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Pre-Proposal Vaultoro to implement DASH

Would you support this proposal?

  • YES

    Votes: 7 87.5%
  • NO

    Votes: 1 12.5%

  • Total voters
    8
  • Poll closed .
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MoKa

Member
We've just launched the proposal at dashcentral:
https://www.dashcentral.org/p/Vaultoro_to_implement_DASH

Gold for Dash: Vaultoro Exchange to implement DASH.


The biggest physical gold/bitcoin-Exchange of the world (operated in UK and Germany with storage in Switzerland) is looking for diversification into other cryptos -
and with the help of this proposal DASH will become the first bitcoin alternative to be implemented!




1. Who is Vaultoro?

Vaultoro (http://www.vaultoro.com) was the first exchange to offer a bitcoin/physical allocated gold trading pair more than 3 years ago, so users would never have to go back to fiat for hedging volatility.

Vaultoro has been working towards its vision of developing the world’s biggest asset-based security solution. The goal is to create a fair, global financial system for everyone. Vaultoro wants to enable everyone to easily and quickly manage their physical and digital assets such as gold, silver and currently bitcoin. It is ready for the unbanked, for people in countries where government has destroyed its own money, for conservative goldbugs all over the world, for libertarians and for all who need a civilized safe haven where you have law enforcement and property rights guaranteed. Vaultoro creates technical solutions by which customers can use their physical gold as a means of payment. Our products include Vaultoro Trading, the world’s first real-time trading platform for gold and bitcoin, as well as Bar9, the gold savings account. Right now more than 0.5 tons of gold ($23,245,757) are being vaulted (https://audit.vaultoro.com) and 1.8 tons of gold (approx. $76.500.000) have been traded via Vaultoro. The quantity of gold traded is increasing every month. The head offices are located in Berlin and London, their vault is located in the freeport “Zollfreilager Embrach” Switzerland The company currently has more than 12,000 customers from 94 countries.

Vaultoro also has pioneered exchange transparency developing the glass books protocol to become the most transparent exchange in the world while keeping client data absolutely private.

2. Purpose of this proposal?

We are seeking to integrate DASH in an existing and working crypto-gold exchange, not only to bring DASH to our 12,000+ users from 94 countries but also to make our gold and general commodities community aware of DASH’s advantages and user friendly features.

3. What’s in it for DASH?

We will list DASH/Gold and DASH/BTC trading pairs on Vaultoro.com and thereby create thousands of DASH wallets for our users and our platform. By doing so, we reach out to the gold community: Implementing a commodities-DASH-Exchange with Vaultoro means giving DASH a whole new application and opening a whole new market: with new sources of borderless international wealth transfer and fiat independency. Being the first cryptocurrency (after bitcoin) to become directly interchangeable with physical gold means: DASH is getting the opportunity to have a price discovery system based on hard assets and not just fiat. DASH will become more independent from fiat money and will thereby become more resilient to state regulation and fiat speculation. This means less volatility, more traffic and thereby more value.


4. What do we ask for?

  1. 35 DASH per month for technical development in order to integrate & maintain the new trading pairs & platforms

  2. 8 DASH per month for project management

  3. 4 DASH per month for accounting

  4. 5 DASH per month for legal consultancy

  5. 5 DASH per month for content marketing

  6. 2 DASH per month for travel expenses


    Proposal+Costs2.jpg



  7. 5 DASH reimbursement for the proposal cost

241 DASH over a period of 4 months, calculated at a price of 350 €/DASH and a 15% buffer totalling 277.15 DASH. Any funds left over due to price appreciation will be used for marketing and a DASH usage bonus for customers using DASH.

