Non-Custodial Swaps for XMR and SOL | New Node Launch Sparks Debate
Edited By
Samantha Reyes
A fresh update from the Monero community has stirred conversations around the launch of a new non-custodial swap service for XMR and SOL. The developer behind the initiative confirmed that their full XMR node is now live, allowing seamless privacy-focused transactions without third-party dependencies.
Key Developments in the Monero Community
The new service aims to provide a privacy-preserving solution for users wanting to swap XMR for SOL and vice versa. Key features include:
No KYC requirements
No wallet connections
Clean execution with just address input/output
The project, currently 85% complete, plans to implement a 4% swap fee to support infrastructure and development. This has raised eyebrows among potential users, many of whom are expressing concerns about the fee structure.
User Reactions: Fee Controversy and Suggestions
In response to the announcement, users have voiced significant concerns regarding the adopted fee.
"4% is insane man like woah" wrote one individual, while another pointed out, "Honestly, I'd go the way of retoswap at first and start with no fee" This skepticism reflects a broader debate about what is considered a fair fee in the non-custodial swap space.
Meanwhile, users have shown interest in cutting-edge features for enhanced privacy, with one comment stating, "I prefer no UI wallet connection at all, just raw address input/output!" Many believe this approach would minimize tracking opportunities.
Building Trust in the Monero Ecosystem
The developer's choice to operate their own node instead of relying on third-party providers reinforces the commitment to privacy and user agency. One user commended, "Running your own full XMR node is a big step toward strengthening privacy"
Yet skeptics remain, questioning the decision amid competitive alternatives like FixedFloat and TradeOgre, which offer lower fees.
Potential Implications for the Future of Non-Custodial Swaps
As the project moves closer to full launch, equipping the community with privacy tools could play a key role in stabilizing Monero's standing in the cryptocurrency market. With the service aimed at privacy-conscious people, the demand for trustless exchanges is evident.
Gathered Insights
◀️ 4% swap fee raises eyebrows among the Monero community.
◀️ Users prefer raw input/output over UI wallet connections.
◀️ There is skepticism towards the long-term viability of the service without initial fee incentives.
The community is eager to see how these features evolve. Will this move solidify the service's standing, or will the fee deter users? Only time will tell as the project inches closer to its full launch.
What Lies Ahead for the Non-Custodial Swap Service
As the non-custodial swap service for XMR and SOL approaches its full launch, the likelihood of changes is significant. Many in the Monero community are concerned about the 4% swap fee. There's a strong chance that developers will adjust this fee based on feedback, potentially lowering it to attract more users, estimating around a 20-30% probability of such change. Additionally, the demand for features that prioritize privacy gives the project a solid foundation, with experts estimating a 60-70% chance they will implement improvements that enhance user experience. If users see these adjustments, the service may stabilize Monero's standing amidst competitors, reinforcing the trend toward privacy-focused exchanges.
Echoes from the Streaming Revolution
Looking back to the early days of streaming services, we see a parallel situation. In the late 2010s, platforms like Twitch faced skepticism regarding subscription models and fee structures. Many fans hesitated to embrace these new services due to perceived costs. Yet, over time, platforms adapted by adding value through features, leading to increased user engagement. Just as these gaming communities evolved, the Monero ecosystem may shift and grow, redefining privacy and decentralization while learning to meet the unique needs of its audience.