Thanks for the detailed clarification @krnelson, really valuable and I appreciate it a lot.
I wonder what level of risk is acceptable here? Like, to get just something small started?
I don’t know the space very well, but what about Storj? Tether omni-vs-erc20? PDC?
I wonder, what if a single person here made an erc20 coin with 452552412 coins available, announced it plus an omni deposit address, then list it on a dex?
It’ll mean some work for the single person to manage the swaps, so they have to be happy to do that work, but they’ll get part of the liquidity pool rewards for doing it. Maybe after some time they will identify the main operational pain-points and the community can help smooth them with some software automation or community participation?
Anyone can look at the omni address/txs and the erc20 contract and the dex liquidity pool to see if it’s operating as expected, no fraud etc.
It’s still a risk to both the contract owner and the trading participants, pretty high risk perhaps, but some traders will probably take it up, right?
What I’m getting at, I feel we’ve been aiming for a solution with very low risk and won’t ever get off the ground. It seems to me there’s a simple-but-high-risk way to get started on dex with a small-but-present audience. Why not try it and at least see how much of the market is open to this high risk option? It adds complexity to the maidafecoin ecosystem, but it’s reversible complexity.
If it works, maybe others will repeat the process. Then there’d be multiple erc20 coins (which is messy), but the liquidity pool can smooth it out and it also means there are various degrees of trust instead of one big multisig single contract. If one erc20 bridge fails, the others continue. A plurality of markets rather than a single community-run market.
Why doesn’t someone try implementing a very-simple-but-very-high-risk option and see if the tip of the iceberg comes to the party?