OmiseGO AMA #5

Last updated 3 months ago

What incentive would a successful centralized exchange have to connect to the OMG DEX and are there any recent developments on this?

The OMG DEX is designed to reduce the custodial risk when centralized exchanges hold user funds, and to allow end users to have complete control of their funds as much as possible. For a centralized exchange this could represent significant savings in the operational costs related to custody of user funds, with a reduction in both the amount of funds they are responsible for and the risk of funds being irretrievably lost. Established exchanges will have clear incentive to integrate the restricted custody DEX if they find that the operational cost savings outweigh the cost of adjusting their existing processes.

We are focusing on new and existing venues where the venue and their end users will clearly benefit from restricted custody, as well as venues that will find the eWallet’s functionalities useful once it is integrated to Ethereum and the OMG Network.

The Crowdsale document stated Omisego (not Omise) is working with SBI Holdings, Mizuho Bank Ltd, Bank of Ayudhya and TrueMoney. Is Omisego still working with all these?


What is the list of tasks remaining to do, before the public testnet?

In response to this, we’ve added some extra detail in the tracker to the Plasma External Testnet issue, so you can follow along as tasks are checked off the list.

Is Thomas Greco still with the OMG team?

Thomas’s role diminished over time as the need for it diminished, as OmiseGO moved out of the ideation phase and became an established project with clear direction and purpose. As a dedicated member of the Ethereum community, he was a key person in helping Omise understand how to add value to the Ethereum space from early on, and he remains a hopeful member of the OMG community.

What is the next major Plasma Research problem that OmiseGO intends to solve?

A big push for plasma research in the near future will be thoroughly investigating the potential of Plasma Cash constructions, assessing the soundness of the current research and its ability to scale. At the time that implementation work on the OMG Network commenced, MVP was the clear choice based on the limitations presented by the extant Plasma Cash spec; but research has progressed rapidly over the past couple of months. Given these new developments, we're looking forward to exploring the potential of Plasma Cash-based constructions for long term scalability improvements.