Dally’s Teacup on Safex Market

Every great project needs a foundational symbol, some nascent object upon which can reside the embodiment of those early goals and ideals and, eventually, become the living proof that those same objectives have been achieved. For Safex Market, this aspirational symbol was Dally’s Teacup.

First mentioned in the original Safe Exchange Token whitepaper of November 2015, Dally’s Teacup was the symbolic commodity used as the example, to show how goods and services could be bought and sold in a decentralized, peer-to-peer marketplace.

And while the project changed course over the years, as explained in more detail in our Safex History article, Dally’s Teacup has been an enduring touchstone of the project, regularly used as the example product, when explaining the underlying concepts of Safex at crypto-conferences, youtube interviews and elsewhere.

But why “Dally’s” Teacup? Many of us with a strong online presence find an online nickname useful, whether that be for playing online games, having an alternative online identity, or simply for chatting in online forums. Dan’s alter ego is Dally Shalla, which he used as his predominant online crypto identity for some years.

So the naming of Dally’s Teacups in the Safex Whitepaper was simply a nod of recognition to Dan’s crypto nickname.

“In the earliest days of cryptocurrency and blockchain, there were very few of us and the merits of crypto were still nascent. I saw that this was an industry where we can bring forward our ideals, so I made a play on the Dalai Lama title, Dallyshalla, and my belief is that culture is shared by trade, and blockchain brings us closer than ever, the symbol of tranquility is tea and the tea cup is its vessel. This was the foundation I stood upon when developing Safex into the global marketplace of what it is today” said Daniel Dabek, the founder.

When the Safex Marketplace went live in December 2020, it was entirely fitting to take that symbolic Teacup example, which had been used as the project’s whitepaper example, and convert it to a tangible hold-in-your-hand actual Teacup.

Dan had a single commemorative Dally’s Teacup produced exactly as described in the original whitepaper - “fine porcelain teacup, made in Turkey”. To celebrate the successful launch of the Safex Marketplace, Dan, using merchant name safexdallyshalla, listed this Teacup for sale via the cli wallet.

It was promptly bought for 1000 Safex Cash (SFX) by Brian Dordevic, thus becoming the ceremonial first item traded on the live Safex Marketplace.

To further celebrate the successful launch of the user-friendly GUI Safex TWM Wallet, Dan had a batch of high quality, collectible glass Dally’s Teacups produced. These beautiful Swiss Bodum double-walled mouth-blown teacups became the first items offered for sale to users of the TWM Wallet, which the author and other community supporters quickly snapped up, to share a piece of commemorative history for the Safex launch.

Since those early Safex Marketplace sales, project development has continued. At the time of writing this article, over 2 million SFX have been spent on more than 250 purchases. Over 1200 seller accounts have been created, and more than $4million in products are currently listed for sale via the Safex TWM Wallet.

We are still in the early phase of platform adoption, and the future is bright for Safex in the coming years.

Download Safex TWM Wallet and explore the offer on Marketplace.