Safe.Trade - SafeCoin Exchange Community partnership


#1

To simplify this for everyone,

This proposal is to create a working relationship and partnership between BitcoinZ and SafeCoin which includes Safe.trade an exchange which is currently in beta and is launched by the Safe.Coin team.

Below ideas of how and what can be achieved given the challenges, problems and hurdles we as a community face by having a lack of partnerships.

Below is only one iteration and suggestion of what the partnership can be scoped out to be, However, in the interest of establishing a great working partnership + relationship between the two communities and coins,

This proposal is open to for the community to shape and define, and insert ideas that allows everyone to have an input.

Problem statement
Lack of partnerships between Exchanges and the BitcoinZ community, most exchanges only provide a one-way business relationship.

Mission Statement or Vision
Service improvements and process efficiency, from an exchange that can work closely with our community and even contribute to our community fund while providing a growing and great service to our community.

Objectives to be achieved

Objective: Work with an exchange that can leverage involvement in our community and provide an ever-growing service that can benefit BitcoinZ in a variety of ways, across long-term and short-term engagements. Leveraging this exchange for cross-market and cross-channel purposes benefiting both entities and their community members in an innovative way.

Preferred approach

Vision: Partnership with Safe.trade (SafeCoin Exchange)

key factors:
i.) Provide and leverage pairings of BitcoinZ with many other coins across Safe.Trade
ii.) Active working relationship between our community and the SafeCoin community.
iii.) Arbitrage service from Safe.trade to BTCZ community inline with Bittylicious
iv.) Negotiation of a possible BTCZ community fund contribution agreement with Safe.Trade
v.) Enhanced security and community member service provisioning across safe.trade
vi.) Ability for pairs with coins such as BTCZ/Zel, BTCZ/(insert coin that may be added to Safe.Trade) - leading to a wider market growth of BTCZ.

Additional ideas towards the partnership with safe.trade team can be expanded on by additional community members. (please do not ask for silly, things that are based on user error, and please allow some time for service enhancements given safe.trade is fairly new and we need an opportunity to grow with the service as the service becomes enhanced).

Benefits statement
The benefits of solving your problem or reaching your goal are an integral part of your business case. People want to know how your project will help them.

Performance and progress measures

Safe.Trade can provide insights, progress reports + updates, including improvements, recommendations and performance + enhancements to BitcoinZ community, which can be shared and posted monthly on our website or shared via communication channels (discord, slack, telegram). Transparency is key.

All areas mentioned above can be broken into sections for reporting along with specific teams working between BitcoinZ and Safe.Trade (as well as SafeCoin)

i.) Improvements, Performance + enhancements: wallets and other technologies can be
achieved through developer teams communicating. Included in a report to the community on a
monthly basis.

ii.) Insights, Progress reports + Updates: Trades and new pairings and monthly milestones (if any), insights into trading styles, transactional data.

iii.) community fund contribution by Safe.Trade (depending on what is agreed)

Additional information can be decided upon speaking with Safe.Trade team.

Risks and ways to address them

Potential risks:

i.) Other exchanges, feeling challenges and seeking to hurt BTCZ due to a partnership with
Safe.Trade (however this would be down to said other exchange being innovative or
attempting to limit innovative partnerships)

ii.) Pumps and Dumps groups attempting to dump BTCZ via other exchanges, however, our level of transactions via a partnered exchange can eclipse any negative value from a pump and dump group.

(More will be discovered over time and as community members comment to help shape this proposal)

Reduction of risks:

i.) Safe.trade has the ability to provide protection against Price pump and Dumps.
ii.) Arbitrage via Safe.Trade minimizing the risk of dependency on non-partner, 3rd party exchanges.

(the community can comment and provide ideas on the reduction of risks)

A basic plan of work (timeline and key milestones)

Currently Safe.trade has launched in beta and has already listed BTCZ/SAFE pair.

I propose teams from BTCZ cover the following areas to support this proposal and opportunity.

1.) Infrastructure + Developers team - who can assist in future technology, improvements and
such as mentioned above.

2.) Community funds team - to support in safe.trade community contribution and insight/analysis
on BTCZ monthly/bi-monthly performance.

3.) Arbitrage and brokerage teams - who can find brokerages/currency exchanges and
recommend safe.trade as our arbitrage exchange

4.) Business development teams - who can assist and prepare official documentation to secure
an official partnership with Safe.trade and BitcoinZ.

This is open to everyone in BitcoinZ community to help and collaborate to identify, define the activities and milestones related to creating networks of participants.

