Yes, currently I only use coinbase to make to crypto purchases. I Immediately move it from coinbase to X address.
I’m sure I fully understand the request. However, could you give me an idea on any specifics? I figure I will take screen shots walking through a normal coinbase to incognito address with captions explaining details.
I would be more than happy to assist with this! Should have one done on Monday.
Hi Tryche…I wish to first thank you for your message and response to the inquiry I had posted about moving BTC here onto the exchange and well putting into the the pool…I took use Coinbase to purchase my BTC and other coins in addition to other exchanges I have tested and looked into purchasing BTC with them…such as uphold, coinseed, shapeshift, voyage, binanceUS, crypto.com and others. I had my BTC sitting with Blockfi these last couple of months collecting interest and at the end of this month I would move said BTC here to Incognito and let it be part of the pool besides the fact that I believe I would earn a better ROI here. Once again thank you for your advice as I have thanked all the other community members to advise on this matter. I had been away dealing with covid issue for the last 2 months and well was aware of the changes and significant improvements to all that is Incognito to much of my delight and I thought it best to ask before moving the BTC to make sure I was up to speed on the process…Thank you once again Tryche…
I’m confused. If the PRV in the Provide section is not for creating new Nodes, from where did you got the PRV to make 182 new nodes recently?
To clarify, all other currencies go to pdex liquidity. As for PRV, provide is self sustainable by running nodes in addition to providing liquidity.
UPD: The main text is updated.
Thanks for the fast answer, it was really clear.
I have another question: how exactly does the other currencies go to pDEX liquidity if my original provision will never change?
What if a lot of people buy, for example, DAI, and my provided DAI needs to be given to them? I’ve read the forum searching for this answer, but I haven’t found it. This has been counterintuitive for what I know on how liquidity works, and I just can’t figure out how this works. Thanks!
Hey @J053 got your point. I’ll try to prepare some diagrams explaining the flow soon. Will share in this thread.
Is there a minimum or maximum amount of liquidity one can provide through the PROVIDE feature on the app?
Minimum 1 prv (or rough equivalent in other currencies), no max.
Hi @ning! Are there still plans to speed up the app? Im noticing load speeds getting even longer now too.
hey @Mike_Despo - yes!
we are currently working on speeding up the node screen, and you should see an improvement in the near future. for other types of load speeds when it comes to sending/providing etc, this might be the issue: when an account has been actively used, it accumulates UTXOs. this slows it down.
this will be solved eventually with an improvement on the chain layer, but the quickest way for you to speed up your app right now, is to simply create a new keychain and use that as your new base for transactions.
that’s not ideal, but it is a quick fix for now. sorry for the inconvenience - we’re working on it.
Hey guys, new Provide rates are already in your Incognito app: New Provide rates (September 16, 2020)
Thanks for the uptdates on the new rates. How is it going with the diagrams? 
Oh, I thought I did publish it) Forget to link to this post.
Provide - when you contribute single currencies through a more complex flow.
More details you can find here --> Liquidity v.2
In what ways?
Our Incognito pDex uses a powerful AMM (Automated Market-Making) algorithm. When you provide liquidity to AMMs you are providing liquidity to both sides of a trading pair, and you earn interest based on the ammount of provided liquidity and from the trading fee, but it comes with a flaw, by adding liquidity in this way, you might incur impermant loss because the initial ammounts you provided would vary.
With Provide (Liquidity v2)
You only provide liquidity via 1 token, and the initial token ammounts wont vary while you are providing liquidity with Provide so you wont have impermanent loss.
The post i linked has a more in detail explanation, hope that helps.
I use coinbase and have only ever sent money to incognito from it. Is there ever a risk that centralized powers could block an address incognito uses for pools?
If a whale comes in and buys up all of one asset, say all the BTC in our provide pool what happens to providers? Is there a risk of loss? I am trying to explain the risks to my friends who I have introduced to incognito.
Also, I figured out coinbase dosnt charge for usdc, so often its actually cheaper to buy usdc>incognito >btc/eth. Then btc>incognito!
Lastly question. Are any other chains going to be added to provide in the near future? Perhaps LINK? Hardly anyone has good interest on chainlink, could be a draw for people.
Hey @JoyRaptor please check the curve below. It shows dependency of a coin price on the pDEX.
In human words it means if you buy 10% of all BTC on the pDEX the price for every new trade will grow up and up. You can experience this curve if you open pDEX and chose to trade 10BTC or 100 BTC at once. You will find that it’s economically no reasonable.
Regarding adding LINK to Provide. If we can get interest and support form LINK community to spread news about it, I do not see any problem from technical perspective to make it happen )
Thats something I suggest you to make a post about, might be very useful for other people who is seeking on how to withdraw from Coinbase
Thank you for replying @andrey , I did not see the post on KuCoin, and that makes more sense to me now…
I think my concern was less about coins being frozen in wallet, and more about the Incognito smart contract address being blacklisted or any coins that came through that contract would be considered “tainted”…
I do see the importance of using DAI in this use case, and is probably something I should start considering moving more into, but I would assume this removes the risk of freezing, but not of blacklisting coins that pass through Incognito smart contract… but I am also not sure if that is a worry I need to have, do you have any thoughts on that?
Currently, we have only one bridge to ethereum, but it doesn’t mean that incognito <> ethereum communication is limited only to one bridge. Nothing can stop Renproject, wBTC or any other teams to maintain own bridges to the Incognito network. It might be “compliant (KYC)” or “anonymous (no KYC)”.
Soon we will see a market place of bridges & layer2 solutions for Bitcoin and Ethereum networks (an idea for builders), and ab user will be able to chose to use compliant or anonymous bridges.
I can’t clearly answer to you if you should worry or not, but I can recommend you to follow Unchained podcast, the host brings quite a lot of guests from different authorities. I do listen every episode. It will help you to see bigger picture in terms of what is going on there and what is a chance to be “tainted” if you are not involved in any illegal activity.