Community Exchange Listing Fund

[krnelson]

@JimCollinson

But this is why I make the point about Maid being the temporary solution. It will likely be about for a bit after the launch, sure, but ultimately the transition will be to native SN tokens. And I would think it would be natural territory for DEXs really.

This is why I make two points below about why Maid has a good chance of not being as temporary a solution as (we all!) hope it will be:

1. SN tokens will not make it onto existing DEXs: but that is not unusual. DEX technology all operates solely with the technology it is built on. OmniDEX for Omni coins. Uniswap for ERC20 and newer Ethereum standards, each project to their own. There are some cross chain swap projects but they have not really proven themselves AFAIK, and the SN is no plain chain project anyway so chain swaps are probably unfeasible. So If we are talking DEXs for SN tokens it will have to live on the Safe Network. How far away do you estimate decentralised execution on the Safe Network? Then stable coins variants would have to arrive on the Safe Network so there is something to actually trade against. Then localbitcoin type network would have to spring up worldwide so people can move fiat to SN tokens/SN stable coins. All of this will take time.

@JimCollinson

We can , and will, make the APIs very easy to integrate with. In fact, straightforward enough that it won’t just be limited to traditional exchanges either.

2. Since FATF started throwing their weight around, I know of no traditional exchange that has listed a privacy coin as a new trading pair. Some CEXs have not unlisted the privacy coins they held before the new rules were drawn up, but many others in more “progressive” jurisdictions have. Whole counties like Japan and Korea have gone on the war path with the FATF rules purging privacy coins from their shores. Given the trajectory I suspect It is only a matter of time before they all fall in line with FATF rules, the stakes are high for FATF and they raid CEX offices with guns.

So under the possibility that no traditional exchange is willing to touch SN tokens due to FATF rules (mostly proven), and a native SN DEX and localSNToken network could be a while off (speculation), then in that future MaidSafeCoin could serve as an important hedge, liquidity conduit and bridge at least until the Safe Network has its own self contained DEX and ecosystem. The ideal flow (in my own fantasy world) would be: Maid-ERC20 can be bought on $50 billion gorilla DEX Uniswap using Ethereum and elsewhere. Maid-ERC20 is sent to a smart contract that returns SN Tokens (The same contract that is required for transition from Maid to SN anyway - adios Omni). Happy user goes off to use the SN with their new SN tokens. The reverse could possibly need to happen, maybe: SN Token to contract returns Maid-ERC20, happy user sells Maid-ERC20 for Ethereum on 50 billion DEX then to fiat on localbitcoins/CEX and uses cash to upgrade their SN node server, buy hard drives. This relationship winds down when execution, DEXs and stable coins arrive on the Safe Network.

Jim your previous comments over the years lead me to believe that you do not consider that the scenario I lay out above as likely, but from where I am standing this is the modal outcome given what is going on in decentalised space today. I’d love to hear your counterpoints on why I have the probabilities wrong, (I want to be wrong). The best although woefully underwhelming argument (not from you!) that I read the last time this was sort of discussed was along the lines of: “The SN will be self contained and we don’t need no conduit bringing in the decentralised devs and liquidity from where it currently resides”. I am all for self contained, but the stable coin and decentralised fiat bridges take time to build out.