Community donations requested for CEX support/maintenance

Dear community,

In the past few years I’ve been actively contributing to the project by trying to help out with exchanges, and listings in particular. With the Omni project getting less support, the delisting of MAID on Poloniex which resulted in people from the US to lose access, and increasing KYC requirements on Bittrex I decided it was time to start working on a backup plan. Together with @Sotros25 and the Maidsafe team we managed to get ourselves listed on P2PB2B, a non-KYC CEX.

As some of you are probably aware, getting these things done in cooperation with Maidsafe has been increasingly difficult due to regulations in the UK. Exchanges require a certain amount of attention, providing testing tokens for integration, a certain liquidity and volume which often is being managed by a market maker that you need to provide with enough tokens. These are things Maidsafe cannot be involved in, so last year I decided to manage it for them, which cost me thousands if not tens of thousands of dollars. I’ve happily contributed this to the project and it’s community as I was in a comfortable position to do so.

Earlier this year P2PB2B contacted me that they where going to delist omni MAID because the volume had dropped of and liquidity was too low. As some of you may remember, the omni listing did not exactly go smoothly which in my opinion resulted in a lack of trust in P2PB2B from the communities perspective. These led me to a conversation with P2PB2B about a second chance on their platform. I got them to agree to delist omni but to integrate eMAID free of charge. I’ve already provided them with eMAID for testing purposes and we’re now looking into ways to convert the remaining omni maid on their platform to eMAID so users that have not withdrawn their assets won’t lose access to it but receive the eMAID equivalent instead. However, their policy does not allow them to sent out the omni maid before they’ve received the eMAID equivalent. As some of you might be aware, omni maid has to be burned in order to mint eMAID which makes this process a bit tricky.

Last year I started my own company which required a huge investment from my part, additionally, I’ve been working for free for the last year. This, in combination with the out of pocket costs I had maintaining the exchanges, resulted in me burning through my holdings at a rapid pace. I’m not longer in a position where I can upfront the 76k MAID required to make the swap with P2PB2B, or where I can continue to pay for transaction cost/testing tokens/marketmaking myself. and even if I had, I think that it’s unhealthy for an individual to carry this burden. I’ve already spoken with the Maidsafe team and some community members and mentioned that if someone doesn’t step up soon, P2PB2B will simply delist omni MAID without the eMAID listing resulting in people losing access to their funds if they’ve failed to withdraw from P2PB2B’s platform in time. Given our history with exchanges, I will do everything in my power to prevent this from happening, but I’m now turning to the community to help me support exchange requests.

I’m sure most of you are already aware of the importance of accessibility of our token on multiple exchanges but I would like to emphasize that P2PB2B is an important player here, even though not the triple A exchange we’re hoping for. With it’s low trading fee (0.2% instead of Bittrex’s 0.75%), accessibility to the US market and being non-KYC it does a lot of things right when it comes to things our community values. Additionally, P2PB2B has been great when it comes to communication as I’m in touch with them on a daily basis and they’re willing to look for options to make sure that omni MAID/eMAID do not lose access to CEX’s as there are signs of a potential Bittrex delisting too. Last but not least, I know some if not most of you here are against CEX’s and all for DEX’s. Even though I see where you are coming from, DEX’s do have their flaws in terms of liquidity providing, accessibility for less wealthy people or people less familiar with the crypto space. I see hard work is being put into DEX listings and providing liquidity to the pools and I can’t emphasize enough how much it’s appreciated. The work those guys put in to make that happen allows me to fully focus on CEX listings & maintaining them, which could eventually lead to higher tiered listings if done right.

I’m turning to the community for support in my journey of supporting CEX’s and P2PB2B’s transition from omni to eMAID in particular. If you’re in a situation where you can and are willing to contribute I’ve opened up 2 donations addresses:

BTC / omni MAID: 37MprQu4rbdfwPHmx2pwyn2emJyNMazmQA
ETH / eMAID: 0xcCAA2B9492c9Dde2734e02eCD7569F2f1093D433

I hope to see enough donations to at least make the omni/eMAID swap happen and cover some of my out of pocket. Rest assured that any donation made will be 100% used for eMAID adoption on exchanges (and omni maid yto some extent if required) and maintaining these listings. I will continue to invest my time and money (where I can) to help progress the project as I, like all of you, have the project best interest at heart.

