Questions from a first time user

[moneroshillz]

1. 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 When i withdraw my Monero to my exodus wallet is it withdrawn from the same wallet that all other incognito user’s Monero is withdrawn from?

2. 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?

3. What causes the impact price to sometimes fluctuate every now and then even for popular pairs?

4. If we choose to pay swap fee in PRV, is it cheaper than paying fee in USDT, is this correct?

[moneroshillz]

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?

[Jared]

Hello @moneroshillz and welcome to Incognito!

@moneroshillz

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 When i withdraw my Monero to my exodus wallet is it withdrawn from the same wallet that all other incognito user’s Monero is withdrawn from?

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?

@moneroshillz

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?

I believe this post will answer your questions regarding pDEX v3 and then some:

Introducing the new pDEX (pDEX v3)

Let’s start the topic with problems of the current pDEX and its sibling - Provide. With the current pDEX: No trading fees are collected, the pDEX cannot operate itself, and the core team has to subsidize the high APY(s) to incentivize people to provide liquidity for pDEX. The current Automated market makers curve is inefficient resulting in high slippage (or requires huge liquidity to reduce the slippage) It doesn’t allow placing a limit order but instead, it requires users to observe …

@moneroshillz

If we choose to pay swap fee in PRV, is it cheaper than paying fee in USDT, is this correct?

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.

[Jared]

@moneroshillz

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?

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.

[moneroshillz]

@Jared

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.

@moneroshillz

If we choose to pay swap fee in PRV, is it cheaper than paying fee in USDT, is this correct?

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?

[abduraman]

@moneroshillz

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?

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.

@moneroshillz

@moneroshillz

If we choose to pay swap fee in PRV, is it cheaper than paying fee in USDT, is this correct?

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.

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.

[moneroshillz]

@abduraman

pay the trading fee with

Thanks for your replies.

Do you know why some pairs have no option to pay fee in Prv? USDC and DAI for example.

[abduraman]

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.

[Tempestblack]

A big thank you to both @Jared and @abduraman for the answers to the community members’ questions…

[Linnovations]

@Tempestblack

A big thank you to both @Jared and @abduraman for the answers to the community members’ questions…

I’d like to echo the above comment by Tempestblack and would also like to Welcome and Thank @moneroshillz for asking such great questions.

[SPAddict25]

I too would like to thank @moneroshillz for having the best username.