Your Opinion about JellySwap

[cryptoaddictchie]

Ive just stumbled upon this wallet due to the ICO I am following since they will integrate their blockchain into this wallet once their mainnet is live.

It is called JellySwap its a crosschain atomic swap type of wallet. Now Ive never know any decentralized non custodial wallet that integrates crosschain dApps aside from this. But I found it very interesting and its an open source. [1]^Github.

Now upon checking on it.

They are now supporting 6 different coins/tokens at the moment on their [2]^{dapp wallet}.

1. Bitcoin
2. Ethereum
3. Aeternity
4. Wrapped Bitcoin
5. DAI
6. USDC

Now you can connect your wallet or create an account. They currently supported for bitcoin are brainwallet and Ledger while for the ethereum and non bitcoin coin/tokens you can used metamask, torus and connectwallet. Ive checked the details on this [3]^article.

Now well regards to feedback not so sure how many users does this wallet had already. But I appreciate if some of you here can give your thoughts on this.

Disclaimer: Not affiliated with this wallet. Just amazed by the crosschain accesibility between bitcoin and none bitcoin blockchains. Usually I normally find third party wallet with eth to erc20 only.

[1] https://github.com/jelly-swap
[2] https://app.jelly.market/swap/
[3] https://defiprime.com/jellyswap

[joniboini]

Looks interesting. It seems like you can't use Ledger to connect on the Ethereum channel? You can only use it to connect your Bitcoin wallet. Will probably try it after there's enough liquidity. But how do we know they're swapping and not using a third-party provider like Changelly? Is there no way to easily verify it?

[dkbit98]

This is technically not a Bitcoin wallet, but more like an exchange for swapping Bitcoins for ethereum and other altcoins.
Never saw it or heard about it, and I would not use it before I see more reviews from people.
Question is also how much fees they charge for all this.

[GreatArkansas]

Any idea if we can use some hardware wallet here like Trezor hardware wallet? Like if we want to make transaction to our harware wallet with this crosschain atomic swap?
The User Interface (UI) of JellySwap are cool, simple and user friendly.
As I saw on their website, they only have steps so you can be able succesful to swap, 1. Connect, 2. Choose, 3. Swap, 4. Withdraw.
Seems so easy and newbie friendly.

[cryptoaddictchie]

But how do we know they're swapping and not using a third-party provider like Changelly? Is there no way to easily verify it?

Not sure how to verify it. But probably if we did some transaction we can see from the explorer if the funds  have been directed to/on another exchange.

This is technically not a Bitcoin wallet, but more like an exchange for swapping Bitcoins for ethereum and other altcoins.

There are some wallets that able to add exchange feature. Since we can retrieved back up phrase for this, somehow I believe its partly called a wallet but you are right the function works like an exchangw but technical term appropriate is dApp.

Any idea if we can use some hardware wallet here like Trezor hardware wallet? Like if we want to make transaction to our harware wallet with this crosschain atomic swap?

If you connect metamask like most dApps, you can used to exchange it but interesting question since we are gonna used a hardwallet for transaction. As of now, only ledger is the only hardwallet I can see supported.

Will try soon to get more clarity on this.

[joniboini]

Not sure how to verify it. But probably if we did some transaction we can see from the explorer if the funds  have been directed to/on another exchange.

They could easily make a deal to use new address for their transactions. Or link it to a mixing address. Not saying they're planning to do it, but I think it would be cool if there's a method to verify the swap happens in a real 'atomic way' for noobs like me.

[cryptoaddictchie]

but I think it would be cool if there's a method to verify the swap happens in a real 'atomic way' for noobs like me.

Agree but to be honest I dont know how, I guess were both noob to recognize the method. But Im still hoping some expert on wallet or atomic swap exchange like this could enlighten us here.

But i wouldn't use their atomic swap for now since they mention "A BTC audit is in progress."

Hello could you expound what it means by BTC audit. Sorry noob here, to grasp it. Cant click on their Terms and Services so I would read some rules and possible conditions.

[joniboini]

Hello could you expound what it means by BTC audit.

It's probably a standard audit to make sure locked transactions can be done properly. For example, it would be a mess if they create an output where anyone can spend it by mistake. It's better to wait until they announce the swap is functioning properly.

[hugeblack]

Why you call it a wallet? It's an exchange platform, but they add BTC swap.
Does anyone know how the pricing system is determined? I thought that it would happen in one of two ways:

 - Central: the wallet controls locked funded adresses. you use your wallet to unlock the layer and get your funds (connect to your wallet.)
 - Decentralization: The user can include a specific range for buying/selling, and he will find many users who want to make an exchange with him, after that the exchange takes place using the https://app.jelly.market/swap.

[cryptoaddictchie]

Why you call it a wallet? It's an exchange platform, but they add BTC swap.

Ops sorry, I just thought that it is like more like a dApp wallet since they have non custodial keys for creating your wallet purse. But if you found it inappropriate, Im apologize for that. Cause I compared it on other wallet like trust wallet that has function to crosschain eth erc20 tokens eth and bnb chain tokens to bnb.

Decentralization: The user can include a specific range for buying/selling, and he will find many users who want to make an exchange with him, after that the exchange takes place using the https://app.jelly.market/swap.

I think jellyswap works like similarly with uniswap that will depends on the liquidity pool inside their platform but has the ability to crosschain different blockchain including BTC. But Im not sure how to determined the size of their allocation cant see it on the website.

If anyone finds this inappropriate on this section, kindly report it. Cause Im not sure where to move this to either to altcoin service section or exchange service section. Thanks!