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Thank you for all the hard work you’ve been putting into this, @Mightyfool! I know how much you’ve poured of your own time, sweat, and funds into supporting this project. I sincerely hope that we’ll see the community rally to support keeping MAID listed.

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@Mightyfool
Just my 2 cents for donating less than 2 cents

MAID would be more fun for many on Stellar and www.stellarx.com :sweat_smile:

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Disclaimer From the Forum Team: please do a research on the risks of centralized exchanges. You can see a brief history of the community’s experience with them here. You can see a decentralized alternative exchange here

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Thanks for the contribution, really appreciate it!

I’m personally not familiar with StellarX, giving it a quick look makes it look like integration there is more familiar with DEX’s than a CEX. I will look into it more today, but I think there are far more sophisticated people here on the forum when it comes to asset integration on platforms like these.

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Maidsafe trading is now disabled on P2PB2B in preparation for the upcoming eMAID listing. Users that had MAID on their platform after the withdrawal deadline will receive the eMAID equivalent back. Thanks to the contributors making this possible. I’m hoping to see more people, especially those who value CEX accessibility, donate to make sure we can continue to work with exchanges and truly make our token accessible for everyone. Right now we’re counting on very few individuals within our community carrying the burden for everyone, it would be great (and fair) to see this become a community effort.

Over the next few weeks I will be working with P2PB2B to make sure there will be liquidity and volume on the pairs as this is required for API enabling which sites like Coingecko and Coinmarketcap use. Once live, I will ask P2PB2B to notify these trackers of the new pair and we they should appear within a few days. I cannot emphasise the importance of liquidity and volume enough. Not only does it help users unfamiliar with P2PB2B to quickly make a trade and secure there funds by withdrawing, it also helps when it comes to discussing a potential listing on higher tiered exchanges. There are currently ongoing talks to lower eMAID’s withdrawal fee but I can’t make any promises on this yet.

After reading back my own topic I do feel it’s important to note that Maidsafe has not asked me, or any community member involved to initiate this initiative. Maidsafe has always mentioned they cannot and do not want to be involved in any activities that may jeopardise the long term health of the project with their involvement. Setting up these donation addresses is my own initiative after extensive talks with @Sotros25 about how we should manage the exchanges going forward. We (community) can now contribute to the project without any limitations. This is, in my opinion, extremely valuable.

Once again, if you value / use CEX’s, please consider donating and don’t just leave this burden to the same whales within our community over and over. There are ongoing costs, risks & time investments required to have a healthy relationship with these exchanges which will be vital for future listings.

BTC / omni MAID: 37MprQu4rbdfwPHmx2pwyn2emJyNMazmQA
ETH / eMAID: 0xcCAA2B9492c9Dde2734e02eCD7569F2f1093D433

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I’m very happy to inform everyone that eMAID trading is now live on P2PB2B: EMAID\BTC | Trade EMAID to BTC on cryptocurrency exchange P2PB2B

A big shoutout to everyone that contributed making this possible.

A quick highlight of what happend and what’s next. All remaining omni MAID on P2PB2B have been converted to eMAID, users that had omni maid on P2PB2B should now have the eMAID equivelant in their account. The withdrawal fee is set in USDT (their platform standard) and requires $20. Personally I feel this is on the high end of what exchanges charge, but given the fact that Kraken charges the same amount I decided to leave it for now. Rest assured though, I’m in constant touch with P2PB2B, if I see an opportunity to have this lowered I will get it done. Please do keep in mind that P2PB2B has a 0.2% trading fee (compared to 0.75% on Bittrex), this adds up real quick.

Next up I will be informing tracker website so the trading pairs will show up on websites like CoinMarketCap (I’ll make sure Uniswap will be tracked too). In order to keep the API active, which these trackers use, I will be filling up the order book from time to time and make sure we have the minimum volume required. For now I don’t have the assets to fill both BTC/ETH and USDT trading pairs so ETH and USDT pairs have been disabled, I can have these enabled if enough donations / traders on P2PB2B come in, so please consider contributing in some way.

Once again, thank you all who contributed so far, this could not have happend without you.

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