Proposal “Create-the-first-DASH-gateway-on-Ripple“ (Completed)Back

Title:Create the first DASH gateway on Ripple
Owner:ggololicic
One-time payment: 150 DASH (28841 USD)
Completed payments: 1 totaling in 150 DASH (0 month remaining)
Payment start/end: 2017-05-20 / 2017-06-19 (added on 2017-05-06)
Votes: 1111 Yes / 391 No / 20 Abstain

Proposal description

Overview

The gateway integration will:
  1. Enable DASH trading on the Ripple decentralised ledger against all existing and future currencies on the Ripple network.
  2. Expose existing Ripple users to DASH.

(If you are not familiar with the Ripple network, e.g. are not sure what exactly a Ripple gateway is, we encourage you to read the introduction to Ripple near the end of the proposal text.)
Pre-proposal can be found here

Scope and Deliverables

DASH will be added to the Ripple network via integration into GateHub Fifth, one of the most prominent Ripple gateways that currently provides BTC, ETH, ETC, and REP issuance on the Ripple network.

What we will deliver:
  1. Automated DASH deposits and withdrawals to and from the Ripple network via the GateHub Fifth gateway.
  2. DASH trading against all currencies already issued on the Ripple network by any gateway: USD, EUR, CNY, JPY, BTC, ETH, XRP, ETC, REP, XAU, BRL, etc., plus currencies issued on RCL in the future.
  3. We will provide market liquidity (via market making) against XRP, BTC, ETH. Market liquidity against other currencies (USD, EUR, CNY, BRL, GBP, etc.) will follow by extension via Ripple’s integrated auto-bridging of order books.
  4. Direct exposure of DASH to the existing 100,000 GateHub users.
  5. Exposure to all Ripple network users.
  6. 0% promotional Ripple trading/transfer fee for a period of one month from launch.
  7. Basic social marketing:
  • A dedicated self-hosted blog post,
  • One e-mail announcement to existing GateHub Fifth users,
  • Posts, links, and responses to questions on forums and other relevant social media.

Existing GateHub trading interface:https://lh4.googleusercontent.com/jgEjhGbJE9aldZsYflA-reQ4qfYbUJqRhrKDgD6IRDYKKeGTH-_rFXYWQ94xUbnBKRdnKG3d8jcAKDe7ZmmlLFXPhraprIcoNOYvO-HFamc2tLAfO7aXgeASAxgxGNpAfn3H4320

Execution and Schedule

Dash implementation into GateHub platform will consist of three phases:
  1. Development (2 weeks)
  2. Testing (2 weeks)
  3. Deployment (1 week)

The work will be covered by a team of 2-3 people. The total expense consists of compensation for the team. Other costs are negligible.

Development can start within 1 weeks of the day when the Proposal is funded. Total estimated development time is one month.

About GateHub

GateHub Limited is a UK-based FinTech company. We are backed by Ripple Inc., Chris Larsen (founder of Ripple), Nejc Kodrič (founder and CEO of Bitstamp) and Greg Kidd (founder of Global iD).

Established in 2014, GateHub started as a Ripple Wallet provider, and a EUR and USD Ripple gateway. The wallet service gained significant user base in early 2016 when it became the main wallet provider endorsed by Ripple. Also in 2016, it introduced its first affiliate gateway GateHub Fifth.

Project will be developed by Gregor Gololicic CTO@GateHub and Matija Mazi (developing successful past proposal for Bitnik Reload)  , both involved in crypto community since 2012. Working on different crypto projects we gained a lot of knowledge needed to successfully finish the proposed project. 
Our linkedins: gololicic and mmazi. Also involved in the ripple community on the xrpchat forum

Why we are asking for funding

GateHub Fifth will collect a 0.3% fee for DASH trading (after the initial 0% fee period). While we project the future revenue from fees to cover operating expenses (maintenance, support, marketing), we seek additional funding to cover the initial costs of integration.

Part of the received DASH funding will also be used directly for initial liquidity (market making) on the newly established DASH markets on Ripple.

