MaidSafeCoin (MAID & eMAID) - Price & Trading topic (Part 2)

Bux has mentioned that SNT conversion will be supported by multiple exchanges. That most likely means 2 things:

  1. We’re getting an additional exchange before launch
  2. The effort isn’t wasted as the exchange will simply be part in the conversion and offer the network native token after.

The fact is, the more important the exchange is, the less the Autonomi team can mention untill it’s actually announcable.

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I think the fact we can stay above $0.40 without a decent listing probably means we’d be well above $2 with a Binance or even Huobi or Kucoin listing. Coinbase would probably get us closer to $10.

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I hope you are correct, @Mightyfool, and I think @ari’s above comment is probably directionally true. Beyond price appreciation, it would give more people more comfort in getting onboard.

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One of the drawbacks unfortunately is that it seems most people who have (e)MAID are holding and this reduces the availability of (e)MAID for trading and others buying. Hopefully this improves as we head for launch and the (hopefully) higher price will have the large holders release some of their holdings.

We’ll be able to get an indication when we see more MAID being converted to eMAID.

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Yes, this is also definitely true for me. I didn’t hold these coins for all those years, plus go through the hassle to convert to Emaid, to then simply sell at fifty cents… Maybe once we’re at $2, I’ll sell some, but still it will only be a percentage of what I own.

Can it be that most holders think like this? So even if (e)maid is listed (before launch) on the largest exchanges e.g. Coinbase, Binance, Kucoin etc. liquidity remains low until price increases? Last time I tried to help and provide liquidity (altilly…), i got scammed and lost my coins :joy:. Anyway, considering all that is planned for the coming year, price will most likely rise.

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On the topic of adding more exchanges after going live: Does anyone see an issue with technical obstacles adding the DBCs and wallet management to the internal exchange APIs from a technical standpoint? As we are the first to use these (or are there others?), there surely is higher costs for exchanges compared to a new standard ERC20 token.

It’s a fair point although I imagine exchanges will have an easier time integrating since there’ll be no need to pay fees to sweep balances for all user deposits. On eth gas it’s a nightmare and for btc it’s not much better if you have a wallet with tonnes of inputs. Costs really ramp up. Also no need to interact with all the token smart contracts, just a simple autonomi token to deal with.

Assuming an exchange has decent key management then it’s just a case of generating a bunch of key pairs and autonomi will support multi sig etc too.

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Indeed, I did not take the lower running costs into account. Interesting point you made. I just saw the intial step to integrate a new token which works completely different to existing ones as a potential problem. The main reason why many wanted eMAID was the assumption that it would be easier to get exchanges on board (and being able to use DEX). Omni protocol was seen as a hurdle for exchanges. With the DBC the situation would not be any better than with Omni now.
But I guess we will have to wait and see…

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I would expect though that once they install the client then its simple issuing CLI commands to create a users wallet for their account and create a cold wallet.

For deposits the user sends to the wallet the exchange set up for them, the exchange uses the CLI to scan the balance, once the token is there they credit the user’s account in the trading DB, and move the tokens to their cold wallet via the CLI. To withdraw to the users own wallet is a CLI command to send tokens and debiting the users account in the trading DB.

I would expect that is a whole lot simpler than OMNI tokens and even BTC because there is no coin Node to maintain (to save on fees and not rely on 3rd party nodes). And for ERC20 or ETH again no need for maintaining a ETH node or smart contracts either.

Just simple CLI commands that can be wrapped by a script to do the major work. Key security is as simple or simpler than for crypto block chain.

That is my take on it.

The hard bit is the scripting to do that process.

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Ideally there’d be some sort of websocket/RPC approach to receive notifications of balance changes for watched addresses, otherwise may have to poll many wallets this way

At this time there is nothing sending any info on sends to the receiver. Remember no servers

So maybe the exchange needs to allocate resources to do this polling. One way to ease the load is the user themselves tells the exchange software of their deposit, then the exchange can poll that address once a minute for a set time.

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I dont want to be devils advocate really as I really want the project to succeed. However I would not underestimate the pushback of companies to do a “one off” if the return is not clearly there.
Even if the actual implementation is just a bit of scripting, for an exchange that means:

  • Setting development ressources on the project
  • Testing
  • Documentation
  • Training to handle and maintain the integration
  • Support

  • This means its much higher costs than just a few clicks to add the 1001th ERC trading pair.
    And this all for one new token with historically super low trading volume? I really think we will face high onboarding fee requests with the new token.
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Exactly. This will be the work of the promotion team to work with the exchanges to firstly convince them of the worth and secondly provide technical assistance if needed.

I’d say testing is the biggest factor, the most work. But since there is no need to work with blockchain NODES and the challenges of that but instead having high level interface the code base should be a lot smaller to interface with their existing systems.

The interface using APIs or CLI is high level and very little processing power needed. None of this accessing a 100GB database that blockchains are, in order to just verify a balance and transaction is valid.

But all in all my estimation is that it will be a lot simpler than it was for them to implement an interface for ETH itself.

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I guess the incentives will be a share of the genesis tokens since some are allocated for ecosystem developments

Don’t forget though they also will be charging fees for deposits and withdrawals. To cover their processing costs (compute and development) and make some profit on dealing with the token on your behalf.

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Non of the fees will go to the cost of actually sending tokens back to users will it?

Exchanges are going to love not having that extra expense.

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Their costs are operational costs and their dev costs

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There are some coins with no transaction cost but only limited exchanges with 0 withdrawal fee like CoinEx.

I’m just hoping we can get on an exchange that allows US MAID/EMAID :soon: ANT holders to transact.

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