Wild/wierd swap rates & swap routes for PRV/USD

[CryptoWizard]

PRV->USDT Swap rate…

PRV->USDT Swap Route…

PRV->USDC Swap rate…

PRV->USDC Swap route…

Much better deal BUYING rather than SELLING PRV…
(75% POS Price Impact ??)

USDT->PRV Swap Route…

So, if I understand this correctly… Buy vs Sell spread is HUGE.

Unfortunately I’m unwilling to invest more in PRV currently.
I have some investments in Provide, which will (for the time being) stay there.
However no more investments will be added into Incog.
Not sure I like what I see in this project. Same goes for many (not all) crypto projects that I’ve been a part of.

[yoo]

While it’s way off the $0.1012 price shown in the app on the Market tab, I don’t see much difference between the actual buy/sell prices you posted. Selling PRV for a stablecoin is about $0.584 each prv, buying prv with a stablecoin is about $0.0578 each…

That said, I’ve been on incognito for a while… and I was buying PRV at prices all the way up to $3.00 for each prv - so seeing it sell for so little is painful.

I sill think the earning (“interest”) rates given in provide is way too high, as it’s obviously unsustainable - the price for PRV just keeps tanking.

[CryptoWizard]

I was guessing spread from “price impact”. Usually price impact is re liquidity avail. I’ve been amazed that selling 1PRV has such a high price impact.

Poss that these figures do not mean what I think they mean.

However I’m not in the market anyway, just looking at rates.

I should clarify that for me, current price is irrelevant. Whole market is hugely depressed. My perspective is more user’s experience w current infrastructure vs admin/dev plans.

Its quite poss that for devs, PRV price is NOT irrelevant. If their funding comes from PRV value somehow, then they would have a major crisis these days.
Hence, what seems to be some PRV market manipulation. (quoted price vs actual swap price).

[slabb]

So you think they’re lying to conceal the real PRV price so they can pay their “10%” to “13%” rates in provide by using false PRV price to effectively pay nearly half that?

[yoo]

I don’t know, but I don’t think so - I’m getting a lot more PRV than I used to in provide (though prices for btc and other crypto is up -but still). But I also already think the percentages they’re paying out is too high anyway - it’s like hyper deflationary…

[CryptoWizard]

That perspective is possible.

I was thinking more that admins are depressing/lowering PRV price to give buyers a discount & discourage sellers (those converting back to USD for exiting system).

[Jared]

This is something that I agree with. Provide rates are rather high and it seems to discourage users from adding funds to the liquidity pools, thus hurting the exchange rate.

[slabb]

Don’t the funds in provide get put into liquidity pools?

[Jared]

Yes, I’m referring to that users don’t add to the liquidity pools directly themselves with Provide. Therefore, they do not need to worry about the other half of the pair and can withdraw at any time.

[CryptoWizard]

Your various statements have a certain disconnect.

Popular Provide pools -> Hurting Liquidity Pools.

Provide Pools not funding LPs directly.
-> Admins optionally topping up LPs from Provide?
-> Otherwise using Provide funds in Treasury perhaps.

However I have not noticed a complete disconnect betw quoted PRV price & Swap price previously, although I wasn’t necessarily looking closely enough.

What I can currently see is a VERY FAVOURABLE PRV buy discount & VERY UNFAVOURABLE PRV sell price, compared to quote price… which makes me think of a walled garden financial fence… similar to the capital controls of some countries… investments are sought but withdrawals are discouraged.

As mentioned in this thread, the spread betw Swap buy/sell not too bad.
The Price Impact listed on Swaps seems to be diff betw Quote & Swap price.

Incorrect Quote Price listed? Realistically the PRV price is the Swap price, what you can buy/sell PRV for.

Where are the LP pools listed on the App? Are they listed, in App, or website?

[henno]

I think it’s unjust that the platform calculates the APR using the “Market Price” of PRV (i.e., $0.1012), when in reality, PRV’s value is halved upon SWAP (Or you have to wait forever to SELL it).

[yoo]

Hard truth - in reality, I don’t think it matters. If no one is buying PRV, it’s value will just keep dropping. If they pay you twice as much PRV, it’s value will drop in half. The only way things get better for PRV is if more people start using incognito & if more people start supplying liquidity to the pools (using the Earn tab in the app).

[Lolgang]

Well, should we start advertising this product in places people will actually use it? It has a valuable use case.

[sid]

All, I don’t think the sell limit order is working anymore, or at least I haven’t seen it work for any orders of even $100 value or above. The order book appears to be filling up with hundreds of thousands of PRV sell orders, only to see them sitting there for weeks, and some of them trying to lower their bid in hopes to sell, without any luck.

My own limit orders have been sitting there for over 3 weeks despite lowering prices far below the lowest order value down to half of the falsely advertised price of 0.1012 on the privacy markets page of the app.

Aside of the remorse and agony of seeing the value of a significant amount of investment from 4 years ago go down the drain, I honestly question the intention of the core dev team and request that they respond to the several posts made on this thread (and other threads like the roadmap thread).

So if any of you hold a few thousand or a few tens of thousands of PRV, what is it truly worth right now and are you even able to sell it? Or are we at a point where we should indeed consider the value of PRV to be worthless, and move on? I am sorry for the tone of this message, but it is extremely disappointing to sit on several messages to the team and not seeing any meaningful responses or direction from them.

[Jared]

Thank you for your forthright message. I understand the frustration that arises from seeing your and others’ limit orders go unfulfilled and the resulting impact on trust and investment.

I want you to know that the core development team is aware of these issues and actively working on them. I have relayed your concerns and those from other forum posts to the team, pressing for a timely response to the community’s questions.

While I cannot share detailed plans at this moment, please be assured that we are committed to enhancing platform functionality and improving our communication. We’re exploring all options to stabilize the market and address your concerns effectively.

We appreciate your patience and continued support as we navigate these challenges. More updates will follow soon.

[CryptoWizard]

Maybe @sid info (one sided liquidity) is the reason that the PRV swap rate is dropping precipitously?

PRV is certainly approaching zero, or threatening to…

[sid]

Thanks for a prompt response, @Jared and I completely get the fact that you’re doing your job in the best way possible. However, I’m very concerned at the pace at which things are even moving (or appearing on this communication channel) at a time when the broader crypto market and projects out there are blazing at full speed to capitalize at the overall bullish sentiment/bull market (minus the periodic correction wicks).

The order book in the app is looking antagonizing and tells the story of desperation of some users out there. At the time of this writing, I’m seeing PRV sale price of $0.02 when I see the last successful transaction, but any orders priced above that value continue to sit in limbo and I believe the this value will come down to less than $0.01 as soon as a couple of very low value sell orders are fulfilled with the ultra-tiny liquidity that may be left there.

So my question is by when does the team think they will be able to come up with an idea to “stabilize the market”? Because we all know two things:

1. The market (and users) will typically chase the shiny new project/product, so a project like incognito will need to beat that headwind.

2. Things get obtusely harder ones the bull market passes stage 3, and by the time we get to the end of it, we all know very well what happens.

Just sharing my 2 satoshis for what its worth!