Post
Topic
Board Exchanges
Merits 1 from 1 user
Re: VigorSwap - Privacy focused instant crypto exchange - Furthering self-custody
by
VigorSwapExchange
on 07/11/2024, 08:01:54 UTC
⭐ Merited by Darker45 (1)
Having a new privacy-centered exchange is always a welcome development in a market dominated by players strictly compliant with tight KYC policies. But I'm curious, your "jurisdiction does not require us to collect KYC or AML for exchanges"? Where are you registered, by the way? Is there still a place on earth that doesn't require it? What happens if one day your jurisdiction orders you to implement KYC?

Are you sure you're the "first ever open source non custodial protocol to exchange Monero to Bitcoin"? Unstoppable Swap, for example, is also open-source and non-custodial.
Our company is officially registered in Belize similarly to other privacy exchanges, although this is just for the legal requirement and we do not physically operate our servers there, In the event that the climate in Belize becomes unfavorable to non KYC exchanges, we can relocate our company & register to another jurisdiction, without the fears of our servers being seized and so on, as they are not based where we are registered.

As for our upcoming protocol similarities to Unstoppable swap, the difference is our protocol will not be limited to BTC-XMR swaps, and can use liquidity from other non custodial exchange protocols and liquidity pools, and offer the ability to exchange to multiple networks (BTC, Ethereum, Litecoin, BCH,  Arbitrum, BSC, so on) & thousands of tokens on these networks. No download is required to use like Unstoppable (which makes it hard for new users to adopt it). The execution & transcribing of transactions takes place on the blockchain, and users exchanges are validated & pushed through JavaScript locally in browser.

Unstoppable would be beneficial to our protocol vice-versa, as there liquidity could become part of our non custodial pool for Monero.