Introducing SAFULOCK 🔒

4 min readAug 25, 2021

SAFU Team are extremely delighted to announce the Launch of SAFULOCK v1, a very important component of our set of tools focusing on “Making DEFI a Safer Space”.

We aimed to launch Friday Aug 20th at 8pm but have delayed the launch of to roughly around 6 hours until 2:30/3AM BST on Saturday Aug 21th 2021 after a series of tests and an inhouse lite audit of the code.

The first lock was successfully made before the public launch by our Co-Founder “Nas” Nassim Bouslama who locked 100 Billion SafuYield Tokens for the period of 1 Year and then SAFULOCK v1 launch was announced.

SAFULOCK is completely new and more affordable for the average crypto user, with an awesome compound farming reward system of up to 107.36% when locking SafuYield Tokens.
Totally different from its existing competitors, such as Unicrypt or Deeplock which was used initally to lock SafuYield Protocol Tokens Liquidity Pool for over 100 years.

SAFULOCK has also solved the issue faced by Deeplock when it comes to locking deflationary tokens where the lock smart contract code does not calculate the burned fees while sending funds to the lock wallet address.
This makes it impossible to withdraw locked deflationary assets from Deeplock as the users currently must top up the initial amount burned from the amount of deflationary tokens when lock time elapses to be able to claim their original funds back.

What’s new?

SAFULOCK FEATURES

SAFULOCK BNB
SAFULOCK all Binance Smart Chain BEP-20 tokens
SAFULOCK all Binance Smart Chain BEP-20 LP tokens
SAFULOCK standard price per lock is 0.01 BNB

SAFULOCK Rewards

Lock SafuYield Tokens for 3, 6 or 12 months, and earn up to 107.36% APY.

Terms & Conditions Applies

Minimum amount to top up to receive SafuYield awards is 1 billion SAFUYIELD tokens

Maximum amount to top up to receive SafuYield awards is 100 billion SAFUYIELD tokens

Disclaimer

Rewards will only be credited for a max cap of 100 billion SafuYield Tokens per 1 SAFULOCK wallet.

As we can’t mint new SAFUYIELD, with SAFULOCK farming we only distribute the funds we got left on the Airdrop wallet, the first rewards APY halving will be at 5 trillion SafuYield tokens locked, the 2nd APY halving will be at 7.5 trillion tokens locked.

How to use & earn Rewards on SAFULOCK 🔒

READ VERY CAREFULLY BEFORE USE ✅

New SAFULOCK cost is a flat 0.01 BNB + standard network fee
Top up SafuYield Tokens Cost a standard network fee

To Receive Rewards

Min Topup: 1 Billion SAFUYIELD.
Max Topup per 1 SAFULOCK: 100 Billion SAFUYIELD.

Guidelines

(1) YOU MUST HAVE A MINIMUM OF 1 BILLION SAFUYIELD TOKENS TO USE SAFULOCK AND SOME BSC (BINANACE SMART CHAIN) FOR TRANSACTION FEE

(2) OPEN SAFULOCK ON DAPP / BROWSER ON TRUSTWALLET OR METAMASK(desktop).

(3) CREATE NEW SAFULOCK WALLET/WALLETS BY CLICKING ON “NEW SAFULOCK” ACCORDING TO HOW LONG YOU WOULD LIKE TO LOCK YOUR SAFUYIELD.

(4) SEE REWARDS APY DISPLAYED FOR 3 MONTHS , 6 MONTHS AND 12 MONTHS.
YOU CAN CHOSE TO LOCK FOR 3 MONTHS, 6 MONTHS or 12 MONTHS.

(5) CLICK TOP UP ON YOUR LOCK AND TRANSFER ANY AMOUNT OF SAFUYIELD ABOVE 1 BILLION TO START RECEIVING REWARDS.

More to come ..

SAFULOCK is on Version 1, there will be more UX updates coming up shortly, also new components and a separate UI for LP locking and detailed stats for projects using our Liquidity Pool lock.
Stay tuned for more updates…

#SAFU