[ANN] [SAFE] Safecoin - Solana Fork - Community Edition of Solana

[Mr-Coins]

Important Notice: Safecoin Swaps to Solana Codebase

Dear SafeTrade User

Firstly we would like to thank you for your continued support in using our platform. During the last 3 years, SafeTrade has evolved into what we feel is one of the finest community driven exchanges available. We pride ourselves in listing quality cryptocurrency projects which are also very community driven. In an effort to support them better we will be introducing an integrated and industry leading on-chain trading experience in the near future (SafeSwap).

This brings us to some very exciting news for SafeCoin, the foundation for our on-chain trading. Before we go on, here’s the take-home message for holders:

You will need to swap your SAFE before May 9, 2021.

For more info please visit:

https://discord.io/safecoin
https://safecoin.org/safecoin-swap-instructions
https://safecoin.org

Or get your questions answered at our next AMA: (March 27, 6pm UTC)
https://youtu.be/7UxjfhimeBY

As of this email, Safecoin is now based on a customized Solana blockchain implementation. This dramatic change fulfils SafeCoin’s original vision of providing secure on-chain decentralized trading with the real-time performance of a centralized exchange but without high fees, front-running, or other compromises. To meet this critical roadmap item required a complete rethink of the Safecoin blockchain and design, and it was absolutely worth it.

Safecoin didn’t just stop at moving to a Solana codebase, it was researched and developed for months to improve on it, to make Solana technology better for decentralization and adoption. Our various Consensus, privacy, data management and compression enhancements lowered the peripheral requirements to allow cost efficient use of SafeCoin’s highly performant, stable and secure Blockchain by anyone, allowing for widespread adoption.

Here is a quick real world example

Approximate unpruned disk space use over 1 year:

Solana: 160 Tb
Safecoin: 2 Tb (Identical Performance and Scalability)

Similarly proportioned game changing improvements in RAM, bandwidth, and more were achieved, and further performance improvements are in development. The modified consensus enables a wide decentralization of the Network by setting a low entry level to participate. This marks a turning point in our efforts to bring cutting edge technology in the hands of creators and inventors all around the globe and allows us to further proceed in creating the envisioned ecosystem, safe and secure, accessible for everyone.

https://preview.redd.it/lkhlaytffro61.png?width=1617&format=png&auto=webp&s=f838f69895d982e4ecdba159c2b989bd74fbed5a

The adaption of this new technology is a milestone for the project and enables the full vision of the Ecosystem to come to life and lays the foundation for a complete DeFi package. AMM´s, Decentralized Exchanges, Borrowing/Lending, Insurance and NFT´s, all powered and secured by Safecoin. With potential to process well over 50,000 transactions per second the Safecoin blockchain is able to host extremely throughput hungry applications at an unchallenged cost efficiency.

This will mean that the current SafeCoin Wallet addresses will no longer work. SafeCoin is doing a 1–1 swap onto the new chain. The coin swap is taking place on SafeTrade and you will have until May 9th perform the swap. Don’t want to swap on a centralized exchange? An on-chain solution (as part of SafeSwap) will be provided in the near future.

Jeff (@SafeCoin) really did a great job optimizing the codebase. The hardware reductions are a huge benefit!

Excellent mailshot. It’s clear safecoin is aiming much higher than previously.

I gather optimisation of storage and network has already significantly reduced resource requirements for validator owners.

Can I confirm that KYC is not a requirement for validator ownership, e.g. can anyone in any nation run a safe validator?

[Mofatness]

Sent a few SafeCoin from SafeTrade to the new WebWallet. As soon as I hit send the transaction had processed and confirmed. Amazing speed with the new codebase.

[Mr-Coins]

Sent a few SafeCoin from SafeTrade to the new WebWallet. As soon as I hit send the transaction had processed and confirmed. Amazing speed with the new codebase.

The speed is a potential game changer, there's so many applications for these virtually instant transactions times.

Theres' 1,500 confirmations in the time ikt takes bitcoin to do a single confirmation. It'll be interesting to see which application the team can develop on top of this ultra-fast infrastructure.

[Archimedes1618]

Can you give an estimate on a full roll out of SafeCoin Validators? Testing is ongoing now, correct?

Great question, we're looking at a 7-10 day rollout and we're looking for community feedback on what they want to see in the validators.  

Obviously, we're putting a lot of work into making them more accessible for people to run.    Initial testing has gone well

I'm really looking forward to the SAFE Validators release.

So, i'm going to put my $0.02 in now for the perfect Validator ...

1) Rewards. I saw in Discord that currently 80% of all SafeCoin Classic emissions go to miners.
2) Will the current emissions rate remain unchanged? ( 1440 blocks x 4 SafeCoin = 5,760/day )
3) How will the emissions be split between the Validator and the delegated Stake?

Given the above, am I right to assume that the earnings potential of your SafeCoin stack will now be considerably higher than the former SafeNodes simply because of the loss of the miners emission share?

Looking at Solana, their overall emissions rate is around 8%/pa and the returns on their Validators are reported to be around 13%/pa.

