Bitcoin Forum

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/

I thought I was seeing a lot of shits flying around in your website. It took me a few seconds to realize that they're supposed to be jellies  :D


I only see Eth and Trx as options, there's no Bitcoin as you mentioned.
Can you also explain to us how your service is different than what Changelly is already offering?

I would like to ask also if we can connect wallet at the same time? Metamask for Eth and Tronlink for Trx for example.

What is this? can i send bitcoin to dapps address for another coin or what are you saying? i can insta swap using changelly or shapeshift, i don't understand what you are aiming at

Interesting information! but i think atomic swap has already use at these moment, But the cross-chain i find it weird on how they do it. Is it really possible to do inter blockchain transaction using atomic swap? lets give the platform a benefit of a doubt. so far its only Ethereum and Tron is it required to used metamask?

I don’t understand, if you say that you are doing something grandiose, then why no one knows about it? I read the comments, everyone writes that this already exists, or your service is not perfect. Maybe it’s worth finalizing in order to get around competitors?

You have to make an ANN (Announcement) Thread to explain what are the strengths of the project you are developing and what benefits we can get. You have to explain everything in the new ANN Thread. But if the thread is available, provide the link here so we can see it.

Hah, So do you like the shits/jellies or we should remove them :)
Yes we have implementation for BTC as well, by the end of the week this option will be available.

Everything will be tested on the testnet and we will have a bounty about it.

How is it different than Changelly?
Changelly is like shapeshift:
1 You deposit fund in their address/ bank account
2 They have liquidity providers or they execute trade and then send you the amount that you want
Problems - they are third party, the procedure is not trsutless, their services can be hacked, something along the chain could be broken (database, liqudity providers, exchange).
You risk to never receive your funds back.

How jelly swap works?
1 You lock funds in non custodial hash time locked smart contract ( only you know the pre-image for the hash)
2 Liquidity provider (could be anyone) locks similar amaount of value on the other blockchain useing the same hash.
3 You withdraw the funds from the other blockchain and reveal the secret pre-image
4 Liquidity provider withdraw your funds and the swap is finalized

At the worst case if the liquidity provider is malicious, your funds will be locked for a few hours and then you can refund them. No risk for loosing funds.
Second as the service is moredecentralized the fees should be lower than centralized exchanges.
Third everything is trustless and secure and No KYC is required. 
No deposit/withdraw fees, swaps are fast from wallet to wallet.

Yes you have to connect you wallet and broadcast transactions, otherwise it won't be trustless and decentralized.
We will support in the initial version metamask, tronlink and BTC brain wallet, so remember your passwords ;)

if you want to preregister for the bounty check this tweet:
https://twitter.com/jelly_swap/status/1193855369208041474

If you need more details about the tech, you can check the whitepaper here:
https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf

That's a great remark!
We will make a thread and share it here.
It will be released tomorrow.

It is in startup phase.
We have not released it yet, therefore it is normal that no one knows about us.
If I have to be honest, I believe that we are using a pretty innovative technology - HTLC contracts and BTC script on the different blockchains, combined with intuitive interface and opportunity for trustless market making.

I think that you should try the service and you will be amazed how different it is compared to the other solutions and everything is on-chain like a pure magic :)

Yes you need to have metamask, tronlink and we provide btc brain wallet on the browser side.
It is required, because if you broadcast your transaction is more secure and decentralized.
Basically you need wallets only for the chains that you want to use.
E.g you want to exchange ETH -> BTC, then you need only ETH and BTC wallet - metamask and bitcoin brain wallet.

Nice job! its a shame this wasent like 2 years ago, would have been very popular, but your a bit late. still should be popular tho ;)
of course we can always use more services in this scene so its still cool you are running one, but we have really trustworthy ones like Shapeshift now..
I like the idea of TRUE atomic swaps, shapeshift i dont think is, they act as middle man, but im not sure if having a middle man in this situation is all that bad..
Either way, nice to see another Atomic Swap service! Good Luck as you move forward :)

Why is another atomic swap so exciting? There are tons of websites that are offering swaps between blockchains within a short period of time and I do not see any reason why this particular project should be something specific.

First of all, we have a couple of such solutions already operating in the crypto industry. Take for instance infinito wallet, Atomic swap mobile wallet, blockchain wallet etc. only to mention but a few. I have been using all these application and the only little hitch i can say is they delayed time within which transactions are completed especially on blockchain application. if you really keep to making transactions within few seconds i believe many crypto enthusiasts would find your solution very useful.

Congrats on the development. But I would like to get something straight,  this is not creating the ability to do inter Blockchain address transfers, it's just basically swapping your tokens for another and that's something that has already been around a while now, though the usage is kind of low.

