To snt or maid-e?
By facilitate, do you mean literally they do the swap, or do you mean will they support maid-e?
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I mean the exchange do the work to change their system to allow the erc20 maid instead of the Omni maid. Some may do it for free, some may want paying as there will obviously be some work for them to do.
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We need solutions for people in a variety of monetary systems; not just those that move MAID. ERC20 could be part of that, but itâs would only be part of the picture. What do we need to build out further than that? To build the DEXs of the future, to handle OTCs, traditional ecommerce etc, and not just trading platforms? What does native SN need?
I realise that is slightly tangential to the topic, but things donât begin and end with ERC20. And itâs not easy for many to use.
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That would block trading of anyone who wants to hold omni maid so is not an acceptable plan.
I think a proper swap would mean that would have to happen. Omni holders can still hold until SNT swap, but wonât be able to trade.
If we went down the wrapped solution that would work more like you want.
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As I said, not acceptable.
We need another trading pair creating if both are to exist.
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That might not be for you, but that is how other projects have done it.
It also seems silly to have two traded tokens. If I buy erc20 maid on Uniswap but canât trade it on Bittrex, it gets very confusing and creates more friction.
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Itâs one thing to allow those who want maid-e to get it, which was the proposal.
Itâs a complete other thing to block anyone who wants to stay in omni maid from trading and cashing out.
You can cash out. You swap for maid-e and then sell.
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Thatâs just unreasonable.
Thatâs not whats being proposed.
The aim is to open us to more markets and a wider group of ppl, not to open one door and close the current one.
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I want to hold omni and trade it.
I have no experience with erc and have no interest in learning about it.
Iâm not against maid-e, itâs fine for both to exist.
But to close of the only markets we have and force conversion is not an acceptable solution.
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If that the case then vote no.
ERC20 is much easier to use than Omni.
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In general, if the swap from Omni to ERC20 is burning, there is no reason to ask Bittrex to switch to ERC20. UniSwap is actually bigger than Coinbase, so we donât need a centralized ERC20 exchange at allâŚ
Privacy. Security. Freedom
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To you, maybe so.
I have no experience with it and no clue how to secure funds on erc.
And the proposal wasnât for a complete swap, but for those who want to access erc to be able to do so.
Killing omni maid pairs on exchanges would leave us with 0 markets and 0 liquidity until new ones were organised, exchanges might swap to erc but that question hasnât even been put to them.
I wonât vote no just because you donât seem to understand whatâs being proposed.
And that would be great, more exchanges, more access to other ppl, Iâm all for that.
Sonder seems to not understand what was being offered / polled.
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I agree that it doesnât stop with an ERC20 token, I did not say that either, but it is the first and easiest step to get liquidity to flow into Safe Network.
It might not be easy for everyone to use, but we know for a fact that a big chunk of the $270 billion Ethereum holders, most likely understands how to use ERC20 tokens (which is another huge liquidity source by itself).
This is where liquidity has to come from in the first place or otherwise the SN token will get stuck into its own Safe Network environment. So we do need a WrappedMAID or something similar before conversion.
Dimitar makes a good point on potential censorship by CEXs, which will be avoided when you can trade on DEXs.
Also if we donât get a bridge in place, how do CEXs move SNTs back towards the Safe Network? You need automatic âburn ERC20, create SNTâ and vice versa mechanism.
Maybe I am overseeing something, but I donât see what. And if I am not, then everyone should be concerned about this.
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Just to be clear, Iâm not disputing ERC20âs attributes or desirability, just making sure we remember native integration between CEX, DEX and other e-commerce is an even bigger win.
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I agree that the jump to ERC20 must be made, rather sooner than later.
All individual motives against it (âI donât understand ERC20â or âit complicates my taxesâ) are irrelevant, in my opinion. We need to do this to get Maid on the right track. As far as I can see, Omni is the main cause of lack of exchanges; they are reluctant to integrate Omni.
If Algorand, Tether and others did it, we can do it too.
And another point; please show me any successful coins that are currently on Omni layer only. Thatâs right, there are none left. We need to move too.
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There are many pros and cons to all of the options being discussed and this has been very helpful to me. No one can predict the future, but I think we can make reasonable assumptions to help this project have long term success. I think having an eMAID (or like) that does NOT force any Omni holders to switch has benefits that IMO would greatly help this project with minimal downside. Overall, I think this topic is ready for the next steps. I suggest we move to determine real requirements to make this happen. As I read through this topic there are various paths forward outlined, but I am not sure which are credible. So that is really what I would like to understand. Then, another evaluation should happen to validate if this is an acceptable path forward.
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Sotros, can you please inform us how you are progressing with Wrapped?
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