The PeerPlays Exchange Problem: Some Potential Solutions

Like the newest cool sneakers or the most popular toy at Christmas time, PeerPlays is one of the hottest currencies that you just can't buy, listed at only one second-tier exchange. Why is a token built on the graphene blockchain having so much trouble getting listed on major exchanges?

It might be the same thing that makes PeerPlays so great in the first place.

One of the most amazing things about @peerplays tokens (PPY) is the way dividends are distributed. PPY are considered FBA, or fee-backed assets, for a reason. From the PeerPlays whitepaper:

The largest percentage [of fees] is distributed at regular intervals into the accounts of Peerplays core token holders as profit sharing. This means that core token holders receive a portion of every jackpot paid in any of the certified wagering instruments, along with a portion of the rest of the network fees.

Potentially, every few hours PPY token holders could see small amounts of a large basket of cryptocurrencies streaming into their wallet. Bitcoin, Ethereum, STEEM, Monero... any certified wagering instruments that PeerPlays allows.

What makes PPY great makes it annoying to exchanges. How can they handle such a complicated structure, distributing these fees/dividends multiple times per day?

Here are some potential solutions, courtesy of some healthy discussion on the PeerPlays telegram and some research.

Credit to PeerPlays witness @pfunk for getting the idea ball rolling.

TQS Code

The @tradeqwik exchange (part of VIVA) has an asset called TQS which does somthing similar to the PPY token. It distributes fees from a number of different currencies to asset holders. I hold one TQS and received BTC, ETH, MXN, STEEM, LTC, GOLOS, CROWNS, VIVA, VIP and more delivered into my account.

I'm still in the process of checking whether their code / script is open-source, but this could be a solution that allows exchanges to easily distribute the fees generated by the PPY tokens.

Opt-Out / Opt-In

Another potential solution would be to add either an opt-out or opt-in for profit-sharing/dividends. In order to send your tokens to an exchange, they would have to be opted-out. That alleviates a potential headache for the exchanges and allows token holders the option to trade their tokens.

PPY/PPYx

Perhaps the most elegant way to solve this issue would be the creation of an asset that is pegged 1:1 to PPY and used on exchanges, but not able to be used in the PeerPlays Core wallet. PPYx or PeerPlays Exchange Token could be automatically used in place of PPY on exchanges, but when withdrawals to Core Wallets happen, real PPY could be sent.

???

This is where you come in. As a decentralized entity, PeerPlays can't just fix itself. It needs token holders and especially witnesses to be constantly vigilant and centered on responding to issues. If you have an idea that could work, leave it in the comments, join the PPY telegram or contact one of your witnesses.

Here are just a few that are active on Steemit:

@matt-a and @robrigo of @agoric.systems
@theprophet0
@ausbitbank
@lukestokes
@taconator
@bacchist
@thecryptodrive
@aggroed
@joseph
@pfunk

Hopefully we can get this problem figured out before the dAPPs come online starting in August.