That is correct. The reward allocation should be several 100% higher than it is now, simply because the whole block reward goes to Nodes/stakers

[jadefalke]

Dunno why my First Post was deleted from the Moderator but again: Great Job Guys, pretty much looking forward to the next steps!

[Mr-Coins]

Dunno why my First Post was deleted from the Moderator but again: Great Job Guys, pretty much looking forward to the next steps!

What did it say? My curiosity is getting the better of me!

and BTW, SafeCoin is at $0.13, i think that's an ATH

[necromastery]

and BTW, SafeCoin is at $0.13, i think that's an ATH

Not yet, ATH is at $0.1778 if I take a look based on CMC. It's great to see all the excitement that's welcoming the new Safecoin chain.
Current prices are pretty good, it's only the dev really needs to do something to increase the trading volume. Too small at this time.

[Mr-Coins]

and BTW, SafeCoin is at $0.13, i think that's an ATH

Not yet, ATH is at $0.1778 if I take a look based on CMC. It's great to see all the excitement that's welcoming the new Safecoin chain.
Current prices are pretty good, it's only the dev really needs to do something to increase the trading volume. Too small at this time.

I think that ATH was before my time.

Totally agree though, the trading volume is still very low, although sometimes that can be seen as an opportunity. I think there's 45 days left until the swap ends, i'm not sure how much it will improve before that is complete.

[Mofatness]

Reminder!!

Get your SafeCoin Classic swapped by May 9th!!

A lot of exciting things coming in the next few months.

[Mr-Coins]

The safe team are holding an AMA in about 45 minutes from now:

"We have an AMA in one hour :slight_smile:
We will discuss the swap, validators, SafeSwap, and much more!"

Join here:
https://youtu.be/7UxjfhimeBY

Source: Safe Discord

[Mr-Coins]

Would really like to see the SafeCoin Validator information released.

1) What is the minimum number of #safecoin needed to run a validator?
2) What is the anticipated return per annum

I'm looking forward to running some SAFE Validators to help contribute to that magical residual income we're all trying to build from our crypto stashes.

I think Solana emissions are around 8% and with over half of all coins staked the returns on Solana Validators are around 13%.

[Mr-Coins]

Would really like to see the SafeCoin Validator information released.

1) What is the minimum number of #safecoin needed to run a validator?
2) What is the anticipated return per annum

I'm looking forward to running some SAFE Validators to help contribute to that magical residual income we're all trying to build from our crypto stashes.

I think Solana emissions are around 8% and with over half of all coins staked the returns on Solana Validators are around 13%.

Who’s considering running their own Validator and do you have experience of Validators on other projects?

[Mr-Coins]

and BTW, SafeCoin is at $0.13, i think that's an ATH

Not yet, ATH is at $0.1778 if I take a look based on CMC. It's great to see all the excitement that's welcoming the new Safecoin chain.
Current prices are pretty good, it's only the dev really needs to do something to increase the trading volume. Too small at this time.

So that’s the ATH to beat, $0.1778, currently hovering between $0.10 and $0.14, so not long before that record is smashed.

After $0.25 breaks it’s all about the $1.00 🙂

[Swagga82]

[Mofatness]

How is the SafeNode testing coming along?

[aginghippy]

are there any plans for novel uses of the new validators on the solana fork chain?

ill be waiting patiently for some documentation on how to set them up, already loaded up on the collateral 

[Mr-Coins]

are there any plans for novel uses of the new validators on the solana fork chain?

ill be waiting patiently for some documentation on how to set them up, already loaded up on the collateral 

I don't think we have long to wait, i've been adding to the collateral slowly, looking forward to parking it in a validator

[Mofatness]

Another ATH reached today. Word is spreading about the tremendous value in this project.

[Mr-Coins]

Another ATH reached today. Word is spreading about the tremendous value in this project.

Well it seems word is getting out. Up 100% today.

The worlds most performant and decentralised blockchain based on an improved and optimised solana codebase is starting to get attention.

I did hear there is an easter egg in the code somewhere, that contains 1000 SAFE immediately there for the taking, i dont know any more than that as im not a coder. Good luck to the person who find it!

If anyone wants to know more, head over to Discord or Telegram

Discord: https://discord.gg/vQgYGJz

Telegram: https://t.me/SafeCoinEN

[Mr-Coins]

Been doing some homework on the implementation of SAFE Validators.

The warm up / cooldown period is 3 epochs, each being around 2 to 3 days each.

If 50% of all coins get staked (as with Solana and the previous SafeNodes) then the annual return will be:

Emissions: 1,440 x 4 = 5,760 SAFE / day

Staked 50%: 15M SAFE

Earnings per SAFE Staked: 5,760 / 15M = 0.000384 x 365 = 0.14 SAFE per annum

Return: 14% per annum on whatever SAFE you delegate to a Validator

These figures are approximate, but I think they're close.

Discord: https://discord.gg/vQgYGJz

Telegram: https://t.me/SafeCoinEN

If you are in the market for SAFE then the best exchange is safe.trade:

Exchange: https://safe.trade