I think most of as agree that bridge is a painful topic.
What if we increase confirmations to 300 when XTM is bridged? Or exponential increase in confirmations vs amount of xtm bridged(IE 1000xtm 100confirmations, 1m xtm 1000 confirmations etc etc).
Will that potentially increase safety and we will be able to lift daily limit?
For minotari L1, 10 confirmations is enough to make sure the payment is onchain.
Current daily bridge limit is not about safety IMO. It’s about keeping total marketcap. If one can bridge 1b from XTM to wXTM, and swap to USDT, what will happen? Also I don’t think the bridge is a decentralized design. It’s just a service.
I wasn’t able to attend the last couple of Tari Show events, but I listened afterward. One thing that came up was that the main way to convince exchanges to prioritize listing wXTM and/or XTM is to demonstrate trading volume.
The primary means for doing this trading right now remains (as far as I know) the bridge. This suggests that we should increase the limits-- at present retail prices (according to CoinMarketCap), 2 million wXTM would trade at around $1527. Having that as our max daily trading volume seems like a major inhibitor.
Are there other ways people are trading, other than peer-to-peer?
I’m personally curious why the bridge limit is so low. I’m sure there is a reason for it, but I think it’s worth revisiting to see if the assumption makes sense.
We want to bring volume/value towards Tari. It doesn’t matter how good technology is and how unique Tari is. If there are no rails pointing at us or they are very limited, volume magically will not happen.
Also, we preach about privacy and how data exhaust is massive, yet the only way to acquire Tari is through surveillance chain or through bucket shops with KYS.
Imagine for a sec if we could do XMR swaps with Tari. Fingers crossed we will have that in cake wallet.
We need to completely axe the bridge limit. I have yet to see an actual reason why the bridge is limited to a number of tokens per day, and why 2 million? Need the council on this ASAP.