Also PDC is still live on omni, just not traded anywhere. And these Omni PDC will be honoured by @Seneca (said he would when setting up the ERC20 for PDC)
@whiteoutmashups Had his tokens on there, but have not heard from him anything about them for a while now.
safex did a exchange from omni to their new blockchain using a semi-automatic process where one sent 3 transactions with the coins, and new address held in the data section of the transaction. There was a script run by safex to do the issuing of the coins in the new blockchain.
Maybe @JimCollinson this might be a way for the MAID to the token exchange. No need for anyone to communicate with MaidSafe and the transfer is fully signed to prove ownership and burning of coins in one (3 transactions) go. The 3 transactions were required to hold the address on the new blockchain since BTC data area is not large
The team should definitely not be distracted by this, I love the current pace at how things are moving with the network itself. Letâs please keep that awesome progress going! But eventually when things are being completed we do really need more options than omni. How will âSafeNetwork tokensâ become available to buy/sell? Exchanges will need simple and easy access and choosing a widely accepted and used protocol like erc20 token will dramatically make listings easier. Both CEX and DEX use it so one token to rule them all.
Omni is a secure protocol but it is starting to age, node synchronization is taking over a week now on a fast machine with SSD and that would be the main requirement for people if omniwallet ever goes down, there are no alternatives unless your hardware wallet allows to broadcast a simplesend transaction on the omniprotocol.
The opinion that things cannot be done in parallel and that the network must first be completed before work on the ERC20 token may or may not be true.
If it takes another 1-2 years to get to the launch, why not use that time in parallel to attract new users, by including our token in the 100 million people strong Ethereum ecosystem?
Part of the reason Cardano has such large support despite not having their mainnet out is that they are working on a TON of things in parallel. All well thought out with detailed vision.
I understand that perhaps we donât have the resources to do some some things, and if so, it is what it is. But what troubles me is the apparent opinion of some that these âextrasâ are currently unimportant.
I donât have a simple solution; I wish I did. But I do think that some people are in for a bit of a surprise at how hard itâs going to be to get this off the ground even after the network is up and running. I know that @dirvine and others have put thought into this, and have a plan. I hope they are correct.
If we believe that the grandeur of the Safe Network will just motivate everyone to jump from the clear net to the SN without having a bridge in place, we most likely are in for a nasty surprise.
We will risk that the project ends up dead in the water. And then?.. all that hard work done for what?
If we want to replace the clear net, we have to grow the community. Making it easy to jump on board is key to a rising price and in the world of finance price is your way of getting the word out.
I agree with Amaizenblue that Maidsafe could work on more than one thing at a time and believe that at this stage an expert should get involved to work on a move to Maid-erc.
PS if wrapped is too complicated then why not look for alternative options, like the option from Swissprivatebanker or Deus Nexus. Both offered to help Maidsafe with this process in the past. Are they still open to this?
@DeusNexus had been advancing building a mechanism where Omni gets turned into ERC20 and viceversa. With a couple months more work, he could have it ready.
Building what he has already built, he hasnât distracted anyone at Maidsfe from progressing to launch. @dirvine why not motivate him to finish what he started building and somehow pay him for his service?
Later when we have the Safe Network Tokens, he could adjust this bridge to SNT â ERC20 and vice versa.
BTW, wrapped is the simplest of existing solutions, and it is progressing, itâs just that it might not suit everyone, depending on their privacy requirements and tax arrangements etc.
I would encourage anyone to work on this and I hope they are well rewarded along the way. Itâs amazing and there has been no hassle for MaidSafe and no permission sought and I think that is just correct. Itâs more decentralised this way and more of this will make us all stronger.
Thinking it thru, I believe Wrapped is not the best option, because of privacy issues as you already stated. This by itself goes against the foundations of the SN. I remember @dirvine saying in an interview that the only entity that should be on a blockchain (and not have privacy) is the government.
So when a developer like @DeusNexus develops the âstore Maid-omni in an Ethereum contract / mint Maid-erc20â-mechanism, so that MAID-omni can be exchanged for MAID-erc and back again, I believe this would satisfy everyone.
There is no involvement from Maidsafe at all. So legally this leaves Maidsafe completely outside of the picture. Isnât this what we want?
If you want the confidence that if something goes wrong with the process there is ready legal recourse for you and youâre willing to comply with KYC for that confidence, then Wrapped is likely the ideal solution. If you would rather not do KYC but are willing to take the risk that if something goes wrong, legal recourse may be difficult to obtain, then a more community-driven/anonymous solution would likely be the ideal solution. At the end of the day, itâs about what kind of risk youâre willing to take.
I honestly believe that Wrapped MAID can coexist with a more community-driven effort. Nevertheless, the two assets may likely have a divergent price and introduce unnecessary confusion and inefficiency. Personally, I like to know the name and face of the entity that will be legally responsibleâparticularly if the other party doesnât have a track record for successfully completing the task. Wrapped MAID may carry a premium for that. It would be a worthwhile premium, IMO. To each their own, however.
Would be good if viable, though does look like a long shot:
âalthough the network is open, the existing THORNodes MUST be happy to run the update.
As a requirement, the chain MUST be economically significant to present an revenue opportunity for nodes.â https://twitter.com/THORChain/status/1385806547058511872
550k wrapped MAID has already been stolen once by a legal company - OpenLedger Dex.
Fool me once, shame on you; fool me twice, shame on me
I supported the proposal for a wrapped token because I was left with the impression that the full version of ERC20 MAID was not on the negotiating table.
After @dirvine said that such an option is possible, and after the majority of active members in the forum have clearly expressed their support for it, I only support a full ERC20 MAID token.
One of the foundations of Safe is to remove middlemen, I donât want to give my money to a middleman.
@Dimitar I agree with you on the erc20, still a bridge would have to be build between the clear net and the safe network. I wish i was smart enough to build it, but i am not, so i hope someone like DeusNexus can make it happen.
It is good to know that David supports an initiative like that and with the proposal from DeusNexus, we have the best of both worlds.