(Participants to be listed in the areas of and for contributing to the growth of this proposal, ideally being involved in making safe.trade a core base and home Exchange for BitcoinZ as much as it is one for SafeCoin).

Cost estimates and funding sources

Funding sources: Safe.trade community trading contribution.

Costs and funding estimates should reflect a proof of work whereby all teams to be compensated by a % (percentage) from Safe.trade contributions to the community fund.

The means the more trades the community does via Safe.trade the more likely the community fund contributions can be sufficient to compensate participants.

Costings of services that should be prioritized by this fund contribution from safe.trade should include the following areas of participants.

Human resources
Marketing
Training + Maintenance (if Any).

Opposing arguments and responses

Please feel free to comment with opposing arguments, please do so, professionally and provide insights and examples to your arguments against this proposal.

Other

I have spoken with Jeff from SafeCoin team regarding this and mentioned that I would make a proposal to our community to seek the approval of the community to establish an official partnership inline with benefiting BitcoinZ community and SafeCoin community as the two communities already share many many things, as Jeff pointed out himself.

  • Yes
  • No

0 voters


#2

I voted no so I will just answer why,

Firstly this shouldn’t be called a proposal for a partnership as this proposal has no actual content and there is no way I would agree to a partnership without seeing said agreement. It contains things that could should or probably might be in a proposal but there is no actual proposal offering on the table for anyone from either side to agree to. this proposal will only lead to further and further proposals that contain an actual agreement with clearly defined lines of the expectations and responsibilities of each party.

Secondly and please I am just stating facts, this is a coin who has already been attacked twice by it’s own upstream fork, this one doesn’t site rite with me both from a security and marketing point of view. One it shows that he current dev team was not aware or tested the software they forked or did not have the skills to asses the risks and the holes. Granted KMD did not post the updates for the flaws they were aware of but they did find them and where does this leave safecoin are they completely now off any KMD updates and running independently. And who in reality wants to be associated with unproven technology built on a coin that has already been attacked twice, talk about marketing that is pretty much anti marketing rite there.

There are elements that I do not agree with, any exchange that wants to share inside information about trading, or new pair listings is not an exchange I want to be involved with, nor should we be in anyway trying to encourage or invoke an agreement that would appear to agree on terms whereby that information is made available to us. Insider trading nuff said.

I’m still trying to work out who does what and why we get a % of their trade. Are you suggesting that the BTCZ devs work for safecoin? How do we even know their trading platform will get off the ground and be popular enough to provide any sort of trade volume to mitigate the identified risk “Pumps and Dumps groups attempting to dump BTCZ” .

Any proposal that essentially pimps out our devs and/or any other community members or puts pressure on them in a written agreement to provide services at the determent ie not working on BTCZ I have no idea how those devs or community members would feel about that. I feel that the devs and the community’s time would be better spent on marketing and developing our own coin and business strategy because at the end of the day contributing to another coin/project does not secure our coins future but does then line us up to take their fall.

This should be a proposal to investigate and nut out some terms for an agreement to form a partnership that would then need to be accepted not a proposal for a partnership with no terms any anyone should be thinking twice about what you are saying yes to, you are saying yes that we should have a partnership with SAFE without seeing any agreement terms of what this partnership would involve.


#3

Thanks for the points and outlining the areas of concern @MeJutty.

This proposal clearly states it’s intentions and I am not sure why you would make a post in discord/slack or telegram asking others to hate on your post on less this was funny or deeply rooted to something else.

Ileta deal with what you mentioned above:

There will be no insider trading : the proposal outlines having a relationship where we receive insights, recommendations, updates etc all pertaining our technology and our user/community that are legally sound for any partnerships.

Safe.coin as well as tradesatoshi and other exchanges have insights in btcz wallet issues, sync and confirmation issues if any. Users don’t complain because its cool. These insights can assist us as a community to refine our products across many exchanges.

Shall I continue…I shall,

Recommending updates and security features including identifing bugs to assist with flaws from our technology allows us (BTCZ community) to leverage this knowledge and act quickly to mitigate risks;

An exchange that can provide such assistance to any coin as Binance does for binance coin makes it quite an effective relationship, in our case, with Safe.trade and the SafeCoin team we are benefit through a working partnership vs being the coin owned by said platform as Binance the exchange owns Binance coin.

You alluded to KMD and SafeCoin security issues, I can’t speak for the Safe.trade and the SafeCoin team however it is a good question and I am sure we can communicate these concerns to the safe.trade team and SafeCoin team.

Additional you mentioned pimping out our developers or our developers working for SadeCoin;

I haven’t suggested our developers work for SafeCoin, I suggested they work with SafeCoin.

