Bluepaper Questions


#1
  • Is four decimal places enough for Safex Cash? If Safex Cash is valued at 10,000USD then the smallest division will be 10,000 * 0.0001 = 1USD. What’s the advantage to this limitation?

  • How was the 0.02% figure arrived at for funding Safex software? I think setting aside funds for development makes sense, but wondering how you arrived at this figure.

There were a lot of interesting concepts in the blue paper, specifically escrow, arbitration, title markets, privacy, decentralization, dividends. This sort of “dual layer” approach where you have the marketplace controlled by Safex crypto tokens and another Safex cash crypto currency that exist within is pretty cool. Speed to market is going to be critical at this point - this isn’t going to remain a theoretical concept for long and the first one to get there is going to have a huge advantage.

Edit: Another question: how do you prevent people from squatting on Title Markets like people squat on .com domains? Should there be some built-in usage requirement? Certain Title Markets could become extremely valuable and there ought to be a way of selling them to someone else.


#2

It’s not going to be $10,000.

There’s 1 billion supply, so with the smallest unit as $0.01 ($10 per Safex Cash) we’ll have a market cap of $100 billion.

At $10k you’re looking at $100 trillion market cap.


#3

I do have another questions:

Safex Cash Airdrop

50% of the airdrop will go towards Safex Token holders – 5,000,000 Safex Cash.
This calculates to 0.0023 Safex Cash for every 1 Safex Token locked in.

0.0023 Safex Cash per SAFEX is in case 100% of all SAFEX is in wallets?


#4

The link you are referring to is not the official blue paper. The official blue paper does not give a specific amount of safex cash per a safex token. This safex amount could only be distributed to those that have their safex tokens locked in I would guess.


#5

But mathematics suggest 0.0023 Safex cash for ever Safex Token, assuming 100% are locked in


#6

That’s the point. It’s under the assumption that all safex tokens are locked in, I would imagine the percentage would be absolutely nowhere near 100%.


#7

Another question here.
What will happen with burned safex token on account activations and locks? will it go to developers or just disappear?


#8

Burned…


#9

So burned coins will be able to be mined again?


#10

Hi there safex team
I’m new here but have held my tokens since late November. I intend to hold them long term as I really believe in your projects. Think safex will become a major player.

My question is as I hold my tokens in an exchange will I still be eligible for the safex cash airdrop?

Kerep up the great work safex team


#11

No, it has to be in wallet


#12

Ok thank you
Should I transfer my safex tokens to the safex wallet then?
At the moment my safex tokens are frozen on my counspot exchange account but still moves in %


#13

You don’t need to do it right now, we’ll get more info as the marketplace comes close to going live

I would transfer to the wallet though if you don’t plan on doing any trading


#14

Ok great thanks.
Just intend to hold them long term & hopefully safex will take off :grinning:


#15

Is it better to have them in the safex wallet


#16

It’s definitely safer in wallet, exchanges could potentially get hacked.

The only reason you would keep it on the exchange is if you plan on trading


#17

Thanks for the info once I can tranfer my tokens I will


#18

I’m very new to the crypto world started November & still need to learn a lot


#19

It reads as though those coins are permanently locked, but you are still the owner, but cannot move or sell them. You get paid dividends for those coins as well

This is opposed to the coins you optionally lock for dividend payments


#20

I think burned means gone forever