ETH transfer taking long to "initialize"

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 it’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 DEX’s / DeFi and people trading directly with their wallets and it’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 ^^

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

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 ^^

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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You are so wrong…And I can screencast withdrwals from Kucoin just for you. I had ~70 BTC volume on Binance in 2017 just from my arbitrage trades (more than 2000 deposits/withdrawals). It’s nearly impossible to arbitrage on Nash with these transfer issues. They still exist, nothing is exaggerated.

I wonder what would keep me from moving all of my funds to the trading contracts and keep it there until I want to cash out. Don’t have to worry about the transfers then.

Arbitrage.

I place limit orders for USDC only and don’t do arbitrage. But fair points for those who do.

when doing arbitrage I normally only in a few moments need to rebalance funds @kazanchev, either way when doing that is better to keep funds on the channels.

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Doesn’t Jobaba have a point though? For arbitrage you have to be quick, kinda needing funds available on each exchange you use to arbitrage.

Also on a CEX if you don’t have the funds available you are probably going to miss the arbitrage opportunity. Especially with the usual 12 confirmations for ETH/ERC20 and bitcoin is too slow anyway no matter the number of confirmations required.

I agree but what if my arbitrage volume is x20 of my initial holdings? I made 20 txs in 5 hours once (Switcheo-Kucoin).

12 confirmations are not an issue, initialization is. BTW I like how transfers show number of remaining confirmations now.

The “initialization” is just a single confirmation, is just the approve part. You can do internal re-balancing, would you guys like a demo arbitrage bot like the demo maker bot?

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But it’s the most time consuming part from my experience. I had no issues with deposits - they were instant. Trading contract to Personal is the worst now.

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The system changed how it works past week.

Yes I understood that. My point was that if you still have to transfer on any exchange, the opportunity for arbitrage is probably gone already. But I see that you do quite some transfers for arbitraging so there must be a very big and long arbitrage opportunity window you’ve found, good job :wink:

Anyway I definitely agree that when initialization of transfer takes hours for people, this is an issue and not convenient for the users. So I hope those cases can be fixed. For me personally, my transfers have been smooth on Nash lately.

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This is correct. I got initialization issues for both, NEO and ETH. This was solved by support by retrying the transfer. In both cases the whole process took 15-30 minutes until my transfers were finally pending.
Also I got a huge delay on ETH network as well as the issue with the NEO disappearance (dont know how to name it better)
After several attempts by the support to check what happened with the NEO tx support opened a engineer case. After this whole analyzing process by support (took again 15-30 minutes, the NEO shown up in my wallet a few minutes after I sent Fabio a PM.
So there were some kind of delay as well without any way I or support were able to see anything.

Hi oldsport,

Is it possible to keep a state channel open for prolonged periods of time, depositing and withdrawing to/from it as you feel like?

Or do we have to create a new state channel everytime we want to trade on Nash and close it after were done?

If the latter is the case, the time/costs of opening nee trade channels every time would be a challenge for the platform imo.

With kind regards,
Nick

Yes - this would be great!

normally on the nash app it takes time, while on the nash web application it is quick.