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Trading Non-XRP Assets with XUMM


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Am I missing something, or is it not possible (yet)? 

I'm wanting to use the XUMM app to trade Casino Coin (CSC) for USD, EUR, CNY, whathaveyou ... but, XUMM seems to make XRP a default member of every trading pair. 

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Posted (edited)

Actually you can't do trading directly inside Xumm.
When you have a PC you can use XRP Toolkit and sign the transaction with XUMM. So you can trade all assets which are availlable on XRPL. (e.g. ALV/USD; CSC/USD; BTC/EUR; ....)

There is an DEX XApp in development. Then you can also trade inside Xumm without any other application. See Twitter

In future also more assets are availlable on DEX. With the launch of Flare Network it is possible to issue decentralized assets on XRP DEX. The first should be Aurei. It is trustless USD (similar to DAI).


 

Edited by Coolio
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Posted (edited)

Hi ... 

Thanks @Coolio ... but I think perhaps I wasn't clear .. 

XRP is default member of every trading pair regardless. See image of how XRP is grayed out and unchangeable. 

So ... it doesn't seem possible to trade a non-XRP asset for another non-XRP asset .... likeUSD:Bitstamp for CSC. 

Every trade via XUMM/XRPTookKit seems to require XRP to be involved ... kinda surprises me that I'd have to resort to RippEx to do this ... 

Screen Shot 2021-05-01 at 8.49.08 PM.jpg

Screen Shot 2021-05-01 at 8.57.53 PM.jpg

Edited by RobertHarpool
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Posted (edited)

Hello Robert,

I have checked. And yes, you are true!

Actually the base is always XRP. This is odd and should be changed by Towo Labs AB as soon as possible.

"Auto Bridging" is a standard functionality of the DEX. So it should be possible to trade e.g. ALV/USD

Edited by Coolio
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8 hours ago, RobertHarpool said:

Am I missing something, or is it not possible (yet)? 

I'm wanting to use the XUMM app to trade Casino Coin (CSC) for USD, EUR, CNY, whathaveyou ... but, XUMM seems to make XRP a default member of every trading pair. 

To keep XUMM simple for most, we added XRP only market orders indeed. More advanced trades will be added with two xApps by us in the near future, and other ecosystem participants are working on cool xApps using the DEX as well 😎

One of the xApps allows trading pairs where both aren't XRP. The other xApp we're working allows sending and receiving anything to anything much like the old Ripplw Trade client offered.

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Posted (edited)
10 hours ago, RobertHarpool said:

Am I missing something, or is it not possible (yet)? 

I'm wanting to use the XUMM app to trade Casino Coin (CSC) for USD, EUR, CNY, whathaveyou ... but, XUMM seems to make XRP a default member of every trading pair. 

Meanwhile you can use Sologenic DEX (https://sologenic.org/trade). There you can trade against all markets.

You can sign the transaction aslo with XUMM. :-)

image.png.7a7ebfed9c6ac895454a6abc4704e8c4.png

Edited by Coolio
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@Coolio Thank you for sharing about Sologenic ... Due to your post, I revisited the project. It seems that it has been coming along nicely and looks very promising. I look forward to diving even deeper these next few days. Do you have any idea what their timetable is for offering tokenized stock? 

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19 hours ago, Wietse said:

One of the xApps allows trading pairs where both aren't XRP. The other xApp we're working allows sending and receiving anything to anything much like the old Ripplw Trade client offered.

I still use the old Rippex updated version of the Ripple Client...can't wait to have something new to work with cause it's 5 years old now....

I hope you'll release a desktop solution...thanks

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5 hours ago, RobertHarpool said:

@Coolio Thank you for sharing about Sologenic ... Due to your post, I revisited the project. It seems that it has been coming along nicely and looks very promising. I look forward to diving even deeper these next few days. Do you have any idea what their timetable is for offering tokenized stock? 

Try to swap Solo on the Dex, poor price and poor liquidity. Solo and its exchange CoinField seem shady. Looks like mainly wash trading is going on on the exchange, order books look scammy. I don't, but in case you're sitting on Solo you probably learned of it the hard way.

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Posted (edited)
5 hours ago, Malloy said:

I still use the old Rippex updated version of the Ripple Client...can't wait to have something new to work with cause it's 5 years old now....

I hope you'll release a desktop solution...thanks

Hey man, try using solo's dex with what @Coolio said, I just tried it, signing in using XUMM app with my acct active I want to trade with, in this case my acct holding CSC.  You will get a better interface than our old Rippex client.  Here's a screenshot with small amount traded just to make sure it worked

 

 

74ed1fd50072e1de78588ff72533357b.png

Edited by pucksterpete
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2 hours ago, panmores said:

Try to swap Solo on the Dex, poor price and poor liquidity. Solo and its exchange CoinField seem shady. Looks like mainly wash trading is going on on the exchange, order books look scammy. I don't, but in case you're sitting on Solo you probably learned of it the hard way.

Everything on the XRPL DEX has poor price and poor liquidity. It's been a ghost town since the FinCen agreement. There's a glimmer of hope for the future though - we already know a trustless dollar stablecoin, Aurei (AUR), is coming this summer and I hope all of of Flare's F-assets (and FLR itself) will eventually be bridged.

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4 hours ago, panmores said:

Try to swap Solo on the Dex, poor price and poor liquidity. Solo and its exchange CoinField seem shady. Looks like mainly wash trading is going on on the exchange, order books look scammy. I don't, but in case you're sitting on Solo you probably learned of it the hard way.

Agreed...just Google the team behind it and you'll find that all of this has been reported many times...I'm staying away...waiting for our trustworthy friend  Wietse to come up with a solution...

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3 hours ago, pucksterpete said:

Hey man, try using solo's dex ...

Thanks but I don't trust them ...some people lost a lot with these guys

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