Proposal for the MAID loan to be duplicated in ERC20 token

Hello friends,

the purpose of this topic is to:

  • do a simulation for prospective option for ERC20 MAID
  • give willing community members a SAFE environment to test DEX

My initial idea was to launch a new ERC20 notMAID token for the simulation but of course this is the crypto world and the likelihood of someone using it for fraud is not low. Therefore, I will use the PDC ERC20 token.

For the simulation I wanted to consider the option at which the community generates 30 million ERC20 MAID and gives them to the MaidSafe company. I guess we all believe the company won’t do double-spending. The idea is that way the company can sell on both current and decentralized exchanges. And we will have ERC20 MAID without the weight of lost human time (for OMNI to ERC20 conversion) and possible problems with the law for MaidSafe and David.

So, the first part of the plan is MaidSafe to place sales orders on a DEX with price 10-20-30…% above that in centralized exchanges for people who do not have access to them or if they just want to buy directly from the company.

The second part is we as community to create a price floor in UniSwap avoiding the tragedy of the common good with the new ERC20 MAID which we buy from the company.

This simulation looks at the second part of the plan. To become a liquidity provider in UniSwap we need ERC20 MAID and ETH.

Let’s look at some examples for the current price of MAID:

1 MAID = 0.00001023 Bitcoin (BTC) = 0.00037669 Ethereum (ETH)

If we want a price for 1 MAID = 0.00037669 ETH then 1 ETH = 2654.7028 MAID

  • For 10k ERC20 MAID in UniSwap we will need 3,766900009 ETH
  • For 100k ERC20 MAID in UniSwap we will need 37,66900009 ETH
  • For 1m ERC20 MAID in UniSwap we will need 376,6900009 ETH
  • For 10m ERC20 MAID in UniSwap we will need 3766,900009 ETH

Now let’s look at what happens with the price if there are 20к ERC20 MAID circulating (MaidSafe have sold 20к ERC20 MAID) and we as community were able to put 10k ERC20 MAID and 3,766900009 ETH on UniSwap.

  • At 10% sale of all available others coins (1k) the Expected price slippage will be 9.03% or 1 MAID = 0.000341 ETH = 0.00000926 BTC
  • At 50% sale of all available others coins (5k) the Expected price slippage will be 33.16% or 1 MAID = 0.00025 ETH = 0.00000678 BTC
  • At 100% sale of all available others coins (10k) the Expected price slippage will be 49.77% or 1 MAID = 0.000188 ETH = 0.00000511 BTC

You can confirm my numbers if you go to UniSwap/PDC pair. I added the ratio ETH/PDC at 1 MAID = 0.00037669 ETH according to the example above BUT I don’t have that much ETH so I divided the numbers by 100. That means that if you want to see the same numbers as those in the example above you have to imagine that 10 PDC in the calculator = 1000 MAID, 50 PDC = 5000 MAID, 100 PDC = 10000 MAID

Now the second part of the purpose of this topic:

SAFE environment to test the UniSwap DEX

Yes, I know. Many people know how cool the ethereum DeFi world is but there also appear to be people who do not have even an ethereum wallet. So let’s start at the basics.

Here you will find how to:

  • make an ETH wallet in less than 1 minute
  • how to get some free ETH and PDC to test UniSwap

How to make an ETH wallet in less than 1 minute

How to get some free ETH and PDC to test UniSwap

Post your ETH address in the comment here and I’ll send you some ETH and PDC to test UniSwap. You can sell the PDC for more ETH, or buy more PDC, or add liquidity to the pair.



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I don’t believe it possible to create 30 million ERC20 MAID and that equivalent amount of MAID is not burnt. Either it is 30M ERC20 MAID or 30M MAID there should never be both alive at the same time representing the same assets, that is pure wrong.

From a personal standpoint I can’t see Uniswap as a good way to provide liquidity. To support a swap for someone who wants 10 000 MAID there have to be 1 000 000 MAID and Eth on the other side to match that amount. Such a swap might only move the price around 1%. If the pool was 100 000 Maid and eqvuivalent Eth on the other side a 10 000 Maid swap would move Price around 10%, who will buy on such terms. To support 1 day of Bittrex daily volume there should be around 10-20 000 000 MAID and matching amount of Eth in the pool, to not move the price in a ridiculous way. To support one day of HitBTC volume there would need to be 100 000 000 million MAID and eqvuivalent Eth to not move price more than 1%.

I can’t see Uniswap as anything other than a ineffiecient way of making liquidity. Maybe Uniswap is good way for arbitrage to make lot of easy money.

Maybe I think of it wrong and don’t get it, but Uniswap makes no logical sense to me.

If people want to use Uniswap it is up to them, but I can’t support it.


Okay, so what do you think of the idea of the community releasing those 30 million to the company in packages of 10k/20k(more)? MaidSafe burns 10k Omni Maid and gets 10k ERC20 Maid?

There is 80 million $ liquidity in UniSwap. This means that there are people looking for low-risk income, unlike traditional exchanges where if you trade long enough you are likely to lose more.

There are people who currently can’t buy at all (US). Maybe they will buy? There are people who don’t like KYC? Maybe they will buy?

It may not be effective at the trader level. But if enough people put in 100$ in a shared pool we will help with the price. From my simulation you can see that there is no way the price to get to 0, so you only risk 50% of your 100$.

This is okay, the second part of the proposal is only for people who want to try to create a floor for the price, it is an option and is not tied to the first part. Of course, anyone can do whatever they want with their new ERC20 MAID :dragon:


Thanks Dimitar - Liquidity added


Whouldn’t it be better to focus more on decentralised exchanges?

The only thing I say is that it should never be both MAID and ERC20 MAID alive at the same time representing the exact same assets, one has to be burnt. For 1 ERC that represent example asset “abcd”, 1 MAID has to be burnt. Their should never be 1 MAID and 1ERC both alive at the same time representing the exact same asset “abcd”

I don’t understand why Maidsafe would want to get stuck with any high number of ERC20, as decentralised exchanges have very low daily volume compared to centralised exchanges. I think if Maidsafe wants and needs ERC20 then they will make it happen, but there is no need at this time. For community and traders a need might exist but that is a different question.

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