Should Omen make outcome tokens ERC20?

{Should Omen make outcome tokens ERC20?}

The utility of outcome tokens is severely diminished by not being able to use them in standard ways. I want to be able to have them owned by a DAO, send them to friends, etc.

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What about creating a token (in a separate smart contract) interchangeable with the conditional you want to keep? you could implement logic over it also…

Maybe. It just has to be simple for a noob.

There is actually a way to convert ERC-1155 tokens into ERC-20 compatible tokens I believe, so it can be done.

I forget exactly how it works, but I think it’s a wrapper around ERC-1155.
Someone would just have to build that very simple integration, like a bridge.

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Well i am also starting with conditional tokens and not at all sure of the scope of them but, maybe with a clean implementation of an ERC20 token (openzeppelin stds) and methods to receive ERC1155 tokens from the CT’s + the internal logic will be a good start.
Edit>
Win tokens are redeemable for collateral so you should ‘give it as a prize’ winners with your new token (or lose money on for redeem it)
Lose tokens could be fully redeemable for your new token because they have no intrinsic value on collateral.

I’ve been told this as well. I think you need to get ERC20s as soon as you buy/mint outcomes.

@shinsyotta - we already have a tool so that you can convert your outcome tokens (ERC1155) to ERC20 tokens. (of course back and forth)

I want to be able to have them owned by a DAO, send them to friends, etc.
Those things are also possible today but indeed - the tooling/ wallet support for 1155 is very poor currently.

@auryn_macmillan - when will this tool be publicly available?

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Don’t you think this is too complicated to get adoption? I would probably use it, but I have tried to introduce people to Omen who might want to bet on something but don’t necessarily understand anything about Ethereum, tokens, etc.

hm… the idea is that if you only use Omen there is not need to convert it to ERC20 - one big advantage of ERC1155 is that it makes Omen cost less gas as if it would use ERC20

However - if you want to use outcome tokens in other ways (e.g. trade them on other DEXs) you might want to do the wrapping - but this targets advanced users.

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It will launch within the next few weeks.

The DxDAO folks are actually working on adding ERC20 support to the UI so users can choose which standard of token they want (and convert between the two).

Here’s a quick mockup.

In the mean time though, the conditional tokens explorer that will be released soon will enable this functionality.

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This is great. Good job!

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hey there, we wanted to share that the tool has launched!

Give it a go at https://cte.gnosis.io/ and your feedback would be deeply appreciated :smiley:

More info here: https://blog.gnosis.pm/conditional-tokens-explorer-factory-a6c950ea8319

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I just created this relevant topic

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