But please be aware that it’s not as straightforward as paying a listing fee, and then everything just happening from there. It’s a business relationship that requires planning, support, marketing, and working together for mutual benefit. That takes time, effort and ongoing resources, both in manpower and financial.
We are building for these kinds of partnerships and a lot of work is going on in the background to that end; but it is predominantly about the future and SNT accessibility. MaidSafeCoin has a part in that, but ultimately it’s just part of a journey to a much bigger goal.
With talk of a public beta version, this Bittrex issue, it feels like we are in the unclear yet thrilling phase between the omni token and the network token on the live network.
A lot of people who I have recommended this project to where quick to buy onmi tokens.
One or two people said that it was an interesting project but will only buy when a beta version is released.
They are about to discover they should have bought sooner. It may be that they will need to wait to buy the real token, and tokens on a real functioning network are not bargain basement prices.
I did a test buy on bittrex. I used a debit card to buy bitcoin. It worked. Anyone out there who is sitting on the fence and have not bought I guess this is your last easy chance?
I’m all in for Jim and the team focusing on the future of SNT logistics and the Beta launch, rather than getting bogged down with the unexpected effort to relist MAID. With the trading volume so low, it’s unlikely that we’ll miss much action, especially since most folks are HODLing, showing their wisdom in waiting for the Beta. I reckon we’re on track to transition from this low-volume market that feels like “fighting for scraps” to a healthy, high-volume SNT market that’s as well-established as those currently sitting in the top 10. Cheers to that!
I’m sorry, but I really feel the need to address a few things mentioned in this thread. I know some people dislike my stance or may not feel the same way, but I do have a ton of experience in the field of exchange listings and have been heavily involved in getting both MAID & EMAID listed on several exchanges which makes me feel obligated to speak up.
I think Maidsafe stance in this is wrong. You and I both know, Jim, there is not a legit exchange in the world that will list omni MAID in the current state. Maidsafe is doing everything they can to comply to the laws, which I do support. But Exchanges require a listing fee for integrating an omni asset, Maidsafe can’t pay for that due to regulatory reasons. Additionally, Exchanges require you to bring a market maker, or pay for market maker services to secure both volume and liquidity. Again, Maidsafe simply cannot make this happen due to regulatory reasons. Saying ERC20 will be prioritized is continuing the give people hope that MAID might be tradable again before the network goes live or at least has made solid progress during a beta, which it will not be. I think now is the time for Maidsafe to just be extremely honest and transparent and say MAID will not be tradable in the near future on a legit exchange (HitBTC is not one of them, which I will address after this).
Stating MAID is still tradable on HitBTC is outright dangerous in my opinion. There have been multiple community members that lost funds on HitBTC because they’ve been locked out of their accounts without any response from HitBTC. Additionally, HitBTC’s withdrawal fees are a absolute scam (700 MAID) and there have been multiple users that deposited MAID to the platform not knowing about this withdrawal fee. I cannot stress this enough, stay away from HitBTC.
Sorry mate, but this message just shows that you cannot imagine there might be people in different situations. I’m with you when it comes to being a long term hodler and not having any opportunity to cash out doesn’t concern me. However, there are a ton of people on this forum who are not just here for a 0 or 100 outcome. Multiple people need to be able to cash out some for expenses in the near future, especially with Christmas coming up. Not being able to get out of your position in the future forces people to sell now at extreme discounts. I’m sure you didn’t mean to come off this way but wanted to provide you with the nuance nonetheless. I’m really sorry for all the people that need to force liquidate their funds now.
In my opinion, the Maidsafe team should come out with a clear statement which includes:
We continue to focus on network go live (which has always been their stance) and will not be involved in exchange listings.
It’s unlikely MAID will be listed on any respected exchange in the near future, we advice people that want a reliable way to exit or enter the market in the next 6 months+ to convert to eMAID.
We will have a conversation with the initiators of eMAID if the period for conversion can be extended. (I know that many of these members are 100% willing to contribute to the long term success of the network).
And as a community we should step up:
Migrate from the 0,3% uniswap pool to a 1% fee pool to support liquidity providers which we desperately need (the spread on Bittrex was far bigger than that, both buyers and sellers couldn’t care less for a 1% fee).
Provide a small piece of your holdings as liquidity in the Uniswap pool if you can to support a reliable way to enter and exit the market. This is step 1 to getting a better eMAID adoption and eventually respectable exchange listings.
Talk with some community members to see what we can accomplish together. I’ve been speaking with multiple people already that will help provide additionally liquidity in the Uniswap pool in the near future and am already looking at ways to get eMAID on CEX’s once the liquidity and volume is there.
