Dust Token - Ticker DUST

What about a ‘Dust Token’. I have lots of random coins, including BTC and Eth stuck in various exchange wallets that are too small to withdraw. Literally collecting dust and can’t be moved. There should be a ‘Dust Token’ that can go in and retrieve all this and put it into a nice neat pile in one place :cowboy_hat_face:. I’m sure I’m not the only one who has tiny amounts of crypto floating around in exchange wallets.

I am in no way smart up tech. So I would have no idea how to go about it. Just throwing out the idea.
#XIO

I think this type of functionality is near impossible to do with centralized exchanges. I guess it may be possible on a DEX and then only for eth tokens. However, current gas cost for transactions is way to high for this to be feasible at the moment.

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Yeah unfortunately i see many stumbling blocks, But you never know in the future we might something like this… it would be certainly be welcomed. Thanks for reading & the reply.

The idea is good. I think many of us have very small amounts of crypto’s in exchange wallets. Amounts that indeed are too small to withdraw. But the technical part will be difficult at the moment. However I believe this is a growing ‘problem’ of more an more people. So for sure one day someone must come with a solution.

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What if DUST was based on buying up seed phrases for small accounts, or accounts with hundreds of distinct tokens with low balances. You could create a kind of index fund on the one hand and make DUST the consolidation token.

So, I log into say Atomic wallet on a virtual machine and our smart contract verifies the seed phrase and changes it > checks the balances/coins/tokens that are visible/ recognized (ignores those that are not for now) > pays the client in ERC20 DUST that they can hodl, sell or use on Flashstake etc etc > kick back to the wallet issuer for reverse compatibility/ > We are left with a highly diverse index ‘DUST’ or simply leverage our onchain consolidation/ liquidity by pre negotiating with wallet providers.

I’ve been kicking this idea around in my head for a while so I’d love to hear thoights, this could be massive. A lot of people have hundreds of distinct tokens in wallets with tiny balances. It would be handy to have the option for people just wanting to consolidate, it won’t just be DUST in the end.

This is a very interesting idea! I like it!

This could be possible if there is a critical mass. It would require an intermediate contract, basically fronting the money, such as using Flashstake. You lock it up for a long period of time, the fronted interest covers the gas fee, and the exchange is made conglomerating the small amounts of tokens to a pool size that is equal to or greater than the preset requirement of time for them to be accessible. This could also be used to basically be a burner token for other coins that require tokens to be destroyed. Step 1. Conglomerate enough exchanges through the contract initiation of transfer of small sized token accounts, do not withdraw yet. Step 2. Enact an exchange where the fronted tokens are registered as being transacted to the new wallet address, and immediately applied to flashstake, receive interest. Take flashstake interest to cover gas fees. Step 3: Tokens are locked up for a long period of time. Then you can begin to scale down future transaction time once the tokens are unlocked, because you can draw from the original pool to reduce gas fee accumulated cost. Or otherwise stake both waves of pooled tokens to never lose your principal amount and use for gas fees.

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