There’s more than one way to skin a cat.
Some ppl want and push for erc, and will use various arguments to push it.
In my mind native safe exchanges are fine and perfectly capable of doing what we need.
Trade snt to eth or btc or whatever on sn then push those coins to an cex or whatever on eth or wherever and turn to fiat.
One more step but not complicated.
Edit.
No ones mentioning the point that fiat bridges require kfc if your extracting larger amounts, and they will ask ( from personal experience ) for proof of how you got those coins,.so if you at any point passed through any anonymous coin or exchange they will likely be unable to legally transfer you the fiat anyway.
So you’re back to old btc tactics of keep the value in crypto, buy gold then sell that for fiat etc.
I generally agree, I think we’ll find ways around it and make safe <-> fiat work quickly enough on the toddler Safe Network. I was nonetheless happy to hear an actual argument for why people would be worried and think ERC20 is a necessity. I don’t think it is a ‘necessity’ still, and feel a bit like the whole exchange convo has gone to some weird/unproductive place. Feels a bit like people rooting for their favourite sports teams recently. CEX vs DEX vs Utter Chaos, who will win!?
What does “native safe exchange” actually mean? I assume you mean a DEX that can exchange Safe in a decentralised way for… what, exactly? It is highly unlikely to be fiat as AML/KYC has quickly become incompatible with any kind of privacy coin in most jurisdictions. @Dimitar has provided some examples in this thread, and I have previously referenced existing so called privacy coins scrambling to change their language so regulators worldwide do not class them as private as previously advertised.
If you mean a native Safe decentralised exchange disconnected from existing markets where new token types are created in innovative ways through pure ingenuity in order to take advantage of this new Safe Dex, then we have some historic examples to draw on: the “native omni protocol exchange”, top listing: MaidSafeCoin. A few of us held out hope that this could be where Maid could find some well deserved liquidity, yet most have never heard of it and it’s volume levels languish in obscurity. There is an argument to be made that this is due to not having any on or off ramps of note into well established liquidity pools, fiat or otherwise.
Bitcoin and Ethereum gave birth to CEXs which allowed liquidity to enter the sector mainly due to being the first and before cryptocurrencies landed in regulators sights. Today there are a plethora of new DEXs springing up but all with a common essential ingredient: bridges into the ERC20 world where billions in decentralised liquidity reside, and which itself maintains those troublesome on/off ramps into the fiat world. I believe a Safe decentralised exchange could grow to challenge that dominance but like all previous successful exchanges it is going to need a little liquidity to get there and that will certainly not happen as readily taking an isolationist stance.
Tau-Chain, a platform “intended to solve the bottlenecks inherent in large scale human communication and accelerate productivity in human collaboration”, after discussion and debate moved their Omni based token to ERC20. They did not screw around with complicated two way bridges however and took a more direct route. It will be interesting to watch how this long standing project develops from here to determine if the ERC20 conversion brings higher visibility, more developers/potential new users etc.
