[Poll]: full OMNI to ERC20 swap

OK, thanks for clearing that up.

It’s why I originally asked if it needed to be a full swap.

Some ppl have no clue how eth works and may not wish to learn. This has certainly been the case in the past.
But let’s see how the vote plays out.

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How will you ensure the total number of MAID does not exceed 452.55M without forcing people to swap and/or burn their OMNI MAID? What will happen to MAID that’s currently on exchanges?

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Both are quite easy and are completely verifiable by everyone.

A snapshot of the BTC blockchain is made. We announce the date for it publicly. Addresses that had a MAID on the date of the snapshot can sign a message and request their ERC20 MAID.

In the smart contract on the ETH network there will be the same amount of MAID as in OMNI.

And we will warn the exchanges that we are making a swap on the specific date so that they can stop the deposits and withdrawals before the snapshot, and after that only ERC20 MAID will be available.


Privacy. Security. Freedom

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And why would exchanges take the time to do this? It would make more sense to use a custodial solution like Wrapped to lock OMNI tokens that are swapped.

Also, I wish you had afforded the same respect to the thread for the Community Exchange Listing Fund:

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It is literally a copying and pasting of the ERC20 MAID smart contract in their system. It will take them a maximum of 5 minutes…

I’m sorry you took it that way. Please accept my apologies.


Privacy. Security. Freedom

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The thread (and how you derailed it) speaks for itself.

I accept apologies that are earnest, not hollow virtue signaling.

Sounds great. Do you know who will do the work and how much it will cost? If the vote is overwhelmingly in favour what happens next? Great work guys

Oh sorry , missed the short explanation at the end.

This is the kind of poll that only attracts those who are voting yes?..

The introduction does not make enough detail on the implications of this to ensure balance… what does “full” mean?

Poll v discussion:
This is a confusion between a thread that is resolving what the poll implies and the poll itself, so only useful to know who does support… but what voice those who do not.

Who is voting yes:
If the sum of balances on the accounts of those who vote yes is the larger part of ownership, perhaps that’s part of the argument… but if it’s a handful trying to boost the price, then we know how easy it is to attract crypto pump and dumpers to any vote for a quick win.

Obliging everyone when MAID to safenetwork token is understood:
That seems like a demand that all MAID is required to transfer?.. obliging those who do not vote or see this, into what the OP already notes as a taxable event.

Geeks rejoice:
How does this sit relative to the switch from MAID to safenetwork tokens. It seems to add risk in exchange for tapping a more obscure than Bitcoin geeky environment… this is not making it more public accessible??

Do you support a full OMNI to ERC20 swap? … not without more detail of how this sits relative to the switch from MAID to safenetwork tokens.

I wonder this poll should have one button - a yes; as the no is of zero value without polling everyone… or assume the No’s are a sum of everyone else.

So. it’s not persuasive yet…

if it were making it more accessible to the public directly and not through another hoop understanding what ETH is, that would be something;

if it were providing a clear solution for after the switch to safenetwork token - creating option for safenetwork token to swap to ERC20 and to broader interests, then that would be something

but there is nothing in the OP about that - it seems to be about before the MAID to safenetwork switch is done.

What problem is this solving?

:man_shrugging:

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It’s not about you and me. When 80% of the centralized exchanges we’ve ever been to have screwed us over, I think it’s important to point that out.

Of course, I appreciate your efforts to add us to more centralized exchanges and I have nothing against you.

I hate centralized exchanges and I feel obliged to point it out to protect other people because I hate I can’t do more. Although I have donated to people who have lost their money it is better they not lose their money…


Privacy. Security. Freedom

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I voted no. Can we focus on snt launch assistance instead? I also think omni is fine as it is.

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Can you point to what would trigger this as a taxable event or where the switch from current Omni tokens to SNT would trigger a taxable event?

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You have to take responsibility for what you say and do. Period.

Feel obliged to point it out on a separate thread. DEX have their own challenges too. Everything in life is a trade off.

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I don’t think it would be a taxable event since they represent the same asset. It’s not like these governments are doing blockchain exploration to verify these transfers (except where notified by exchanges). As long as you make a good faith effort to estimate your gains and pay your appropriate taxes when you cash out, they aren’t going to come after you.

Note that I am not a tax lawyer or accountant and to take my opinion with a grain of salt.

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This is a large part of it… OP is presenting a challenge without making it easy.

I mean, you said what I thought from the beginning even before this thread. However, if there was something more to know, I wanted to see if anyone had a direct answer as paying taxes now as opposed to maid at $25+ is a much easier financial maneuver without drawing funds from the maid itself.

They’re not acting with good faith… UK HMRC is an example of that… intent to tax every transaction, without reason… it is not consistent with the normal expectation for CGT and almost clear they are trying to stifle innovation in this space while grabbing at what they can get. offtopic

OP needs to address all concerns before poll is valid and fair to all interests. Proposal adds complication and not enough clarity… spawning again too many questions.

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Without continuing this off topic, this sounds like a UK point of view obviously, which for once I’m grateful for.

Can you make a draft to the OP, so I can add it?


Privacy. Security. Freedom

It could possibly be taxable in the UK, if your recording end of day prices for your calculations, and the day we swapped we saw a price rise, that rise could be taxable.
We do however have a cap gain tax free allowance per year 12,300 this tax year.
It’s not strictly a trade as you didn’t buy or sell, so its difficult to say for sure.

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