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All ODL activity on USD/MXN corridor has stopped


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After a slow weekend (which is pretty typical), I'm used to waking up on a weekday and seeing that a few million XRP have already moved through the corridor. As of now, there has been zero ODL traffic all day, even though market makers still seem present on Bitso.

Any idea what's going on? Other corridors (USD/PHP, AUD/USD, AUD/PHP) are still active according to https://utility-scan.com/#/dashboard. Is this a holiday thing? Testing / maintenance in progress? 

Edited by doopers
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15 minutes ago, doopers said:

After a slow weekend (which is pretty typical), I'm used to waking up on a weekday and seeing that a few million XRP have already moved through the corridor. As of now, there has been zero ODL traffic all day, even though market makers still seem present on Bitso.

Any idea what's going on? Other corridors (USD/PHP, AUD/USD, AUD/PHP) are still active according to https://utility-scan.com/#/dashboard. Is this a holiday thing? Testing / maintenance in progress? 

Alex Holmes (Moneygram CEO) did mention at Swell that there instances when ODL is not the most efficient way to conduct a cross border transaction. This might be one of those instances (speculating here).

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2 hours ago, DtotheK said:

Might be that they might be closely monitoring ODL activity, as it's a new tech to them. Perhaps they have skeleton staff during Christmas and decided to revert to their old ways of settlement which is well tested, as they don't have resources to monitor ODL.  There are a few possibilities, that's one.

My money's on this.

Most corporate offices more-or-less shut down during christmas week, and USD/MXN is MGI's bread-and-butter.

Since they're running 10% of the corridor through ODL, they're likely A/B testing ODL against their pre-existing flows to get a real-world estimate of cost-savings. (While ODL is about more than just cost savings, they'll want a good number there anyway). So even if they could keep an eye on results, those results would be muddier over christmas week due to stores being closed and other holiday-related schedule anomalies, so harder to get a good read on the costs.

Edited by ADingoAteMyXRP
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7 hours ago, peanut56 said:

It looks like its running now so it might just have been that untily-scan had hang-up.

I think it wasn't just utility-scan because there really weren't any ODLing from Bitstamp to Bitso during several hours. In hindsight I would say they were configuring MoneyGram's ODL to process higher volumes than before. For instance, this large tx happened recently.

https://xrpscan.com/tx/17383FBAC3A1FDAF5479F88F3EC9156CA8FF1AF2BF879587AC925E2300B78956

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