MAID Relisted on ChainRift (Exchange Shutting Down)

BloclDx has almost no activity and Bisq, of which I am a user, is not a exchange that can replace a traditional one. It could be, in any case, a complement.

And it is to repeat the same thing over and over again, but there are only two solutions: A big exchange (and Binance seems the only viable option) or the Omni-ERC20 duality.

Maidsafe’s paralysis on this issue is beginning to affect this project.

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@digipl what do you think of the WMAID idea? We will not burden the company with it and we can act immediately as a community?

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I’m not convinced this is a solution. One of the big advantages of this project is that there is a legal company behind it so I think any solution should involve Maidsafe.

Another thing is that some supporters will help as much as possible or even do most of the work required.

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this is the best option, but can we wait?

I agree Omni-ERC20 duality is one of the two viable options and that would be also useful beyond the launch of Safe network for bridging into Ethereum (so not too late to do it). On major exchange I do not think Binance is an option: just like Poloniex and Justin Sun, Binance appears to be increasingly opinionated about where they think future of decentralised networks lie: with their own in-house Binance Chain tech.
Bitfinex supports OMNI development amongst other open source projects, they do not charge listing fees or toxic behaviour like extorting airdrops out of projects, it is most probably MaidSafeCoin’s best option for getting listed on a major top 10 exchange that also has a unverified account level.

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proposal: MAID listing on exchanges via community created foundation

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Granted the price has dropped but not yet disintegrated.

The loan brought in double what was originally sought.
So that amount or a little more should be available?
I only question whether it is worth biting the bullet because nobody wins here especially Maidsafe if there is no market for those coins.

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Wonder if any of the big exchanges would require the “payment” in FIAT or if they would be okay with $50,000 in MAID token equivalent (which would be nice but probably not). May make sense to try to get 1 big legitimate exchange on board for that cost or less though because if bittrex and hitbtc fall through we would be out of luck. The other question is does a new exchange listing instantly gain interest from traders and bots? Idk where the data is to prove in 2019-2020 listings how it has gone for newly listed crypto projects that didn’t have crazy funding for ads and promotion.

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I doubt it. A new exchange listing is best paired with sustainable and sustained noteworthy news. If it were me I’d pair announcement of a new exchange listing with things like continued announcement of Fleming’s imminent release, a contest to develop marketing ideas in support of that release, a competition to win prizes if you find/fix bugs on public testnet, a hackathon to reward development on SAFE, etc. The exchange listing must be paired with activities that promote user engagement. These are the sorts of things the prior marketing team should have been organizing. Perhaps the Community Created Foundation @TylerAbeoJordan proposed could provide MaidSafe the added bandwidth to get these sorts of things done.

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I was thinking similarly, a new listing paired with delivery of the MVP/MVE would probably be the best bet imo. Maybe listed slightly before, but I don’t want us getting burned thinking the network is ready for use when a few days of community testing proves the current iteration has major issues or flops. I would want it to be a true v1.0 that can stand on its own legs of sorts even if lacking critical features for future success like upgrades or w/e.

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Exchanges do do this, but they would just liquidate token into fiat or a major crypto right away (or as soon as possible to get as much $ out) and hurt the price, so better if they can be released on a vesting schedule until there is more liquidity. Really we need to be targeting a better known higher liquidity exchange with reasonable fee structures too i.e. one of binance, huobi, liquid, okex would do nicely

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IF Maidsafe has enough funds to get to Fleming, why not just concentrate on that and look at something after that. Until then there is really nothing to shout out about. I know traders wont like this. It may be a big IF

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Well we think Fleming is Real Soon Now, but as always, the team rightly refuse to give a timetable.
We know the science is done and its all engineering from here on in until Fleming - and quite some way beyond, I believe. However while it is less difficult to put timescales on the engineering than on science, it may be prudent for the community to get some work done on finding other exchanges just in case the engineering takes longer. Already we have one key member possibly suffering burnout, we don’t want others out of the game for a while , thus stretching the time until Fleming so if the community can assist in any way, then we should try.
Also Fleming is NOT an immediate magic bullet for finances. Cash flow might still get tight even if Fleming does come sooner rather than later.

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The lack of exchange access is an issue for people who just want to buy and hodl too, especially if you live in the US.

Couldn’t agree more. Since the MaidSafe team is very lean now and singularly populated with the developer skill set, I think the community will have to lend a helping hand.

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@Sotros25 has basically nailed down my position. The lack of any reasonable exchanges is the thing stopping me from purchasing. I’m looking to buy Maidsafecoin with fiat currency, rather than having to use intermediary exchanges and buy other cryptocurrencies and transfer them between entities I haven’t worked with before, with days of waiting between and multiple painful KYC processes.

If we can find one, solid exchange who will take on Maidsafecoin and make it easy and fast to buy, a lot of people like me who haven’t invested in Maidsafecoin because of the trouble of purchasing it will get on board.

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Also Fleming is NOT an immediate magic bullet for finances. Cash flow might still get tight even if Fleming does come sooner rather than later.

I kind of see it as a major event like the halving of Bitcoin. From it: having a permanently raised floor (none of this below 10 cents stuff, maybe 15 to 20 at the very least if investors are insane [especially after getting on a non-fake volume high end exchange], let alone the still-rising price of crypto in general) should be a half-magic bullet… still very bullet-like. Then natural price fluctuations (both up and down) + gradual increase due to Fleming’s testing going well (right!?) = smooth sailing. …But the raised floor is the main part.

Even getting on another exchange isn’t insanely important if Bittrex (and “the other place”) still exists. If anything, if exchange stuff doesn’t happen soon, then, once Maidsafe is confident that Fleming is ready, then they could use Fleming as a way to get a major exchange’s attention—thus having a simultaneous announcement of both Fleming and getting on a good exchange. I don’t know when the conversion from MAID to SAFE (or whatever) will happen, so that’s not part of my projections so far, though it’s separate from all thus albeit still something the exchange will have to know about.

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That’s the big question. We saw how the price of MAID dumped with the closure announcement of Chainrift … if there is no decent exchange for MAID, the price could easily drop much more and as Maidsafe is likely holding Maid’s, trading as needed for cash to fund operations, then their time could rapidly run out.

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a friendly reminder that with UniSwap we can create a floor for the MAID price that cannot fall. I urge anyone who holds ETH and MAID to see how they can become a liquidity provider if we release WMAID:

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Another option? Maidsafe burns/locks the 20million loaned coins and sell them as ERC20 coin. Creating the ERC20 coin is easy. And you don’t have the administrative hassle which you would have if we went for a full ERC20 conversion.
Maybe having another loan application as well? I think a lot of people would lend their coins for even just a few percent profit.

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I think It’s enough to loan before any releases…