Why is the price of my token wrong on Ox Protocol than everywhere else?

Question

maybe you can help me. If this is not the correct avenue for customer service please direct me to the correct place.

I made a conversion within Coinbase Wallet and there is an error. Their customer service has explained to me that the error is actually with the exchange rate from Ox Protocol.

Transaction Hash:

0x164a35251c3ba060bf3afcaedd673c38381b203d300c9901d74185b0406f3dee

On 5/2/2022, I attempted to convert PYR (in my own Coinbase wallet) to USDC coin (in my Coinbase wallet). The amount was 243.50 PYR (roughly $2250 at the time). The transaction was completed. However, I only received $2 of the $2250.

The system miscalculated the conversion severely wrong, using the wrong price for PYR.

The correct conversion should have been roughly:

243 PYR x $9.25 each =$2247 (i understand that it won’t be exactly these numbers depending on the variables.)

The incorrect conversion that did happen on Coinbase:

243PYR x $0.00001 each token = $2.43

This weird transaction has cost me over $2000 and I believe it to be an error completely out of my control. I hope this issue can be resolved.

Answer 1

Thank you for your patience while we investigated what occurred in this trade. PYR is not traded on any mainnet DEXs, so the trade was filled via a limit order. Unfortunately, at this instance, there was an open limit order at the rate you received which was the “best” price.

You can see the Exchange options available for PYR here in CoinGecko (note there are no Dex options on mainnet).

You can check the full details on the trade route here, specifically note the LimitOrderFilled function in line 33 of Emitted Events, and the values in “Token transfers” section.

In this case, the api logic functioned as expected, unfortunately, we understand not financially favorably. We would recommend reaching out to Coinbase about ways to improve their UI/UX, possibly adding warnings when such a drastic trade is about to be executed.