The OMNI tokens will still be valid of course.
Of course… assumes others see what you are suggesting.
Where did you pull that figure from? 452,552,412
I got that number from coinmarketcap
So, it could be any number less than that…
I’m not following, thats the maximum omni token supply. We need the same amount in ERC-20 for a 100% conversion.
But that won’t happen, so if the community has 50% left over, they are burned at the end.
@Dimitar would this plan be something you would consider being part of? like doing the swap
I’ve never owned ETH… closest I came was attending their first meetup.
If daily volume is to be believed as equal nonsense ETH is half of BTC.
. Bitcoin $49,981,103,155
. Ethereum $27,069,247,365
I don’t know enough to have a strong opinion on this.
I prefer your proposal because it will be a one-time commitment But let’s see what others say…
This looks like really most real version of what we can do. Than we do not really need to care if it is in every country in the world 100% legal if the main thing would be trust to our Trustees.
I prefer mine too, because once the swap is done, the tokens are 100% verifiable to have value. If @dirvine will honour them.
well I think the trustees would care to make sure its 100% legal. Never really thought about that part. Although tons of people issue tokens on DEXs and I don’t see them getting carted off to the gulag.
I strongly support a dual OMNI and ERC20 token. Higher accessibility, higher liquidity, higher token price, higher funding for Maidsafe.
I’ll offer my technical skillset should it be necessary for facilitating this initiative.
One time swap is fine if enough people do it in time. It might make the market rather small if not enough is onboarded in the timeframe though. I prefer to give time for those that aren’t early adopter types to see others using it and think hey that sounds ok. This could do some sketchy things with price like create an artificial bubble because, while there is supply that wants to sell, most of it can’t reach the market.
And we aren’t asking you to make this your job @Dimitar. maybe just once a week look at the pending swaps and put your stamp on the multisig so they can go though. People should not expect swapping to be lighting fast if volunteers are doing it all by hand.
Could we create some kind of app where we can sign with our private keys to pledge that we will swap to gauge interest?
Perhaps beyond a certain timeframe those responsible for effecting the conversion could keep a percentage of the conversion as a fee? I would be happy to pay a fee if it meant being able to go between them on an ongoing basis.
ya I have no problem with them charging a reasonable fee if that’s the difference between them being willing to do this small chore regularly or not.
I don’t want any tokens to be doubled up. I won’t be interested if everything left over isn’t burned at the end.
Perhaps the fee for conversion would make it tenable for Maidsafe to officially oversee and administer this initiative? That said, I have no objection to trusted community members administering the conversion.
well if you are burning that’s like saying this conversion is final. I am not necessarily against that. We would need a way to switch back to OMNI though if this is just our little community trading thing, but maidsafe will only be honouring actual OMNI-MAID for the Safecoin swap.
Which is why for this to work, @dirvine would need to say he will honour them if the steps are followed as outlined.
He could even do the swap if he wanted. I’m okay with that as well.