Safuu
Crypto Overview
Overview
Safuu is an algorithmic rebase token launched in 2022 on the Binance Smart Chain (BSC) that promised fixed APY returns of 383,025.80%. The protocol claimed to achieve this through a combination of treasury investments and automatic rebasing of token supply.
Stated Purpose and Utility
The project claimed its purpose was to provide 'sustainable' fixed returns through rebase mechanisms and treasury management. The token was meant to automatically increase holders' balances through positive rebases while maintaining price stability through various mechanisms.
Business Model Analysis
The project's business model relied heavily on new investors buying tokens to sustain the extremely high APY payments. While not explicitly a lending protocol, the promised returns and mechanics closely resembled interest-bearing products.
Real-World Adoption & Usage
The project showed significant red flags typical of unsustainable schemes: Extremely high promised returns, heavy marketing focus on unrealistic APY, and dependency on continuous new investment to maintain token value. Trading volume and user activity has dropped to near-zero levels as of 2024.
Development Activity
There appears to be minimal legitimate development activity. The focus was primarily on marketing rather than building sustainable technology or use cases.
Token Distribution
Detailed information about token distribution and founder holdings was not transparent, raising additional concerns about the project's structure.
Crypto Impact
To assign a comfort level investing in Safuu from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Safuu.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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