🔁-Swap Providers

This guide is written for system administrators of projects looking to source liquidity on the OpenDEX network and is still an early-stage WIP.

Prerequisites

Two Modes

Default: Light setup using Neutrino and a random open eth provider. This keeps the setup light-weight & cheap, but creates a certain dependency on other people's full nodes.
Optional: Full setup using bitcoind, litecoind and geth. Requires more time and resources, but keeps the setup trustless.

Three Networks

Simnet. Status: down until further notice
Testnet. Status: up | Required CPUs: 2 for light, 4 for full | RAM: 2GB for light, 16GB for full | Disk: 1GB for light, 200GB for full | Initial Sync Time: 15 mins for light, 24h for full
bitcoin testnet 3, litecoin testnet 4, ethereum rinkeby. Faucets: t-BTC, t-LTC, t-ETH 1 or 2. If you need help or some testnet coins, hit us up on Discord!
Mainnet. Status: down | Required CPUs: 2 for light, 4 for full | RAM: 2GB for light, 16GB for full | Disk: 1GB for light, 1TB for full | Initial Sync Time: 30 mins for light, 72h for full
Down until all breaking changes are merged and some weeks on testnet didn't reveal major issues.

Software

Docker & Docker Compose.

Version >= 18.09 on Linux or Windows 10 using WSL 2. If you do not have docker & docker-compose installed yet and you are using Ubuntu 20.04 LTS, install these via sudo apt install docker.io. If you are using any version besides Ubuntu 20.04, follow the official docker install instructions. Also make sure that the current user can run docker commands. Test with docker run hello-world. If this fails, follow these instructions. This guide was written using Ubuntu 20.04 LTS.

The Setup

From here we assume that your device is running with docker set up. Check the guides in the hardware section above if your device is not ready yet.

Let's Roll

Start the environment with

curl https://raw.githubusercontent.com/opendexnetwork/opendex-docker/master/opendexd.sh -o ~/opendexd.sh
bash ~/opendexd.sh

The setup will ask you to choose the network:

1) Simnet
2) Testnet
3) Mainnet
Please choose the network: 3
🚀 Launching mainnet environment
🌍 Checking for updates ...

Sync light clients (default):

Syncing light clients:
┌─────────┬─────────────────────────────────────────────────────┐
│ SERVICE │ STATUS                                              │
├─────────┼─────────────────────────────────────────────────────┤
│ lndbtc  │ Syncing 34.24% (610000/1781443)                     │
├─────────┼─────────────────────────────────────────────────────┤
│ lndltc  │ Syncing 12.17% (191000/1568645)                     │
└─────────┴─────────────────────────────────────────────────────┘

And then guide you through some basics:

Do you want to create a new opendexd environment or restore an existing one?
1) Create New
2) Restore Existing
Please choose: 1

When creating a new opendexd SEED, the setup asks you to set a password to encrypt your environment's private keys and to write down your mnemonic phrase. This serves as backup for your opendexd node key and wallets (your on-chain assets). This is your last resort in case something happens to your device. Keep it somewhere safe!

You are creating an opendexd node key and underlying wallets. All will be secured by a single password provided below.

Enter a password: 
Re-enter password: 

----------------------BEGIN OPENDEX SEED---------------------
 1. you         2. won't       3. find        4. money      
 5. in          6. this        7. seed        8. but    
 9. good       10. thinking   11. if         12. you      
13. are        14. interested 15. in         16. getting     
17. rewarded   18. for        19. testing    20. opendex  
21. security   22. hit        23. us         24. up   
-----------------------END OPENDEX SEED----------------------

The following wallets were initialized: BTC, LTC, ERC20(ETH)

Then you'll be asked to enter the path to your backup drive, e.g. a previously mounted USB drive:

Please enter a path to a destination where to store a backup of your environment. It includes everything, but NOT your on-chain wallet balance which is secured by your opendexd SEED. The path should be an external drive, like a USB or network drive, which is permanently available on your device since backups are written constantly.

Enter path to backup location: /media/USB/
Checking... OK.

The entered backup drive location is persisted as backup-dir = "/media/USB/" in mainnet.conf and can be changed any time. Alternatively, you can consider running your environment on two hard drives in RAID 1 to protect against data loss.

