or trade their mined SWAT or the invested SWAT.. We will never ever resort to artificial volumes since it beats the purpose of our project!

I truly appreciate your participation in the discussion and humbly accept your advice.. Thanks!

annazaitun87, Thanks for your suggestion.. But for this we have to be a Centralized Exchange.. Since we are functioning on the basis of a Smart Contract within the framework of the Ethereum Block chain.. We are constrained by the way the transactions are confirmed on the block chain using gas fees!

I appreciate your participation!

This exchange is very similar to forkdelta but how can ideal with the ethereum blockchain without getting charged even a cent to pay as the fees for ethereum blockchain? Do you have an idea about what should i do? Based on your explanation and zero fees is only a buzzwords dude. 

Great to hear such principle but I hope you will stick to your word of not creating artificial volumes even in your future endeavours.
You need to create a unique edge from all the other exchanges out there to gain loyal traders.
And building your reputation will take time, as long as you have good intentions, people will eventually notice your exchange.

I think it would be more interesting if your platform waives the deposit fee and withdraws on the ethereum network rather than having to free up trade fees

SWATX Withdrawal Instructions: While withdrawing or transferring ETH after selling on SWATX.. Try with slightly lesser amount than the actual balance.. Suppose you choose 16 as gas fees the Exchange will set aside 0.004 ETH as the maximum possible fees for the transaction.. The eventual fees after the transaction goes through, might me much lower but since the exchange does not know the exact fees it will set aside a particular amount (Gas fees at 4 means 0.001 ETH set aside) for gas based on the gas fees chosen by you.. It is the same case with Metamask and other wallets too. In Metamask now they give you an option of choosing slow, average and fast transaction confirmation.. with different GAS fees associated with these options.. So the wallet will set aside some amount of ETH for this though finally the actual value will be surely lower than this.. There is another option.. If you are using Metamask, You can import the Wallet address on SWATX to your Metamsk Wallet by using the private Key.. If you do that then once the ETH has reached your Wallet there is no need to transfer it to another address.. You can use this wallet created by SWATX for your right from Metamask, like any of your Metamask regular wallet Addresses!