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RE: SMT Testnet is LIVE
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
I am glad that reduces squatting rights, but how will the internal market work? Will trades be based on these numbers? Because that seems not very user friendly. What happens if I make SMTs with the same short name (e.g. HUNT, PAL) and place them on the open exchange. Will people have to know that my PAL is a different string of numbers vs the real PAL. Do you see where that gets very confusing and would turn people off? I am assuming this is not how this will work, so I more bring it up so I can get some clarity on how the system will work in real life. If this is how it will be designed, then I think opening up the discussion is important.
Waves uses a two-tier system where approved tokens can be found by the ticker name in the DEX, and other tokens by the long ID. That works pretty well. I think that's a reasonable compromise between reserving names and the freedom to create any token.
Awesome! Totally agree with something like this.