Community Effort to Launch ERC20 MAID

How long would this take to happen if it were a success?

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Like everything in the crypto. - If you do not control the private key you have nothing.

For people who decide to provide ERC20 liquidity will be the biggest risk. For buyers the least risk.

As I explained, every buyer can reduce the risk by making small purchases and exchanging them immediately for OMNI MAID. I personally expect only @DeusNexus and I to provide liquidity in the beginning.

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From RenVM’s GitHub:

darknode-release

Repo for publishing darknode releases before the darknode repo is public

Does it mean, that RenVM is a closed-source project?

Seems like it, at least partially for now

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How can others provide liquidity?

Convert omni maid to erc maid through the gateway Deus is creating and put them into a liquidity pool.

I guess dimitar plans to start one like he did for sec.

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So we just create an ERCMAID <==> ETH liquidity pool in Uniswap?
That has a one-off setup fee. Actually its about seven TX fees rolled up into one to do the various things necessary to set up the pool.
Last time I started a pool it cost us >$120 in fees - Things are cheaper now but last week when I looked at another opportunity liquidity pool setup was going to be ~$50

Thats before you start throwing ERCMAID and ETH actually into the pool.

I wonder how much liquidity we can actually get to. We’ll need a “how to add liquidity for dummies” and spread it around here. The benefit being you get a percentage of the trading fees based off your contribution to the overall liquidity, yes? Would you earn that in ERCMAID or ETH? Can you withdraw your liquidity at any time?

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Dimitar has written a guide for adding liquidity to the sec pool, that could be easily copied and adjusted with the maid contract details.

How much liquidity we could get added ( imo ) really comes down to how much risk ppl are willing to take, which in turn comes down to trusted members here auditing DeusNexus code and making sure its airtight.

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Cool! Thanks for the info @bones

Yes a code review/audit would be a plus but beyond that I’m guessing we might get some people with decent amounts of MAID but we have to match that same value with ETH. So the question will be who has or is willing to put up a decent bag of ETH. If adding tokens has to happen 1:1 ERCMAID:ETH then we might have to have some coordinated private chats.

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The idea to use UniSwap is that we can create a price floor there. But that was an idea when I thought MaidSafe needed such a floor because I thought they were selling the loan on the exchange.

Now I think they have sold everything to our friend the Swiss Banker and I don’t think we need a floor on the price.

:love:

Therefore, I think that the ERC20 token will be more successful in another type of decentralized exchange, where you can specify at what price you want to sell it…

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Okay! That’s interesting. I’d like to hear more of your thoughts regarding this if you have more.

Maybe I’ll put what I have up for sale at $120 per coin muahahaha! If everyone did that then… but first we need working network and demand.

If that sounded too greedy, it’s not all about the money but the money helps drive more innovation. I personally plan to reinvest a decent portion of profit back into network apps/services.

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We’re kind of in the same boat. I’d be willing to give up my MAID for something in that ballpark, haha :smile:

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Its nice to dream, but there’s no real buy action at 0.08 (gbp).
With a live network things should improve somewhat.

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Curious why you would think that.

Well, David said that the banker went to see him … True, they may have had a beer together, but I think people like the banker are practical and I think the probability of him sitting on a few million MAIDs is quite high.

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I know it seems like dreaming but I think anywhere from $85-$120 is fair to speculative. Anything below that is discovery and anything above would have to be massive adoption and speculation I think personally but I also don’t have a crystal ball.

Guess we’ve got two on board for a very high sell wall, haha. If we get there people selling at .12c might feel like chumps.

That’s pretty speculative but I can’t say I would doubt it either.

What is your favorite DEX we could buy and sell on once we have ERC20MAID?

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Well I do not trade and therefore use only UniSwap for buying. But I promised @DeusNexus to do some research. I will make a separate topic about decentralized exchanges so that others who want can participate in the research. :dragon:

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We only need a price floor if the company needs money for salaries…

If you guys can look around what popular DEX’s are around there and easy to list erc20 tokens. Just make a list and we will see what is possible.

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