Safuu
Development
Original author(s)Bryan Legend
White paper"Safuu Protocol"
Initial release1 March 2022 (48 days ago) (2022-03-01)
Code repositoryBSCScan
Development statusActive
Websitesafuu.com
Ledger
Issuance schedule325,000 tokens released on March 1, 2022, rebasing at a 0.02355% increase rate every 15 minutes until february 28, 2023; it will rebase thereafter at a much lower rate until maximum supply is reached, around mid 2035[2]
Circulating supply788,500 (As of April 17, 2022)
Supply limit3.25 Billion[1]
Valuation
Market capUS$150 million (as of April 17, 2022)

Safuu (acronym of Sustainable Asset Fund for Universal Users) is a decentralized digital currency and a DeFi auto-staking and auto-compunding protocol that, at the time of its introduction, set the record for the highest annual percentage yield in the decentralized finance space, with an APY of 383,026%.[3] The interest is automatically paid to the holders of the token in their wallet, by increasing their amount of Safuu at a rate of 0.02355% every fifteen minutes, that is ninety six times per day.[4] Founded in the first quarter of 2022 by a team of developers headed by Australian entrepreneur Bryan Legend,[5] held its initial coin offering on March 1, 2022 with an initial supply of 325,000 tokens.[6] It has since quickly drawn attention in the crypto community for its ingenious features, such as the Fire Pit, an automated token burning process, and the LIC (Longterm Interest Cycle), mechanisms that help to contain inflation and keep the project sustainable, despite its high interest yield.[7][8] The project's smart contract has been deployed on the Binance Smart Chain.

Other Activities

Although still in its infancy, in April 2022 the project had already began diversifying its activities outside of the crypto world by introducing its racing team, in cooperation with Team HARD, [9] competing in the British Touring Car Championship.[10][11]

References

  1. ^ "Safuu token". Gitbook. 17 April 2022.((cite web)): CS1 maint: url-status (link)
  2. ^ "Safuu - Long term interest cycle". 17 April 2022.((cite web)): CS1 maint: url-status (link)
  3. ^ "Safuu - Launches Crypto's Highest Paying DeFi Yield of 382,945% APY". Globenewswire. 17 April 2022.((cite web)): CS1 maint: url-status (link)
  4. ^ "Up over 200% in 4 days: Why is Safuu protocol grabbing attention?". Kalkine Media Australia. 7 March 2022.((cite news)): CS1 maint: url-status (link)
  5. ^ "Meet The Entrepreneur Behind The Cover Of The April 2022 Issue Of InLife International: Bryan Legend". In Life Mag. 15 April 2022.((cite web)): CS1 maint: url-status (link)
  6. ^ "Safuu makes it possible for token distribution to be paid directly proportional to the epoch rebase rewards". CryptoCreed. 17 April 2022.((cite web)): CS1 maint: url-status (link)
  7. ^ "How SAFUU Protocol is Aiming To Make DeFi More Scalable and Sustainable". The News Crypto. 17 April 2022.((cite web)): CS1 maint: url-status (link)
  8. ^ "Top 3 DeFi Projects Worth Considering in 2022". Jannah News. 6 April 2022.((cite news)): CS1 maint: url-status (link)
  9. ^ "TEAM HARD. RACING REVEALS SAFUU.COM TITLE PARTNERSHIP". BTCC. 7 April 2022.((cite news)): CS1 maint: url-status (link)
  10. ^ "Safuu.com Joins Team HARD. Racing as Title Partner". Team HARD. 17 April 2022.((cite web)): CS1 maint: url-status (link)
  11. ^ "Nicolas Hamilton remains with Team HARD for third BTCC campaign". Touring car times. 18 April 2022.((cite web)): CS1 maint: url-status (link)