About the Ripple Network

The Ripple Consensus Ledger (RCL) is an open decentralised cryptocurrency network with support for arbitrary currencies (via 3rd party gateways/counterparties/issuers), with deeply integrated currency trading and exchange.

About Ripple Currencies and Gateways
As Ripple is an open network, anyone can become a gateway (issuer) for any currency on RCL; no permission whatsoever is needed. Gateways must, exactly like traditional exchanges, establish trust to gain users. Each user can freely choose which gateways they trust and use.

Current major gateways include GateHub (USD and EUR) with its subsidiary GateHub Fifth (BTC, ETH, ETC, REP), Bitstamp (USD and BTC), Ripple Fox (CNY), Mr. Ripple (JPY, BTC, ETH), and others. Less prominent currencies featured by other gateways include LTC, XAU, BRL, KRW and others.

Ripple also features its native currency XRP that is used to pay for network fees and required as a reserve on any account that holds state in the Ripple ledger (eg. open trust lines to gateways, limit orders, etc.).

Comparison of Ripple Gateways to Traditional Exchanges
Ripple gateways are like traditional exchanges in the sense that users deposit “real” currency with the gateway, while the gateway securely stores the deposits and credits the user with a balance (IOUs) on the user’s account that can then be traded with other users.

Ripple gateways differ from traditional exchanges in a number of ways:
  1. User owns their own account: User holds their own Ripple secret key; the gateways have no control over users’ funds when they are issued on RLC.
  2. Users’ balances are held on the open Ripple ledger (as opposed to internal exchanges’ databases).
  3. All trading happens on the open Ripple ledger (as opposed to internal exchanges’ databases).
  4. RCL features transfers between accounts (like any cryptocurrency ledger), while most traditional exchanges don’t support transfers of funds between users. Transfers include automatic and atomic currency conversion between any currencies by way of exchanging on the integrated market.
  5. Users only need the gateway for deposits and withdrawals; trading and transfers are always possible by directly accessing the RCL (even in case any or all gateways involved are down). Ripple features 100.00% uptime since its inception in 2013.
  6. Any currency on RCL is always tradable against every other currency on RCL. This requires no action on the part of the involved gateways.

Most of the points above reduce the trust required from the users to use the gateway, compared to using a traditional exchange.

Amount requested
150 DASH, one-time payment.

Show full description ...

Discussion: Should we fund this proposal?

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6 points,1 month ago
I was initially critical of joining forces with Ripple. After doing (a lot) more research, I have completely changed my mind. Here is a summary of why I changed my mind:


1. It adds substantial tools/capabilities to trade back and forth easily and painlessly between various currencies. That's what Ripple does. It's like the Babel fish if you're a Hitchhiker's Guide to the Galaxy fan. Or, it's like Star Treks Universal Translator.

2. The cost is very reasonable to get this done considering the man hours it will take.

3. These are the people who know Ripple frontwards and backwards, and the logical choice for who to get this done in a timely and effective manor.

4. Ripple is going places. A strategic partnership between Ripple and Dash will accomplish far more together than separately.

https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/
http://www.the-blockchain.com/2017/04/28/ten-banks-join-ripples-global-payments-network/

5. Some are concerned that we are paying money to a for-profit company. If it's profitable, they should just pay for it themselves. While I understand this point of view, and this point of view is not wrong, I view it very differently. You know how cool it is to buy premium tickets to get front row seats, and then you ALSO get passes to go backstage and meet the rock stars?

That's what we're paying for, premium express service. We, as a community, need to get used to the idea that we are rich. There's nothing wrong with being rich. Get used to it. Act like it. Embrace it. Raise your hand if you want to go to the front of line, instead of the back of the line!

6. Some are concerned that the end product is not an open source software product, and there is another proposal that does the "same thing" by a community member and results in an open source software deliverable. Evan even said so.

Yes, this is true. And yet, begging to differ with Evan. These two proposals do not do the same thing. These are complementary projects, and even the other open source proposal owner Akhavr wants both to happen.

