SafeBitcoin (SAFEBTC) is a yield-generating DeFi protocol combined with the storage utility of Bitcoin. The SafeBitcoin protocol seeks to ensure an easy, secure, and cost-effective transaction mechanism. The platform states that the prime motive of the community is to facilitate reward generation for the token holders. Besides, the platform also aims to benefit both individual and business users.

The network seeks to facilitate a scalable system that allows for authenticity, account recording, and a database in a decentralized exchange (DEX). In a DEX, the network activities such as security and asset transfer are managed by the users and not third parties. Since third parties such as centralized financial systems are not part of the recording and confirmation of transactions in the blockchain, SafeBitcoin considers the network secure. This decentralization also seeks to eliminate fraud, theft, and user fees.

The ticker of SafeBitcoin is SAFEBTC, a Binance Smart Chain (BSC) token. Notably, the protocol seeks to offer a penalty feature to the transactions. This feature intends to boost liquidity, lower token supply, and reward the holders. The platform aims to achieve this tokenomics by sharing 4% of each transaction fee equal to the liquidity pool and token holders to reduce supply. Consequently, the mechanism seeks to eliminate gas fees during token farming.

Further, the network burns tokens as a means to increase the value of tokens by reducing supply, making SAFEBTC a deflationary token. Subsequently, this burning mechanism seeks to maintain the community rewards in SafeBitcoin. Furthermore, the platform also endeavors to launch NFTs, live charts, price aggregators, and more.

The SafeBitcoin platform was launched in March 2021. Further, in 2021, the SafeBitcoin network introduced a lending and farming platform and mobile app for users.

The SAFEBTC has a total supply of 1,000,000,000,000,000 (1 quadrillion) tokens.

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