Provide

[Mike_Wagner]

@andrey

if you are not involved in any illegal activity

I cut off mattress tags.

[andrey]

[Globallager]

I am struggling to understand how is IL avoided via Provide though.

Aren’t all AMMs prone to ILs?

If so, is Provide specifically designed with IL-mitigating mechanisms, or is the IL simply compensated by the devs?

[Jamie]

From the user’s point of view, the stake you provide to the Provide feature will not change. The amount you put in, is the amount you can withdraw. There is no risk of losing any of that.

Your reward doesn’t depend on the actual trades made, nor the poolsize.
It is like a savings account with the APY as interest.

From the system’s point of view, there might be IL.

[Globallager]

Ah so the funds provided via Provide are “lent” to the devs in other words, I see.

Thanks for the swift explanation.

[andrey]

Hey guys, please check the latest updates for Provide!

Upcoming changes to Provide

Hey guys, as you know, all rates in Provide are variable depending on the needs of the project. This time, it’s angled towards reducing slippage. Balancing pools When you try to trade BTC <> XMR, BTC <> DAI, or BTC <> UDST, you might experience high slippage. This occurs because the BTC pool is 3-5 times bigger than XMR, DAI or USDT. To reduce this price impact (especially for larger trades), we need more liquidity for XMR, DAI and USDT. As such, here are the upcoming Provide rates: XMR - 13…

[henry]

That’s cool. Quick question, is the Liquidity provide process still centralized? If so, when will it be decentralized?

[andrey]

Henry, do you try to level up your trust level?

[abduraman]

Confused. I thought Henry was from the team but he asks questions to the team, too. Who are you, @henry?

[henry]

Haha, I’m on the builder train now.

[Karkoor]

@andrey Can you send coins from an exchange to the incognito wallet, then send it to a nano ledger from the incognito wallet to keep the ledger address hidden? So the exchange won’t know the nano ledger address the coins were sent to.

[Tempestblack]

Welcome to the community Karkoor…as to your question I do not believe it can be done at this time due to the fact that implementation or integration of hard wallet such as ledger has not been attained with Incognito app yet…

[Peter]

Hi @Karkoor, Tempestblack is correct. We are planning to do it next year. You can have a look at this roadmap: Privacy - Integration with hardware wallets

[Karkoor]

Thank you. Hopefully soon users will be able to take their crypto off exchanges privately then trade on uniswap.

[Jamie]

Why am I quoted here. I wasn’t saying the Provide system is centralized operationally. I was referring to network (de)centralization.

[Matt6412]

There is no operational explanation for how the automation works in provide available I believe (if so please link me to the source code on a github)… and when withdraws take manual intervention sometimes (ive had this happen to me after waiting 4 days, I was told it needed manual intervention because it was a large size) i’d say that is centralized.

[andrey]

@Matt6412 it is briefly highlighted here Liquidity v.2) pretty sure @henry knows it as well

@Karkoor you can do it, but the best way to anonymize your BTC is keep it on Incognito and as @Peter mentioned weathered work on native integration with Ledger.

[Matt6412]

@Jamie i did not post a screen shot

@andrey yes I have seen the graphic made that shows the mechanics but was looking for source code thats all. Code is law and info graphics do not prove anything. (Not saying that isn’t what is happening but this is an open source project so I’d think aspects that involve user funds should be open sourced)

[Jamie]

clicked the wrong reply button, my bad

[Jamie]

You are using my words to “prove” it is centralized, which seems to place my words out of context. Can you remove the screenshot? Thanks.