Sure, there are many honest people just like you, but they reside in the Ethereum space on one of the many simple mobile wallets it already has. They used one of the many simple fiat bridges that network already has to get in buying with the debit card on a simple interface. Those people just like you want to point, click, buy, and use on their mobile (when SN goes live). One of the main aims of this proposal is to give those push button it just works people an easy bridge into this project, one that Omni is incapable of providing and native SN will not be able to provide for quite some time after launch (allegedly). We want more people like you to be able to onboard!
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Iâm not taking about how much will be converted. Thatâs not liquidity.
By liquidity I mean amounts available to be bought and to be sold on any exchange that facilitates trading.
Dimitar suggests that he will help do this for Uniswap as described just above. I donât fully understand how that works but assuming he provides some liquidity, I think others will also be needed - on both sell and buy side - for this to be worthwhile. So I think this is something that needs to be put in place one way or another.
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As I said, there doesnât even have to be people wanting to buy MAID in the beginning. If there are pairs of tokens, there will be cash flow because it is automatic.
If the price of MAID / Storj changes in favor of Storj, someone will get involved in arbitrage and buy the cheap MAID.
This will raise the price of Storj in the pair and again the next selling Storj will automatically go through it. Itâs a process.
UniSwap is designed to generate liquidity and does it very, very well - $ 10 billion a month well!
Privacy. Security. Freedom
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i agree with dimitar if we want liquidity UniSwap would be great for Liquidity and getting people on the maidsafe bandwagon.
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not to mention that you get paid/rewarded for providing this liquidity in the form of fees from the person wanting to trade your pairs!
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This is true and is ok for people who want short-term profit. I donât want to sell my MAID and I plan to keep it to the grave, but to help the community I will add liquidity despite the potential for impermanent loss
(I just note that I am not rich and my contribution alone will not be enough)
Privacy. Security. Freedom
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What is advantage of this manual multisig based wrapped maid ?
In my view, the risk is really high but the return is not that much.
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Good question!
The bonus is that the community will have direct control and will not have to comply with laws that a company must follow.
One more advantage is that we will test the future exchange of Safe Tokens for ERC20 wrapped Safe Token.
It is likely that the Safe tokens will be prohibited by law and a P2P solution will be our only option for access to liquidity.
Privacy. Security. Freedom
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You can withdraw at any time, but you donât necessarily get back what you put in.
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It would be possible to bridge directly to Optimism, right? Probably better than going to mainnet, although not proven so more risky.
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I donât think we can put the ERC20 token directly there. We will have to go through the ETH mainnet. But once inside the fees will be ridiculously small. 
Traders will be extremely pleased, right @Southside?
Privacy. Security. Freedom
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I think it is important to always keep in mind that with this proposal the ERC20 version is not MAID, but a representation of MAID. So I wouldnât necessarily agree with this point.
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If it is full ERC20 MAID, ie. acknowledged by MaidSafe the Keith statement is true.
Privacy. Security. Freedom
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Multisig based wrapped token has huge risk, so I donât want to use this way.
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We are not talking about a wrapped MAID token. We are talking about issuing a full MAID ERC20 token. With the possibility if things go wrong to restore it to OMNI.
If we go through a centralized wrap, we risk if they start banning Safe tokens that the government take the wrapped tokens from the centralized company (by the way, they probably use multi-signing too)
Privacy. Security. Freedom
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Iâve already done some good amount of research into this. You proposal sounds similar to what I think however I would do the following.
- Create a front-end interface, it will be a website where people can wrap and unwrap MAID. This front-end will receive simple user data like their BTC-address to receive MAID from/to and their ETH-address to mint/burn wrapped tokens from.
- The front-end than checks if the format is valid and provides the user a timeframe to receive BTC & ETH from the adresses that were provided by the user. These will be used to pay for fees, and to optimize fees some kind of batch processing would reduce overall cost.
- Depending on whether a person wants to unwrap MAID or wrap he sends either the MAID erc20 or omni variant.
- The front-end keeps a list of the validator nodes that will receive a job to start validating whatever requests were made by the front-end. Each validator has their own private key to sign the final multi-signature addresses (ETH & BTC), to mint ERC20 (wrapping) or allow user to withdraw MAID out (unwrapping).
- When the job is confirmed by the required n-of-k validators who sign a transaction it proceeds to be included inside the block on ETH or BTC. If the required minimum is not reached the transaction is failed and nothing happens.
- These independent validators will remove the need to manually sign and process wrapping and unwrapping by people and makes the user experience more fluid/faster. Crucial is that the independent nodes are run by trusted people who know how to operate one and it should not be too difficult. The independent nodes should also have high security standard and prevent from being hacked.
Things Iâm currently doing but now limited to one node as itâs expensive to run multiple. I will provide more info on how much, how fast omnicore synchronizes on certain specs to get a general indication.
The Maidswap.io now requires people to register but we could also remove that and provide people with a transaction-id that they have to keep and easily track their progress, they just need to submit two addresses once and then pay to initiate the wrapping and distribute it to the validators.
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How can we be sure that someone will not hack several nodes at once?
I much prefer an anonymous trusted people to gather online for 20 minutes once a month and sign transactions.
So the private keys can be offline the rest of the time. It is much more difficult to hack such a system.
Privacy. Security. Freedom
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How do you know 15 of the 20 anonymous people are not the same person holding 15 private keys? See where the catch is. There has to be a core of high-trust independent members which are not anonymous because if someone has multiple keys it will be an issue.
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Well David will choose them 
Privacy. Security. Freedom
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