This is still the same thing we've already seen before, you will have to send btc to receive another coin, its just like swap circles of platforms like changelly

on which network your launch later? because on eth there is Ropsten/Kovan/Rinkbey test Network
i ask this because I'm interested to try your dapp after you launch it on testnet

Yep same services as atomic swapping were already easy just as shapeshift services where introduced years ago.  The people behind the project jelly.market are also the ones behind wiedex project, so it gives a good impression for your exchange.

This team is doing promotions and adding tokens listed to their exchange but didn't actually paid the bounty hunters which seen people saying scam to these people, just beware.

Interesting to see new things are coming up everyday in this area. But what is the real difference when compared to exchanges? There also we exchange with different coins right?

How is this any different as to use the Blocknet DEX, to exchange your funds peer 2 peer? A dApp that's been around for ages.

Nice seeing so much innovation in the DEX field, but you're promoting it as something "new" which I don't see at all.
Hopefully peer 2 peer trading will be used by more and more people in the future, since it's way more secure than sending your funds to a centralized hackable site, haha  ;)

We hope that it will be useful.
Shapeshift is trustworthy, but requires KYC.
And with jelly swap, you can provide liquidity and earn some profit from the spreads in shapeshift you do not have such option.
Last, but not least jelly swap is much more decentralized and secure ;)

We will see what will happen, the future is bright!

I haven't heard about it till now.
I am not sure how does it work, but it looks like it is using some second layer solution - blocknet  seems like separate blockchain.

Jelly swap is meant to be more simple and to have instant liquidity like multi chain uniswap.
https://app.jelly.market/swap/ETH-TRX

I agree that we need more p2p trading and this is the future.

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!

I was about to mention changelly and even shape-shifting. Because thats kind of the services being offered by enjin or imToken2.0. So i dont think the OPs idea is unique perhaps its offered in a different way. I have seen some other swap projects like swapzilla springing up to offer same services too

We can exchange coins between different blockchains since day one of cryptocurrencies pal, dex, cex, swaps etc are all already available, even old wallets are now implementing changelly and shapeshift in their wallets now, you can change coins in wallets without moving them out

Well he just elaborate this matter right up there and he is saying that this service didnt involve third parties which basically means that it’s a trustless service. As I can grasp from the explanation it is basically a p2p exchange with extra steps(???) because transaction will be executed when the required amount meet its criteria for each side while shapeshift is basically an exchange but a lot more simpler just for temporary exchange or urgent matters. Sounds interesting actually if it works just like what I grasped. What baffles me is the availability of the liquidity provider? Is the liquidity provided by the exchange or rely on an individual?

We are aiming to build decentralized shapeshift/changelly.
And yes it will be possible to lend BTC directly in compound in 1 click.
1 Your BTC will be converted to DAI
2 Your DAI will be lended in compound
3 You start earning interest

4 When you decide, you can withdraw your funds.

In the beginning we will be the liquidity provider.
Then we will involve group of trusted LPs.
Then anyone with personal computer can be a LP.

How does this work?

1 There is a nodejs script, it is connected with js rpc library to all of the supported blockchains.
2 The LP run this script on his own machine - configure for a given pair, add his wallet and start the script.
3 When someone locks funds and the receiver is the LP => liquidity provider locks funds as well
4 The swap is finalized

The whole process is trustless and depends on blockchain events - cannot be corrupted.

The taker/ user, do not care about these liquidity providers.
He has a pool of them and has instant liquidity.
When he/she wants to swap - the best rate is selected and he/she just clicks swap.

You can read more here:
https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf

As people asked about an official announcement, you can see it here: https://bitcointalk.org/index.php?topic=5200835.0  (https://bitcointalk.org/index.php?topic=5200835.0)

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 (http://bit.ly/2Q4bi7Y)

Two days left!

Join our #bounty on Nov 20th and win $15! 🚀🚀
👍 Follow us on Twitter https: //twitter.com/jelly_swap  (https://bitcointalk.org//twitter.com/jelly_swap)
💬 Join our Discord https: //discord.gg/3fCbp9U (https://bitcointalk.org//discord.gg/3fCbp9U)
🔃 Swap:
✅ go to the dApp https: //app.jelly.market/ (https://bitcointalk.org//app.jelly.market/)
✅ connect your wallets to start
✅ a pop-up will appear to tweet your ETH address automatically
✅ you will receive testnet ETH
✅ finish the Swap and win 5$
📢 Leave feedback http: //bit.ly/37fMDDL (https://bitcointalk.org//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 (http://bit.ly/2XlI46k)

Atomic swaps are a necessity within the cryptocurrency space.  I took a look at the ETH-TRON swap page and I must say I like the way it looks: neat and easy to use.  Since it's just blockchains interacting,  will Jelly charge for facilitating transactions or how does it intend to be profitable?

