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© 2020 Relevant Protocols Inc.
A space for introductions, questions, and updates from the Relevant Team New to Relevant? Check out [this guide](https://relevant.community/general/post/5f442f65800055001716f84f).
21925 Members
See All
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
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12.6K
Hi all I've been playing around on xDai recently and in particular Honeyswap. I was thinking of setting a liquidity pool up on there for REL as I know current ETH fees are killing the ability for people to make profitable trades on Uniswap for the REL they have earned. Its currently about $3.50 to peg onto xDai and less than a $0.01 to trade and then peg back out to Ethereum. What are peoples thoughts on this? EDIT: I did buy a small amount of $HNY whist playing on it for some ETH Layer 2 fun and experience.
33
12.6K
Hi all I've been playing around on xDai recently and in particular Honeyswap. I was thinking of setting a liquidity pool up on there for REL as I know current ETH fees are killing the ability for people to make profitable trades on Uniswap for the REL they have earned. Its currently about $3.50 to peg onto xDai and less than a $0.01 to trade and then peg back out to Ethereum. What are peoples thoughts on this? EDIT: I did buy a small amount of $HNY whist playing on it for some ETH Layer 2 fun and experience.
Yes at the current volume the Eth fees are likely prohibitive to obtain or sell Rel on Uniswap especially for smaller traders. If a liquidity pool is set up there would it show up as a separate market from Uniswap on coinmarketcap or coingecko?
Yes at the current volume the Eth fees are likely prohibitive to obtain or sell Rel on Uniswap especially for smaller traders. If a liquidity pool is set up there would it show up as a separate market from Uniswap on coinmarketcap or coingecko?
Very good point. This is something I hadn't considered. I honestly don't know and hadn't thought that out. I think I just was having to much fun playing with it. 🤭
Very good point. This is something I hadn't considered. I honestly don't know and hadn't thought that out. I think I just was having to much fun playing with it. 🤭
Looks like Coingecko tracks Honeyswap, so I imagine it would show up there.
Looks like Coingecko tracks Honeyswap, so I imagine it would show up there.
Does it mean rel will be on dai chain? Wow that will be great ☺️
Does it mean rel will be on dai chain? Wow that will be great ☺️
I think this is a good idea, and worth a try! We can also help coordinate this. Looks like eventually we could even allow users to cash out directly to xDAI. This will be possible with some smart contract updates and once Omnibridge Phase 2 is complete [https://www.xdaichain.com/about-xdai/roadmap#omnibridge-phase-2](https://www.xdaichain.com/about-xdai/roadmap#omnibridge-phase-2) .
I think this is a good idea, and worth a try! We can also help coordinate this. Looks like eventually we could even allow users to cash out directly to xDAI. This will be possible with some smart contract updates and once Omnibridge Phase 2 is complete [https://www.xdaichain.com/about-xdai/roadmap#omnibridge-phase-2](https://www.xdaichain.com/about-xdai/roadmap#omnibridge-phase-2) .
Ok, great!! I think this is a nice plan. I love the idea of having ERC20 REL and xDAI REL.
Ok, great!! I think this is a nice plan. I love the idea of having ERC20 REL and xDAI REL.
There is a thundercore network which has very less transaction fee. I dont know whether this is useful or not, but to be frank thundercore are doing great , they dex pioneers too. Hope its useful . I think this is related our discussion
There is a thundercore network which has very less transaction fee. I dont know whether this is useful or not, but to be frank thundercore are doing great , they dex pioneers too. Hope its useful . I think this is related our discussion
Definitely thundercore network suggestion would be useful , they also have tt-eth, tt-wbtc etc . In same way we can have rel too. Which cut downs transaction fee issue
Definitely thundercore network suggestion would be useful , they also have tt-eth, tt-wbtc etc . In same way we can have rel too. Which cut downs transaction fee issue
I've not come across this one. Have you a good article that's a good explainer?
I've not come across this one. Have you a good article that's a good explainer?
Even I know, yeah they could be useful. Below is their medium link [https://thunderofficial.medium.com/](https://thunderofficial.medium.com/)
Even I know, yeah they could be useful. Below is their medium link [https://thunderofficial.medium.com/](https://thunderofficial.medium.com/)
I have contacted one their dev team , they wanted to contact relevant team, how should they contact relevant team??
I have contacted one their dev team , they wanted to contact relevant team, how should they contact relevant team??
So I've added REL to xDAI Chain. Its pretty pricey to actually then bridge the ERC20 REL tokens themselves over to xDai so it might be worth waiting until we can enable cash out in xDai REL as mentioned until we set up the liquidity pool?
So I've added REL to xDAI Chain. Its pretty pricey to actually then bridge the ERC20 REL tokens themselves over to xDai so it might be worth waiting until we can enable cash out in xDai REL as mentioned until we set up the liquidity pool?
Do we need to exchange the current rel coin from erc2o to dai!?? If we have to exchange then how?
Do we need to exchange the current rel coin from erc2o to dai!?? If we have to exchange then how?
You don't need to do anything at the moment. If layer 2 support is added the team will post about it
You don't need to do anything at the moment. If layer 2 support is added the team will post about it
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