This blockchain will be the first of its kind to do an automatic rebase to the block that came before it when it goes live on Mainnet in January 2023. The SFX coin and the SafuuX decentralized exchange were both developed in-house as part of the SafuuX network. Proof of Staked Authority (PoSA) is the name of the consensus technique that will be used by the SafuuX blockchain.
Immediately after achieving an unparalleled introduction APY of 191,888% through rebases, SFX will transition to a FixedFlex Model, which will pay out as high as 3.24% APY on a daily basis. Holders of SFX will, similar to holders of the original Safuu, be guaranteed to receive reward payouts every 15 minutes thanks to automatic staking, compounding, and rebasing features.
"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 progression of the protocol," said Bryan Legend, the CEO of Safuu. "After seeing how likely to succeed the preliminary Safuu project was, it was obvious that enhancing the construct into a full-fledged layer 1 blockchain." This is an absolutely novel idea, one that has never been tried before in DeFi, and we have a great deal of additional features and advantages that we will be announcing in the very near future.
Existing Safuu token holders, as well as owners of BTC, ETH, BNB, FTM, XRP, SOL, DOT, AVAX, MATIC, DOGE, SHIB, and USDT/USDC/BUSD stable coins, are eligible to take part in a "Sacrifice Event" beginning on October 20th, 2022. This event will take place prior to the launch of the test network.
The prizes for those who made sacrifices on the first day could be raised by as much as fifty percent. Early participants will be rewarded more than those who wait until later in the process to take part because the sacrifice multiplier will steadily diminish over the subsequent days.