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RE: Starting a BitShares Gateway
What about using bitAUD instead of an UIA? It would be more difficult and more risky for you but would make whole ecosystem much better in the end.
What about using bitAUD instead of an UIA? It would be more difficult and more risky for you but would make whole ecosystem much better in the end.
I've looked into it and love the benefits/security BitAUD holds over any UIA however the difficulty and risk with juggling the MPA as a gateway would cost a large chunk of energy and time which I think could be better used for marketing/education to the general public.
Like @ihaywood3 said as well it would likely require further regulation/roadblocks from the government as well.
After enough adoption/use of the UIA I'd like to create liquidity between BitAUD and the UIA if possible.
That's fair. It's very strange that the regulatory barriers are less with the approach that requires more trust, but regulations are pretty frequently nonsensical.
Providing liquidity between your UIA and counterparty-free assets is a good solution.
Agreed. That way it's much more trustless, and it also fragments the liquidity less. Seems to have been working well for the Chinese gateways with bitCNY. If you can manage enough bitAUD liquidity for your market and just take a fee for your services that seems ideal.
bitAUD would be ideal, but it's sailing close to the wind in terms of needing a licence from ASIC. /it doesn't help that the BitShares documentation uses the word 'derivative'.