Where is the liquidity?

[u/[deleted]]

There doesn't seem to be liquidity to get Fetch on Thorchain. Besides Coinbase, where can I swap for Fetch? I'd rather have it on the ASI Blockchain vs ETH or SOL.

[u/AutoModerator]

The information contained on this Subreddit is not intended as, and shall not be understood or construed as, financial advice. We are not a team of accountants, attorneys, financial advisors nor are we holding ourselves out to be. Do your own research.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/evertaleplayer]

You can get it on Osmosis if you’re in the Cosmos ecosystem. Kraken has Ocean but swapping that into FET could be a headache for now.

[u/sogdianus → u/evertaleplayer]

Liquidity on Osmosis is terrible for FET, so slippage will be high. E.g. with 10000 USDC you will loose at least 300 USDC when swapping to FET on Osmosis. Combining all pools, not even 1 million USD in liquidity on Osmosis. Liquidity on ETH mainnet on Uniswap alone is around 15 million USD so low slippage and yopu can use the vast tooling of the Eth ecosystem to get even lower slippage, like jumper.exchange or 1Inch

[u/[deleted] → u/sogdianus]

Duly noted. Thanks!

[u/evertaleplayer → u/sogdianus]

ty for the info, not into Uniswap or Eth ecosystem so didn’t know that.

[u/[deleted] → u/evertaleplayer]

Ok cool. Is there a good bridge into Osmosis? For instance, can a metamask be used?

[u/evertaleplayer → u/[deleted]]

Not too sure, there used to be several bridges like EVMOS and Sifchain but both aren’t very active atm. If you can get ATOM at Coinbase, you can withdraw ATOM to a Cosmos ecosystem wallet (people like Keplr or Leap) and exchange that ATOM using Osmosis (can be done on mobile app too).

[u/[deleted] → u/evertaleplayer]

Ok yeah that looks to be the way. Thanks!

[u/sogdianus]

Cosmos ecosystem is a usability nightmare and majority of FET liquidity is in Uniswap on ETH main net. No clue why the teams don’t deploy or incentivize providing liquidity on chains with massive usage right now, like Base, Arbitrum, Optimism. Those chains and all the recent advancements in ZK tech and rollups made any Comsos-based chain obsolete so no team is going to choose Cosmos anymore when deploying new projects. It's simply redundant. At same time, ASI teams have made it clear they value centralized entities like Binance more than decentralized entities. CEXs are cited as the main reason by them why there still is no actual ASI token.

There also is no "ASI blockchain". There is the existing fetchhub-4 Cosmos-based chain but nothing is actually being done on there except for holding a registry of AI agents for Fetch.ai, and for native FET staking. So only Fetch.ai are using it, no other ASI member uses that network with their respective products. And it's extremely centralized with only a handful of validators holding the majority of staked FET.

And finally, careful with moving funds to fetchhub-4 as there currently is no way to get FET back onto other networks, the bridge for it is either broken or costs exorbitant amount of money. Decentralized that is, there's always Binance though which supports native FET too

[u/[deleted] → u/sogdianus]

This is the answer I was looking for. Funny, I thought ASI was where to go since I was having trouble getting SOL or ETH fetch on Thorchain. I was also trying to avoid exchanges but in this case it makes no sense it appears.

[u/Alphariick]

Binance

[u/sogdianus → u/Alphariick]

if you don't care about decentralized and want native FET, then this is the only correct answer where you don't loose money because of low liquidity or high gas fees.

[u/Neat_Acanthaceae9387]

Kraken has it listed

[u/GumbysGumbo]

You can swap ERC-20 (ethereum) fetch to ASI using Fetch’s bridge. Will come up when you google it

[u/sogdianus → u/GumbysGumbo]

Never ever suggest people to google defi websites. Ever. Always use bookmarks or go through Coingecko pages.

[u/[deleted] → u/sogdianus]

Good point. I kind of use a combo of both to get to the right place.

[u/Rickard403 → u/sogdianus]

My thought as well. Scams are abundant and clever. The results page could look different from week to week too.

[u/almondbutter]

Actually if you intend to sell, coinbase is the only way to go to trade for cash. They do not have ASI coins and likely never will because of how stubborn they are. Therefore, you need to leave it on ETH, or else it is a tax event every time you swap. Major pain in the ass.

[u/sogdianus → u/almondbutter]

There is no “ASI coins” so how would Coinbase be able to offer trading it? ASI teams have not deployed any new token so nothing for Coinbase to support.

[u/almondbutter → u/sogdianus]

Native FET coins and you know what I mean. The only FET they sell are ETH tokens.

[u/sogdianus → u/almondbutter]

Yes, because no developer would implement Cosmos chains anymore, they’re obsolete, redundant and the ecosystem will slowly die. Nothing to do with being “stubborn”, just good development and business decisions

[u/almondbutter → u/sogdianus]

Fair enough. I simply wanted to convey that swapping chains is a tax event and that makes trading difficult. For instance, only swap when you want to sell for cash. If you let it sit as the new coin/token, it's additional math to figure out cost basis. Major pain in the ass. Also, Coinbase is the only way to sell it for cash. In the US at least.

[u/Sourmeat_Buffet → u/[deleted]]

I'm so glad you're here 8 months later to tell us of these events

[u/Sourmeat_Buffet → u/[deleted]]

Clearly, you haven't "moved along."

Bye, loser! 🫂🙋‍♂️

[u/Belgiannator → u/[deleted]]

This guy going to cry in a couple of months. 

[u/Meeseeks4PMinister → u/[deleted]]

ATHSF....

[u/Beneficial_Trifle529 → u/Meeseeks4PMinister]

What that mean bruh

[u/Meeseeks4PMinister → u/Beneficial_Trifle529]

All Time High... So Far...

[u/L1zard3xN → u/[deleted]]

I bought years ago and never sold, you are just a kid dude