[bisq-network/bisq] Monero to fiat trades using BTC as the multi-sig (#5285)

pazza notifications at github.com
Mon Mar 8 03:38:50 CET 2021


XMR/BTC is the most liquid market on Bisq and generates most of the revenues.

XMR/Fiat would be popular and is commonly asked about for example: this [Reddit post](https://reddit.com/r/bisq/comments/lzmc64/why_cant_we_buy_monero_directly_with_fiat/)

On Monero communities people are also frequently asking about how to buy XMR using fiat and get referred to a centralized exchange such as [Kraken](https://www.kraken.com/en-gb/learn/buy-monero-xmr) or to a P2P marketplace such as [Local Monero](https://localmonero.co)

Bisq is developed so that BTC needs to be one of the trading pairs. There seems to have been some discussion about adding XMR as a trading pair but whilst their was general agreement that this would be good, the resources needed to develop it made it low on list of priorities.

## Idea

My idea is to do a half way house to see how popular XMR/Fiat would be.

Take the most 2 liquid markets for fiat in Bisq USD and EUR and give them XMR/USD and XMR/EUR pairs respectively.

BTC can still be used in the multisig. 

Sellers of XMR would deposit 115% BTC to cover trade amount and security deposit. When trade complete seller would receive their full security deposit back.

Buyers of XMR would deposit 15% BTC to cover security deposit. When trade complete buyer would receive their full security deposit back.

## Benefits

The benefits to trading XMR/fiat could be as follows:

- Introduces a new revenue source for Bisq, traders that would otherwise utalize the above two platforms or similar. 
- Allow Bisq to experiment with XMR/USD and XMR/EUR pairs with reduced dev resources.
- If they proved popular then the above could potentially be developed to provide XMR as a base pair.

Let me know your thoughts.






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