The world’s first auto-rebasing Layer 1 Blockchain is set for 2023 release
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Press release: SafuuX plans to revolutionize the entire rebase concept.
19 August 2022, Brisbane, Australia – Capitalizing on the ongoing success of the Safuu protocol, the Safuu team has announced the upcoming launch of SafuuX. The world’s first auto-rebasing layer 1 blockchain, scheduled for Mainnet in January 2023. The SafuuX blockchain will use a Proof of Staked Authority (PoSA) consensus mechanism and have SFX as the native coin, and SafuuX DEX as the native decentralized exchange on the SafuuX chain.
SFX will feature a massive never-before-seen initial APY of 191,888% achieved through rebasing, and then use a FixedFlex model, 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 receive 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 evolution of the protocol,” said Bryan Legend, CEO of Safuu. “This is a completely new concept, something never seen in DeFi, and we have many additional features and benefits that we will announce in the near future,” he added.
Starting on October 20, 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 stablecoins will be able to sacrifice their current coins for SFX before the testnet goes live.
The earliest sacrifices 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 following days, ensuring that early victims are rewarded the most, while ensuring that even late victims will be richly rewarded.
SFX tokenomics includes an initial supply of 375 million coins, and an initial net launch price of USD 9.00.
For more information on SFX and the SafuuX chain, visit https://www.safuux.com/
About SafuuX:
SafuuX Chain is the world’s first independent rebasing blockchain that uses Proof of Staked Authority (PoSA) consensus on a system of validators. SafuuX has smart contract functionality and is also EVM compatible. The native coin of SafuuX Chain is SFX which is used to pay gas fees, validation effort and block rewards. SafuuX Chain is a stand-alone blockchain that, unlike other Layer-2 solutions, does not interact directly with the Ethereum base chain.
About Safuu:
Safuu offers a decentralized financial asset that rewards users with a sustainable fixed rate 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.
Media contact:
Damian MacRae
CMO 2IC, Safuu
[email protected]
