I think it would be good for this community to embrace a DEX. Similar values and all. There are various of them. Maybe some list MAID already, or would if asked…?
We were on OpenLedger but liquidity was not the greatest.
I know the Waves Gateway concept could be a little clunky but so is an ERC20 transition.
With this your omni tokens are “securely” waiting for you once you are done trading the WMAID on the DEX.
liquidity can improve when popular centralized options are no longer available, but still demand. I don’t really trade myself, but I’d suggest interested parties conduct a bit of a review of DEX options, choose one, and together try to get some momentum going there.
There are many disadvantages. Both people must be online to make a trade if I remember correctly. Transactions are expensive. The UI platform itself is difficult to use…
It’s important for us to evaluate the dex options available. To do that the topic would at a minimum need to be updated with a list of the options that exist. Would you be willing to do that @Josh?
I suggest that we go through a process with phases similar to:
Compile list of dex suggestions
Collect the important facts of each dex
Narrow list of dexs
Try out remaining candidates
Identify suitable options
By qualifying dex(s) we would answer an important question and potentially further inform the discussion of adding an ERC20 counterpart to the OMNI MAID token.
Would be possible to also create a wiki for centralised exchanges which MAID could be listed on. It would also be good if there where some criterias for posting, for example DEX: mention daily volume (fake volume excluded if possible), listing criteria, only ERC20 or not.
For example centralised exchanges: normalised daily volume (fake volume excluded), listing criteria, US customers or not.
An important trend in decentralised exchanges is staking coins for trading right from your hardware wallet without requiring trust in an intermediary to hold your private keys. Two major DEXs in this new highest ease of use, privacy and security frontier are Deversifi (allegedly $USD 200-500 million/daily volume) and Binance DEX (allegedly $USD 800 million/daily). Community run Kleros can be used by anyone to get listed on Deversifi and a few other exchanges. Only problem is the typical “ERC-20 only” warning you get on most DEXs these days however.
I don’t think people realize how messy and how complicated swaps can be. Especially a partial swap! The idea of having an omni token and an ERC token at the same time with out any way of doing arbitrage… there will be price divergence… It will be better just to create a native bridge for maid once the token is live
RenVM is a Smartcontract with Zero Knowledge technology running on the Ethereum Blockchain. It generates a BTC (or BCH/ZEC) privatekey, create a public address to deposit BTC, create a trustless bridge to Ethereum and mint renBTC ERC20 tokens. In this PoC you can exchange BTC for ERC20 SAI: https://chaosdex.renproject.io/
Next to the advantage to have a MAID ERC20 token on the Ethereum blockchain, this technology can be used to create a trustless bridge between MAID and Safecoin when Safenetwork goes life. This also solves the liquidity (and centralized exchange) problem with Safecoin in the future, like we now have with MAID.