This project will result in a functional gateway with support. Akhavr's project will result in software that anybody can use to open a gateway, but how many people will actually do that? And provide support? I don't know. How many Linux users are there? How many Microsoft users are there? Isn't it great that WE COULD HAVE BOTH!

What expands the Dash universe the fastest? Do both.
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5 points,1 month ago
We decided to open source part of the solution since it was so much wanted from the community. If the proposal wont get accepted we would very likely not implement DASH. I hope you see the value and reach we can have with this project.
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3 points,1 month ago
OK, I shifted my votes on that statement of good faith (though no opportunity right now for details, I understand). Hope it all comes together to complement the fully open-source solution and accelerate overall Dash adoption.
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3 points,1 month ago
That sounds good. Really hope you manage to get the needed number of votes.
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1 point,1 month ago
I agree, this makes the world of difference and I applaud the proposer for making this concession.
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1 point,1 month ago
Just now you decide this? What does it mean to open source "part of the solution"? That could mean literally anything.
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3 points,1 month ago
I voted yes, then no, then yes again after seeing akhavr comment...

"Note that I'm voting "yes" for this proposal. The Dash integration on GateHub would bring users and volume. Open source gateway (my proposal) would bring diversity. We need all three." akhavr
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1 point,1 month ago
Looks like you're going to make it! Make me proud.
And keep us updated on the Dash.org forum and/or the slack channel.
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1 point,1 month ago
Woo hooo! Open source too.
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1 point,1 month ago
I want to vote Yes for this but can't because of script error on dash Central is there any other way to vote?
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9 points,2 months ago
Voting YES.

The value here is in exposure to the 100,000 GateHub users.

This is the type of online advertising that Dash needs.

(Airshows and circuses will lead to near 100% loss whereas online crypto sponsorships like this will produce positive ROI with ease.)
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4 points,2 months ago
About 130,000 now. Our user base has been growing by over 1000 users daily lately.
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8 points,2 months ago
Guys, the Ledger Nano S hardware wallet just came online with Ripple support (XRP) half an hour ago. I successfully transferred 25 XRP out of my GateHub account. It arrived in my Nano S in less than a minute. I've been using GateHub for over a week now and it all works great. It took 9 minutes to receive a withdrawal from Poloniex. This is grandmother friendly stuff here. Tiny fees with fast transactions, hardware wallet safety and easy exchanges to Bitcoin, gold, ETH, USD, JPY and others. It's foolish for us not to add Dash to this. Let them have their private profits, everything works!
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6 points,2 months ago
I have voted yes to both but this brings access to users immediately
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7 points,2 months ago
Two further points. Ripple is going places:

http://www.cnbc.com/2017/03/01/japanese-banks-plan-to-adopt-blockchain-for-payments.html

Second, for those who are voting yes to the other open source proposal (which I agree with), who is going to actually do the work and set up and operate the new Dash/Ripple Gateways? If we cannot answer that question, then the existence of the new software doesn't really accomplish anything to build out the Dash ecosystem.

This proposal goes all the way and actually produces a functional gateway. That's the key difference.

I would advocate doing both.
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7 points,2 months ago
Yes to this proposal. AND yes to the open source Ripple proposal. More is better. More is faster.

The folks behind this proposal have lots of experience in doing this exact thing (adding a new coin to the Ripple network.) I have high confidence the goal will be accomplished. The price is not at all unreasonable for 2 professionals working for at least a month. If paying a little up front moves us to the front of the line, I'm all in favor of it.

The open source project supports people that are already in the Dash community and have experience with Ripple. Open source projects carry a very different risk/reward ratio. Evan recognizes this and likes the open source project.

