Fryx Finance - An open-source Monero/Bitcoin exchange.

[jackmurray]

https://fryx.finance/ is a simple open-source Monero/Bitcoin exchange in active development.

We are currently looking for market makers who can hook up to our API.

If you have time to integrate with us, we would greatly appreciate it!

There is a discussion thread on the Exchanges Board.

More to come soon.

Edit: added 0.2% fee for trades.

Kind regards,
Jack Murray

[1715143848]

1715143848

[1715143848]

1715143848

[1715143848]

1715143848

[dkbit98]

On your website you say that in the event that you can't fulfil entire order, you will refund for amount that was not exchanged and send coins back.
How exactly can customers know how much Bitcoin and Monero you have on your balance in advance?
I don't want to pay extra fees and risk of sending coins if there is not enough liquidity in Fryx Finance.

[Pmalek]

dkbit98 is right. Once the site is up and running, transparent information about the liquidity and the individual coin balances should be shown at all times. That way users won't even have to try to swap more than the site can handle. The website was registered 3 days ago and the exchange service doesn't work yet. I tried entering some random addresses from the internet and blockchain explorers and I am getting internal server errors when clicking on buy or sell.

[jackmurray]

Thanks everybody for checking out the site.

On your website you say that in the event that you can't fulfil entire order, you will refund for amount that was not exchanged and send coins back.
How exactly can customers know how much Bitcoin and Monero you have on your balance in advance?
I don't want to pay extra fees and risk of sending coins if there is not enough liquidity in Fryx Finance.

I've added functionality to determine the approximate exchange rate before the trade is made.

Right now the exchange has 0.095 BTC in liquidity from my own funds.

dkbit98 is right. Once the site is up and running, transparent information about the liquidity and the individual coin balances should be shown at all times. That way users won't even have to try to swap more than the site can handle. The website was registered 3 days ago and the exchange service doesn't work yet. I tried entering some random addresses from the internet and blockchain explorers and I am getting internal server errors when clicking on buy or sell.

Sorry about that, was still in active development. I did a lot of work on the site today and it should be ready, check it out!

[Pmalek]

Seems better now when I can see the maximum amount I can exchange. The current liquidity is 4.7 XMR. I assume this number gets updated in real time as people remove and add liquidity to XMR and BTC, right?

One thing I noticed is that the exchange requires 6 on-chain confirmations for Bitcoin. This might be too much. I know that many exchanges have similar standards, but there really is no reason that people who conduct small trades of $50 or $100 have to wait that long for the 6th confirmation. If you are unlucky, this might take 2 hours or so. Maybe you can take this number down to 2 or 3.   

Try to add a dark mode. It's more pleasant to look at.

[jackmurray]

Seems better now when I can see the maximum amount I can exchange. The current liquidity is 4.7 XMR. I assume this number gets updated in real time as people remove and add liquidity to XMR and BTC, right?

One thing I noticed is that the exchange requires 6 on-chain confirmations for Bitcoin. This might be too much. I know that many exchanges have similar standards, but there really is no reason that people who conduct small trades of $50 or $100 have to wait that long for the 6th confirmation. If you are unlucky, this might take 2 hours or so. Maybe you can take this number down to 2 or 3.   

Try to add a dark mode. It's more pleasant to look at.

Yes, this number is updated as people remove and add liquidity.

I've changed the number of confirmations down to 5 blocks.

I've added dark mode.

Thanks for your feedback.

[Pmalek]

Personally, I think it looks better in black than when everything is in white. Still, maybe you should have a dark/light switch on the site. Your newest update requires people to only use the dark mode, and I don't see a button to change to the light version for those who prefer that.

I have also noticed the Register tab now. I don't think it was there before. What advantages are there for users who sign up to Fryx Finance? What's the difference between a registered and non-registered trade?

[jackmurray]

Personally, I think it looks better in black than when everything is in white. Still, maybe you should have a dark/light switch on the site. Your newest update requires people to only use the dark mode, and I don't see a button to change to the light version for those who prefer that.

I have also noticed the Register tab now. I don't think it was there before. What advantages are there for users who sign up to Fryx Finance? What's the difference between a registered and non-registered trade?

Noted, I'll add the option to select dark or light theme sometime in the future.

If you register an account, you can set limit orders on the order book, and withdraw after making several trades.

Without registering an account it does just one market order and then withdrawal.

The account is for more advanced traders, whereas not using account is for those who just want a single quick and convenient trade.