abduraman - InQuery - In Cognito We Query

[abduraman]

Hello everyone,

I release the first product of Tipcoin ecosystem: InQuery

Note that there is no utility for Tipcoin yet. Although eventually, if I do not die , there will be some utilities within the whole ecosystem, I do not suggest buying Tipcoin. You are warned

InQuery will be a home for queries being useful to the community. The first query is mainly for arbitrageurs. Here is the screenshot.

This feature shows the price differences (in percentage) between the spot markets and pDex markets. Currently, it has a single oracle (Binance exchange). So, if a pair exists in both Binance spot markets and pDex markets, that pair is listed. To me, the usage of the page is easy. Here is the explanation:

• Price Difference column shows the difference in percentage. (+) difference means that pDex price is higher than the spot market. (-) is vice versa.

• In each row, pDex Price and Last Price are either green+red or red+green. Both of them cannot be green or red. Green means that the related price is higher than the other. Red is vice versa.

• Although Binance has not so much liquidity problem, I’ve added Best Bid Price and Best Ask Price columns to show how much realistic Last Price is.

Verbose Link: https://inquery.tipcoin.app/

That’s all. Please leave me feedback on everything you think makes InQuery better.

Roadmap:

• Some raw ideas. Need to research.

Changelog

Version	Features	Date
1.0.0	Initial release showing arbitrage opportunities.	2020-12-20T21:00:00Z
1.0.1	Coinbase and partially Kraken support added. USDC and DAI markets added.	2021-01-09T21:00:00Z
1.0.2	Kraken full-support added. No browser extension required anymore.	2021-01-12T21:00:00Z
1.0.3	Exit fees added to the market headers.	2021-01-16T21:00:00Z
1.0.4	Compatible prices with Network Explorer.	2021-01-22T21:00:00Z

Tips are welcome!

12S13THc5E1fWXtzWFZRhMRdM9czRxX7VhpCsNAcScWDvVAQ24YYYSKruDjpr226a21Yc77dieGuneMTRs9NQ9qM1Csn5p3kDuKN6sc

[Auditpress]

Are you going to add custom coins like TIP? or do you need TIP to be listed on an outside exchange first to shoe arbitrage?

im a long time HODLER of tip and liquidity provider… although not much
sent 1000 tip coin as a tip! www.audit.press

[abduraman]

@Auditpress

Are you going to add custom coins like TIP? or do you need TIP to be listed on an outside exchange first to shoe arbitrage?

Sorry @Auditpress for the late response. In fact, I misunderstood the question and I couldn’t relate it with inQuery. That’s why I had just liked your post.

Now, understood This feature is to compare prices between a non-pDEX market (currently supports only Binance) and pDEX market. At this point, a coin/token only is listed if it is listed both at Binance and pDEX, it is verified by Incognito team and it has a pair with one of USDT, BTC or ETH cryptos.

[centurionduck]

I’ve been comparing some of the prices here with mocking trades between binance and pDex and am seeing less of an arbitrage opportunity than appears on the app. Will this be due to liquidity, and if so do you plan to add a column to show this?

An example:
At the time of checking the app says:

NEO/USDT Price Difference11.50% pDex Price22.70351196
Last Price - 20.361
Best Bid Price - 20.314
Best Ask Price - 20.344

If I buy USDT 100 of NEO on Binance I get:
4.883 (price now 20.478)
Then if I trade on pDex I would get: 106.51 USDT giving a price of USDT 21.81 per coin.

Rechecking the app it says the price on pDex is USDT 23.10 per NEO so I can’t figure out why I’m seeing a different price.

Thanks in advance!

[abduraman]

@centurionduck

Will this be due to liquidity, and if so do you plan to add a column to show this?

Yes, it is “mostly” about liquidity. I thought to add the liquidity but then I gave up that idea since the screen would be crowded and it wouldn’t help the users so much to grasp how the slippage would be. I have another idea (to me, more helpful) but I couldn’t find time to make it mature. For example, I’ll show possible buy amount of Y coin if the user sold 100 X coin or 10 X coin or 1 X coin.

I say “mostly” since there may be one more reason. pDEX prices in inquery are cached values. They are updated every 1 minute by the team’s script. However, pDEX executes the trades every ~40 seconds. So, the prices in inquery may be outdated up to ~40 seconds (the worst case).

I have made the first version of inquery for slow and more relaxed arbitrageurs So, an expectation for exact trade figures wouldn’t be realistic as of now.

[centurionduck]

Thanks for the quick response!

[Auditpress]

As a test, i spent 10 prv and got like 100,000 Tipcoin then sold the Tipcoin immediately and got only like 5.6 prv back… where did 4.4 prv go?

[abduraman]

I don’t know. Please see https://incscan.io/custom-tokens/trades and do not forget that there are some TIP holders other than me. I had done an airdrop one year ago. As per my transparency report in Tipcoin blog, I do not sell or buy as of now.

[Auditpress]

what im saying is, thats the only two transactions so why wouldnt i get equal amount back? that 4.4 prv is disappeared? did it stay in the pair pool?

[abduraman]

I don’t think it stayed in the pool. There is no such mechanism in pDEX (except trading fees).

Are you sure that someone didn’t execute a TIP trade between your 2 trades? If sure, I think you should write to the support.

[centurionduck]

I saw a similar thing yesterday.

If you trade 1 LTC for USDT you get
96.959908 USDT.
If you then trade 96.959908 USDT for LTC you get 0.37608 LTC.

Two thirds of the coin would have disappeared. Needless to say, I didn’t make the trade!

*images removed

[abduraman]

Hey @centurionduck,

Could you please make the images smaller?

This is so normal and isn’t the same thing since you didn’t trade. If you sell 1 LTC for 97 USDT and you cannot re-buy 1 LTC with 97 USDT, this is the problem. Since you haven’t sold 1 LTC yet, the price will be different. The spread (the difference between ask and bid prices) is so high since the liquidity for LTC/PRV pair is very low.

[Auditpress]

doesnt make any sense… the same value has been transferred yet 60% “disapprears” ???

[Auditpress]

test reply via email @aburaman is that how you tag someone

[abduraman]

Sorry @Auditpress, I didn’t understand anything what you mean your last 2 messages above. Do you ask me something?

[tangiblebitcoin]

Im trying to earn badges but theres no explanation how…like tagging someone or replying via email
@abduraman

[abduraman]

v1.0.1 released

New Features:

• Price comparison between pDEX and Coinbase Pro has been added. @Matt6412

• Price comparison between pDEX and Kraken has been added. However, only the people whose browsers are CORS-disabled (via an extension or disabling the setting) can see Kraken prices

• USDC and DAI markets have been added.

[abduraman]

v1.0.2 released

Update:

• Full-support for Kraken exchange has been added. No user-side task is required anymore.

[abduraman]

v1.0.3 released

New Feature:

• (Approximate) Exit fees can be seen without entering Send screen of Incognito wallet app.

They are on the headers as below.

[J053]

Best feature ever!