Oasis without banking infrastructure (no more fiat): Monero and Bitcoin

Feedback
#1

How about recycling Oasis (which I remember to be a “Open Asset Swap Interaction Scheme”, so not necessarily fiat money related), as a tool to convert cryptocurrencies only, among themselves ?

No banking license would be needed.
No questions to be addressed, no people to be convinced.
All you need is to find a crypto liquidity provider (it should not be that difficult).

Which coins could actually bring real organic demand for this tool ?
Monero (XMR) and Bitcoin (BTC).

If you make this tool, it would definitely create BIG waves within the crypto sphere, as people could be able to swap XMR/BTC in a permissionless way, secured by HTLC.

I get that the guys at MICA could always find something to object, but the tool would be permissionless and not strictly hosted in Europe or advertised to europeans.

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#2

Just some thoughts:

Starting with this news that Uber is exploring stablecoins to streamline global transactions (https://www.proactiveinvestors.com/companies/news/1072568?SNAPI), following points come to my mind.

  1. In which way could Uber profit from an Oasis fiat-stablecoin-bridge (Oasis as a company fitted service) or from Nimiq’s browser-first concept?

  2. Possibly the way of thinking about Oasis should be changed to Oasis as a product / service (so Nimiq could charge a fee). For that, Oasis needs to close gaps where a global transaction crypto/fiat – fiat/crypto is processed. Couldn’t a bank using Oasis as a service like the on-ramp of Visa, just with lower fees?

  3. In principle, wouldn’t it be possible to sponsorship the banks’ asked fees for the roll out of Oasis? Which companies could have an interest in reaching crypto savy customers with ads while the payment is processed?

  4. Instead of Uber, couldn’t Coinbase, Kucoin etc. profit from Oasis? Outside of their platform it would mean, more possible customers as people would own more crypto (advertising the on/off-ramp). Inside of their platforms Oasis could become another (cheaper) gateway compared to current credit card options.

#3

I want to revamp this thread.
As we see from the explorer, Fastspot serves customers for less than $2k/day.
With the small fees collected, I am not even sure it justifies the cost to run this service.

I strongly suggest the Team, if they want to keep this swapping service alive, to add Monero (XMR). You would get real big money from a top-30 project, earn a lot of fees, and bring visibility to Nimiq. The swappers would have a clear goal in mind: privacy. That’s a solid use-case lots of people are ready to pay for.

https://nimiq.cafe/dashboard

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There are some existing attempts going on around this, but none fully completed and succesful.
If you make it for real, you would make waves in the cryptoverse and, I can put my hand on the fire, get a lot of market capitalization on Nimiq.

1 Like
#4

I agree with this proposal.

#5

What about legal issues when you want to operate as the most accepted crypto currency?

I’m sure the team would love to integrate XMR (just search for “Security” on Nimiqs Team page The Team) and you will see there are some Security freaks in the team.

But combining KYC free XMR swaps with Nimiq could become a threat for legal partners like Bluecode.

Maybe separate Nimiq Foundation / dev team from Fastspot operations (different entity).
Nimiq could support development but not directly “run” the XMR swaps.

#6

I have to agree. While XMR is such an obvious avenue for OASIS, it will obliterate Nimiq’s legitimacy in the eyes of legislators all across the world. The long term prospects of Bluecode and other mainstream appliactions are far greater than that of Monero; it doesn’t make sense to sacrifice them at the altar of XMR. This option should only be considered if all other avenues fail, i.e. there is no hope of mainstream usage of Nimiq.