Project Decorum - ERC20 Launch

projectdecorum

#62

@Seneca - Do you know when a new batch will get processed? I burned some Omni PDC about 2 days ago. Don’t mind waiting a bit, but just want to confirm that batches are still being processed.


#63

@Seneca any idea on how to proceed now PDC is (also) an ERC20 token? What was the main reason for this conversion? My guess is so it can be traded, because if it was for holding only, then one just needs to store their original PDC in a btc/omni wallet. After MAID got deslited from a bunch of exchanges, the PDC team came forward with this ERC20 conversion as it seems. So being able to trade PDC seems to have been an important factor, which is fine.

We are ERC20 for a while already. What’s the plan? I don’t see the reason of all the hassle to convert to ERC20 without having a clear plan available and not showing us what effort is being done to get PDC listed on more exchanges for example. Or for that matter giving some updates on the development to create a more enthusiastic community which often result in more effort coming from that same community, like getting in contact with exchanges.

I think a lot of PDC investors would be very happy if you gave us some heads-up on the current status and future plans. Thanks.


#64

Im sure you will get an answer in time, seneca is good like that.

I believe the opional conversion was indeed as we lost bittrex as a trading option.


#65

I believe the opional conversion was indeed as we lost bittrex as a trading option.

That’s fine, but why go through all the hassle of creating conversion tools if there’s no action or plan to actually make use of what just has been created?

More roughly stated that energy could’ve better be used on the development of PDC itself.

And of course I believe Seneca’s intentions are good and he will deliver eventually. But what I’ve seem from him is that he’s a smart guy and for me that’s another reason to wonder about why he isn’t elaborating more on this.


#66

I really dont think the conversion tools took that much time or energy to create, although thats just my opinion.

I believe some were very keen on the ability to convert to erc20 as that does allow the possibility of more unregulated exchanges being used.

I personally feel everything is still moving along nicely, and have not bothered to convert.

Your questions are valid, im sure youll get some answers soon enough.


#67

Indeed, a good number of people expressed their interest in an ERC20 conversion. There were two main reasons to do so. The first was that the Omni ecosystem is very small and has relatively poor software quality and support. There is no way to send Omni tokens from a hardware wallet for example, and there’s only one webwallet. The second reason was to enable people to use the decentralised exchanges of the Ethereum ecosystem in the face of more regulation and the Bittrex delisting.

I’m not a trader myself so I’m not sure exactly how useful those decentralised exchanges are. I’ve gotten the impression that most PDC owners are of the holding type, although the desire to be able to trade the tokens is of course valid. The main reason why you haven’t seen much effort from us to get PDC listed on a big exchange is that PDC is a placeholder token and the future Clikes will have a completely different protocol, even different from SafeCoin. So we’d have to pay off the exchange for the extra support and regulatory risk they take (a token like PDC doesn’t give them much fee income), only to have the near-certain risk of them not supporting the future Clikes when SAFE launches. After that launch it would be a lot more efficient to put resources into a permanent listing on a proper exchange.

The issue here is of course that we don’t know when SAFE will launch. We’re open to suggestions to help to further improve the interim situation. If there’s a decentralised exchange that works reasonably well, maybe we can help draw attention to it to get more liquidity there?


#68

Does anyone know https://ethermium.com/? Main benefits that I see is that since several weeks ago it’s permissionless/open (no listing requests necessary, any ERC20 token can be traded) and it supports the Ledger Nano S hardware wallet.


#69

I tested it with MetaMask and it works… Whether it’s 100% safe I do not know…


#70

With these Ethereum exchanges one needs to move tokens to a contract that’s creating the orderbook. So in theory the people owning that exchange could run with the money if they want. But that’s not different from most other exchanges.

EDIT: Here’s the code.


#71

Looking at the contract it indeed seems they have that power. That contract allows ‘admins’ to withdraw from any account.

EtherDelta/ForkDelta use a contract [1] that is much simpler and does not seem to give anyone any power.

EtherDelta/ForkDelta have vague interfaces though, EtherMium looks much more user-friendly.


#72

Not even the power to completely destroy the contract? Or to just make it inactive? That could be a risk as well isn’t it?


What’s up today?
#73

Doesn’t seem like it. They can only change the fees I think.

Could be a risk, but can also be seen as an advantage. I wouldn’t feel safe if I know they can de-activate the contract at any moment.


#74

Same with SFSC ERC20, so perhaps it would be useful to compile a list where users can trade the Ethereum versions already:

Recreating this list with more entries and the links embedded, would be very useful


#75

Looks like EtherMium is the only one. Still though, it only had 4 users over the last 24H.

I guess this is the problem. Most people aren’t willing to trust a contract when some ‘admin’ can take your coins and run. Wish they had the best of both worlds from EtherMium and EtherDelta/ForkDelta somewhere:

  • Simple interface
  • ‘Simple’ unstoppable contract where no one can steal your tokens
  • The ability to trade any ERC-20 token without the need for a project to get listed
  • Support for hardware wallets

That would make things a lot easier.


#76

Hi @Seneca

I sent my PDC via Omniwallet address: 1Fi4Km5JfSe…sBRNVvuBUAtno
to burn address: 1HvefrAPhjs…jnaXWSJBz7bGX

at 1/11/2019 10:48:29 AM

My ETH address: 0x03337091633…5775e49bcc4abf

Could you let me know if - and when - I will receive the tokens on my ETH address?

Thank you very much.