DO BOTH. Both is faster. They are different and complementary paths to growing the Dash ecosystem. Asking them to work together is like asking Ford and Chevy to work together to make CheFords. This would not improve the car market for consumers. We need Ford and Chevy to work independently and encourage/force competition to improve both products.
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3 points,2 months ago
I agree more is better. Evan said the funds are used to make a portal, he is mistaken as Portals are way..way more expensive and theirs is already built. This is a feature addition really. The cost is a drop in the bucket. Kraken is not open source so by that standard people should vote yes. I do not like ripple however I am for both proposals as more uses is always better.
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1 point,2 months ago
Regarding https://cointelegraph.com/news/dash-to-ripple-gateways-heading-to-market-altcoin-watch one of the two projects is NON open source.

What is this one please, Open Source / Non Open Source?
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1 point,2 months ago
This proposal is not open source.

Please note that the this proposal will *also* deliver everything that the article quotes as the open source project's deliverables, plus gateway operation (no separate proposal needed), and more (perhaps most notably, an existing large user base and support for trading/payments in the Ripple-endorsed GateHub wallet).
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5 points,2 months ago
Comments by Evan Duffield about this project which he doesn't recommend doing and the other one which he does:
https://medium.com/@eduffield/ripple-gateware-fcc377db8e04
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4 points,2 months ago
Note that I'm voting "yes" for this proposal. The Dash integration on GateHub would bring users and volume. Open source gateway (my proposal) would bring diversity. We need all three.
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4 points,2 months ago
We also fully support akhavr's open source proposal and are eager to cooperate if both Ripple gateways are implemented. At the very least, we will provide market making between the two (or more) DASH currencies on Ripple, effectively making them interchangeable and thus enabling the synergic effects mentioned elsewhere.

It is our opinion an open source implementation, while definitely beneficial, will not, on its own, attract many users, thus limiting the benefit to the DASH community.

Please note that the open source proposal itself in the very first sentence considers itself "a complementary proposal" to this one.
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4 points,2 months ago
Anyone can build a Ripple gateway, and we (I’m one of the GateHub Fifth founders) encourage everyone to try. We don’t see additional DASH gateways as competition at all, but rather as having synergetic effects due to new markets opening, the added ability for users to quickly transfer funds between gateways, the added ability to withdraw funds if one of the gateways is down, etc.

Please note though that setting up a successful Ripple gateway entails very similar effort as setting up a proprietary cryptocurrency exchange: the main hurdle is attracting volume and trust from users. It’s *not* simply about developing the technology. If you check out the data at https://charts.ripple.com/ you’ll notice many gateways that obviously have all the technology, but negligible volume. GateHub has already gained trust from many users as we have about 100.000 users currently.
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1 point,2 months ago
I have changed my votes with this information that was brought to light.
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1 point,2 months ago
What information was brought to light? Evan Duffield's post merely states the obvious truth that an open source solution has its merits if compared to a proprietary one.

While this argument is valid, please keep in mind that if the goal is create a useful DASH service that has a meaningful user base, having it backed by a company also has its obvious merits.

In the early years of Bitcoin, I've seen several open-source Bitcoin exchange project started. I don't see any of them even running today. The GateHub proposal gives all the benefits of a proprietary exchange, plus the significant added benefit of users having full control of their keys for trading on the open ledger.
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0 points,2 months ago
I must correct myself: there is one successful open-source crypto-currency exchange running today. It is the Ripple network itself.
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0 points,2 months ago
There has also been a productive discussion on this proposal the Pre-proposal forum (but please continue the discussion here, linking to the forum if necessary):

https://www.dash.org/forum/threads/pre-proposal-create-the-first-dash-gateway-on-ripple.14721/page-2#post-125366
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0 points,2 months ago
I am voting abstain because while in general, I like your proposal I think you should try to work with akhavr and his OpenSource version of this. If you still need a small amount of funding to integrate that I would vote yes for such a proposal.
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1 point,2 months ago
Please note my comments elsewhere (TL;DR: to be successful, a gateway requires users which GateHub already has; nevertheless we'd love to see other DASH gateways on Ripple).

