Security is of utmost importance. However, even though this is already given, most people still lack security awareness. At the same time, many people also hope to get the answer to this question of whether centralized exchanges are safe or not. SAFU, or the User Safe Asset Fund, was born shortly after the Binance Exchange was hacked.

SAFU and DeFi

Many people are aware of time locks, but they also face a series of problems. For example, once decreasing tokens are locked, people cannot withdraw or unlock them unless they top up the corresponding amount in the transaction. SAFU is not only the cheapest time lock currently on the market, but its emergence has solved the problems of time locks.

Co-founder Nassim Bouslama believes that we can think of SAFU as a game that can beat the big boss. In this game, you must follow its given set of rules, or more precisely, remember every step of defeating the boss. This is how the SAFU protocol is programmed. So as long as you remember these steps and follow the actual operation of the protocol, the "player" may eventually defeat the "big boss.”

The SAFU community has gathered a lot of crypto enthusiasts who want to try out the blockchain market. This has become a gateway for new users to experience cryptocurrency. In fact, some of them even very wisely use these free tokens to trade and get more income from them. Therefore, SAFU decided to enable DAO to guide the community, including what to do and add to the ecosystem. The community can use the token as a utility in the future.

SAFU's value proposition

Chief Security Officer Aare Reintam pointed out in the interview that the security of DeFi is critical. To execute the contract, SAFU introduces compliance and trust into the ecosystem. Although the current SAFU scanner is not yet mature, it will provide the market with an easy-to-use and relatively cheap solution in the future and offer different smart contract-level trust relationships.

For example, if the contract commitment changes and the submission date is approaching, SAFU will perform a scan and provide a dedicated contract evaluation. In order to achieve this vision, the key is that the scanner must be accessible, fast, and have an easy-to-use interface. The value of this is that if you can hold historical information, you also gain the trust of the ecosystem.

Nassim revealed that they are developing a separate tool to integrate the SAFU scanner with other projects. "This is very useful, especially for exchanges or DeFi wallets,” he said. In the DeFi field, everything is inseparable from trust. So it’s safe to say that you will eventually trust the developers or founders of each project to lock in liquidity and show. In addition, they provide investors with a certain degree of security, especially their users and members, so you have something to hold on to. Also, the security certificate of some projects will be used as NFT. If the project holds a certain amount of tokens, then they can scan and get adhesion scores.

Who is SAFU open to?

Nassim pointed out that they will simplify the user experience and allow anyone to enter SAFU easily in the future. They want to streamline the processes so that even a novice can use them in just two or three steps. In addition, the scanner will display a percentage score. If the score is low, then it means "this is not safe, please do not buy it, there is no need to invest in it," or there is an insecure factor in the function of the smart contract. Thus, you will be warned of probable risks along the way that you may encounter.

Conclusion

To wrap it all up, blockchain technology can be considered safe. After all, most people are honest. This also means that the value linked to our digital assets is because most people believe it is valuable. But the whole concept is relative. Blockchain enables us to avoid using banks as third-party intermediaries.

But to a certain extent, we still have to trust third parties. Therefore, the safety of our investments in ourselves is still at the mercy of any company that holds our funds. Although this sounds scary, you must know that all suitable investments have risks, and the greater the risk, the higher the potential return. In this evolving industry, with SAFU, you will be able to secure potential benefits.