Shibnobi AMA Meeting with CEO Cliff Fettner 10/11/2022

Shibnobi AMA Meeting with CEO Cliff Fettner 10/11/2022


-SHIBNOBI BRIDGE: Bi-directional trading for BTC is now supported on Shibnobi Bridge! Again, users must ensure that they have a Bitcoin-compatible wallet address to send their funds to / from when trading with BTC.
Other Coin → BTC:
  1. Connect your wallet
  2. Select the coin that you’d like to trade for BTC
  3. Choose the amount to bridge
  4. Set and save your BTC receiving address
  5. Select “Bridge” to initiate the transaction
BTC → Other Coin:
 1. Connect your wallet
 2. Select the coin that you’d like to receive
 3. Choose the amount to bridge
4. Set and save your receiving address (manually or with the “Get From Wallet”        button)
 5. Select “Bridge BTC”
 6. Scan QR Code or copy the address of the mediator wallet for the transaction
 7. Send BTC (amount must be between the min / max shown during the step above!)
Please note that, because of the nature of the Bitcoin blockchain, transactions involving BTC can take anywhere from a few minutes to almost an hour.

Open-Floor Q&A

Q: What are the fees associated with using Shibnobi Bridge?
A: 1% of all transactions goes towards development.

Q: Are the BTC mediator addresses controlled by the Shibnobi team?
A: Yes, and each address will be specifically tied to each transaction and order number, ensuring that any issues can be easily rectified by the team.

Q: If a user does happen to accidentally send more than the maximum allowable amount during a BTC transaction, are those funds retrievable?
A: Yes, the team can manually investigate and retrieve the funds, but it will take time to do so.

Q: Is it possible to increase the limits per transaction on the Bridge?
A: Each pool is funded by Shibnobi, so the current limits are set relatively low per transaction so that one trade doesn’t drain the entire pool. As we continue to grow, and receive more usage on the Bridge, the limits will be increased.