As for the funding amount, it is set to cover the expenses of two people working for a month on the integration.
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2 points,2 months ago
I will be voting yes because I see the benefit of having a Company behind this. I just hope that you will try to work with akhavr where possible.
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3 points,2 months ago
Please explain who will actually use gateway for Dash
1)Who will use this Gateway ?
2) Why should users trust your centralized wallet ?
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2 points,2 months ago
We already have over 100k users trusting our platform. The amount of trust from users here is much less than in any other exchange since we do not have the access to the users wallets and they can trade even if we go offline. If users trust hosted exchanges they will have no problem trusting decentralised exchange.
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0 points,2 months ago
In what way is your exchange decentralized ? I can see where clearly you need to setup an account on your exchange, and to again access I need to log in to your site.
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1 point,2 months ago
All trading (and IOU transfers) happen on the open and decentralized Ripple network. Users own their Ripple account secret keys and can use them to trade and transfer value directly on the ledger by connecting to any publicly available Ripple node (or setting up an own Ripple node). Gateways may facilitate this process, but are not required for it. The function of the gateway is only to deposit and withdraw funds.
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0 points,2 months ago
GateHub Fifth will collect a 0.3% fee for DASH trading (after the initial 0% fee period). While we project the future revenue from fees to cover operating expenses (maintenance, support, marketing), we seek additional funding to cover the initial costs of integration.

Why would pay for something like this ? Did you even ask this fee from a very niche market REP serves ?

I think we should work towards building our own RIPPLE gateway. At put the 0.3% per month into the masternode owners pockets,. and also put money aside in education people that Ripple is really no good for users that wish to become there own bank.
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0 points,2 months ago
We integrated REP before REP even went live on the Ethereum network, as an attempt to provide the first liquid price discovery for REP. There were no other liquid REP markets at the time. Unfortunately that didn't catch on as well as we would have wanted it to; GateHub Fifth was very young at the time with not so many users. The profits from REP trading unfortunately never covered the integration costs.
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0 points,2 months ago
Anyone can build a Ripple gateway, and we (I'm one of the GateHub Fifth founders) encourage everyone to try. We don't see additional DASH gateways as competition at all, but rather as having synergetic effects due to new markets opening, the added ability for users to quickly transfer funds between gateways, the added ability to withdraw funds if one of the gateways is down, etc.

Please note though that setting up a successful Ripple gateway entails very similar effort as setting up a proprietary cryptocurrency exchange: the main hurdle is *attracting volume and trust from users*. It's *not* simply about developing the technology. If you check out the data at https://charts.ripple.com/ you'll notice many gateways that obviously have all the technology, but no volume. GateHub has already gained trust from many users as we have about 100.000 users currently.
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1 point,2 months ago
Proposal to fund an open source ripple gateway https://www.dashcentral.org/p/OpenSourceRippleGw

@ggololicic - I don't mean to highjack your proposal thread, just wanted to make clear that (a) there's a ongoing project for this and (b) those proposals are complementary, not competing.
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-1 point,2 months ago
We have this fee for REP markets of course.
I encourage you to start a gateway on ripple, more gateways better the network in which we see the biggest value.
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0 points,2 months ago
So REP payed 12500dollars to gain acces to your gateway
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-1 point,2 months ago
I meant we have the same fee (0.3%) for REP trading pair. REP did not have this funding program as Dash has. I think that is what makes Dash better and we can see many great projects starting here.
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0 points,2 months ago
I find it highly disrespectful form your end, you first implement ETH token with a limited use case aka REP, and do not ask for anything that, yet a coin such as DASH has to pay ?
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0 points,2 months ago
We integrated REP before REP even went live on the Ethereum network, as an attempt to provide the first liquid price discovery for REP. There were no other liquid REP markets at the time. Unfortunately that didn't catch on as well as we would have wanted it to; GateHub Fifth was very young at the time with not so many users. The profits from REP trading unfortunately never covered the integration costs.
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5 points,2 months ago
I want to pay for it because I want it fast. Other people are saying similar things. Speed is everything right now.
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1 point,2 months ago
Ripple is getting tons of new users currently due to the recent surge in price of XRP. Being the main Ripple-endorsed wallet and gateway, GateHub is getting a substantial share of these new users. All of these users will be exposed to DASH through this proposal.

