Textile FX

Meet Textile FX. Instant, record rates, permissionless. Onchain, non-custodial. First corridor live: cNGN ⇄ USDT. Nigerian market, want the cheapest way on and off USD? DM us. The full story of our shift will be told another day. Onwards and upwards. app.textilecredit.com

$68k moved across the network today. third-biggest day yet, and it pushed all-time volume past $900k. over on ethereum, one wallet swept 20+ orders. $1M is in sight. the weave is getting tighter.

$TEXT may have future value. no promise, no preclusion.start stacking → app.textilecredit.com/points the weave remembers who showed up early.

here's the part that matters: the daily pool is fixed. no new points are ever minted, they're split among whoever showed up that day.fewer people, bigger slices. and points accumulate forever, no resets. early is worth more.

introducing $TEXT Points. every day, textile emits a fixed pool of points. you earn a slice of it by how much of the network's activity is yours.three ways in: trade, make, refer.

@J14Josh but really - if you have a need for Textile to get cNGN on @base - we would make sure to get it for you, our DM is open

@Textileprotocol 😂 oboy see pressure. Alright, thanks for the feedback, I really appreciate it.🙏🏿

@J14Josh and cNGN on Texilte is doing in a day what it's doing in a month on base :) no offence to base ;)

@Textileprotocol cNGN on Base has more transaction volumes than any other chains on most DEX platform, so I was surprised to see it absent on textile

@J14Josh we had liquidity there initially but the traders asked us to move it to BSC, and we didn't want to run on thin liquidity on 2 chains. if you have an actual need of cNGN liquidity on BASE DM me we will make sure your guys talk to my guys

@J14Josh when the people ask for it - you need? i know a guy who knows a guy who can get you some

@Textileprotocol When liquidity on Base swaps

@MattFiebach you'll never get a date building RFQ

It’s impressive that our industry has twice now taken the simple concept of RFQ and turned it into overly complicated tech jargon. First intents then prop AMM.

@CoinbaseDuck you must be fun at parties

Crypto stuffs that Robinhood chain and base will both learn in the next 12 months or so. Robinhood chain - new chain steals the spotlight, but it fades quickly after Robinhood users get very bad experience trading these meme coins. Statistics has shown, these games are massive extraction in the long term. - if volumes are coming solely from PvP meme coin, their real exchange users are the only losers therefore impacting their core business and trust over time. Base - been there, done that with non productive memecoin trading, team attention will finally be spent toward sustainable crypto use case. - not all builders are worth supporting, many will leave for Robinhood chain if not already moved, and eventually they will move onto the next chain. - steering user towards positive sum crypto use case, liquidity, users/customers are your best moat.

@econoar that's what started the war in the middle east

ETH tried to break up and everything nuked 😭

😎 when a protocol is spiritually awakening

10 hours, 58 minutes.that's the wait for a stranger to "prove" they sent your money on p2p. real screenshot, why are you still waiting annon? on textile there's no counterparty to prove anything. the swap is atomic, one transaction, both sides or neither. instant. oh and our rates? just check it out

hot take: onchain FX built on AMMs was always going to fail.a bonding curve exists to discover a price. FX already has one, so the curve adds nothing but slippage, on a spread that's razor thin to begin with. FX doesn't need a curve that guesses. it needs a book that carries the price.

It has been hard for non-USD stablecoins to reach meaningful scale. Here's what I think the issue is...

the missing piece is an efficient way to convert local stablecoins ↔ USD stablecoins. onchain market making was built for price discovery: finding the price of assets nobody knows the price of yet. FX is the inverse. the price is already known, the spread is razor thin. a curve built to discover price just adds slippage that eats the whole margin. FX doesn't need discovery. it needs a book that carries the price.