@Complex
Have you wrapped other coins before and how would you do it?
There are multiple ways to accomplish this, Directly on the ETHVM gives it a higher value vs a subvm from another community like polka or another platform where you can create wrapped assets and other things within the virtual machine. i have experience in the past coding older coins, so i already know most of the ETH commands. if anyone has any proposals as to which subnetwork besides eth to VM in it can be completed as a parachain wrapped token asset under say polka or REN etc
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I’m happy, this is what I was looking for for a long time for BTCZ
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Small correction to the funding poll. With current BTCZ price even 12 ETH is too much for the VaultZ, so if approved we will rely solely on Community donations for GAS/ETH payment.
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It is true what you say, but I always considered myself a born optimist and I am sure that when paying for gas, the price of BTCZ will exceed what we need to pay💪
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the benefits outweigh the costs, look at everyone elses stuff as an example
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My point is there isn’t enough ETH in the whole VaultZ even to cover this massive fee, so there is now way this is happening. Who here is willing to voluntarily contribute ETH to this?
Correct me if I’m wrong, we currently have a little over $ 27,000 in vaultz. How much more does it take?
BTCZ community you have to vote, for Yes or No but you have to vote. You have to show that you are committed in every way.
@cryptorex isnt this wrap method against our whitepaper?
On that case the proposal is invalid
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Double post so i insert original here and close that.
https://forum.btcz.rocks/t/wrapping-btcz-in-an-erc-20-token/1650/20
Wrapping a clean object into a scam is ridiculous…
I understand @Vegan2Go your position and at the beginning I thought the same but then I realized that every project has to give alternatives to the people who make it up and each one must choose what is best for them, for me that is decentralization. For example, I consider btcz as a currency that seeks decentralization but we have centralized exchanges and DEX, each user chooses what to use and what suits him. The same thing happens with Wbtcz, it may or may not be a scam, but it is an alternative to participate in an area that has grown a lot in the last year, after which people choose whether to occupy it or not. Obvious whenever the benefit it brings is greater than the cost of carrying it out. Today I think that the cost is high but later on maybe not and it will be important to do so. That’s my stance
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We are talking about implementing a technology
As a proposal without any technical background
How it supposed to happen, who gonna be the conductor, manager of this and what are the risks and if how we can solve the risks, how much it can cost etc.
I must say work out better a proposal like this,
But not closing right now, give you time.
How do creating a wrapped representation go against the community paper? Clearly you should read it again. You’re 100% willing to spend VaultZ funds on any random unheard of centralized exchange, yet you call the ETH blockchain a scam? So what if doesn’t have such pure origins as BTCZ. Ethereum IS a decentralized network of users, mining blocks, creating dapps and using them in a decentralized way with no central point of authority.
You need to step off your little high horse and wake up to smell the DeFi!
Every centralized exchange proposal I see, you better believe I’m voting no.
WHAT THE FUD!!! Wait… wait… this could only of been shot down from lack of understanding… Complex if you see this DM me please, thanks.
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Complex was an ETH scammer though
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Reopened the topic for discussion.
I don’t really know how much the GAS fees nowadays, but wouldn’t be better to make a wrap under BSC?!
Maybe you should add more option to your vote.
@Nucashmining
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I wouldn’t dare run it primarily on ETH main chain. MATIC and not QuickSwap and BSC as well and what ever centralized L2s there are with cheap transactions fees. There’s one with ZK roll-ups, but I can’t remember which. I think it is REN, but we have to be in the top 200 market cap for their devs to run a wrapped contract.
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meaning I cannot change anything.
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