I’m just wondering if someone could clear this up.
TWM is @dandabek’s company (according to @aussiesloth). So are all the fee SFT coins that have been staked on the TWM wallet from TWM related commerce Dan procures?
How does revenue sharing work with the wider API access? Is the revenue shared between all wallets on the blockchain and all stake SFT, or only the wallet you have stake your SFT in?
Thanks
My understanding is that the TWM is a business entity that Dan owns and has incorporated. It functions both as a wallet and marketplace that resides on the Safex blockchain, also owned and created by Dan.
The TWM is essentially an app that resides on the Safex blockchain, as does the CLI wallet. Dan created an API ( aka application programming interface ) so that anyone can create their own app to reside on the blockchain. The Safex Token, SFT, is what I believe to be the governance token for the blockchain. In this way, any app that resides on the blockchain will require SFT and holders will be able to stake SFT to share in rewards in the form of some type of passive income.
The monetary system that will be used by the TWM is Safex Cash, SFX. This is how buyers will pay for merchandise from those vendors ( merchants ) that operate on the TWM ( aka The World Marketplace ). They must apply and be approved by Dan Dabek to ensure that activity on the marketplace is not unethical and illegal. Dan will permit holders of SFT to stake their tokens using the TWM to share in the profits and thus earn SFX. This is a win win for all of us. Those tokens, SFT, that they stake will be locked for a period of time and then returned to their rightful owners, including the SFX they earned passively. All of this will be reflected in their balances once updated in the TWM wallet.
I’ve not read the API, but as more apps are created to reside on the Safex Blockchain, I do believe that SFT will be necessary, as it is the token of the blockchain. I’ve read on this forum that while the TWM is centralized, the blockchain, and hence SFT are decentralized and anonymous.
It would be worth your time reading up about how crypto wallets work.
No coins are stored in ANY wallet.
The coins are stored in an address on the blockchain.
Any wallet is simply a window into what exists on the blockchain.
So no, coins that have been staked are not Dan’s procures. They are staked on the blockchain, not the wallet, no different to if you used the CLI wallet.
The revenue sharing is also on the blockchain level, so again nothing to do with TWM wallet. The wallet just is a graphical way to view this.
Listings to sell on the safex blockchain are also nothing to do with TWM wallet. The wallet is just a graphical way to view this or one day graphically add listings to the blockchain.
Now, what TWM wallet DOES do: looks through all the sell listings on the blockchain and filters them, only displaying sellers that are/will be approved. You can list anything on the blockchain, but the API won’t necessarily list it in TWM wallet.
The API also takes care of secure communication between buyer and seller.
Perhaps there are some other things that the API does, but that is my understanding so far
@znffal has this perfectly explained.
short summary: Every staked SFT (no matter what CLI, GUI the staker uses), earns revenue share from every sales transaction taking place on the Safex blockchain (no matter what CLI, GUI the buyer/seller uses).
also dropping my reply from the other thread here:
Another good explanation, thanks both @cryptooli and @znffal !
Question, Dan created an API so that others can create a gui or app on the Safex Blockchain. Am I correct in assuming that these graphical user interphase’s (i.e. apps) do not have to be necessarily a marketplace like the TWM ? Not to sound foolish, but maybe somebody comes up with a gui which is essentially a game app, and in order to play you need stake an amount of SFT and the winner earns SFX and everybody gets their SFT back ? Or maybe somebody else comes up with a DeFi app that requires SFT and rewards with SFX ?
Perfect! 