5. Win Win Situation

Vaultoro is critical not only for DASH but also for the gold industry as a whole. For it could help dampen the volatility for DASH and gold price by

a) increasing traffic from DASH to gold and vice versa,

b) opening the way for a whole new community: the so called goldbugs (= $Billion Industry) to get the most modern way of direct payment without middlemen and the danger of losing control of their asset.

c) opening a fiat money independant source of value transfer, that is not dependant on highly speculative money created at will from central banks (with their bazooka policies) and affiliated speculative investors but is always backed by the asset that no other can equal with its unmatched high and stable stock to flow ratio but a very great, wealthy and conservative flock that adheres to the values only DASH can provide.
The difficulty is most of them just do not know it yet, although more and more goldbug opinion leaders side with the libertarian crypto crowd. In fact, both groups have many overlapping interests.

d) offering a transparent order book, visible to all participants, reduces the risk of price manipulation, yet not giving detailed information on the user himself (open market competition vs spot price dictated by 5 big players)



This is a great opportunity to offer a customer experience that is completely bank independent. The gold industry is a multi-billion dollar market. Although many of the vaults are located in secure legislations, they cannot liquidate or transfer values easily. However, with the service of Vaultoro they can. Most of them have to use bank wire transfers, which comes down to state controlled middlemen.

Since gold is stored in a secure surrounding - being different from legal-tender currencies - it has evolved over 6000 years to become THE default value asset (surviving even solar flares, wars and government shutdowns, - defaults, confiscation and prohibition sprees), keeps away exceedingly hazardous third parties, like burglars and confiscators or the banking systems henchmen that do not respect private property.

Higher traffic, lower volatility, a true usecase and gold as backing means even higher value for Dash.The role that the “petro-Dollar” had for oil, namely to be the dominating and outstanding currency for one asset could well become DASHs role for gold after adoption in this proposal, considering all its qualities and its possible edge in competition and first mover advantage.

We are looking forward to a successful cooperation with DASH. Please let us know about your views on this proposal. You are more than welcome to leave questions, opinions and suggestion on this proposal.

On behalf of Vaultoro please use this link for signup to help us keep track of the incoming traffic referred to this proposal.


---

Who am I?

My name is Moritz Kajdi, I am currently studying business economics at the University of Greifswald, Germany. I am a supporter of the Austrian School of Economics and therefore also a big fan of DASH and gold. I have written two articles (article 1, article 2) about cryptocurrencies in German that have gained much attention. One of them has been recognized by @tungfa who shared it on dash.org. I have also held a lecture on crytocurrencies at the University of Greifswald, Germany as part of a lecture series hosted by the Bundesverband deutscher Börsenvereine.
 
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I just noticed this was posted in the Proposal rather than Pre-Proposal section. Seems like a pretty solid plan, and it helps immensely that you already have a functioning, usable product. Your funding request is a very reasonable amount for an integration. Sounds good, I don't see any real obstacles with this, looking forward to voting Yes.
 
I just noticed this was posted in the Proposal rather than Pre-Proposal section. Seems like a pretty solid plan, and it helps immensely that you already have a functioning, usable product. Your funding request is a very reasonable amount for an integration. Sounds good, I don't see any real obstacles with this, looking forward to voting Yes.
Thank you!! Would you suggest re-posting this in the "real" pre-proposal section?
 
Thank you!! Would you suggest re-posting this in the "real" pre-proposal section?

Only if you're looking for more feedback before you go on to a full proposal. You might be able to get a moderator to move the thread there if need be.
 
Sorry but I have to strongly speak out against this proposal.

100k$ for an exchange integration with 135 trades per day(200k volume) is a joke. No exclusivity, no bonus, nothing extra. Leftover funds used to market the platform!? Really that has one of the lowest ROIs I’ve come across in a proposal.

If any MNO cares to repost this on DC, feel free. I’m not whitelisted
 
Another thought regarding remaining funds:
I assume you can’t fund a new account with gold. You could probably fund a new account with dash. So if you market the gold/dash pair you’re marketing for people to sell their dash for gold. How does this help dash?
 
Sorry but I have to strongly speak out against this proposal.

100k$ for an exchange integration with 135 trades per day(200k volume) is a joke. No exclusivity, no bonus, nothing extra. Leftover funds used to market the platform!? Really that has one of the lowest ROIs I’ve come across in a proposal.

