Building on a reputation for community design and decentralized finance innovation, the Safex community is expanding its platform with a new launch for its online marketplace powered by the Safex Cash (SFX) token.
Miners, Tinkers, Traders: Getting Involved
A combination of the SFT market token and a mineable SFX coin allows various stakeholders to profit from participating in the Safex adventure. On one hand, egalitarian mining procedures open the field for those who want to get involved this way. On the other end, vendors and sellers get connectivity with a secure environment.
“Grow your business on your terms,” offers the Safex web site, detailing how a new fundamental transaction platform can open doors in ecommerce. There’s also a kind of synergy in how fees are treated. First, the Safex platform is a relatively low-fee option for deal-makers. Second, a 5% portion of those collected fees get returned to staking asset holders. That concession to prevailing interest-bearing alternatives in the defi world is another feather in Safex’s cap.
Open Source Technology
The Safex ecosystem is an open-source project in many different ways. A community is involved in charting the course of the network – holders of the token get voting rights, in a design that welcomes outsiders to become insiders by virtue of buying.
Then also there’s the ASIC-resistant design and proof of work system, where makers ensure that the mining of Safex will not become the domain of certain exclusive elite rigs and companies that will build power as Kings of the mountain. 51% attack? Not a problem. Diversity of holdings promises a network that will stand the tests of the open market as it scales.
Safex Protections on the Network
Another interesting aspect of the Safex private blockchain based transaction design, accommodates the rank-and-file of merchandisers and buyers on its platform. There’s stealth addressing, and the use of modern ring signatures, where combining functions free up the functionality involved in this form of frictionless and permissionless digital finance.
Proponents of the technology describe it as pushing the envelope further than some of the big digital merchants have already gone with third-party cryptocurrency payment systems tethered to their online catalogs.
“Alibaba is the one of most famous and fastest growing companies in China,” explains Cathay Zhu, CEO of crypto enterprise Bw.com, in a press statement going into detail on this principle. “It is an e-commerce marketplace with its own payment system Alipay. SafeX platform is one more step into the future as a privacy-focused open-source decentralized marketplace platform based Blockchain with its own payment and profit sharing system. We are very excited to work with Safex and to launch SFX on the BW’s To the Moon section. It will give BW users an opportunity to participate in the Safex ecosystem.”
With a market cap of around $7.9 million, Safex appears to be scaling. The token’s hash rates have been telling a much more promising story. Look for more around this functional ecosystem as defi advances solidify in our modern finance systems.