ETH transfer taking long to "initialize"

Exchange
#1

I did not trade on nash for a few month.
Now I wanted to do a quick trade and tried to send some ETH to the trading contract.
The transfer window told me that my transfer is initializing now and this may take up to one hour.
Also I have to be logged in for the whole time. If I close nash or logout the transfer will pause until I login again.

Sorry to say it like this but: WTF?
Is this a new behaviour? Is this now the case every time I transfer from personal to trading contract and vice versa?

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#4

Yea had the same. Initialization and transfer failed and I had to contact the support. With their help the transaction is pending now. But it is still pending. 1 and a half hour now. Whole process including support chat took me 2 hours so far and still did not the trade I wanted to do. Sure since the transaction is now pending on the eth chain its out of nashs control but this all takes way too long. My eth transfer from kraken to my nash wallet was confirmed within under a minute.

#5

Now, another 2 hours later I were able to trade.
Now I want to send the bought NEO from trading contract back to my personal accountā€¦ Same problem with NEO. Transfer does not initialize.
In the meantime my trading opportunity is gone. This cost me 12% of my cash I tradedā€¦ All due to this enormous delay

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#6

With help from support my transaction now got initialized.
It was pending but now my NEO disappeared.
They are not in trading contract, personal account or pending anymore.
Support and engineers are investigating now.

#7

@Kwicks could share with me the TX with issues? We donā€™t have issues with NEO in a long time.

The ā€œup to one hourā€ needs to be update after the update of past week, you can close and move away from that screen just after initialization, which normally takes 30sec.

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#8

sent you a PM. Thanks for your help but I do not want to bother you. Support told me that the engineers will check this as well.

#9

Posting any conclusion would be appreciated.

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#10

I would also like to have a response on the tx issue. It seems that corner cases still exist

#11

Never had issues with transacting neo on Nash. When sending from trading contract to funds manager NEO indeed dissapears for a brief moment from ā€˜pendingā€™ state and does not show up in your funds manager. After a couple of minutes the amount is added to the funds manager.

However, there are still many issues with eth transfers from trading to funds manager.
@canesin could you elaborate a bit more on this? Are you guys aware what is causing this ?

#12

The NEO transfer from @Kwicks went ahead no issues, I think the flashing you mentioned @roel.b is what got him worried - we will remove that, it exists because there is a moment when the withdrawal is confirmed but the balance is not (1 block diff), we will keep a pending state on this gap on the UI.

ETH is another conversation, the network is really congested this past days with a few scams. But txs work normally, issue is sometimes fees pump and one need to ā€œresendā€, we are adding something that will detect that there is this issue and present the user with the option to resend as soon as we can detect it on the network.

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#13

If Iā€™m not mistaken, what got him most frustrated was the overall delay of the operation. If ETH is congested, itā€™s one thing. But what about:

In other words, once initialized, NEO transfer is smooth and quick, but itā€™s very long to initialize. Thatā€™s something Nash can improve. Or was it an edge caseā€¦?

#14

Thanks for the info Fabio!

Yeah eth network is congested all of the time nowā€¦ I donā€™t think this will get better till eth 2.0 is live

#15

I think this must have been an edge case. I never had any issues with neo transactions on Nash. I use the exchange quite frequently so I would have noticed I think :slight_smile:

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#17

Because moving funds from personal to trading on Kucoin doesnā€™t do anything on the blockchain, itā€™s just numbers on your screen ^^

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#19

Because it does not open/close a state channel.

#20

Thatā€™s a simple send / receive sir not an opening of a state channel ^^

#22

The USP of all this is basically lightning style transfers from trading contract to trading contract which is coming soon ( TM )
Other than that it also offers self custody
And fiat on / off ramps

But yeah itā€™s just annoying with congested chains like ETH lately
That being said imagine yourself doing DeFi atm
All in all i think the pandoras box is open now regarding DEXā€™s / DeFi and people trading directly with their wallets and itā€™s a good thing :slight_smile:

The nash app with wallet connect enabled, BTC , ETH , NEO and others supported soon, fiat ramps , staking and trading and lighting send / receive can easily become the main wallet for a lot of people ^^

#23

There is no lighting style solution for eth transfers is there? Only solution is waiting for eth 2.0 or am I wrong?

#24

There must be a lot of projects trying to do something and Omisego is one of them, i think tether already migrated and i really wish all erc20 stable coins do the same one day ^^

#25

I think you are exaggerating, taken probably the best case of 1 min transfer you had on Kucoin. I have used about 7 CEX in the past and I have waited over 2 days to get a transfer issue resolved. So it is not true that you always get 1 minute transfer time on those exchanges. Having said that, I think the title of this post is misleading, trading speed does not include transfer or you could as well start from the time you get your fiat from the bank and then put everything on exchange trading time. For traders that take quick positions, they get their account ready and set to take opportunity. So I think the entire transfer issue is over-hyped in my opinion. The team should definitely try to improve where possible. But my point is that transfer should be an occasional thing and not what you want to do in a hurry to take position of an opportunity

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