Utopian Ideahub - The Swapsteem Idea - Live today at 8 PM UTC

in utopian-io •  12 days ago

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As per the Post by @jedigeiss, The Utopian Ideahub show is now being reinvented with new cool open source ideas. I find myself lucky to find space on its first episode, invited to talk about the Swapsteem idea. I happily accept the invitation and am actually very excited for it personally. Before the show which starts today at 8 PM UTC on Utopian discord, I will share more details about the Swapsteem project in this post.

The Swapsteem Idea

The Swapsteem idea was born 8 months ago with this Post. The reason was obvious, I reside in India where trading Cryptocurrency directly via an exchange is not supported by the central bank. So, in order to trade my STEEM, I had to take the long route of converting STEEM to BTC and then using localbitcoins.com to get the money in my bank account. I was already aware with localbitcoins business model, so I decided to implement it for STEEM. Woot, Swapsteem was born.

Where we are now

As already mentioned in our fundition campaign, Swapsteem is currently in it's invite only alpha stage. We are offering early access and discounts on our platform in exchange of SP delegation.
We also have a demo MVP in place where we test all the new features we add to Swapsteem. The Demo is recognized and whitelisted by @utopian-io as a valid application for reporting bugs.

What we are planning to do

We are comites to create a completely open source and transparent product for the steem community. We have a lot of plans that I'll mention below :

  • Use SteemSmartContracts and custom_json to put all operations on the blockchain.
  • Use Steem Engine tokens to reward our users for successful trades
  • Add more Fiat and Crypto pairs
  • Add support to trade Steem Engine Tokens and SMT

Footnote

Please check our fundition campaign and help us for the development and maintenance of Swapsteem in form of direct funding or delegations.
I am looking forward to talk to you guys at the show tonight.

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Use Steem Engine tokens to reward our users for successful trades

This would be a key thing to add. It works adding some sort of future tokens to these systems like Magic Dice is doing.