Leveraging the ongoing success of the Safuu protocol, the Safuu team has announced the upcoming launch of the SafuuX.
The world’s first auto-rebasing layer 1 blockchain, is scheduled for Mainnet in January 2023. The SafuuX blockchain will use a Proof of Staked Authority (PoSA) consensus mechanism and feature SFX as the native coin, and SafuuX DEX as the native decentralized exchange on the SafuuX chain.
SFX will feature a huge never before seen introductory APY of 191,888% achieved through rebases, and employ a FixedFlex Model thereafter, offering up to 3.24% APY per day.
SFX will have the same auto-rebasing, auto-compounding, and auto-staking mechanisms as the original Safuu, ensuring holders earn reward payouts every 15 minutes.
“After seeing how successful the initial Safuu project was, it was obvious that expanding the concept into a full-fledged layer 1 blockchain was the natural progression of the protocol,” said Bryan Legend, the CEO of Safuu. “This is an entirely new concept, something never seen in DeFi, and we have a lot of additional features and benefits that we will announce in the near future,” he added.
Starting October 20th, 2022, there will be an initial ‘Sacrifice Event’ where existing Safuu token holders and holders of BTC, ETH, BNB, FTM, XRP, SOL, DOT, AVAX, MATIC, DOGE, SHIB, and USDT/USDC/BUSD stable coins will be able to sacrifice their current coins for SFX prior to the test net going live.
The earliest sacrificers on day one will be eligible for up to a 50% multiplier of their sacrifice rewards. The multiplier reward will decrease over time in the subsequent days, ensuring that early sacrificers are rewarded the most while still making sure even late sacrificers will be rewarded plentifully.
SFX tokenomics include an initial supply of 375 million coins, and an initial main net launch price of $9.00 USD.
For more information on SFX and the SafuuX Chain, visit the website.
About SafuuX
SafuuX Chain is the world’s first independent rebasing blockchain which uses Proof of Staked Authority (PoSA) consensus on a system of validators. SafuuX boasts smart contract functionality and is also EVM compatible.
The native coin of the SafuuX Chain is SFX which is used for paying gas fees, validator staking, and block rewards. SafuuX Chain is a standalone blockchain that, unlike other Layer-2 solutions, does not interact directly with the Ethereum base chain.
About Safuu
Safuu provides a decentralized financial asset that rewards users with a sustainable fixed compound interest model through the use of its unique SAP protocol.
Safuu delivers the industry’s highest fixed APY, paid every 15 minutes, and a simple buy-hold-earn system that grows your portfolio in real-time.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Source: https://beincrypto.com/safuuxfirst-auto-rebasing-layer-1-blockchain-2023-release/