Back to: About the Maidsafe Network
6. Handling MAID and SafeCoin
Dealing with MAID and SAFE Network tokens is much more complicated than dealing with cash. This should be a guide to make things easier.
6.1 What is MAID
MAID is a “property” or token that exists in the OMNI layer on top of the Bitcoin Blockchain. MAID has token ID #3 of 750+ on following the OMNI token and Test OMNI token.
MAID can be moved between bitcoin addresses, using BTC to pay for such transactions on the BTC blockchain.
The OMNI layer is open-source and fully de-centralized.
- OMNI Wallet on-line web-wallet
- OMNI Core node with wallet (MaxOS X, Windows, Linux)
- OMNI Explorer to view transactions.
Properties
- MAID //on the OMNI layer// is not divisible so that transfers should be whole numbers.
OMNI is still being developed and updated, see for example Release v0.10.0 (April 2021)
A thread tracking all MAID transactions so far is here.
The 2014 MAID crowd sale record is here.
6.2 What is SafeCoin
SafeCoin will be the native medium of exchange within SAFE Network.
At the time of the launch of the SAFE Network, MAID OMNI tokens will be converted one-for-one for SafeCoin.
Warning: SafeCoin is NOT this.
6.3 Exchanges trading MAID
As a general rule, do not leave large amount of MAID (or any other coins) on an exchange.
Exchanges listing MAID
- HitBTC: MAID/BTC.
- Consider the high level of complaints on social media about suddenly losing access to funds.
- MaidSafe does seem to have some leverage over HitBTC though and could help get issues resolved.
- This exchange does not allow US citizens to use the platform (since 2019)
- Check the withdrawal fees before you decide to buy !!
Other places to buy/sell MAID
- Changelly
- Good option for people in the US.
MAID Exchange Graveyard
- P2PB2B: MAID/BTC; MAID/USDT
- Announcement on April 2, 2021.
- referral code referral code 17ab35c4 is embedded in the above link supporting community marketing initiatives.
- (not available anymore)
- Bittrex International: MAID/BTC
- [[https://mobile.twitter.com/BittrexIntl/status/1131613052250599424?s=20|Announcement]] on May 23, 2019 12:29pm
- [[https://safenetforum.org/t/maidsafecoin-maid-price-trading-topic/9923/6799|MaidSafe confirmation]]
- This exchange is not accessible to US citizens (see [[https://bittrex.zendesk.com/hc/en-us/articles/360001426066-FAQs-Bittrex-International-Trading-Platform-|FAQ]])
- (not available anymore)
- Chainrift: MAID/BTC
- [[https://safenetforum.org/t/maid-relisted-on-chainrift/30674|Announcement by MaidSafe]] on 12/27/’19
- Relisted MAID on 12/24/’19 considering the potential of higher volume after delisting by Poloniex
- Was available to US citizens in many but not all states
- Shutdown exchange on 2/14/’20 for business reasons [[https://medium.com/chainrift/chainrift-is-closing-down-its-exchange-operation-pivoting-to-a-software-development-company-9e99c876bd12|the pivot]]
- Poloniex: MAID/BTC
- Exchange not available to US citizens from 11/1/’19
- Delisting MAID on 12/30/’19 ([[https://safenetforum.org/t/poloniex-delisting-maid-december-30-must-withdraw-by-january-30/30617|discussion]])
- OpenLedger DEX
- In some respects a decentralized platform
- Listing of MAID was hoped for but has not materialized
- Exchange [[https://dex.openledger.io/news/openledger-dex-to-terminate-support-for-some-gateways/|delisted OMNI]] token on 8/12/2019
- Bitker: MAIDSafe decided to remove MAID from Bitker in July 2019. Bitket allegedly stole MAID from MAIDSafe.
- Cryptopia was hacked and closed Nova might replace Cryptopia.
- NOVA Exchange might have listed MAID but was closed on October 2019.
- MasterXchange was closed.
6.4 Storing MAID offline
Storing large amounts on exchanges is not a good idea. Store MAID on an OMNI web wallet, or even better on a hardware wallet or a paper wallet.
Moving MAID from an exchange onto a paper wallet BTC address securely is relatively easy.
Moving MAID from wallet to an exchange is complex with some risk, and with the need to transfer the entire MAID balance, or very complex without risks except for risks associated with human error.
On a Tresor hardware wallet
Tresor supports MAID, see here for details.
Warning: Double-check what kind of BTC address works as legacy addresses starting with ‘1’ might not work.
On a BTC paper wallet
Before you create a paper BTC wallet and send MAID to it, read through the steps needed to send the MAID back from the paper wallet to an exchange and decide if is worth the trouble and the risks of making mistakes and of reduced liquidity.
Ref: Feb 2018 post
Know what you are doing. Follow the procedure at your own risk, including the risk of loss of all your MAID. Depending on the value you need to store you may want to do better (or worse) than this.[ ] Obtain BIP39 Bitcoin address generator and store on USB stick A[ ] Create a bootable secure OS (e.g. Tails) on USB stick B[ ] Boot into the secure OS while keeping the host off-line and out of sight[ ] From USB stick A execute the generator to generate addresses, keys, and mnemonic[ ] Write down the information on paper in duplicate[ ] Terminate the safe OS and overwrite and reformat USB sticks A and B[ ] Store the information in a safe, and duplicate in a safe located elsewhere[ ] Note the BTC public address you want to use to store OMNI[ ] Verify validity of the BTC address by typing it into a block explorer (e.g. https://omniexplorer.info, https://btc-explorer.com)[ ] Verify that the address starts with a '1', otherwise create a "classical" address[ ] Send MAID from exchange to the new address[ ] Verify MAID balance using the OMNI explorer
The transaction will include of an OMNI protocol instruction and 0.05USD worth of BTC left on the destination BTC address per transaction from Poloniex.
The unconfirmed BTC transaction will be visible within minutes on both BTC explorer and OMNI explorer. At that time the unconfirmed MAID transaction will also be visible under the “Unconfirmed” transactions tab on OMNI explorer. Once the BTC transaction is confirmed, the MAID balance will be reflected on OMNI explorer, and transaction will be complete.
eMAID
ERC20 MAID, eMAID is listed and traded on UniSwap and as of 2024 on BitMart. The orderbook is nicely visible here.
Since 2022 and still in 2024, OMNI MAID can be converted one way to Ethereum-based eMAID, currently at no cost thanks to @BambooGarden fund covering minting fees and Swiss-based Altcoinomy handling the KYC/AML, except for the cost of sending the MAID.
KYC is needed for conversion, check the FAQ. It appears that US and Canada investors must be accredited as well. For support contact hello at alt.co or @Adia24 via their Telegram channel. KYC data will be shared with Maidsafe. Many details are here, here and instructions here. MaidSafe Migration to ERC20 KYC/AML onboarding starts here.
Ultimately, eMAID and MAID represent the very same asset, MaidSafeCoin, which enables the holder the same access to Safe Network Tokens after the Network is launched as always, regardless of whether they hold their MaidSafeCoin in the Omni protocol (MAID) or ERC20 (eMAID). – MaidSafe
Dashboard monitoring this exchange is here.