Safecoin should become Safestock + new coin

Ok this is just my conceptual idea for Safecoin where we probably don’t have the divisibility issues and comes with a better economical model I think.
I know it’s maybe not realistic, especially in this stage of the project, but anyhow it might give some other insights or discussion.
If this idea was already suggested somewhere, I apologize.

Current Safecoin is just 1 coin which we want to use in a 2-dimensional playing field. We all bought MAID as investment
and in this dimension you want the coin to be deflationary. But in the other dimension, the network, you want the same coin to be inflationary so it can flow like the oil in an engine and keeps it running.
So this really contradicts, and might even become a problem for 1 or even both dimensions.

My solution would be 2 Coins to serve both dimensions: Safestock and Safecoin, like NEON does with NEO and GAS. Also this idea is not really new. It is just like having stocks and USD in the real world.
So Safestock(still MutableData) is the coin to own as investor and is linked to the outside world (BTC or fiat). It has a fixed supply(current MAID supply, so no 4.3B!) MAID will be swapped for Safestock.
Safestock will have variable yield for paying dividend in Safecoin.
Safecoin is the internal Safenet coin. It should be developed, or maybe based on an existing data type(I don’t know)
It can only be bought via Safestock, earned via interest on Safestock, or Farmed of course. The supply is unlimited, the network should take care that the amount of Safecoin in circulation is optimal for the nework to perform.
It can do that by controlling the yield on Safestock, or changing the reward on Farming. Spent Safecoins will be burned.

So this is the basic idea. Maybe it’s ridiculous with big holes in it. :sweat_smile: Probably not feasible at all with current code(I don’t know the details)
Maybe some smarter people can shoot at it or improve it.

Some extra benefits for the near term:
MAID price will surge because the current supply is the max, so no 4.3B at the end. This is nice for us, but also gives room for something else:
An ERC20 ICO! Why not have a 50M ERC20 ICO (I know there are topics about this) Current MAID holders will not be hurt, because the price will raise anyway. Also it attracts new investors which will boost the price and adds liquidity.
Personally I don’t think it is confusing having 2 coins. You see this on the stock market all the time. Companies listed on multiple exchanges having multiple tickers.
So at the end we have 450MAID + 50EMAID, total of 500M Safestocks. Fixed!
Let’s hope it goes back to a dollar, then Maidsafe can raise $50M without hurting the MAID holders, finance the project, develop the new safecoin, invest more in marketing etc.

Drawback: It’s gonna take longer to finish the project…:slightly_frowning_face:

Looks like an idea. But I’m newbie, let’s wait for pro-comments.

When people refer to Crypto as the Wild West I think of projects like Maidsafe and Neo as towns and we the investors are the settlers buying property in that town. The governance of a town is an experiment in each new settlement. As with any governance system once it is up and running it becomes crystallized and it is likely easier to create a new town than to revamp the old one. This is one reason I think Maidsafe has taken its time to make sure things are done right the first time. If your idea has merit and I believe it does then there will likely be devs that will create it at some point in the not too distant future. New towns are popping up everyday so keep your eyes peeled and keep us posted.

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To start changing things that have been well thought out and planned.
Not to mention completely changing specifics that were used to raise investments.

Its just not gonna happen.

The network is being designed to work as planned, changing things like that wont happen unless absolutely necessary imho.

A lot of thought will have gone into the current model.

Whilst its good to have thought exercises.

Things are planned as they are for good reason.

Edit: you can read about why it is designed the way it is in many other threads, especially those threads that are about changing the coin.

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Hi @nevel ,
I’ll give you an A for effort, but I would recommend you keep reading some of the whitepapers as well as searching through other topics on the forum regarding how safecoin and the network operate. Eventually it all sinks in and one starts to realize just how well designed / amazing it all is. When I first started I thought I had a good handle of it after a few hours of reading but the trip down the rabbit hole is a deep and twisty one.

In spirit, some of the concepts you have proposed are similar to other threads on alt-safecoins and ways to setup exchanges in and outside of the network for other crypto-currencies. As you read more you will soon realize that nearly all the other competing tech will pretty much be irrelevant after safecoin launches (although it may take them a while to realize this), so it ends up being far simpler (KISS) to just use safecoin directly.

A few direct comments to your post:

There isn’t a divisibility issue. It may look like that at first, but there really isn’t. Now there is just ongoing discussion about the ideal/optimal form of divisibility to select and what different versions can do. And yes there is more discussion to be had on that topic, but there are no show stoppers. The original plan by maidsafe would work fine to start if need be, but there are some other good alternatives with interesting properties. Based on my reading of the relevant literature/information, and in my opinion, I’m confident that safecoin users will get all the divisibility they can possibly handle or comprehend.

Not quite sure about what you meant here, but the fixed total supply of 4.3B safecoin will not lead to a dilution of current share (MAID) or initial safecoin value if that’s what you were referring to.

It probably is feasible, but you wouldn’t want to do it and/or there is no need to do it.

It is. The MaidSafecoin vs. TestSafecoin vs. Safecoin is and OMNI vs. BTC is confusing enough for most people.

Yes, far easier to just keep the focus on MAID investment and the use of OMNI, getting MAID on more exchanges that already have other OMNI assets, find an exchange that does direct MAID to Fiat purchase/sales, or find a way to buy MaidSafe stock, or donate to the project CEPs, or contribute to app/lib code development, or find some other way to contribute to the project, and so on…

Regardless, I think creative types like yourself that like to brainstorm are always welcome. We are always learning more about this great project and ideas ebb and flow, what I’ve described to you in this post isn’t anything official, just my current level of understanding based on what I’ve read and other forum members have explained to me. There are old-timers / legends who frequent the forum that may set us both straight here. Cheers! :grin:

p.s. If you haven’t done so yet, read The Safe Network Primer. Click the download link to get the pdf. When you are finished, read it again, and then share. :wink: