Safestar offers a frictionless yield protocol for users who want to avoid the hassles of connecting their wallet to a platform and spending gas fees on getting rewarded.
What is SafeStar?
SafeStar is a frictionless yield and liquidity generating protocol that works by applying 10% fees for each transaction. These transactions are subsequently split into two, 5% to locked liquidity, the remaining 5% distributed among holders.
This creates a system where token holders get rewarded without doing anything. Users must simply hold SafeStar tokens in a compatible wallet and they can watch their balance grow automatically, in a frictionless manner. The platform also incorporates a lottery system where users can catch fun for reward.
SafeStar token is integrated with a burn mechanism that tax 10% of the total amount per transaction, of which 5% goes to a locked pool and the remaining 5% split to stakeholder. This will help to reduce the total number of tokens in circulation over time. According to the statistics obtained from the website, a total number of 443,819,739,166,317 SafeStar tokens have been burned to date.
Earn passive income by the embedded RFI mechanics in the token. The RFI mechanics are responsible for the auto reward system that increases your balance. Whenever a transaction is done, whether a transfer between wallets, or a trade, SAFESTAR is split into two, where it is auto-locked and auto rewarded to holders.
Unlike most RFI based and deflationary platform without a working product, SafeStar has a native active lottery system with a weekly raffle draw held every week.
An active game is currently live and will end in 48hrs. A total of 500 million $SAFESTAR is required for entry and 150 billion $SAFESTAR token up for winning participants.
Fees generated from the lottery system are split into two; one part goes to the charity, which is currently around 0.9689 BNB, approximately $604 in today’s rate, and the constant burn of the tokens 51 billion $SAFESTAR.
How Does it Work?
Taking an assumption that the ticket price is 100 $SAFESTAR
100 lottery tickets are purchased, each costing 100 SAFESTAR
The total collected funds equal 10000 SAFESTAR
90 SAFESTAR goes to the prize pool, where winners will be shown on the prize distribution – chart.
10 SAFESTAR will cover network tx fees.
The jackpot will be split across all winners.
One guaranteed winner will win all Super Jackpot.
The lottery system will add to the auto passive income generating medium of SafeStar for holders who have a high-risk appetite and wants to add up to their holding.
As part of the token growth and the SafeStar project expansion, the token has been listed on P2PB2B, one of the top crypto exchanges. This exchange offers that boast more than $600 million in daily trading volume. $SAFESTAR is also active on PancakeSwap and Bitmart.
The platform reached a new milestone; more than 44% of the Total Supply has been burned forever, a whopping $18,40,311. More burns are expected as the number of holders reaches a new level—a strategy to continue reducing the total supply of the tokens.
The platform features both deflationary and RFI mechanics. Each transaction is taxed with 10%, 5% goes to the PancakeSwap locked LP pool, and the other 5% is split with holders.
The Total Supply – 1,000, 000, 000, 000, 000 $SAFESTAR
Circulating Supply – 556, 159, 642,139, 806 $SAFESTAR (at the time of this review)
Burned Tokens – 443, 840, 357, 860, 195 $SAFESTAR
The deflationary tokens can earn you up to 80% in the Annual Percentage Yield (APY), higher than any traditional system.
An extensive number of the Q2 roadmap has been achieved;
A revamp of the website and the whitepaper
Listing on P2PB2B exchange
Improvement of the lottery dapp
Full-scale marketing campaign
What’s left of Q2 will be the R&D of various dApps, including Non-Fungible Token and other decentralized instruments.
For Q3 2021:
Become a phenomenon on Social Media.
Marketing and product promotion campaigns.
Incorporate unique and exciting Non-Fungible Token technology.
Incorporate other DeFi instrument technology.
Continue to implement charity work into the core SAFESTAR product.
As you can observe, marketing has been activated to promote the platform, YouTube influencers, and various marketing campaigns. Incorporating Non-Fungible Token (NFT) technology(marketplace) will bring it up to speed with other DeFi protocols that have implemented certain forms of NFTs in their systems.
Governance voting will be the next phase of development for the platform. The major decisions for the protocol will be placed in the hands of the community. Other beneficial features will be decided by the community when this goes live.
Source : bsc.news
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