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 MaidSafeCoinâs best option for getting listed on a major top 10 exchange that also has a unverified account level.
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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 âpaymentâ 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 didnât 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 Iâd pair announcement of a new exchange listing with things like continued announcement of Flemingâs 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 donât 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 donât 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.
Couldnât 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. Iâm looking to buy Maidsafecoin with fiat currency, rather than having to use intermediary exchanges and buy other cryptocurrencies and transfer them between entities I havenât 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 havenât 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 Flemingâs testing going well (right!?) = smooth sailing. âŚBut the raised floor is the main part.
Even getting on another exchange isnât insanely important if Bittrex (and âthe other placeâ) still exists. If anything, if exchange stuff doesnât happen soon, then, once Maidsafe is confident that Fleming is ready, then they could use Fleming as a way to get a major exchangeâs attentionâthus having a simultaneous announcement of both Fleming and getting on a good exchange. I donât know when the conversion from MAID to SAFE (or whatever) will happen, so thatâs not part of my projections so far, though itâs separate from all thus albeit still something the exchange will have to know about.
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Thatâs 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 Maidâs, 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 donât 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 Itâs enough to loan before any releasesâŚ
Maidsafe should deliver at least one year ago and they are to blame that less and less people follow this project thus the price is falling. The price may fall but I see a big support at the current bottom at approx 8 cents. Even if the price would fall another 50% and stay there then there will be many buyers, so this would be probably short term, its another story if Maidsafe will not deliver soonish. The is not any more on Maidsafe side.
Sour grapes man. Maidsafe can only do what they can do. You can demand that Elon Musk should have finished Starship last month ⌠but WTF difference does it make? How are you being helpful here? If you think they should have finished it a year ago, where were you? If you canât do it yourself, then you have NO ROOM TO MAKE ANY CLAIMS. Logical fallacies to the moon dude.
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The idea of the extra loan is to have extra ERC20 coins. Letâs say 45million, 10% of total supply.
Maidsafe doesnât have to use the extra money for development. But itâs nice to have some backup. If they safe some money, then they can use the saved money to buyback the real safecoin once released and return these coins to the lenders
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