If any MNO cares to repost this on DC, feel free. I’m not whitelisted

Thank you for your concern and I'm sorry for the misunderstanding. The marketing mentioned above would be pure DASH marketing.

Another thought regarding remaining funds:
I assume you can’t fund a new account with gold. You could probably fund a new account with dash. So if you market the gold/dash pair you’re marketing for people to sell their dash for gold. How does this help dash?

I'd much rather see it the other way around. We have more than 12000 customers with over 0.5 tons of gold waiting to liquidate their asset possibly into DASH with the help of this proposal. Especially if bitcoins transaction fees skyrocket again, the only thing left to ensure a cost effective transaction will be DASH. Not mentioning the perfect fit with InstantSend and PrivateSend which may be important for both merchants and private customers.
 
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I’m not saying you shouldn’t add dash. The price tag is just way to high. Others built an exchange from the ground up for 18 dash some months ago.

Why didn’t you just get in contact with cores busines developement to get help implementing dash?

Are you vaulting 1.8 tons or 0.5 now?

How does instant send and private send relate to your proposal? I don’t see the connection
 
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I’m not saying you shouldn’t add dash. The price tag is just way to high. Others built an exchange from the ground up for 18 dash some months ago.

Why didn’t you just get in contact with cores busines developement to get help implementing dash?

Here's the difference:
Building an exchange has a higher possibility of failure than actually using a platform which has been working for years. The cost of risk is not to underestimate! If we offer you something: we deliver - not saying we are UPS - yet we do!

Second point:
We're not developing a business model we're offering you the exclusive opportunity of a working use-case for DASH!
This is not only an implementation on a crypto-exchange but the chance to actually enable DASH users to buy physically allocated gold! Thereby "gilding" DASH.

This is not an easy thing to do, we've spent years developing relationships with professional bullion associations, liquidity providers, smelting companies and top tier vaulting facilities! The backend to make all this work is completely complex and not simply another crypto exchange.

We would be proud to make DASH our first alternative gold pair! It's been asked for by clients from developing countries such as Venezuela, Myanmar and Zimbabwe.
 
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How does instant send and private send relate to your proposal? I don’t see the connection

InstantSend would allow us to do the most interesting thing, no other crypto can currently do effectively. It would allow market-takers to not have to trust our hot-wallet by taking an order from our order book directly from their controlled wallet to their gold-holding vault.

PrivateSend is very important to all of our customers, since most so-called goldbugs hold privacy very close to their heart - as we all should.
 
Why does the price need to be higher when the chance of success is higher? Are you asking for integration costs or profit on top?

Why didn’t you contagct core business developement for implementation assistance?

Id we’re leaving out the buzz words like gold and fiat independent you proposal boils down to

“integrate dash into a hard asset exchange with 134 trades per day on average with 3 months “exclusivity” for 100k us$”

True or false?
 
Why does the price need to be higher when the chance of success is higher? Are you asking for integration costs or profit on top?

Why didn’t you contagct core business developement for implementation assistance?

Id we’re leaving out the buzz words like gold and fiat independent you proposal boils down to

“integrate dash into a hard asset exchange with 134 trades per day on average with 3 months “exclusivity” for 100k us$”

True or false?

Good questions, it's great to see someone finally asking this:

1. We are aware of our good reputation, we have partnerships with some of the largest companies in the commodity industry. When you're talking about ROI you're surely aware of the term "total cost of risk". There will be no profit on top! If the price stays where it's at right now we will pay for some of it ourselves.

2. It's not about implementing just another wallet, or putting in some API, rather than backend developing a gold pipeline from the oldschool commodities trading industry. If this was just about implementing a wallet, we would have done it yesterday. It's the allocated gold pair.

3. No, false:
It's rather: the only crypto to hard asset exchange in the world :)
 
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It might cost you this much money, I don’t doubt that. But I’m judging your proposal from the dash perspective. Giving 134 trades per day the option to use dash for 100k is minuscule return on investment.

The only exchange is still a exchange
 
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