Safe Exchange proposal for new network

Let’s give the world what they need. Support Safe Exchange that we should build our own safe network by voting “yes” to our focusing fire on our own implementations.

Proposal voting commences October 3, 2016 until October 18, 2016.


So, if this proposal is passed, SEC will not perform on the Safe Network? SEC will have it’s own blockchain?

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great job daniel, i will be voting “Yes” on Oct 3. until then i will try to add to my voting weight :grin:


If the proposal is passed we will not depend on safe network.

SEC will have it’s own blockchain that is correct.


im glad ur doing ur thing Dally
i have the good feeling on my investment


I remember an interview with @we-advance back in Jan 2016. During that interview I said… “I’m in favor of whatever works!

I’ve always held that position. If @dallyshalla believes SAFEX can work without a third party network, then let’s do it.

I will be voting “yes.”

Maybe, we can do a video chat with @we-advance and answer some questions people might have. When you’re ready…

  • If we make our own SAFEX blockchain, what is the reward incentive for mining?
  • If there is a reward for mining, will there be a “new” coin and cap?
  • Or can we use SEC (Safe Exchang Coins) to pay for SAFEX fees?
  • How will current SEC holders make their ROI (Return on Investment)?
  • How is SAFEX different from other cryptocoin “exchanges” like
  • Does an independent SAFEX blockchain require more funding?

EDIT: Some of these questions have answers in your recent interview, see below.


Many of these logistics I want to discuss definitely to have a well planned system. I want to also keep it at logistic level and keep implementation details to myself as far as the “how” this is going to go live. Sure it may seem foggy but I hope that is ok, since I want to be the one to launch this. Sometimes things are obvious to you and once you speak them you lose traction someone beats you to the punch. Loose lips sink ships. 100% open to discussing and vetting ideas such as how much % to reward SEC holders of the new chain, how much % of transaction fees to award client interface developers, and to discuss inflation models for mining rewards. Grateful to @dyamanaka let’s score finally.

I do plan a new name for this blockchain network, I will release it with accompanying logo pending the vote outcome.

We will definitely need a new coin parallel to Safe Exchange Coin

A percentage of initial coins from the blockchain network will be distributed to Safe Exchange Coin holders, as part of ROI.
And from transaction fees through the client interface that is designated as the Safe Exchange client.

we are distributed, decentralized and private

No additional funding is expected at all, I still have budget to build the backend and push it forward.


I’m okay with that. I think it’s rude to tell the chef how to do his job. If the meal is great, you will have my continued support. :wink:


@dallyshalla when are you going to be doing snapshot of holder balances for this proposal? btw is empty, showing only two buttons but no content…

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The snapshot will be on October 3rd 2016,

The rust server got overloaded with requests, against that I am adding a “recaptcha”; completely expected that to happen at some point (server crash) until I pushed the recaptcha.

Does that mean I have to move the coins from bittrex to an address of which I control the private key?

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Yes that’s correct otherwise you won’t be able to form a vote

Thanks for the update and answers. I’ll be voting yes :slight_smile:

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@dallyshalla, I’ve watched LIFE IS PEOPLE #176 twice and liked it, but I’m still not 100% clear about everything I’ll need to do to prove my ownership of SEC so that I can vote.

Any chance of a written step-by step description of what to do - for total dummies like me - before it’s voting day?

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@forumtum, definitely the commandline part of it surely may of threw you off, and I haven’t given any written instructions to use it.

Long story short:
You just need the SEC on an address to which you possess the private key.

The application I built handles the rest from your desktop.

  1. Download proposal file
  2. Open Voting App
  3. Use voting app with the proposal file + private key
  4. Choose your vote
  5. save the vote file
  6. upload vote file to the website:
  7. done.

This is an informal instructions and they are not far off from what you will actually need to do to establish your ownership and selection

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Thanks @dallyshalla, that’s just what I needed. And the private key stays offline and secure throughout - have I got that right?

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Yes the Vote part of the app is 100% offline.

The proposal maker does connect to API to fetch the list of coin owners. So proposal app does go online just only for that, voting app does not go online ever at all.

Nothing from either app is transmitting any of your private key info. You can check the source code, and we will provide a the hash of the compiled from source to the binary of each app to verify security of the application before and after download. Source code is at

Can you please write an instruction for us who has our SEC on bittrex and found previous instructions with onmniwallet to technical ?

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I will be sure to make a video instructions for this over the next few days and post the youtube link.

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I’m undecided as to which way to vote.

My ideal would be for Safex to be on the Safe Network, but it’s sensible to diversify risk. If this vote was held a good few weeks back, I’d definitely be voting yes.

However, with the recent Safe Network progress on data types, APIs, and stable test environment with the Alpha, as a non-developer I’m wondering whether the Safe Network is becoming less risky to the point where meaningful development could start?

What features would be needed that aren’t currently available on the Safe Alpha network + upcoming RFCs?

If the Safe Network still presents a big risk, then the risk of developing a custom blockchain based solution may be smaller than the risk of depending on the Safe Network. But if the Safe Network is looking less risky, then the risks of splitting focus between Safex and a custom back end to run it may be higher than depending on the Safe Network.

Looking forward to the outcome of the vote either way so that focus can be applied to making Safex happen!

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