I personally think that Bittrex leaving the market will eventually be better for the project, but we do need a strong stance right now on which direction we’re going. Continuing to speculate on possible traction omni MAID might get in the future will only slow down conversion to eMAID which is the only reliably tradable asset until SNT.
Again, this may not be the message everyone wants to hear, but it had to be said.
it has bitcoin fully integrated, it may be a day of work to configure it to work along with OMNI, i’d say worth looking into jim! ETH integration is also coming up. A btc/omni maid and xmr/omni maid would be a great addition.
Certainly, mate, you’ve got a point there, I might have been a bit narrow-minded in my previous message. I get that some folks are in different situations, needing to cash out for immediate expenses. Though Crypto, as we both know, is high risk, and investing in MAID is especially risky given its low volume and limited short-term trading access. For those folk that are playing with money they need in the short term they are navigating close to the wind.
I feel like you may have misread my post, because it feels like you are finding disagreement where there isn’t really any.
We can hope that Omni-MAID may be traded on exchanges prior to launch, while emphasising that it is unlikely.
Saying that we are prioritising ERC20 and eMAID, should can be taken at face value. I’m not sure why that would give people an indication of the opposite.
I should add we are in quite a different position now that a year ago, and the constraints, priorities and timescales have changed a lot:
We are in a late stage Alpha, and on the cusp of entering a beta period, the Swiss based Safe Network Foundation is up and running.
The Bittrex situation is pretty inconvenient, and frustrating for many people, but it presents an opportunity as well. I hope folk can look past this temporary situation, the legacy tech, and get excited about the future.
I wonder if this might be something the community might get stuck in to, if the need for Omni is there, and it fulfils a need that can’t be met by eMAID? There is a wealth of experience here after all.
I’m glad you say that, and I do feel the same way. I’ve seen you guys have hyper-focus and make good progress. The fact that I may have misread your post, makes me feel others can too. Saying you’re going to prioritize ERC20 and eMAID isn’t excluding putting effort into MAID adoption and I do feel that should and might be Maidsafe’s stance. As much as I personally like being on the Bitcoin chain, omni simply is a abandoned project and continuing to put effort in that is a waste of effort in my opinion. Let’s help people get some more information on the deadline (or extension of) of being able to convert their MAID to eMAID and encourage people to convert if they want to have a tradable asset in the next months.
I am willing to help as much as I can to get some additionally traction & liquidity on eMAID and I’m sure community members that helped getting eMAID of the ground in the first place are willing to do that too. I am however going to be a bit cautious in how far I’m going to push offering help to the Maidsafe team given the history. But know that you only need to ask and I’ll see what I can do to help.
Reducing ERC20 fees for smaller buys/sells could be achieved by a simple market maker bot between the main order book and a L2 like polygon. I have been considering providing this even before Bittrex.
eMAID gives/gave the community the ability to improve the accessibility of MAID tokens, yes there is a learning curve, but it could easily be made into something that was better than Bittrex ever was.
Are there any good DEX’s for trading MAID, to use for price discovery? Might I suggest a MAID token that lives as a Cardano Native Asset? Maybe even a Safenetwork structure that lives as a Cardano Sidechain that would look something like Nunet, until there is an MVP for the Safenetwork. Cardano and all other chains will need an IPFS style decentralized data service. As a service layer in the Cardano ecosystem Safenetwork would be able to easily make connections with other powerful L1’s like Algorand and the upcoming 4th Gen protocol Midnight which is currently in testnet. As a side chain on Cardano, Safenetwork could have the necessary runway to get to an MVP. I know the Safenetwork is not a blockchain but it could spin up something that could live on Cardano which could be a huge net benefit for both ecosystems.
Not sure if I’m being overly cautious, but I rather put the information out there anyway so people can do with it what they think is best.
Over the last few days we’ve seen many withdrawals from Bittrex, I’ve noted that the BTC balance of the Bittrex MAID address (1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru) has been going down from 0,02 BTC to 0,0015 BTC. BTC on this address is needed to perform a successful withdrawal of your MAID. Given the circumstances I’m unsure if the BTC balance will be automatically refilled, if a manual transaction by Bittrex is required and if this will happen at all. Be aware that once the BTC balance runs it, withdrawals after may not be possible anymore.
Again, this might be FUD, but wanted to put the information out anyway. Hopefully, everything will continue to operate normally.
I can confirm that currently withdrawals are no longer processing. Maybe @JimCollinson can contact someone within Bittrex to see if anything can be done, although I might expect it’s going to be hard to get in touch with someone.
