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
Visit this site in Firefox: https://metamask.io/
Click on Get Firefox Addon:
Click on + Add to Firefox:
Click on Add:
Click on Get Started:
Click on Create a Wallet:
Click on No Thanks:
Click on the gray box and a recovery phrase will appear below, you can use it to restore your wallet to another computer. Write it down, all 12 words:
Click on each word in the recovery phrase in the order in which the words are
Click on All Done:
Click on the ETH address as shown in the picture to copy it:
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.