Safex Token

Safex Token (SFT) is the utility token powering Safex, a community-driven open source marketplace platform on the blockchain. The platform aims to simplify trading goods and services and prevent merchants from the odds of centralized web stores. Mostly regulated platforms levy high charges against transactions and leverage data to expand their customer base. However, Safex allows merchants to create unstoppable web stores and conduct direct trading of goods without intermediaries. As its Bluepaper describes, Safex introduces a fungible digital asset system. The platform envisions using digital crypto assets as the primary medium of exchange in web-based commerce.

Safex seeks to encourage mass adoption of cryptocurrency in the world of eCommerce. To ensure maximum productivity and secure trading, Safex runs on a privacy blockchain. The blockchain utilizes a crypto-node application layer protocol to secure and stop the spreading of valuable information. Also, the Safex blockchain includes upgraded marketplace protocols with a vision to facilitate secure borderless transactions and eCommerce.

SFT or official Safex token provides merchants the means to license their business on the blockchain network. The network imposes a 5 percent charge on the successful trading of goods and services in the marketplace. However, the charges are handed out as token rewards to all SFT holders. In addition, merchants can lock SFTs and stake the tokens to keep rolling revenues from the marketplace. Besides encouraging revenue sharing, SFT empowers users to vote and participate in the platform’s work and decisions.

The Safex network also features Safex Cash, a mineable crypto coin that functions as a secure medium of exchange within the Safex ecosystem. The utility token seeks to optimize interaction and usage between the participants in the marketplace. Safex Cash relies on a Proof-of-Work mechanism to mine coins without the need for expensive rigs. Mining of the token is pretty much effortless using CPU and GPU.

Daniel Dabek is the creator and founder of the Safex Token (SFT). Daniel is the former lead software architect in the blockchain industry. Currently, he is the executive director of Safex Foundation. The blue paper was published on January 3, 2018, by Daniel and Ivana Todorovic, the principal designers of SFX or Safex Cash.