How about creating our very own Grin Exchange, designed exclusively for privacy enthusiasts like us?
Here’s the concept: our exchange will be privacy-focused, meaning no KYC (Know Your Customer) requirements whatsoever. We understand the importance of preserving anonymity, and that’s why we’re committed to offering a platform that respects privacy rights.
But that’s not all! The Grin Exchange will exclusively feature crypto-to-Grin pairs. We can start with some popular options like BTC/Grin, LTC/Grin, and XMR/Grin.
Now, you might be wondering how we plan to sustain and grow this exchange. Well, here’s where things get really interesting. We’ve come up with a unique approach that benefits both the Grin community and keeps the scammers at bay.
While we want to maintain a high standard of integrity, we also recognize that some ICO scammers are eager to join any platform. So, we’ve devised a brilliant solution: we’ll allow scammers to list their ICO tokens on our exchange by charging them one Grin Day. This way, we collect Grins for our community fund.
This is probably quite an expensive endeavor, but perhaps it would create demand for Grin.
Great idea, I used to think about building that site too but unable to do due to technical and time limitation. I’m holding 2 fancy domains for grin which suitable for exchange platform. if you want to use them, just message me then I will transfer for free.
I always love new ideas so thank you. I do think an exchange that doesn’t rely on any trust is best though, even if it is run by a good intentioned party. TO are great but anything could happen to it at any time. I’m sure most of us don’t use it as a wallet but if it went down mid transaction you would lose. That being said, I don’t think that Grin is ready for a DEX. Bisq implemented atomic swaps but no-one used it. I think Grin’s focus should now be on usability and marketing. It should be easy for a merchant to implement a payment system, and it should be easy for peers to send/receive and more people need to know that Grin exists.
With current man power of Grin, it’s pretty hard to build/maintain such big things. IMO, grin should be popular in traditional market/media for non-tech users first, like how dogecoin has been growing.
Interesting idea, but probably some issues to address:
Who would host, run and maintain the web site (presumably a website? I suppose would be even better if it was a .onion site)
Who would put up the liquidity
Who would hold the keys of the traded coins
Why would anyone use it when there already is other trusted exchanges?
Bitcoin’s payment proof is “private key A has sent X coins to private key B”. In grin you can have more powerful payment proofs because transactions are interactive - you can commit to the content as well, so “private key A has sent X coins to private key B to pay for service/item Z”. Theoretically private keys A and B don’t even need to be related to blockchain but could even be digital identity keys. So yeah, they’re imo mathematical proofs of purchases.