Wrapped MAID (ERC20 token)

@Antifragile

While I agree that this should have been done already, your opinion that it’s too late is shortsighted IMHO. Lower accessibility, lower liquidity, lower token price, lower funding for Maidsafe.

2 Likes

I’d mostly be afraid of bugs.

6 Likes

again though this is a risk you take putting your coins on any kind of exchange. I would think there are generic ETH smart contracts we could use and just put in our parameters so there is not like the same risk of bugs from developing it from scratch.

2 Likes

I was the one who promoted ERC-20 transition here the most in this forum 2 years ago. What I see is exhausted dirvine who has tons of problems to solve. He had to fire all non dev employees. This is another huge task he would have to take care of. But yes, I generally agree that ERC-20 token is a huge long term advantage compared to OMNI.

9 Likes

Yes, while the actual execution wouldn’t necessarily be that hard (they could even copy PDC’s method), the potential legal implications and stress concerning security would take a lot of energy.

8 Likes

I am very much against ANYTHING that could cause David any more stress whatsoever in the meantime.

12 Likes

I totally agree, I pray daily for David’s health and that is the reason to suggest community led WMAID :dragon:

With this option, we do not need David’s approval, so there is no stress on him…

So I suggest that we discuss for a few days, then vote, if enough people get together then act :rocket:

2 Likes

With WMAID this is not so. There is no risk to the MaidSafe company. The risk is for the people who exchange their tokens. But let’s be realistic. People who keep their money with others anyway (on an exchange) would be better off if their money was kept in the community party of people we have faith in.

That way, at least we reduce the dangers. There will be no danger of closing,delisting and hacking. The only danger is stealing.

But we can take action on that. For example, make an exchange (MAID to WMAID and WMAID to MAID) only once a month, with exchange requests public with a 1 week wait and a public mailing list / telegram channel to announce for any interested party to follow.

I am ex-member one of the largest cryptocurrency exchange.

So, exchanges prefer ERC-20 because of existing system. BUT they need listing fee. It is more important factor than ERC-20.

And I know exact listing fee. But it is not cheap. So, if you guys really want to list maidsafe to big exchange, donate money for listing fee. That is practical solution. ERC-20 is not solution.

4 Likes

You’re right, but you’re missing out on what’s going on right now. UniSwap currently has 80m$ on-chain liquidity! And it’s growing. Centralized exchanges are doomed…

https://uniswap.info/

1 Like

The site is down. And UniSwap needs on-line backers of both orders. Is there enough backers for maidsafe token? I dont thinks so.

Uniswap.info Status
Is uniswap.info down right now?
It’s just you. uniswap.info is up.

That’s not true. This DEX doesn’t work that way. Liquidity providers should not be online. Only the buyer / seller…

proposal: MAID listing on exchanges via community created foundation

1 Like

Do any exchanges allow a few to be recouped via a cut in transaction fees? That way both the individual/company paying the fee and the exchange benefit from trades. Successful listings would then pay for themselves.

2 Likes

So there is a good chance that big exchange is yet another scam then. There are exchanges, some of them quite big, that do not charge listing fees but that only accept quality projects. Safe Network easily passes on that criteria.

4 Likes

Agreed. Only if exchanges refuse to list OMNI should resources be channeled into ERC-20 at this time. I think the first priority should be to stop the bleeding, which means listing on high-volume exchanges.

2 Likes

The exchanges are profit oriented. So, If they don’t charge listing fees of maidsafe, there are tons of maidsafe users&traders and huge demand for maidsafe coin. If not, they don’t list maidsafe without fee.

Good tech, and qualified project are second thing for exchanges.

P.S And the exchanges don’t review all of maidsafe’s code.(It is never their priority job). At least, Fleming show real working things, they have some interesting about maidsafe. I already introduce to my friends at exchanges about maidsafe. And they want to see real active things. And I agree about that.

P.S 2 Even maidsafe is listing, if there is no enough trading volume, then they will delist maidsafe. (Remember we were delisted at Poloniex because of low trading volume).

9 Likes

sure if we can get it listed on a high volume exchange that sounds good to me and this conversation will probably die off again like it did on chainrift listing. I just see a lot of barriers to getting listed on a good exchange. Making a DEX token on the other hand has only the barrier of we need to put in effort to make it happen. I don’t think the same is true for getting listed on an exchange; it won’t happen just cause we try hard.

3 Likes

I think the key is to show people how this network REALLY work.

Then, listing, trading volume, demand for maidsafe coins etc are automatically following. (I think that this is why divide concentrate on delivery launch the network as soon as possible. And I agree that)

The team have been developing over 14 years, there is no only sexy IT marketing for maidsafe like ETH or Tron. The only break through is proof “SAFE network is really working like as their goal”.

So, let’s wait and endure this low liquidity time. We are on the last stage. Take all or nothing.

9 Likes

NO, the big exchange demand high trading volume of maidsafe. And if not they will delist maidsafe exactly same as Poloniex. The listing is not solution for this stage.

(If there is enough trading volume, The poloniex didn’t delist maidsafe. It is really easy and clear)

I think at least after Fleming, we could talk with exchange about listing to show them the Fleming network.

4 Likes