They do not charge the fee but they are gaining profit from the spread. you can read their whitepaper to know more about the ecosystem.
I think the team needs to update their website by adding a live update of the price.
for example like this
ETH/TRX 10037.249572(it is automatically changing whenever the spread changes).

just a few questions, is here SWAP automatically or manually? because I am worried about changes in the price rate some time waiting for payment to be sent and received, if it is done automatically I will try another time, I have never tried the SWAP site in the crypto world, does it look safe

This is more like Shapeshift, than Atomic swap, though I would love to see your Github depositories, if it is like Shapeshift then nothing new IMO, it is just like using different exchange liquidity in the background for the swap. A lot of work is on going with Atomic swap but none as really gain great user traction

So you are releasing another token for this Jelly.market, what about the weidex token you did release back then where you guys didn't distribute to the bounty participants yet?  You were operating with weidex for a long time already. I thought you took advantage of the participants and you might just took advantage again for this jelly.market when its not a very unique project at all.

As one of the liquidity providers Jelly can put some small spreads.
However everyone can be liquidity provider so this is not a reliable business model.
The main income stream will be from swap fees. It will be on protocol layer (smart contracts) - the fee will be 0.03% or less and will be divided between the Jelly foundation and liquidity providers.

We never released a weidex token neither we will have a jelly token. It is absolutely pointless to create more useless tokens - we had enough in the crypto space already. The swap will work just perfectly without a jelly token. We are putting all our effort into the Jelly project now. We start the bounty on Nov 20th and this time we will pay in DAI right after a participant makes a swap as it is described in the rules. You can try it yourself.

I think it's a great idea for good earnings in future & calling for much more people for investment.

Rightly put. As observed in imtoken, eidoo, Enjin and a host of others. I hope the Ops shill don't just have the swap utility as its only usecase. If it is, then it should be fast, very secured and very cheap to survive the competition offered by other strong options

You mean to say those who promoted your weidex exchange wasted their time promoting it and you just give nothing to them while its now operating?
Don't you think that is a bit of a scam?  Believe it or not its going to hunt you project for the rest of its time including this jelly.market, you may not even see someone joining the campaign for this one. This jelly.market is nothing but a redundant project of someone else.

Will this also work for coins like IOTA with a non-traditional blockchain? I see benefits for doing this for other types of blockchain.

Here are the HTLC contracts for ETH and TRX:

https://github.com/weichain/weidex-eth-htlc/tree/htlc-v2
https://github.com/weichain/weidex-tron-htlc/tree/htlc-v2

We have Bitcoin Script for BTC as well P2WSH

Soon we will release the contracts for Aeternity and Eos.

The rest is UI and nodejs script that everyone can run locally to connect to the jelly protocol, provide liquidity and earn some profit from spreads.

If IOTA has some smart contract layer or smth like Vitcoin Script, then we can integrate it in jelly swap.

Yes it is safe and much more faster/simple that the regular trading.
If we are honest actors and both of us agree on some deal, then it should be executed even if the price move a little bit in the next few minutes.
The whole process is automized, decentralized and trustless.

That's a good Idea.
Now if you click on the atomic widget and type some price, you can see the rate, but adding ticker in one more place will be useful.

Ropsten on ETH, Shasta on TRX and BTC testnet.
We are aiming to go on mainnet in mid December.

We will highly appreciate your feedback ;)

right now i just try to exchange eth to trx but i already deposit my eth but there is no withdraw button there
is it happen because there is no people that exchange trx to eth?

You can watch this tutorial to see how to make a Swap with Jelly https://www.youtube.com/watch?v=9NXVJPJFtG8 (https://www.youtube.com/watch?v=9NXVJPJFtG8)

i already have done an exchange with the same steps from your video above and it's working perfectly now
but i have a problem right now  because i just want to try with a huge amount but until now there is no withdraw button there instead just refund button
but when i try to click the refund button i got this error
https://i.imgur.com/pU2KRFe.png
i don't know why i got that error but when i try to refund my transaction yesterday it's working perfectly

Do you have some trx in your wallet. At the moment you need to have some trx to be able to withdraw. We are working to fix it right now.
If you don't have trx, give us your address. We will send you some so that you can withdraw. 

that transaction that i made is for eth transaction, i try to exchange 5ETH intoTrx but it's already almost a day and my order still not filled
so i want to try to refund my eth transaction but it got an error like that

Hello there. Thanks for trying out Jelly :) Unfortunately, as mentioned earlier we are going to fully release tomorrow and till then a lot of bugs (not working stuff) can and will happen. Can you please try again tomorrow after the official release :) Thanks much.

oke i will try it tomorrow then but can you make a button to refresh the balance?
because before i need to connect and log out my wallet to make my balance updated in your website

good idea. Thanks!

