Thanks Jim, that could certainly change the game and I would totally change my tune if we can get listed there! (assuming it is a success, but ErikV knows his stuff usually).
Possibly also worth investigating Sifchain? Not sure if either of these would support Omni off the bat, and my time is a little thin to go digging.
Me and @Sotros25 will pick this up and let the community know our findings.
Thanks Jim, I saw it and will test it as soon as possible
Privacy. Security. Freedom
I have looked into Sifchain previously, despite using the keyword “Omni” they do not actually mean the Omni Protocol. They have not listed the 25 other chains they want to swap between but again, Omni Protocol is probably extremely low priority because the temporary MaidSafeCoin is the last project left on it. This also goes for Thorchain… why would devs put priority time or effort into supporting Omni Protocol just for one temporary project coin called MaidSafeCoin, that BTW has very low liquidity and number of users? It does not make much sense from a resource allocation POV. It might happen, but the probability seems stacked against it or at least very far off in the future.
That is why pursuing an ERC20 (or BEP20 if that is easier I don’t care so much which, as more the where are the Mobile wallets, users and liquidity) option right now is still the optimal path to ensure access for Everyone at launch time.
As the risk of repeating myself, this is true which ever way you cut it. Someone will have to put some effort in somewhere for this temporary thing, and the transition out. It’s about the path of least resistance and risk.
In my recent talks with some key figures in the crypto/exchange space I’m feeling the same thing. For a DEX it would make much more sense / low effort to integrate chains that require just 1 asset to take care of. With Omni, you need to lock in both MAID and a piece of BTC for a transaction.
Tone Says suggested we take a look into Bitcoin’s sidechain: Liquid. Its fast, its cheap, and has the decentralization from the BTC network. Most exchanges mentioned ERC20 would increase listing chances (especially the free of charge ones that Maidsafe is looking for) by a thousand percent.
I’m still not exactly sure what would be the right thing to do here, but I do know @Sotros25 and I (and I believe some other community members, sorry if I forget to give credits) are putting our bets at Wrapped which has the network, but also has the brand awareness. Wrapped MAID will be much more recognizable than eMAID for example.
Additionally we’ve been working with a lawyer to get a statement we’re not a security. This initially started after we got a response from Bittrex when we asked if enabling to the US market would be a possibility. A lot of moving parts here at the moment, and I’m sure we’re not the only one doing the work here. we’ll be able to connect the dots looking backwards.
The main problem for me is that 17k addresses are too little for a good start. With an ERC20 token we can easily double this number to 34k addresses quickly.
Privacy. Security. Freedom
Exactly. Omni risks are high and rising plus damage the core tenant of Safe: Everyone. It was safe to sit still on Omni before, but the probabilities have now shifted and I have seen zero pushback that this is not the case (see summary list here).
This is true as well, and there is a high probability that when a team of programmers sit down to design a safe secure transition out, the flexible, programmable ERC20 with lots of similar contract example cases to draw from will be a lot cleaner secure choice than unprogrammable Omni and little similar transition cases. That is one main reason why Omni has no traction.
Shapeshift use to have MAID on their platform in the past, maybe with a working testnet now, they’ll be willing to revisit…
Lol check beneath to see MAID at $0.08
I don’t think anyone is disputing the difficulties of Omni. We all know that.
It’s how we do it with least risk to all parties. Each approach comes with a trade off.
I personally would prefer one that doesn’t rely on a 3rd party, and I am also of the opinion we likely need to examine the transition MAID to SN carefully first to avoid unnecessary work/risk.
But I think there may be surprises in store too though, if we cast our gaze a little further
This has been cited as a risk avoiding strategy for some years now, it is a block to progress on the Everyone front under the threat of fear of unknown. Result: as @Dimitar points out above only 17K addresses, and we are about to head into launch with no way to get tokens into the hands of users until some indeterminate point in the future after SN launch and/or based on the goodwill of third parties something which you cite as wanting to avoid, (and I agree - ERC20 or similar removes third party risk not adding more!). Most alternative proposals like Mechanical Turk DEXs, CEX bucking trends and listing SN Tokens have been hand waving about some long off possible future. That was ok when there was not even a testnet, but it is a much harder sell now.
ERC20 or similar move in addition to keeping Omni passes the Two Way Door decision test. Simple, concrete, actionable, low risk and reversible:
It is how it is done where the assesments need to be made. An no, it’s not necessarily low risk.
It passes the two way door test for a start so its risk level is low. It is only as risky as the ability to secure Omni private keys.
From one particular perspective, yes.
MAID wallet still under maintenance. I just asked them when it will be functional again. I hope soon. @Mightyfool could you maybe help to speed up the process?
I’m pushing at least twice a day, its tiresome. Their best tech guy is now on the case and will solve it, I would however expect it to be a few days still as their initial integration is flawed.
No need to worry, they’re working hard to get it resolved but I agree that it fees very incompetent from their side. Lets hope the tech specialist will fix it asap.
Try to sell for USDT and then send to Bittrex, worked for me. The USDT transfer fee is also slightly less than MAID.
I have too much there to get even remotely decent price. Also, it would be taxable event.
@Mightyfool thanks for your efforts and information about the situation. Much appreciated!