I have obtained some Monero in the app as a result of using the swap feature. When i withdraw my Monero to my exodus wallet is it withdrawn from the same wallet that all other incognito user’s Monero is withdrawn from?
How is the price impact calculated on swap feature? do i get a better deal by splitting a larger trade up into smaller ones for lower price impact or will i end up paying the same?
What causes the impact price to sometimes fluctuate every now and then even for popular pairs?
If we choose to pay swap fee in PRV, is it cheaper than paying fee in USDT, is this correct?
Further question - When i deposit monero on the platform from my exodus wallet, is this deposited to a shared wallet that everybody else as well? or just a personal monero wallet for my account?
Hello @moneroshillz and welcome to Incognito!
For each coin type there is a range of addresses used for shielding (deposits) and un-shielding (withdrawing). It is possible to shield and then immediately unshield and the funds originate from the same address. Incognito is not and should not be used as a mixing service. Incognito offers users the best privacy when they stay within the Incognito ecosystem. That being said, there have been other users asking questions related to this: Privacy question on this use case?
I believe this post will answer your questions regarding pDEX v3 and then some:
The fee should be the same, just with the option to use PRV or not. This is useful for users who do not have a lot of PRV at the moment.
The funds are first deposited into a revolving temporary address and then sent to your personal address.
When you shield you will see a message “Expires at ##.### 00:00XX”. This temporary address belongs to you for that time period.
If i swap 1000USDT -> XMR i can either pay 3.36 PRV ($2.45) or 5 USDT ($5), so it does seem to be lower fee if paid in PRV from what i can see?
Depends. If there are no arbitrageurs (humans/bots synching the prices with the market) on the pairs you trade, yes you will end up paying the same. Otherwise, you will get a better deal.
I should make a correction. @moneroshillz you are right. PRV fees are paid at a discount ratio (currently, %50). For example, you want to buy some BTC with 1000 USDT. If you pay the trading fee with USDT, you will pay 5 USDT (%0.25 * path length [USDT->PRV, PRV -> BTC]) . If you prefer PRV, you will pay 2.5 USDT “in PRV” as the trading fee.
Thanks for your replies.
Do you know why some pairs have no option to pay fee in Prv? USDC and DAI for example.
Ah, while I was writing the post, I would write it too but I forgot it. Only coins/tokens paired with at least 10k (afaik) PRV can be traded by discounted trading fees. Unfortunately, USDC and DAI have no pair with PRV. Their main pairs are with USDT.
I’d like to echo the above comment by Tempestblack and would also like to Welcome and Thank @moneroshillz for asking such great questions.
I too would like to thank @moneroshillz for having the best username.