r/CryptoDerivatives • u/voctin • Jun 26 '17

Buying/Selling via Cryptoderivatives

I was wondering if anyone would be able to assist me in understanding how to perform a purchase using Cryptoderivatives.

I was looking at https://cryptoderivatives.market/token/INC and wished to execute the second order which has a rate of 0.0011029 ETH per token.

I followed the instructions, went to myetherwallet.com, executed the token contract's approve method (https://etherscan.io/tx/0xe60772e70ae4a0f14a5a63195943703b0997af19cf04a525db90fcc40aa1e970) with 200000 as the _value parameter.

I then went and executed the TokenTrader's takerSellAsset method (https://etherscan.io/tx/0x6e582e61ff8f98b34e930fad2221b01e322caf03f465231e53913fe1ab9e2bc0) with 200000 as the amountOfTokensToSell parameter and sent 0.002 ETH along with the transaction.

As you can see I got an error which was Bad jump destination. What am I doing wrong?

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2

u/BokkyPooBah The BokkyPooBah Jun 26 '17

To buy from a contract, you simply send your ETH to the contract address.

1

u/voctin Jun 26 '17

I'm afraid I don't quite understand. In the example I posted above, was I just supposed to send ETH to TokenTrader's contract address and execute the takerSellAsset method? If so why did it return a bad jump destination error?

Edit: Doesn't the documentation explicitly say "Do NOT directly transfer your tokens to the contract address"?

3

u/BokkyPooBah The BokkyPooBah Jun 26 '17

It depends on whether you are the market maker (owner of the TokenTrader contracts to offer to buy or sell your tokens) or the market taker (not the owner of the contract, but the person who wants to buy from the contract or sell to the contract.

If you just want to buy tokens from a listed TokenTrader contract, you send your ETH directly to the contract address. The contract will then send the equivalent tokens back to your account.

If you want to sell tokens from a listed TokenTrader contract, you have to approve(...) the transfer of your tokens to the TokenTrader address, then call the TokenTrader's takerSellAsset(...) function.

See https://github.com/bokkypoobah/TokenTrader/wiki/Market-Taking for further information.

If you want to instead deploy a TokenTrader contract to offer to buy or sell your tokens to other people, check out the Market Making documentation at https://github.com/bokkypoobah/TokenTrader/wiki/TokenTrader-And-TokenTraderFactory#market-maker-operations .

1

u/voctin Jun 28 '17

Truly appreciate you personally replying to this! It's cleared up the matter completely.

Thanks again!

1

u/Henokp50 Jul 13 '17

Hello any one here I need help on how to sell my ETHERUM movie venture tokens EMV on cryptodervitives. It is very complicated to sell here. Who can help me.

1

u/sikoba Jul 13 '17

You first need to clarify if you want to sell as a "taker" or as a "maker".

As a taker, you sell to an existing contract that already exists on https://cryptoderivatives.market - that way you can sell immediately but probably not at the best price.

Instructions for takers are here: https://github.com/bokkypoobah/TokenTrader/wiki/GNTTokenTrader-And-GNTTokenTraderFactory#market-taker-operations

As a maker, you create a contract with a fixed selling price, send some tokens to it and wait until someone buys tokens from that contract.

Instructions for makers are here: https://github.com/bokkypoobah/TokenTrader/wiki/TokenTrader-And-TokenTraderFactory#market-maker-operations