Say I have only 1 token such as Augur (REP) in my wallet and the service I am using requires payment in Travala (AVA).
I don’t imagine that a REP/AVA trading pair will exist, so will NEX enable a seamless token conversion (as far as the end user is concerned) by placing successive market orders on REP/ETH and ETH/AVA markets?
So if I want to exchange ‘A’ for ‘B’ but there is no A/B pairing on NEX, using a pair ‘C’ common to both A and B and 2 separate trades placed in the correct order using the proceeds from trade 1 to fund trade 2.
A large market order token conversion could result in some serious slippage particularly in an illiquid trading pair. Will there be a slider to limit the maximum slippage on a trade or at least a warning when converting tokens?
(I appreciate that most basic users wont understand what slippage is so this may need to be simplified)