Not getting funded here will push DASH integration down the priority list, thereby postponing the decision whether to do it for months, and then it may never happen as there are always new things to do in crypto.
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0 points,2 months ago
Thank you
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2 points,2 months ago
Friends, It's so easy to vote to spend someone else's money. That's what the governments do to their demise. Does anyone have enough knowledge to independently verify that the work required to get this done is worth the equivalent of $16,000. Some how, some way we need to get a grip on this.
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0 points,2 months ago
There will be two people working on this project for one month. At the time of the proposal that was 15k$ which is 7.5k$ per person. After the taxes that is aprox 3.5k$ per person for one month of senior software developer work.
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-1 point,2 months ago
No. As Ripple to be traded for Dash very easily this proposal is nothing more that paying for advertising on your website.
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0 points,2 months ago
I must correct you on this one. Ripple can be traded for Dash on traditional exchanges, but it is not traded on the open ripple network. Please note that ripple is not just a currency is also a network (like bitcoin).
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0 points,2 months ago
Please note that Ripple is not like bitcoin. You can not own your own wallet, only if your a big company or a bank can you become a full node. there is no option to become a lite coin or something similiar you will have to buy your ripple in node that you think is trustworthy.
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0 points,2 months ago
Techically it's not correct: I'm not a big company or a bank, yet I run a full node and a wallet.
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-1 point,2 months ago
Techically you are correct akhavr.

But you can just sent USD, or Euro from you ripple node, nor can even exchange your ripples to USD on your node.

you'll have to go to an exchange for that, which so cleverly is called an Gateway.

People can very easily misunderstand these differences, and I don't like it when people try to trick other people in this fashion
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0 points,2 months ago
Unfortunately, this is not correct either. Users can exchange or send any funds (issued by any Ripple gateway) via an API, or a stand-alone client, by connecting to any Ripple node. The users own their Ripple secret keys that enable them to do this. Users don't need to visit any gateway in particular to trade or transfer funds.
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0 points,2 months ago
Mazi your making it sound like thanks to ripple, fiat has become decentralized, and you no longer have your bank account with a bank. Simply sent up a full ripple node and you don't AML or KYC either obviously than

In other words ripple made banks unneeded, and the need for other crypto's unneeded.
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0 points,2 months ago
I did not say ripple is like bitcoin and I know the differences. However I must correct you that you own your wallet on ripple. And you can become a full node without being a big bank, just like on bitcoin. I encourage you reading more about ripple.
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0 points,2 months ago
Exchange or on the ripple network, a Dash/Ripple trading pair is a Dash Ripple trading pair. Why should I care if it is on the Ripple network?
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1 point,2 months ago
Its not only Dash/Ripple pair, is all the pairs on the ripple like Dash/USD, Dash/XAU, Dash/ETH, Dash/BTC, Dash/XRP, Dash/EUR etc. Any new pair added on the ripple will automatically be traded against Dash. That is advantage, but more importantly Ripple has advantages over traditional exchanges as mentioned in the description.
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-1 point,2 months ago
That's not true, trading pairs could be setup on other exchanges as well if they want to.

I don't like your tricks ggololicic, I can only hope other MNO's will see true them as well !!!
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0 points,2 months ago
What ggololicic meant to say is that when in the future any Ripple gateway adds any new currency, DASH can immediately be traded on Ripple against this currency, with no added effort from any of the involved gateways. (Basically, users can enter orders between any two currencies at any time.).

