The idea of Cashflow is pretty simple (Allow every SAFE token to pay for every SAFE Network service). For example with our ad platform, besides our Plimst token we would also accept other SAFE tokens.
What this does is eliminate the use of an exchange, turn every service/user in an hedge fund and indicate services which tokens are used more. Exchanges take time/money, hedge fund waste time/money (money that could be used if it was in circulation). The more widespread a token is the more usable/valuable it becomes and honestly it doesn’t matter if you paid $1 with SAFEcoin, Clike, SAFE FS or Seeds. Fragmenting value will also take away the users attention from looking at the prices of tokens to what really matter, enjoying services on the SAFE Network and explore. Unfortunately every fun idea also comes with it’s implementation issues, because it would also help if you could send $1 consisting of $0,25 SAFEcoin, $0,25 Clike, $0,25 SAFE FS and $0,25 Seeds, but how do you do it? If you know how to solve this through code on the SAFE Network, I have a bounty of 1000 euro’s
This conversation started here, but we’ve hijacked that topic long enough.
I’ve followed the Bancor exchange for these last couple of months and it reflected the current market valuation as close as possible. But to be honest the market will follow whatever value the Bancor smartcontract sets or adjust it for example:
If you can buy BNT for $2.10 on other exchanges and it costs $1.90 on the Bancor smartcontract. You buy it on the Bancor smartcontract, which will make the valuation go up a small % and sell it on the other exchanges and the other way around, so the price always adjust. So price discovery is not a problem, but what it means is that we need an smartcontract exchange.
The best place would be if they can fetch it from a smartcontract similar to Bancor on the SAFE Network, this way we don’t need an oracle to fetch data from the clearnet. The market will follow whatever price is set on the SAFE Network or set it accordingly.
Bancor works like this for the people who don’t know. You send it tokens and it sends you back BNT, you send it BNT and it sends you back the token in it’s reserve. Maybe our smartcontract exchange needs to work like this, you send it tokens and it sends a stablecoin to the service. This would still allow every token to be send in and output the price that Bob asks for an item.
The other option is that you can send every SAFE token to Bob’s wallet and the token value adjust in his wallet, but the price he asked for was paid. This option would diversify his portfolio and spread coins across services on the SAFE Network, but not everybody might see this as a win.
How to implement this gets way over my head, but there are a few places to look for a stablecoin.