Hey there. Love Osmosis.
The slippage settings are always my main frustration.
-First, it always comes back to 1% even when you use a custom slippage. Could a cookie solve that to remember your setting?
-Second, most modern dexes have an auto slippage setting that adjusts according to the pool you’re trading into. Why not implement that?
-Third, even when I adjust my slippage to the price impact of the pool (slightly above ofc), it often fails (with a very unclear error message) and I have to adjust to higher slippage.
One question though : are there mev bots on osmosis? I took the habit of always adjusting my slippage because of MEV bots on ethereum, but maybe it’s not that important here? Well anyway at some point there probably will be MEV bots so it should be adressed.
Overall I lose a bit too much of my money trading on osmosis, between slippage, token prices that are not aligned to the market, and the ~1% trading fee. I will still use Osmosis but I must say it’s quite a problem and I have to mention it when I talk about Osmo to EVM friends.
Thanks for your message!
I don’t know about the slippage (I guess my trades are never big enough ), so I’ll leave that part for others.
Regarding the MEV, yes. That has been integrated in the chain itself by ProtoRev. So that part should (nearly) be tackled natively by the chain itself.
Also, where did you experience the 1% trading fee? In general it should be lower consisting of the swap fee (max 0.3%), the taker fee (0.1%) and the transaction fee (negligible). So the 1% seems only applicable for big trades or illiquid trade pairs.
I don’t have that much size either haha.
Let’s just take that screenshot I just took as example
For a measly 25$ swap
-price impact 0.36% (for 25$ that seems pretty excessive already)
-trade fee 0.75%.
From my experience the trade fee CAN go as low as 0.3% in a few instances, but I’ve seen it as high as 0.89%. Average would be around 0.5 - 0.6 I would say (just from memory).
You’re saying Protorev has a MEV bot? Like, a sandwich attack MEV bot that steals from your trades?
Maybe you’re talking about something different than what I have in mind. On ETH your trades can be frontrun by MEV bots and you’d lose money from that. I’m not very familiar with all that, but I’ve heard about it and I’m pretty paranoid about slippage now ^^
I see your swapfee is indeed 0.748% which is caused by the fact that you are going thorugh multiple pools.
Regarding ProtoRev, as far as I am aware it automatically balances the arbitrage opportunities as soon as they are showing on the platform. The result should be that you are not losing money, but will just get what is shown on your screen
Good to know then!
Indeed, almost every swap I do goes through multiple pools. Unless you keep most of your value in osmo, I think it’s often the case.
In the past we had the multi-hop discount, but that is not around anymore.
There have been talks about alternatives plus the knowledge that when concentrated liquidity achieves more maturity the experienced swap fee per pool should also go down.