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

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

good video but is the steps are the same if i want to exchange trx to eth?
btw i saw a compound section there can you explain how it works?

Compound section is a feature that we are working on.
Idea is that you will be able to convert BTC for DAI, ETH or WBTC and lend them in compound - to start earning interest.
This will happen in one click.

Balance is refreshed automatically already, you do not need a button ;)

Everything should be working now - you can check it.
The testnet version is stable ;)

I just checked it out and it's quite incredible and I hope it will actually wax stronger and perform its purpose on crypto market. I wish you guys the very best. It's a good innovation.

Thanks - feedback appreciated!

And we are live! Jelly is officially launched on the testnet https://app.jelly.market/swap/ETH-TRX (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/ (https://faucet.ropsten.be/) to get some)

i just check it and everything works great but why my old pending transaction has gone too?
before the MT i already has a pending transaction worth 5 ETH but now its gone

Maybe something happened during the updates right before the launch. Can you approach our chief developer in Telegram @kraykov_weidex. He would be happy to assist and give you guidance on how to withdraw them.

Unique concept, but makes me a little more doubtful. I am confused by how it can work completely, this problem starts with a cross chain or different. Your website is quite interesting to look at, like Coinbase. But try to explain in detail, Every network, chain and node how it all works. Because many people are laymen and are afraid to get caught, maybe that's the reason why they aren't interested. Such a concept, I like it, because the current exchange is annoying, having to verify KYC and waiting for a deposit / withdrawal requires Exchange confirmation time, before it is recorded by the blockchain.

oke i will chat him later so i can withdraw my remaining balance before the update

We will definitely prepare such a paper. For now, you can look at the white paper https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf (https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf) , the explanation of the Atomic Swap https://medium.com/jelly-market/the-technology-behind-jelly-ecc401348bcb?source=friends_link&sk=1369e2468c6261829f796895b1a93224 (https://medium.com/jelly-market/the-technology-behind-jelly-ecc401348bcb?source=friends_link&sk=1369e2468c6261829f796895b1a93224) or GitHub (which soon will be updated as well) https://github.com/weichain (https://github.com/weichain) 

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

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/ (https://jelly.market/)

can you explain it more about how we can join the bounty?
and one more when will your exchange is live which mean using main network?

Hi, it is very simple - you just go to https://app.jelly.market/ (https://app.jelly.market/) and execute a swap. It takes a few minutes even less. At the moment you can choose to swap ETH, BTC, TRX.
DAI is coming soon. We are also working on EOS and AE.
If you need help with the swap, you can watch this video -  https://www.youtube.com/watch?time_continue=1&v=8gFrEhnrjLA&feature=emb_logo (https://www.youtube.com/watch?time_continue=1&v=8gFrEhnrjLA&feature=emb_logo)

The idea is for you to test the dApp. One of all swaps will be randomly selected for the reward.
Please, if you find any bugs or something confuses you, write here or in Discord so that we can fix it. https://discord.gg/3fCbp9U (https://discord.gg/3fCbp9U)

Jelly will be live on the mainnet mid January

You guys are cool! The community needed this service for a long time! I think that with the use of your application, people will be able to significantly reduce the commissions when exchanging coins of different blockchains. I look forward to launching your mainnet!

Thanks Edvinz, that's what we are aiming for. Try a few swaps, if you find something that can be improved, let us know.

As I have seen. It was good, But I was have some confusions why the CEO of the company doesn't have profile picture to see his face. It is look like changelly, And I wish this is 100% legitimate.

Hi Sabrina, thanks for trying Jelly!

Our CEO is 100% a public figure and you can find him everywhere, you can also get in touch with him if you wish -

https://twitter.com/TitoMarchev (https://twitter.com/TitoMarchev)  
https://www.facebook.com/tito.titov.7 (https://www.facebook.com/tito.titov.7)
Telegram - Tito_weiDex | weidex.market ; @WeiDexTeam
https://www.linkedin.com/in/tito-titov-2578a6a9/ (https://www.linkedin.com/in/tito-titov-2578a6a9/)

On the section Team Members in both of our sites, you can find details for the team.
https://jelly.market/ (https://jelly.market/)
https://weidex.market/ (https://weidex.market/)