After using the Near Intents app, I can confidently say this is the best ZEC swap experience I’ve had. However, I remain curious about how you can guarantee ZEC deposits after only one confirmation. Could this pose a problem in the future?
Edit: I understand that agents take on finality risks, but is 1-block confirmation really safe for the long term? Notwithstanding the fact that the biggest Zcash mining pool has more than 50% of hashrate, for more than a year now. Source: Zcash (ZEC) Equihash | Mining Pools
I just heard back from the NEAR team, and they confirmed that there was an issue with the Zcash block provider, which has now been resolved. Let me know if you run into this problem again in the future.
Yes, that is on the roadmap absolutely. We do plan to roll out both community-sourced liquidity which can essentially be in the form of pools as well as affiliate fees for distributon channels and frontends.
I deposited ZEC to the specified address now 40 minutes ago and it has yet to be received to swap through the Intents UI. I checked the deposit address in a block explorer and the deposit was received after only some minutes.
Zec hasn’t been available there for a long time.
ECC isn’t providing any support, although it would be better if they spread the coins across dex pools rather than wasting them on random nonsense.
Besides something’s broken, since zec coin isn’t showing its MARKET CAP or Price, unlike other coins. (nearblocks .io /token/zec.omft.near)
I guess it’s good enough for three people
If infos there are accurate (can’t confirm) it’s been quite a while that ZEC withdrawals are disabled at Binance due to a low hot wallet balance.
So maybe that explains the liquidity crunch.
Funny reason. Mr. Zhao withdrew all Next coins to Gemini?
Who has a zec on Binance? Is the withdrawal really blocked? From which address does Binance pay, what is the balance?
It always take them an extremely weird long time to replenish their ZEC hot wallet, probably too busy preparing the listing of their future gems, be it banana or potato coin.
The liquidity is changing all the time tho. But usually its quite liquid for small to medium swaps.
Swapping 0.5 BTC in one swap i would consider big swap and for example atm is not the best move as there seems to be some 7% difference in price for that big swap but it shows its possible.
I’m a bit skittish depositing Zec onto a DeFi platform, but will probably test it out with a small amount. Has anyone had expirience with Rhea finance before?
It’s so exciting to see more DeFi rails appearing for Zcash!
Not an endorsement for Rhea, do your own rhea-search, but here’s how to play with it (cumbersome but the only path I’ve found that works so far):
tl;dr - Rhea does not let you directly deposit ZEC anywhere that I could find. You must deposit wrapped ZEC on the NEAR network elsewhere on NEAR, then you will see it in Rhea.
Go to NEAR Intents, create a wallet (MyNearWallet is fully in-browser and works, not the most secure, but fine for testing with small amounts)
Deposit ZEC into your NEAR wallet by clicking “Account” then “Deposit” then selecting “ZEC” - send your funds into the transparent address that is provided. (shoutout to T-addresses, getting us in the door with many integrators using off-the-shelf BTC RPC code… shield yourself elsewhere and enjoy our new rails)
The Weird Part: You will need to withdraw ZEC into your NEAR address in order to get it to show up on Rhea. In NEAR Intents, go to “Withdraw” and select “ZEC” - but you must sellect the “NEAR” network for the withdrawal. This is a wrapped ZEC on the NEAR network. Withdraw this wrapped ZEC into your NEAR address (you can find it in the top right of your screen, or in MyNearWallet)
Go to Rhea Finance (see aquietinvestor’s link above), log in using your NEAR wallet. Click “Markets”, scroll down to Zcash, click it.
You should see a ZEC balance that you can use on Rhea.
Here’s to this process getting much simpler in the months ahead. Hopefully! And again, this is not an endorsement of NEAR or Rhea. Don’t use anything this new if you’re not an expert. Don’t put in ZEC that you can’t afford to lose. But wow, there’s some juicy APY for ZEC LPs right now.
