Bringing the SAE back to life : Barter

Freebieservers is proud to bring back the Secure Asset Exchange in a new variant. With the back end of the project being made open sourced by the former dev (kushti), the project has been waiting upon new leadership to take it further and capitalize upon the decentralized asset exchange while ensuring value additions are made. The joint collaboration brings together Coinomat’s expertise in handling exchanges with Freebie LLC’s expertise in product development. The new SAE shall be run by the name of “Barter” and aim to create a cross currency asset exchange platform that allows for individuals to buy assets from other currencies, conduct asset to asset trades and initiate exchanges without reliance upon external exchanges. It will also enable new businesses to raise funds from the community, and ensure new members of the community have a user intuitive platform for raising of funds and purchase of assets.

Project objectives.

Bringing back the SAE to its former variant — with a new front end and server. This is the main objective, and the project will be launched with the same functionality SAE had.
Add cross currency asset exchange with support for Btc, Eth and Nxt
Enable on-platform cross currency exchange
Enable Asset to Asset exchange
Create a user friendly platform for businesses and investors to interact with each other. 
Project deadlines 
Integration of new front end and v1 launch- 14th March 2016
Integration of cross currency exchange — 21 March 2016
Additional features to make the project a kick-starter hybrid — 7th April 2016

Project specifications

Coinomat will be handling the asset in a joint collaboration with Freebie LLC
The project will be under the banner of “Barter”
The project will collaborate and work with coin communities of all backgrounds / technology / ideology as long as it does not work towards unethical or illegitimate causes
The project will be a for-profit venture with fees generated on deposits, withdrawals and trades
Coinomat will do the escrow for the project, and will release the funds based on completion of project stages. Freebie will be handling the development of the project. In the event that a deadline is not met, the amount will be further held until the deadlines are met.
The servers of the project will be under coinomat’s control and Freebie LLC will maintain limited access towards it. This is in lieu of coinomat’s year long experience in handling exchanges in a secure fashion
 
Asset structure:

ICO price is 0.00005 BTC per share
60% will be sold at ICO, so the ICO target is 30 BTC
25% is retained by Freebieservers
15% by Coinomat (for further distribution to Cryptofund holders)
Dividend payouts will be made on monthly basis. 50% of the project profits will go to dividends, the rest will be retained for further development.
Asset id : 8975474920402627041
Asset issuer : NXT-PTAV-JBPD-9QZ3-D52VR

Note : All wallets, servers, funds raised (including the funds raised right now) and code will be held by coinomat. Payments will be released to FS only on a milestone basis.

Source: https://nxtforum.org/asset-exchange-general/bringing-the-sae-back-to-life-barter/

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