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https://rainbow.me
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Hugo Montenegro
@hm
a friend asked me to onboard him to crypto. I tell him to install rainbow and send him some eth. 20min later he loses $190 bucks by trying to swap eth/bnb (on arbitrum) because of zero liquidity he didn't understand welcome to crypto :/
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Hugo Montenegro
@hm
I recommended rainbow because I thought it was a good beginner-friendly wallet. We still got a long way to go apparently. On the POSITIVE side of things: @rainbowdotme actually paid him $190 back eventually! I'm positively surprised about that level of support, didn't expect it. Mssg here: ``` Our team reviewed and confirmed that the appropriate value was shared at $0 and the market warning was/working as intended. This wasn't a bug on Rainbow's end and the quote was representative of the correct value. The warning itself also displayed: "Market Value Unknown: If you decide to continue, be sure you are satisfied with the quoted amounts." With all that being said, we'd like to extend a refund for this as this token inherently shouldn't have been displayed within Rainbow with those price impacts. That refund will come in the form of USDC. ```
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@chaskin.eth
Did you tell him about the transaction simulation that pops up on the wallet before you click confirm? Feel like it's hard to yolo lose your money like that now a days because you can see 0.05 ETH going out ($100) 0.2 BNB coming in ($98). I just made up that example but you get the point
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Hugo Montenegro
@hm
yeah problem is he was a complete noob user and assumed the interface wouldnt fuck him over. He wanted to swap eth for bnb; he just clicked that and assumed it'd be fine. A few % slippage is fine and within expectations; 99% slippage is not fine at all. End users shouldnt be expected to be technical or taking on that much responsibility, and they shuold be able to trust their apps for them to a reasonable extent
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@chaskin.eth
Got what he deserved trying to swap ETH for BNB 🤷♂️
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Hugo Montenegro
@hm
....fair 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
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