This is in contrast with traditional exchanges where each pair has to be added individually; e.g. if Poloniex lists an new coin XYZ, this will not automatically enable trading on pairs XYZ/DASH, XYZ/FCT, etc., whereas on Ripple it does: against *all* currencies from *all* existing gateways.
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-1 point,2 months ago
No you have type in the code both times, with the difference that it's in the core software of ripple.
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1 point,2 months ago
My concern is that we are spending Dash budget to enhance the Ripple network not recognizing that is someone in the Ripple system had interest /motivation re: investing in Dash there are numerous ways to do that at this point.
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0 points,2 months ago
People will need to deposit DASH at some point which will benefit the network I believe.
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0 points,2 months ago
Why would we want to give users a bad expercience by letting them deposit DASH into a full wallet you control. Crypto currency is about becoming your own bank. Not giving banks control over your crypto.
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0 points,2 months ago
That is the thing, on ripple users have total control over their wallet. We only can provide the tool for them to use it but there are other wallets which you can use without any providers (such as open sourced ripple wallets). That we see is the greatest advantage over others.
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0 points,2 months ago
So if your wallet/node goes offline its possible to import private keys into a different node ?
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0 points,2 months ago
Yes. Users can always move and trade their assets held on the Ripple network without the requirement for any of the involved gateways to be online. Gateways are merely entry points to the Ripple network (for deposits and withdrawals); however, if one gateway goes down, it is possible at any time to trade a gateway's issued assets for other gateway's assets and use the other gateway for withdrawal if necessary.
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3 points,2 months ago
i also dont like paying for it.... but, im a yes. ill vote to fund anything that increases liquidity. Ripple is bigger than us, ill pay to join the bigger boy club.
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0 points,2 months ago
Ripple value is highly inflated, Ripple labs holds more than 60% of the total coin supply !!!! That's has a high marketcap does not mean it has a higher use case.

We should not create a self for filling prophecy, for Ripple either.
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0 points,2 months ago
Thank you
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1 point,2 months ago
We can all benefit from integration across the cyptosphere. Is that a word? It is now. Vote yes
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0 points,2 months ago
Thank you
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2 points,2 months ago
I used Ripple for about a year before they were fined in 2015 for violations of the Bank Secrecy Act. Whether you consider this a legitimate law or not is another matter. Everything worked very well. I was a little disappointed in the very low trading volumes for gold available. A look at the current gold trading book shows only about $5,000 of close bids and asks with just $157 traded in the last 24 hours. Other cryptocurrencies show impressive 24 hour trade volume: Bitcoin $300,000, Ethereum $400,000, USD $71,000. I only left because I was afraid the much more rigorous Know Your Customer rules would drive away most of the users. I'm certainly willing to expand my Dash market making from my current 3 exchanges to include Ripple. Making Dash available to the banks on the Ripple system is a big positive. I'm a yes.
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0 points,2 months ago
Thank you
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1 point,2 months ago
I do like being added to the ripple network but I also know that none of the other coins needed to pay $15,000 to join in on the fun which I see as unjust. If they see us as a revenue stream they would add us with or without funding.
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0 points,2 months ago
For a small start-up exchange, integrating a new currency is always a risky game. It takes precious resources that could be spent otherwise, but the trading might not catch on. What we are trying to do here is mitigate this risk with DASH. Not getting funded will push DASH integration down the priority list, thereby postponing the decision whether to do it for months, and then it may never happen as there are always new things to do in crypto.
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1 point,2 months ago
I understand your concerns about the proposal if we then implement other currencies for free. I can say that looking at our history of supported currencies it is obvious we do not add them very frequently (maybe one per half a year). Reason for this is when we add a new currency we take the time for providing liquidity, marketing and support for it and to give it time to grow. After the bitcoin implementation we have come to a time when we are deciding for a new currency and because DASH is the only promising currency (in our opinion) offering this incentive funding program we decided to try to get funding and mitigate the risk of implementation. I think DASH can benefit from this even if our business is meant to be profitable. There are other currencies offering revenue stream and DASH is the only one offering us funding to mitigate the risk that is what I think a great strength of DASH.
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1 point,2 months ago
Voting YES.
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0 points,2 months ago
Thank you
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0 points,2 months ago
Interesting budget proposal. You have my yes votes.
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0 points,2 months ago
Thank you
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