[comit-dev] [XMR<>BTC] Project Update

Franck Royer franck at coblox.tech
Fri Jan 8 05:21:18 UTC 2021

The previous update can be found at [1]

Happy New Year!

# ~Mainnet~ Testnet

Daniel has executed a number of successful swaps on stagenet running
Alice and Bob on his machine.
We are now proceeding with swaps across the internet between Daniel and myself.
We haven't yet done a successful swap across Sydney but have pushed a
number of fixes to improve the experience and stability of the daemon.
Trying another swap as I write this email :)

We are also getting more familiar with Monero tools
(monero-wallet-rpc, monero-wallet-cli) in the process, which helps us
get a better idea of what the UX of an MVP could look like.

In the meantime, Rishab is proceeding with major code clean and
quality improvements.

# Next Project: Testnet Single Market Maker - swap CLI

The kick-off document for the next project is being reviewed and we
will share it next week.

In our next cycle, we intend to build a testnet MVP of a single market maker.

In such MVP, there are 2 separate actors:
1. A Service Provider (SP, or Maker or Liquidity Provider) that runs
automated software and a website from which users can trigger a swap
2. Users, who install a swap CLI and go to the website of any Service
Provider to swap coins.

Due to the current limitations of the protocol (Bitcoin is locked
first) we intend to only provide one direction: The user sells Bitcoin
for Monero from the SP.
This allows an SP to avoid DDOS-type/fund depletion attacks.

The intent is to provide a MVP quality software for the user.
By the end of the project, we aim to run a testnet SP and allow anyone
to run the swap CLI and trade against the SP. It means that our focus
will be on the swap CLI features and UX.

We will still have to deliver a number of functionality on the SP side
(website, automated software). However we do not intend, at this
stage, to provide an easy deliverable for anyone to run their SP. This
will most likely be the focus of the following cycle.

As usual you can find us on matrix [2] or check out our repo [3].

F, D & R

[1] https://lists.comit.network/pipermail/comit-dev/2020-December/000032.html
[2] https://matrix.to/#/#comit-monero:matrix.org?via=matrix.org&via=haveno.network
[3] https://github.com/comit-network/xmr-btc-swap/

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