Then the setup might restart clients and ask you to enter your password once more before the CTL

Use the status command to check on the your setup's health and sync progress. The default light setup should show Ready after some seconds:

mainnet > status
┌───────────┬────────────────────────────────────────────────┐
│ SERVICE   │ STATUS                                         │
├───────────┼────────────────────────────────────────────────┤
│ bitcoind  │ Ready (light mode)                             │
├───────────┼────────────────────────────────────────────────┤
│ litecoind │ Ready (light mode)                             │
├───────────┼────────────────────────────────────────────────┤
│ geth      │ Ready (light mode)                             │
├───────────┼────────────────────────────────────────────────┤
│ lndbtc    │ Syncing                                        │
├───────────┼────────────────────────────────────────────────┤
│ lndltc    │ Syncing                                        │
├───────────┼────────────────────────────────────────────────┤
│ connext   │ Ready                                          │
├───────────┼────────────────────────────────────────────────┤
│ opendexd  │ Waiting for lndbtc, lndltc                     │
└───────────┴────────────────────────────────────────────────┘

If you configured the full setup via config file or cli parameters, the sync will start fast and get slower towards the end. You might see 0.00% progress for several minutes at first.

mainnet > status
┌───────────┬────────────────────────────────────────────────┐
│ SERVICE   │ STATUS                                         │
├───────────┼────────────────────────────────────────────────┤
│ bitcoind  │ Syncing 0.00% (0/436000)                       │
├───────────┼────────────────────────────────────────────────┤
│ litecoind │ Syncing 0.00% (0/324000)                       │
├───────────┼────────────────────────────────────────────────┤
│ geth      │ Syncing 0.00% (55/9140561)                     │
├───────────┼────────────────────────────────────────────────┤
│ lndbtc    │ Waiting for sync                               │
├───────────┼────────────────────────────────────────────────┤
│ lndltc    │ Waiting for sync                               │
├───────────┼────────────────────────────────────────────────┤
│ connext   │ Waiting for sync                               │
├───────────┼────────────────────────────────────────────────┤
│ opendexd  │ Waiting for sync                               │
└───────────┴────────────────────────────────────────────────┘

After a while you should see all three full-nodes syncing nicely.

mainnet > status
┌───────────┬────────────────────────────────────────────────┐
│ SERVICE   │ STATUS                                         │
├───────────┼────────────────────────────────────────────────┤
│ bitcoind  │ Syncing 43.06% (262348/609123)                 │
├───────────┼────────────────────────────────────────────────┤
│ litecoind │ Syncing 35.94% (631593/1757002)                │
├───────────┼────────────────────────────────────────────────┤
│ geth      │ Syncing 10.16% (929072/9140623)                │
├───────────┼────────────────────────────────────────────────┤
│ lndbtc    │ Waiting for sync                               │
├───────────┼────────────────────────────────────────────────┤
│ lndltc    │ Waiting for sync                               │
├───────────┼────────────────────────────────────────────────┤
│ connext   │ Ready                                          │
├───────────┼────────────────────────────────────────────────┤
│ opendexd  │ Waiting for sync                               │
└───────────┴────────────────────────────────────────────────┘

Bitcoind/Litecoind should finish syncing within 12h, geth in about 72h on powerful hardware. A Pi4 needs about twice that long.

The CLI takes opendex-cli commands without the need to prepend opendex-cli, e.g. simply type getinfo to get basic information about your opendex node. Run help to get an always up-to-date list of commands. Append -j to any command to get JSON instead of the formatted output, e.g. using listpeers to see other opendexd nodes on the network:

mainnet > listpeers -j
{
  "peersList": [
    {
      "address": "rgz5icb5jdxzmu7r7tbis64q23ioytzd4tqikuyb5kz75w75rbe6veyd.onion:8885",
      "nodePubKey": "02529a91d073dda641565ef7affccf035905f3d8c88191bdea83a35f37ccce5d64",
      "lndPubKeysMap": [
        [
          "BTC",
          "035cb9afb06a83e65fbab15c900d78580673cf56ce38c5814fb71f1eb57fcba7ee"
        ],
        [
          "LTC",
          "036cf16cd7de6193efb2855e784409c3633f893662dd6edcf7a545a99659232373"
        ]
      ],
      "inbound": false,
      "pairsList": [
        "LTC/BTC",
        "ETH/BTC",
      ],
      "opendexdVersion": "1.2.7",
      "secondsConnected": 100,
      "connextAddress": "0xe802431257a1d9366BD5747F0F52bAd25A6C3092"
    }
  ]
}

