This topic may be helpful: MAID Decentralized Exchange Options
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Some stats on current ERC20 DEX market share:
and:
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What are the requirements for ForkDelta listing? Does anyone know?
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Not a lot - I listed a token on Fork Delta for <£20 in ETH a while back.
High Tx feees and general skintness stopped me doing more with it.
Tx fees are done from their peak of around two months ago.
I say look harder at it. Anyone is free to list a token on Fork Delta.
Help out with finding symbol and labeling for this erc20 maid token for the swap.
Take note that the normal MAID is on the omni protocol and in future reference you could separate the two with some simple short hand notation. E.g. omni.Maid & erc20.Maid, or oMaid & eMaid?
What would be an appropiate symbol for the erc20 token?
- eMAID
- ercMAID
- erc20MAID
- MAIDe
- erc20.Maid
- Maid.erc20
0 voters
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Amazing work. Thank you for this incredible effort. I love the way this is going to get implemented, and have only started to understand wrapped bitcoin which should have made me realise how the same could work for Maidsafe tokens.
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Thinking about how folk will search for this term (and how good or not the search features are on exchanges and wallets etc) would lead me to recommend going with a name that is led with MAID.
So MAIDe, MAID.erc20 etc.
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Yeah I agree, I think MAID.erc20 will show up in most searches, and is very clear to be an erc variant of MAID. Avoids a lot of confusion.
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Should we also consider the near future so SAFE.erc20?
While decentralised SAFE exchanges are built, these tokens could still be useful outside the Safenetwork
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Agreed! I think this format is best for search.
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Search, and also ordering. You’d want them to be right next to each other in an alphabetical list.
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I was the only one who had voted MAIDe but I switched it since it didn’t look like it had a chance. I like MAID.erc20 best and would have voted that @DeusNexus
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I am looking forward to help with me getting some Maidsafecoin i currently have none.
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I guess that smart contracts will not only be limited to Ethereums ERC20 although this will probably be the most used one. So MAID.erc20 seems best choice to me.
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We can provide users with a cross-chain swap between MAID.omni and MAID.erc20 however how we should deal with transaction fees should be discussed and see what the community deems as a better option.
The omni tokens live on the BTC network and moving them out of the swap would require BTC transaction fees to be paid. Similarly when someone receives MAID.erc20 from the swap GAS fees have to be paid in ETH.
There’s two ways that we could do this, one where the users is required to provide the transaction fees himself (1) and the other version where we could create a model where people can provide BTC or ETH for the swap and earn interest on all withdrawals (2).
How would swapping your MAID.omni to MAID.erc20 (and vice versa) look like?
The swap would generate an unique one-time BTC address that will be valid for certain amount of time.
The user can then deposit his MAID.omni to this address and the locked erc20 from the smart contract will be released for withdrawal. At that moment the MAID.erc20 will still reside on the smart contract address and it would require a certain amount of GAS fees (I think this will not change once known) to be paid and transfer it to the depositor ETH address (Metamask wallet or any other ERC20 supporting wallet). In this instance the depositor has to pay these fees and he could either top-up some address that receives small amount of ETH and is payed from. This requires the person to send both MAID.omni and ETH to the swap and makes this a little bit less fluid experience.
Swapping back from MAID.erc20 (depositing it to the smart contract address and locking it in again) would unlock the MAID.omni for the user and finally require BTC transaction fee to move it into his private wallet.
**What we could do is have the community earn interest on the withdrawals so users only need to deposit MAID.omni and directly get their MAID.erc20 to their address/Metamask. Or vice versa deposit MAID.erc20 and directly receive the MAID.omni on the next Bitcoin Block in the private wallet.
Lets say we can pay those who provide funds to pay for the swap transaction costs a % of the MAID that is converted to MAID.erc20 or MAID.omni
E.g. you deposit some BTC for swap to pay from MAID.omni withdrawls, then you would earn % in MAID.omni of the total withdrawn amount from the swap.
Those who provide the swap with ETH can receive partial amount of the MAID.erc20 that is received by the MAID.omni depositor.
Those who receive interest can always redeem their MAID.erc20 back to MAID.omni.
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I personally think this sounds more friendly to the end user and possibly appealing to the person providing the TX fees as long as they want MAID. Would those people have to put up a large amount of BTC or ETH or do they top off a TX wallet from time to time? Could it be a pool?
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Good question, well the BTC and ETH will slowly drain as it is used by transactions. Currently you pay around 360 satoshis per byte to be included in the next 6 blocks. Now I don’t exactly know how many bytes moving Omni from one BTC adress to another currently is but what is clear is that those who supply during expensive fees should earn more interest for providing more BTC or ETH.
https://www.ethgasstation.info/index.php
For converting MAID.omni to MAID.erc20 and getting it in your ERC20 compatible wallet can probably have fixed gas limit once it is know. The price however of ETH and thus GAS still changes and we might want to account for this in increase/decrease of interest that is payed out by those who supply it to the swap. Obviously I think the minimum requirement would be that the payed fee will atleast equal the amount of MAID you would normally be able to buy at market price.
So lets say someone has a transaction and it costs 1$, then the minimum amount of MAID that would be distributed to those who supply BTC & ETH would be >$1. You will always accumulate MAID for a discounted price and benefit from providing liquidity to the swap.
Ideally we could also have users select their own transaction time so they can pay higher fees (more commission to fee providers) and faster withdrawal times for them.
E.g.: Receive your MAID.erc20/MAID.omni within next 3 blocks you pay, 3% interest, in next 6 blocks you pay 2.65% etc.
However we should also figure out what has to happen in case the fee pool (that pays for the transactions) is drained to 0 or if fee providers withdraw all their funds.
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This part didn’t quite make sense to me because a BTC address never expires. I guess the address is only monitored for a deposit for a set period of time? If the transaction is sent after that time the deposit will effectively be lost?
If you ever used any payment portal where you pay with bitcoin they always provide you with a unique address so they know when it is fullfilled. It shows how much time is left, how much is received etc.
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To my understanding this is only time limited because the payment portal will convert the crypto payment to dollars and the payment portal must not be exposed to too much price fluctuation. In a 1:1 type situation like MAID<ERC20>MAID there’s no need for an expiry. Maybe for administration purposes so you can eventually stop having to monitor that address, but I can’t really see any reason for an expiry.
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