Defi (Decentralized Finance) has taken the world by storm. Although the industry is still in its infancy, it has managed to grip the attention and imagination of the masses. Although the industry still has a lot of issues, one thing is quite certain- Defi is here to stay. Now SafeClassic is one such initiative, to address some of the issues within the industry.
The SafeClassic Protocol tries to address the issues of earlier cryptocurrencies, such as liquidity provisioning, mining incentives, and farming rewards. Equipment used in mining can be expensive and damaging to the environment. However, due to the potential in the sector, mining continues to lure investors. SafeClassic suggests allowing users to take part in a smart contract token reflection to create tokens inside their own wallets as a simple substitute for mining incentives.
SafeClassic belongs to a group of tokens that pay investors simply for holding them. The longer an investor holds, the greater the cumulative rewards are.
The goal is to get rid of token dependencies, which have in the past led to issues. This includes the pooling of funds in unreliable third-party smart contracts, the use of external website interfaces, and the requirement for transaction fees in order to collect rewards.
The native token of the project is $SAFECLASSIC. The total supply is capped at 1,000,000,000 tokens. Of the supply, 5% goes to the bounty campaign, 5% is for the advisors, 20% will go to the founders and team, and 35% is reserved funding. lastly, 35% of the tokens are for the HebeSwap LP.
There is a 12% tax on transactions. 6% is the fee, while 4% is redistributed to all holders. 1% is burned, while another 1% is added to the SafeClassic Ecosystem Growth Fund.
The SafeClassic team has a road map laid out for the foreseeable future. As per the official whitepaper, from September to November 2022, the team plans on running advertisement campaigns to spread awareness.
In November and December, the team plans on raising $75,000 for their liquidity pool. The team also plans on reaching 1000 holders, and 20,000 members on Telegram, and making its first airdrop.
The SafeClassic token has also been added to crypto tracking websites, Coinmarketcap and Coingecko, which adds another level of reliability. They also expect to reach 5000 holders and 50,000 members on Telegram in the same time frame. The team also intends to push influencer marketing early next year.
From February to June of next year, the team will push further CEX (centralized exchange) listings, while reaching 25,000 holders. The team will also release ClassicSwap sometime between Feb and June of 2023.
There will be additional releases between June and December 2023. The team will release the ClassicWallet, ClassicCard, and ClassicLaunchPad in that time period.
How will SafeClassic bring value to the Ethereum Classic ecosystem?
Ethereum Classic (ETC) has quite a spotlight upon itself, with the merge right around the corner. One reason for ETC’s sudden popularity is that many expect current Ethereum miners to join and mine on the ETC network. ETH will no longer need miners, and it would be difficult to just quit the industry as many have invested a lot of resources into the space. ETC seems like the perfect project for the soon-to-be project-less miners.
Now miners moving to the ETC network also improve the security of the network, which has been an issue in the past. Additionally, many expect ETC to make positive moves in regard to its price point.
With so many miners possibly migrating to the ETC network, a project like SafeClassic can provide ample opportunity for growth and benefits. Problems of liquidity provisioning, mining incentives, and farming rewards can be easily dealt with hence bringing additional value to the network. Moreover, there would be no transaction fee for collecting rewards. Investors would also not need to depend on unreliable third-party applications or websites.
DISCLAIMER: THIS IS A SPONSORED ARTICLE.