Up over 200% in 4 days: Why is Safuu protocol grabbing attention?

Follow us on Google News:
 Up over 200% in 4 days: Why is Safuu protocol grabbing attention?
Image source: © Photonphoton | Megapixl.com

Highlights 

  • SAFUU is up 24% in the last 24 hours.
  • Launched on 3 February 2022, SAFUU is the native token of Sustainable Asset Fund for Universal Users (Safuu).
  • Safuu provides the fastest auto-compounding protocol in crypto as token holder gets interest in every 15 minutes.

SAFUU token, which is up over 200% in the last four days, is grabbing attention these days. Launched on 3 February 2022, the native token of Sustainable Asset Fund for Universal Users (Safuu), are paid as interest rebase rewards. As per Safuu, every token holder in the BSC wallet receives 0.02355% interest every 15 minutes (an annual yield of 383,025.80%). Safuu claims it is crypto's highest-paying auto-staking and auto compounding protocol.

Compared to its peers, Safuu provides much higher annual yield along with features such as automatic burn, sustainable rebasing, auto-liquidity and insurance fund.

SAFUU price

At the time of drafting, SAFUU price was hovering at US$147.64 on crypto exchange CoinMarketCap. It is up 24% in the last 24 hours. After touching an all-time low of US$47.43 on 2 March 2022, this token has rallied nearly 211% in the last four days.

Worth mentioning here is that cryptos are a high-risk investment due to high price volatility. Investors need to exercise extreme caution while investing in these instruments.

CoinMarketCap ranks this crypto at 3,016th place. It has a fully diluted market capitalisation of $48.5 million and has a supply of 329,158 coins.

Why is SAFUU grabbing all attention?

Of late, DeFi is generating huge interest among investors as it is becoming the easiest and agreed-upon way to make money work for you by locking or staking tokens and receive interest income at higher rates, which most thought were unachievable. DeFi companies often use financial algorithms and token staking strategies known as protocols consisting of smart contracts to create these high returns.

Developers of Safuu have introduced the Safuu Autostaking Protocol (SAP), a Decentralised Finance (DeFi) 2.0 protocol that provides a decentralised financial asset, which rewards users with a fixed compound interest model through the use of its unique proprietary protocol.

SAP provides token holders a consistent fixed return of 382,945% per annum from staking. The distinguishing feature is that here interest yield is paid automatically and compounded in the wallet, guaranteeing investors never miss a payment.

Safuu provides the fastest auto-compounding protocol in crypto as token holder gets interest in every 15 minutes. This means interest is compounded 96 times each day.

Auto burn is another exciting feature of Safuu Protocol. The Fire Pit is an automatic token burn system of Safuu protocol and aims to contain circulating supply so that it does not become unmanageable. The Fire Pit burns 2.5% out of all Safuu token market sales.

On 6 March, Safuu, through its official twitter handle informed that it burned AU$568,800 (5000 [email protected]$113.76) into the Fire Pit. At that time, the Fire Pit held 4.39% of the total supply and the value of Fire Pit was US$1,771,179 with 15,619.96 SAFUU tokens in it.

On February 20, the company made public findings of the audit of its system conducted by Solidity Finance, which said, "Please ensure trust in the team prior to investing as they have substantial control in the ecosystem."

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK