An introduction to Safest (SFT)
By now, the crypto markets have become familiar with DeFi and Farming protocols. With a recent influx of a huge number of Sushi copy cats, lot of projects have made their way into the Uniswap markets. Some have been innovative and tried to bring a new aspect, but most of them have been just a copy.
What we have today, is a very popular token design which is “Yield Farming”, but not a lot of them got the success they deserved to maintain popularity more than a week or two outside the giant YFI.
It’s very important to understand why, so in this article, we will first discuss the current state of the market and the problems these yield farm products have, then propose an adequate solution which we believe is our product as we have a very innovative solution to a very big problem in this space which is inflation and sell pressure.
The problem
In order to understand a bit more what the problems are, we will take a look at most popular yield farm protocols. We can successfully name projects like Sushi, double token mechanism such as Bill Drummond’s projects, Core with its LP burn.
Most of these projects, if they got named today in our article, is because they earned the merit to have been the innovators of a new function and experiment, and should be recognized as pioneers for attempting to bring different solutions to the table.
The only project that truly succeeded in bringing value to their investors was YFI, and why is that? It’s because they had a system that favored buy pressure over sell pressure with their vault mechanism. However, in our opinion, even YFI has a fundamental obstacle to its success. That problem is shared by ALL the projects out there today: Inflation and block rewards.
Current inflation is either unbalanced as there’s too much inflation and supplies grow indefinitely, or it’s too little and people don’t get enough rewards for this to incentivize farming.
Even optimized systems favor early farmers drastically making it, in its nature, a sort of a ponzi scheme, where early investors just eventually dump it hard, and as time passes by, it’s just no longer worth farming. And many other projects tried to add Deflation, but the problem with deflation is that it’s highly incompatible with yield farming, and has proven to be a failure over and over.
Concerning buy pressure, we believe that we have to look outside DeFi. For about a decade people mined BTC and they are still mining it, it’s the most primitive and most trustable source of income in crypto. We believe, we can use this power in DeFi. How? Well you’ll see.
What is Safest?
Safest (SFT) is a yield farming project inspired from DeFi Protocols and drastically improved from a tokenomics point of view.
We have combined several attractive features:
- Farming with LP tokens.
- Use part of LP tokens to mine BTC in various locations in the world with cheap electricity (0.05$ per KWH) and buyback SFT with BTC (adding buy pressure forever)
So what is our innovation here?
Here’s our innovation: Inflation and Block rewards and the model of buybacks.
We understood the importance of balance these protocols required. We loved BTC mining because it’s trustable and sustainable, And this function increasing buy pressure inherently. Better to say massively.
All it needed is a functioning inflation.
This is why we added a fixed total supply: 1 000 000 000 000 coins.
For a yield farm to properly function on a fixed supply, it’s very hard because you need an adequate growth equation, that when you’re using time factor, at infinity, it gets close to 1 000 000 000 000 but never reaches it. This is why a linear approach doesn’t work here.
Also, inflation needs to balanced, and rewards should decrease overtime but at a balanced rate. Most yield projects today use what we call a “halving” event. This is a bad idea, because often rewards are very high early on which increases sell pressure and lowers the valuation of the token.
This is why it’s very important to best balance.
For this, we need an equation capable of achieving a curve like a transitory regime in physics.
Tokenomics
Token Ticker: SFT
Total Max Supply: 1 000 000 000 000
First Day Circulating supply minting estimation: 8 000
1 Farming pool: SFT/BNB
Pool contributors (May Change due to community requests):
PANCAKE SWAP:
SFT-WBNB
WBTC-WBNB
USDT-WBNB
USDC-WBNB
DAI-WBNB
LINK-WBNB
LP tokens allows you to farm SFT, but a part of that will be tuned to BTC mining devices, then the smart contract automatically converts BTC to RenBTC with RenBridge and then RenBTC to WBNB and back SFT tokens by buying the market which increases buy pressure on SFT/BNB, then burns these bought SFT tokens.
Advantages
The most important thing for a yield farmer is value. Period. Value can’t come out of thin air.
Yield farming can be used as a means to an end, like governance or NFT meme, but we don’t believe that this brings tangible value.
Our protocol mine BTC:
-BTC is the king and we believe it will be the same for next decades. We can use this function and mining to bring true value to our ecosystem. Fully sustainable and trustable with an ROI of over 200% per year.
- Benefits our token, as contract adds constant buy pressure, coupled with our Berhane model for inflation, inflation’s effect is very low, this drives the prices higher.
Buy pressure > Sell pressure.
One of the advantages as well of our protocol is the low dev rewards and its mechanism.
Team reward
Contrary to other farming protocols where dev wallets tax 10% / 8% of each block reward, like Sushi, Dracula and almost every other protocol, we don’t use that mechanism.
We believe that this kind of rewarding mechanism eventually leads up to extra sell pressure, as teams rush to dump those tokens to make profits.
For instance, Sushi dumped 17 million dollars’ worth of tokens, which basically destroyed any hype it gathered.
The temptation is just too strong.
Here at Safest, we don’t have a 10% or 8% tax on dev wallet.
Instead, we reward ourselves 2% of LP tokens.
Plus we will take another 3% of LP tokens to run BTC farms around the globe. Speak of numbers, for each 100M total value locked, 3M will run BTC farm and with good mining devices and cheap electricity we can have an ROI of 200% per year at these rates. That means 6M$ buy back per year. Mining and farming all in one, for everyone. The most sustainable way to give value to a DeFi project.
