Trade Omni MAID tokens as NFT

Autonomi Network Token (incl (e)MAID)
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I came across this in the Omni telegram group, it seems that with EmblemVault you can create a crosschain wallet inside an erc721 token (NFT). It supports Omni blockchain. So you can trade MAID for some other token(other chain) via a NFT.

DesktopCommando, [23.09.21 19:44]
At end of the month there will be a Omni chain swapping service for 2500+ crypto’s- without wrapping

Paden Moss, [23.09.21 19:45]
[In reply to DesktopCommando]
That is excellent! Where may I learn more?

DesktopCommando, [23.09.21 19:48]
It’s a Emblemvault project - Omni layer is already on the app - we use NFTs to trade external blockchains, been using opensea which isn’t really good for an exchange - but our own is due at the end of the month

DesktopCommando, [23.09.21 19:48]
Means that you can swap Omni (whilst remaining on its own blockchain) with other chains

Paden Moss, [23.09.21 19:55]
So collections of assets can be represented by one NFT on opensea as ERC721: How do I transfer one asset from one collection in an NFT to another non-ERC721 chain?

DesktopCommando, [23.09.21 20:03]
Our ERC721 generate a blockchain address you send the amount to it and state what you want in return - the buyer fills theirs up with the requested crypto and you swap NFTs - 1 for 1 - claim the content and get the private keys to import onto the native currency wallets

DesktopCommando, [23.09.21 20:03]
https://youtu.be/OkUqJbx7S1s

DesktopCommando, [23.09.21 20:04]
This will help understand it

DesktopCommando, [23.09.21 20:07]
But means Omni layer and it’s tokens can trade with any others on the app

Paden Moss, [23.09.21 20:17]
Very interesting way to provide cross-chain liquidity by trading private keys in an NFT.

DesktopCommando, [23.09.21 20:23]
This way no need to provide Liquidity for a DEX - as you hold the funds in your NFT

DesktopCommando, [23.09.21 20:23]
Also no front running

DesktopCommando, [23.09.21 20:23]
If you want to swap 1 bitcoin for 1 Omni - you can

DesktopCommando, [23.09.21 20:24]
If they are daft enough

DesktopCommando, [23.09.21 20:26]
We are also listing every blockchain for free, so the pairings will get bigger

Some more info

a NFT with MAID

I am not really into this NFT stuff, but maybe other people find this interesting (as a MAID trading alternative)

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If I understand this correctly; a private key is generated and encrypted and stored in the “vault” while the public keys remain public. Anyone can view the balance and transfer funds to the vault, but only the owner can claim the content (and get access to the private key).

How does that work? How is the key generated and how is it unlocked? The website is pretty sparse on documentation.

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There is some little info here:

The Emblem Vault tokenizes the ownership of crypto wallets/addresses. Usually, when a wallet is created, the user is given a private key derived from a seed phrase — therefore, the user could never transfer ownership of the wallet/address trustlessly. However, when an Emblem Vault is created, the private key is never revealed to the user. Instead, it is sharded, encrypted, and will be stored using Torus Key Infrastructure. Torus Key Infrastructure is a decentralized non-custodial PKI infrastructure that is maintained by users themselves and large stakeholders in the blockchain ecosystem. Keys (or user accounts) are managed by multiple authentication factors, threshold of which gives access to the account.

1 Like