SAFE Network DEX


#1

If we are having trouble getting listed why not get the team to develop our own exchange which would raise money for the SAFE Project + have maid listed somewhere (It could even be the base currency or one of the base ones). Could list good solid projects for free if they meet certain criteria otherwise charge average projects something to be listed and of course try best not to list awful ones. As mentioned above, income from fees and listings would go towards SAFE Network development…? Could even move the forum there to show how much of an engaged community we have.


#2

Errrrm and delay launch by how many months possibly a year :face_with_raised_eyebrow:

Find a way to justify that move and we’ll all be listening intently :slight_smile:


#3

Yes I think as @beermenow creating an exchange would come at the cost of Fleming and beyond so not the best timing for us to look seriously at doing this. We have 2 decent sized centralised exchanges listing and the DEX (open ledger) and are working on other options. We would like to have some specific and positive news on this by now, but each exchange works differently and has different priorities.

As many of the top exchanges utilise Tether (Omni) the biggest barrier we see is the listing price (although a small number don’t charge and base their decision on the merits and legal position, through the eyes of a local attorney, of the project), these are coming down, but still very high in some cases. Maybe this is something the community would co fund? But I’m unsure if there is an appetite for that. Price for most mid level exchanges start around 15BTC.


#4

Hey @nicklambert , As posted previously in another topic, I would suggest listing on Blocknet Dx since it’s free and one of the few really decentralised


#5

Hey, what does it offer that openledger doesn’t? Easy enough to set up on other dex’s, but managing the order book and the accounting adds a bit of time so be good to establish differences. Thanks


#6

Hey Joe,

I think that, theoretically, it would be an amazing thing to have MaidSafe code a sort of network-native DEX. I’ve mentioned it before, that I see that it would be beneficial from several points of view. There hasn’t been much discussion about it, so I haven’t had much challenge to my arguments (so I don’t know how well they fly in reality :wink: )

But now is definitely not the time. They are focusing on building the network itself, and that is exactly as it should be. Taking the time they need to get it right, or making the compromises they need to get it out, all of that.

So, there’s still some time left before these questions are on the table, but time will come :slight_smile:


#7

Many self-claimed dex are not really decentralized since many components like order broadcasts, order matching and many others are centralized. Several centralized exchanges use IOU tokens, so when you trade coins you don’t really own them.
A solution for bringing a total decentralized exchange consists on using atomic swaps. Blocknet indeed uses it, openledger doesn’t.
Atomic swaps are an effective way of removing trust from the equation and thus make trading cryptocurrency a lot safer
Read this article quite ago and it was very informative: Hope you’ll find it interesting
Blocknet: understanding a decentralized exchange

You can find the application form here: Listing on Blocknet
Let me know what you think about


#8

Blocknet is something for the purists (right now). You need to install the Blocknet wallet and download the whole Blocknet blockchain. Then you need to install the DEX itself. The DEX needs to connect then to the Blocknet wallet and other wallets+blockchain you want to trade. So if you want to trade bitcoin, then you also need to run the whole bitcoin blockchain. This will change with the xrouter implementation, but they are still developing this (?)

I actually tried running the blocknet DEX. but i got failed connections with the blocknet wallet. After that I was done with it. For now it’s way to complicated for just buying some MAID coins IMO.


#9

Yeah agree with you. The actual solution is not practical but the current xrouter development will improve it. And moreover, though it’s not practical at the moment it’s the most decentralised solution that I know


#10

Thanks for the article, that is interesting.

With OpenLedger the order matching is performed by the protocol and I control my own private keys, so I don’t lack of ownership over the coins being traded, or trust a central entity during the process.

I think given the comments practicality comments above we’ll give it a miss for now. Appreciate you bringing this up though.


#11

No problems. Brought this to attention cause I think it’s a very good project achieving interoperability between different blockchains without compromises, just pure decentralisation.
Hope they’ll improve soon the practical side too so our project will take it in consideration for our next future


#12

Good idea. Do it.

Like others have said doubt Maid has the time or resources and they should focus on launch.

I’ve realised over the years that the best way to help this project is to focus on things I can do today in the here and now and give those things my energy.


#13

Agree. I think key right now should be completing development. I also think MAIDSAFE team should start looking at some partnerships too. Not with corporations as we need a finished product for it but perhaps with some innovators in the industry. For example: Komodo platform. May be MAIDSAFE can be the backend storage layer for all Komodo projects. Komodo has a decentralized exchange too.

I dont think Komodo team is money minded so may be decent partners. (I own Komodo tokens as well but thats not why I am proposing the above).


#14

Thanks for responses. Nice see so much community engagement in the - hopefully - depths of the bear market!


#15

Partnerships will be huge. Can you imagine if Microsoft or Amazon decide to jump on board? Certainly not out of the realm of possibility.


#16

I like the idea, but it would need to be more cost effective than simply buying a couple of listings elsewhere, and would need to be profitable to justify the costs involved and enable the core team to keep their focus fully on Fleming.

If MAID were available in ERC20 form, a fork of Etherdelta or similar with a limited selection of cryptos available might be relatively cost effective to set up & run (or not - I have little idea of what’s involved).

If a community led fork of Etherdelta or similar plus ERC20 proxy for MAID were possible for a reasonable sum, it could be worth a punt, it wouldn’t need to affect the MaidSafe team at all, and people’s private keys would be their own.

To have a single place to trade MAID, PDC, SAFE-FS & any other SAFE focused tokens could be interesting, combined with an effort on R&D for creating a true DEX on the SAFE network when it’s ready.