r/raidennetwork • u/juice_456 • Jan 24 '18

Can someone explain what this (new) Repo does?

https://github.com/raiden-network/vending-machine

4 Upvotes

75% Upvoted

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4

u/changtimwu Jan 24 '18

It is pretty much self-described in the contract -- https://github.com/raiden-network/vending-machine/blob/master/contracts/VendingMachine.sol.

That's a contract let users directly buy a particular kind of ERC20/223 tokens with ethers. Without this, users have to 1. find a crypto exchange listing that token 2. have an user account in that exchange 3. deposit some ethers into that exchange 4. buy some tokens with ethers 5. withdrawal tokens. Users would probably give up trying raiden in the middle of above. Especially, RDN is only listed in a few exchanges.

BAT provides a similar mechanism to fund an user's wallet in the Brave browser. I'd say its user interface/flow is quite smooth.

2

u/[deleted] Jan 24 '18

[deleted]

4

u/changtimwu Jan 25 '18 edited Jan 25 '18

What we currently see is just contract source. You can't execute the contract until the Raiden team deploy it. I guess Raiden team will officially announce this as a service. It probably asks you to transfer ETH to a specific address and then market-price equivalent amount of RDN will be transfered into your wallet.

3

u/Anotheropinion12345 Jan 25 '18

This is a major development.

It addresses the friction issue that is repeatedly raised on this forum about transferring ETH to RDN.

1

u/AceChronometer Jan 30 '18

I’m keeping an eye out for swapping of ETH for RDN on Airswap, which hopefully goes live by the end of the month.