These are distinctly different statements. Working together does not mean we work for another team, it only means we work with this other team.

Also our deveopers are working with many teams as you would find in Crypto, developers often work together.

I proposed a partnership and clearly outlined areas where work can be incentivised through a partnership that allows our community to negotiate and receive a community fund contribution from Safe.Trade due to the number of transactions and use of it’s platform by our community members.

I think all other exchanges charge us extortionate prices and keep transactions fees without ever sharing or supporting our community growth etal.

If you are aware of any exchange that does such a thing thing please correct me immediately.

I outlined how this incentive can be useful and also mentioned clearly that comments and questions will help shape this proposal.

Some of the other stuff you said, regarding what you would or wouldn’t do etc. would need you to explain further as I don’t know what you meant.

This is a proposal that requires a few things and it is clearly outlined what these requirements are.

This isn’t a partnership document rather a proposal for the community to vote on whether the members would like a partnership to can cover the areas above and also add value by suggesting additional areas to cover and asking valid questions that can be used to navigate and define the partnership document

With your comments security is key and so is skepticism, along with legalese, to ensure we remain on the right side or the law #NO #Insider #Trading.

I hope this answers your key questions regarding working with an exchange such as Safe.trade

I also don’t see any exchanges giving a damn about our community to even attempt to work with us in this way.

Hope to hear from you soon, if you work with any exchanges or feel capable of reach out to them please reach out, and let’s include then as well.


#4

I voted yes to this, as there is no proposal to vote for or against, just the ‘idea’ of this - so I voted ‘yes’ as an expression that this is worth exploring.


#5

I think we can cancel partnership any time (by voting against it).
So I understand they are newcomers on this plainfield but noone else gave a support / deal like this.
As I understand there is nothing what we agree on, just a handshake, we will support them by advertisements and getting more user to this platform, trading and we will get more respect as a return.
So lets try, I voted yes.
Of course if we feel unsecure or something against our whitepaper, we can cancel and move on.


#6

I don’t like the idea of being coupled so closely with a third party exchange.
In the interest of decentralisation how can we have one exchange act as our “core base and home Exchange” especially when that exchange is third party and will have its own interests ahead of those of btcz.
Also if safe trade becomes associated with btcz in such a way that it’s seen as our base then if safe trade fails to take off then that will negatively impact btcz.

To be honest, I didn’t really understand alot of the proposal. There is alot of stuff that doesn’t really make sense (e.g. what exactly is insight/analysis? I can give you monthly analysis/progress report on btcz just by looking at my blockfolio app) and also just seems like you are waffling on a bit (“Enhanced security and community member service provisioning” - what does that even mean!? That’s just Sales talk.)

I think if you condense the whole of the proposal to these single few lines mentioned in the previous post and ignore everything else, then it is definitely worth exploring this further.

Blockquote
a partnership that allows our community to negotiate and receive a community fund contribution from Safe.Trade due to the number of transactions and use of it’s platform by our community members.
Blockquote

That is crystal clear. We use the platform and they give back to the community for using it. So yes for that and no for all the rest surrounding it.
That said, Im not going to vote either way just yet until there is some more clarity and no that doesn’t make me a fake account or make me in cohoots with anyone in some elaborate conspiracy.


#7

Hello there, I’m the Safecoin founder,

A lot of serious thinking here. Not my place to clarify (yet), and definitely not my place to vote.

How does one incorporate things like “third party” and “centralized exchange” into concepts for a coin who’s motto is “in decentralization we trust”.

It may come down to what makes sense now. In the future, it may be possible to achieve all this through a decentralized arbitrage mechanism. And, again, in the future, that is something we may be able to work with BTCZ on.

But if you want working practical solutions right now, the “centralized exchange” piece may be, at least temporarilly, unavoidable.

I have chosen to tie Safecoin very closely to the fate of an exchange (right from the original roadmap). And yes, my interests will always lie first with that coin. At the same time, it is undeniable that our team and our community are tied closely with BTCZ and always will be. Not only that, but the two coin’s interests and goals have many clear alignments.

Agreement or no agreement, when I’m not supporting Safecoin, I’m supporting Bitcoinz. The concept of coins working together is very much aligned with embracing the entire concept of open source itself. Which is to share. I personally support Bitcoinz and think highly of the team. I was very proud to list SAFE/BTCZ as our first pair. I have no plans/intentions to take away from BTCZ’s prominence on our exchange as we start to add more pairs and approach our official release (we are beta). I think it looks good where it is, easy to see and where it should be, at or near the top of the pairing list.