Repository
https://github.com/nirvanaitsolutions/swapsteem
Introduction
Swapsteem is a peer to peer exchange for Steem blockchain. We are creating a platform for Steem users to enable P2P trading of STEEM/SBD to different Fiat and Crypto Currencies using secure escrow transactions. This post is regarding the new p2p token markets we have added at Swapsteem to enable trading BTS User Issued Assets for STEEM/SBD securely with other steemians
What is BitShares and UIA
EDIT
Bitshares is a graphene based blockchain that works on the DPOS algorithm for mining blocks. The Witness system in bitshares makes it faster than other POW based blockchains along with ability to create custom tokens called User Issued Assets on the blockchain.
User Issued Assets are the tokens that are issued on the Bitshares network. Anyone can issue their own assets called bitAssets backed by a real or virtual asset.
Some of the popular bitAssets are bitUSD, bitCNY, OPEN.BTC etc.
Problem Domain
BTS UIA token is a multi-million market with some big exchanges like open ledger working on the bishares blockchain. Having a pair with STEEM and SBD will provide further liquidity and adoption to Steem blockchain.
Markets
As of now there no direct trading pairs in any market for BTS UIAs and STEEM based coins. At Swapsteem, we have currently enabled BNB Tokens on the Demo, but we are planning to list more BTS UIAs on the Beta as well soon.
Prices:
There is no way to determine the price of any BTS UIAs in terms of Steem directly as of now. At Swapsteem demo, we enable p2p trading for TRON based tokens with prices derived relative to BTC at the time of order creation. The price can NOT be changed after order creation. The prices will be made real-time once we have enough exchanges supporting those tokens listed on @coingecko since we only rely on the @coingecko open source API.
Fees:
At Swapsteem, We take a fee of 2% of the trade amount for FIAT and TOKEN markets and 1% of the trade amount for CRYPTO markets, which are the current standard fees. We also give discounts to delegators as mentioned in our fundition campaign.
Security:
When you deposit your funds to an exchange, you actually don't own your funds anymore. The exchange might be hacked or taken down at any time and you may lose your funds as seen in many previous cases. At Swapsteem, We respect the proof of keys movement. You never have to deposit your funds to @swapsteem. Upon creation of an Order, the STEEM/SBD funds will need to be moved into a Steem escrow transaction with @swapsteem as an agent by the Seller. Only the Seller can release the funds in the Escrow until a dispute is created. In case of dispute, @swapsteem will have authority to move funds to either the Seller or the Buyer depending upon the proofs produced by them in the Dispute resolution process. The funds in Escrow can never be sent to anyone other than the traders involved, not even to the agent account. So you can be sure about the security of your funds in escrow.
Whats Next
- Add Instant Swap Feature
- Add Refer and Earn Feature
- Add Steem Keychain for Additional Security
- Update the UI for a better experience
- Add More Token markets and pairs
Call to Bug Hunters
Anyone having a steem account can test the Fiat and Crypto pairs on our Demo by creating a new listing or simply buying/selling from existing listings. Please find the link to Demo and tutorials on the process in the links below. Bugs acknowledged by us will be rewarded by utopian and other supporters. We will also give some special perks to our bug hunters for reporting potential vulnerabilities.
Call for Delegation
Swapsteem is an open source project, recognized and supported by @utopian-io. Please consider delegating to @swapsteem to help us with the Development and maintenance of the application. The delegation will be used to upvote the Development and other contributions towards @swapsteem.
The delegators will be eligible to get early access to our beta once launched this week.
You can trade unlimited amounts on the alpha with discounts on trades up to the SP delegated weekly.
Delegators
@diggndeeper.com - 1000 SP
Resources
Screenshots
- Buy BTS
- Sell BTS
Series Backlinks
- SwapSteem - TRC20 Tokens market is now live!
- Swapsteem - EOS Tokens Market is now live!
- Swapsteem - Steem-Engine Tokens market is now live!
- Swapsteem - Crypto Markets are now live!
- Swapsteem - The Fundition Campaign is now live!
- Swapsteem - Steem account creation is now live!
- How to Post a Trade Listing On Swapsteem
- A 12 Step Guide on How to Buy STEEM/SBD for Fiat on Swapsteem
- A 12 Step Guide on How to Sell STEEM/SBD for Fiat on Swapsteem