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I thought I would take a minimal resource approach to propose using a buy-monero Keybase channel to establish if there is a good demand for the service.
This proposal is to create a buy-monero Keybase channel using BSQ reputation bonds as the security deposit.
The reasons for adding a buy-monero channel on keybase are as follows:
It would allow the creation of a minimal viable product to see if there is a market for people looking to Buy XMR using fiat on Bisq.
Set up would take less than a day. Just need to write a wiki, create a channel, set up some trade rules etc
It would be a good test case for BSQ bonds (they might need a bit of development to scale this intended use case)
I think it fits in well with the other OTC use cases being discussed Sisq / Misq etc
If successful it would allow for appropriate resources to go into developing on this to be included in Bisq / Sisq / Misq etc and there would already be am established user base.
XMR/BTC is the most liquid market on Bisq. This market generates more revenue for Bisq than all of the other markets combined. Efforts are being made with atomic swaps that when/if implemented will make the future of this market, and the revenue generated from it, uncertain.
I just want to add a potential side-issue to this proposal, I think if we start using Keybase for active trading more it will become inevitable to be flagged at some point and potentially shutdown. I think for this reason and to secure a main chatting platform for bisq development we should be looking at migrating to a more censorship resistant platform, before we have to do so in reaction to something. I think Matrix is probably the best choice because of the ability to maintain our 'channels', this function is available on Matrix. Plus users can run their own Matrix instance/node and it is very censorship resistant from what I can tell. (Sorry not trying to hijack this issue, maybe I should create a new issue altogether.)
I don't see why stablecoins can't be included, as long as there is someone to take that offer. On the BSQ channel I'm open to sell BSQ for LN, liquid, RSK and I could include DOC as well.
Maybe this project has been already overseeded by the Sisq spreadsheet.
Description
Following on from my proposal to Add Monero to fiat trading pairs using BTC as the security deposit (multi-sig)
I thought I would take a minimal resource approach to propose using a buy-monero Keybase channel to establish if there is a good demand for the service.
This proposal is to create a buy-monero Keybase channel using BSQ reputation bonds as the security deposit.
The previous proposal Use Keybase to increase accessibility to Bisq for new traders with no funds for security deposit, trading and mining fees has been running well since inception a few months ago and also spawned the Buy-BSQ channel which is quickly getting adoption.
Rationale
The reasons for adding a buy-monero channel on keybase are as follows:
Criteria for delivery
The following would be delivered:
Measures of success
This is an experiment to see if there is user demand for fiat/monero trades. Success would be determining the demand.
I would propose a review in 6 months after launch.
I also think lessons from this channel could feed into the discussion about Bisq / Misq / Sisq and the use of BSQ reputation bonds as security.
Risks
The following are risks:
Estimates
This would not cost Bisq anything in terms of my time, as it could be done as part of my existing roles.
Notes
This project would not intially generate any revenue for the DAO. It would just be to see the size of the potential market.
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