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RE: Update: Townhall & Witness Meeting

in #steemit2 years ago

Alright. So this has some good news and clarifications at least. I'm glad to hear that the news we've been hearing of plans for a "token swap" now comes down to atomic swaps that I understand is a 1:1 pair where you always have the identical number of tokens on each chain, rather than this being some new token that we are asked to trade in our STEEM in exchange for (as many have feared). This can be cool, as it practically means that there'll be opportunities for Steem dApps to utilize smart contracts if they want to, while others won't have to deal with Tron if all they need is already on Steem. Great. That settles a lot of concerns people have had.

My main question is to what extent this is likely to benefit Steem or Tron the most? Is adding value to STEEM still the main priority of the team? Or is there now a conflict of interest where the new owners benefit more from Steemit developers helping grow the value of TRX? In that case, is the Steemit Inc stake, which is promised to be used to grow Steem, still going to be used explicitly for that purpose?

Many questions still left to answer, but at least I feel a bit better from this post.

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an atomic swap is not a 1:1 pair. it's more like a decentralized network where transaction happens when certain conditions are met which includes the exchange rate. but i dont really care how much value it's gonna bring to steem/tron. i care that it's not a token swap where justin is trying to force people to give up steem.

I dont think they even know at this point how this will work. They need to set goals they intend to complete before we can make a guess as to who benefits and how much.