Your First Trade

Start by depositing some funds into your opendex node:

deposit btc #Send BTC to this address
deposit ltc #Send LTC to this address
deposit eth #Send ETH to this address

The deposit command for BTC & LTC is powered by Boltz. Boltz will automatically open a balanced lightning channel to you, if you don't have a channel yet. This can take several minutes to complete and we'd kindly ask you to wait patiently for your funds to appear in the getbalance overview. If you want to follow what is happening under the hood, you can do so by typing logs boltz. For ETH, currently one still needs to trigger a manual channel creation in a second step after funds were deposited:

openchannel ETH 13.37

Check existing orders for all activated pairs with the command orderbook. It might take several seconds to see orders after opendexd was started due to the decentralized nature of the order exchange. Use orderbook btc/usdt to show the order book for BTC/USDT only:

mainnet > orderbook btc/usdt

Trading pair: BTC/USDT
┌───────────────────────────────────────┬───────────────────────────────────────┐
│ Buy                                   │ Sell                                  │
├───────────────────┬───────────────────┼───────────────────┬───────────────────┤
│ Quantity          │ Price             │ Price             │ Quantity          │
├───────────────────┼───────────────────┼───────────────────┼───────────────────┤
│ 0.28918298        │ 7171.56           │ 7172.253          │ 0.1               │
├───────────────────┼───────────────────┼───────────────────┼───────────────────┤
│ 1                 │ 7171.1937         │ 7172.9757         │ 0.1               │
├───────────────────┼───────────────────┼───────────────────┼───────────────────┤
│ 0.1               │ 7171.083          │ 7316.0663         │ 1                 │
├───────────────────┼───────────────────┼───────────────────┼───────────────────┤
│ 0.1               │ 7170.899          │ 7316.44           │ 0.22393946        │
└───────────────────┴───────────────────┴───────────────────┴───────────────────┘

Use getbalance to check your balance before the swap.

mainnet > getbalance

Balance:
┌──────────┬───────────────┬────────────────────────────┬───────────────────────────────┐
│ Currency │ Total Balance │ Channel Balance (Tradable) │ Wallet Balance (Not Tradable) │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ BTC      │ 6.10944853    │ 2.5                        │ 3.60944853                    │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ USDT     │ 5000          │ 5000                       │ 0                             │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ LTC      │ 21            │ 11                         │ 10                            │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ ETH      │ 500           │ 500                        │ 0                             │
└──────────┴───────────────┴────────────────────────────┴───────────────────────────────┘

Issue a regular limit order with e.g. sell 0.1 btc/usdt 7171 to sell 0.1 btc for a price of 7171 USDT per BTC. If your order was matched, settlement shouldn't take longer than a couple of seconds.

mainnet > sell 0.1 btc/usdt 7171
swapped 0.1 BTC with peer order ca24fe00-1c1e-11ea-8b1b-3b2ec0335696

Use getbalance to check your balance after the swap. You are now owning 0.1 BTC less and 717 USDT more.

mainnet > getbalance

Balance:
┌──────────┬───────────────┬────────────────────────────┬───────────────────────────────┐
│ Currency │ Total Balance │ Channel Balance (Tradable) │ Wallet Balance (Not Tradable) │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ BTC      │ 6.00944842    │ 2.39999989                 │ 3.60944853                    │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ USDT     │ 5717          │ 5717                       │ 0                             │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ LTC      │ 21            │ 11                         │ 10                            │
├──────────┼───────────────┼────────────────────────────┼───────────────────────────────┤
│ ETH      │ 500           │ 500                        │ 0                             │
└──────────┴───────────────┴────────────────────────────┴───────────────────────────────┘

Connect Swap Provider Bot

WIP

Report Issues

Please give us feedback and report bugs by running report from within opendex ctl or our "help" channel on Discord!

References

PreviousPro Hardware Guide Next📈-Day Traders

Last updated 3 years ago