SAFUU Price

What Is Safuu Protocol (SAFUU)?

Safuu Protocol is a project designed to make crypto staking easier and more efficient. The project's native token, SAFUU, is short for Sustainable Asset Fund for Universal Users.

Initially, SAFUU was a cryptocurrency with a compound interest model that allowed users to automatically receive rewards for holding the crypto. However, the project has evolved to include even more applications. The Safuu team recently announced the Layer 1 SafuuX (SFX) chain and transitioned their compound interest model from SAFUU to the SFX token.

However, even though the team behind Safuu Protocol is transitioning to SFX, SAFUU remains operational. SAFUU is now a bridging token that’s a direct market pair with the SafuuX Chain and SFX token. It’s also a purely community-driven project. The modern version of the Safuu protocol does away with staking rewards, and now implements an auto token burn.

SAFUU Price

SAFUU was launched on Mar 17, 2022 at $170.72. The Safuu Protocol was originally released featuring the ability to earn rewards by holding tokens, so it generated a lot of buzz in the crypto community. Just three days after release, the price shot up to $207 per token.

Over the next few months, SAFUU’s price remained high, with a slight dip to $130 as people became concerned about the project's viability. But for the most part, SAFUU remained above $150 throughout the spring. On Mar 22, 2022, SAFUU reached its all-time high of $227.55.

However, when the Safuu community announced plans to switch to SafuuX in late April, the price of SAFUU started to cool down drastically. From its announcement on Apr 24, SAFUU's price plummeted from $203.18 to just $51.22 on May 10.

Since then, the SAFUU token’s price has never reached its former heights, and has steadily declined other than small peaks of $25 in July 2022 and $4 in November 2022. Though the price of SAFUU fluctuates by small increments, it’s mostly continuing its downward trend. Since 2023, SAFUU’s price has been below $0.50.

What Is SAFUU Used For?

SAFUU is a BEP-20 token that was used for providing rebase interest for token holders every 15 minutes. However, this utility has since been migrated to the new coin of the Layer 1 SafuuX Chain, SFX.

Now that the SafuuX chain is operational, SAFUU has gained several new uses:

• As a market pair with SFX
• Bridging token to the SafuuX Chain
• Add liquidity to the SAFUU/BNB liquidity pool to support the SafuuX Bridge
• Maintain the Safuu Insurance Fund (SIF), which buys back and burns additional SAFUU
• Take part in the community voting system to vote on future decisions

SAFUU Tokenomics

SAFUU has a theoretical max supply of 3.25 billion, but as a deflationary and non-rebasing token, the supply is constantly dropping so that threshold is unlikely to be reached.

The Fire Pit burns 6.5% of all traded SAFUU, which reduces the circulating supply, as more SAFUU gets burned the more it’s traded. In addition, the SIF is fed by 14% buy fees and 16% sell fees.In addition, 7.5% of buy fees and 9.5% of sell fees are stored in the SIF. All of the taxes accumulated by SIF go toward buying back SAFUU at the current market price. Thereafter, all such tokens are burned in the Fire Pit.

Who Is the Founder of SAFUU Protocol?

Safuu Protocol was founded and is run by Bryan Legend. Also known as Bryan Seiler, he has been involved in controversial projects such as Fitrova, Clever DeFi and TAGZ Exchange.

We advise caution and thorough research if you are interested in this project or coin.

How to Store SAFUU

You can store SAFUU tokens on any BEP-20 compatible wallet, such as Trust Wallet, Binance Chain Wallet or MetaMask.