Buy crypto anonymously on the Incognito pDEX   

USDC to HOLO TOKEN FEES!??

#1

Hey,

I have been buying Holo Token using Incognito Wallet for months. I’ve gotten dozens of fiends and family to do the same. From the US, it seems like the only way to get Holo Token. Most other exchanges do not support it and the ones that do… do not support most US states.

In any case, the process was always the same:

Buy USDC on Coinbase
Send it to Incognito
Trade it for Holo (HOT)

The fee to make that trade was 0.000004 PRV.

Yesterday, out of the blue, the fee jumped to MINIMUM 48 PRV!

What is going on? Is this a bug?

2 Likes
Why Are Holo Price & Fees So High🤔
#2

Whomever had been supplying PRV-HOT liquidity on the pDEX pulled out their funds yesterday.

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[source]

This LP enabled the cross-pool trading between PRV-UDSC and PRV-HOT you had been using.

Until someone adds PRV-HOT liquidity again, a USDC-HOT trade is now provided through the Uniswap or Kyber integration. The source of the trade will be noted at the bottom of the Trade screen.

A Uniswap-based HOT trade is ~48 PRV while a Kyber-based HOT trade is ~142 PRV at the moment.

8 Likes
#3

Thank you! Still learning how this works…

Is there a different trade pair that you are aware of that can get me Holo affordably?

2 Likes
#4

FWIW this issue of liquidity provision has been a hot topic lately and there is a lot of discussion about how to address this issue for HOT and all other coins on incognito

If I provide HOT to the pool so you can trade again, there really isn’t any incentive for me to do so other than helping you out – providing to the pool would lock up my funds against my interests

They are trying to, with Provide “V2”, create a situation where I am motivated to put HOT liquidity up… the challenge then is how do you motivate to do so. Maybe by raising that beautiful .0000004 PRV trading fee a little bit, and giving me a fraction of your fee money that is collected when you trade HOT (using HOT that I provided to the pool, for example)

So I don’t have an immediate solution for you but thought it worth mentioning that you are not alone in your frustration and within the next couple months we should expect to see big changes from the team to correct the void left by coins with no liquidity left, such as HOT

2 Likes
#5

Hey @nateadmin, Bitrue can be accessed from the US while you wait for more liquidity. You lose the privacy of Incognito, but it has a USDT/HOT pair. Keep any tax requirements in mind when sending large amounts.

#6

Already tried. Most states are restricted: https://prnt.sc/1191tau

I wish I can find a normal wallet/exchange that works in NY and accepts Holo.