It is time for ERC20 MAID!

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@waveman352

That’s an interesting fintech perspective I hadn’t considered. If the pre-token (MAID) is more widely accessible;

  1. more people interested in SAFE tech own it
  2. more people ready to test SAFEcoin redemption and use SAFE itself as it works its way through the MVP process and verify its viability as, at least, a safe decentralized datastore.

If SAFE can safely store wealth as data, its utility as data infrastructure is implied.

Rather than adding another token type (OMNI, ERC-20, etc) taking away from development, we could try to turn this into value, beyond increasing token value alone.

Some thoughts:

  • Testnets could automatically allocate test SAFEcoin based on pre-token holdings. That would necessitate an automated method for SAFE to accept pre-tokens and redeem them for SAFEcoin. If the work is done for OMNI, adding support for ERC-20 should not require much additional effort.
  • Pre-token redemption being thoroughly tested and immediately useful on testnets would add further value.
  • Pre-token redemption could perhaps be expanded with offramp capability, building bidirectional token conversion, (“exchange”) potentially for any digital token, directly into SAFE, and that would add further value. Moreover, fees that’re typically taken by exchanges could be reduced to nothing or very low with the network using offramp fee revenue as a development bounty source.
  • The pre-token redemption process being an early case-study of both automated interoperability with SAFE, as well as proving its correct functioning, would add further value.
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