SafeETH: A Non-Custodial Digital Asset Storage System
The SafeETH whitepaper was written and released by the SafeETH core development team in Q3 2024, aiming to address the growing security vulnerabilities in smart contracts and user asset risks by proposing an enhanced security protocol and governance framework.
The theme of the SafeETH whitepaper is “SafeETH: Building the Next Generation of Secure and Sustainable Decentralized Ecosystems.” What makes SafeETH unique is the introduction of a “multi-layer security audit mechanism” and a “community-driven risk warning system”, combined with “zero-knowledge proof” technology to enhance transaction privacy and security; the significance of SafeETH lies in providing a safer and more reliable operating environment for decentralized applications (DApps), significantly reducing potential risks for users in DeFi and Web3 interactions.
The original intention of SafeETH is to address the widespread security challenges and trust crisis in the current blockchain ecosystem, protecting user assets and data security. The core viewpoint stated in the SafeETH whitepaper is: by combining advanced cryptographic technology, decentralized governance, and continuous security audits, SafeETH can greatly enhance the security and resilience of the entire ecosystem while ensuring decentralization.
SafeETH whitepaper summary
Hello, friend! I'm glad to chat with you about blockchain projects. You mentioned a project called “SafeETH”, but in the world of cryptocurrency, there are quite a few projects with similar names, so we need to make sure we’re talking about the same one.
Based on the information I can currently find, there are two projects that might be referred to:
SafeETH (SAFEETH Token)
This project appears to be a relatively early decentralized finance (DeFi) token, with the full name SafeETH and the token ticker also SAFEETH. It was launched on March 23, 2021, with an initial total supply that was extremely large, reaching 1 quadrillion (1,000,000,000,000,000) tokens.
Its core mechanism is quite interesting and can be thought of as an “automatic dividend and appreciation” system. Every time someone trades SafeETH tokens, the system automatically charges a 4% transaction fee. This 4% fee is split in two:
- 2% is distributed proportionally to all existing SafeETH token holders. This means that as long as you hold the token, you automatically receive a portion of the transaction fees as a reward, similar to a bank paying you interest regularly, except this interest comes from transaction fees.
- The other 2% is automatically injected into the liquidity pool. The liquidity pool can be understood as a “fund pool” in the exchange that facilitates the buying and selling of tokens—the larger the pool, the smoother the trading, and the smaller the price fluctuations may be. This mechanism helps provide a “price floor” for the token, increasing its stability.
In addition, 60% of the tokens were burned at launch, meaning 60% of the tokens were sent to a “dead address” and can never circulate again. This is a “deflationary” mechanism, which in theory reduces the number of tokens on the market and may increase the value of the remaining tokens.
The original intention of this project was to allow token holders to automatically earn returns without the need for complex “staking” or “farming” operations, and to enhance the long-term value and stability of the token through automatic liquidity addition and token burning.
However, it is important to note that there is currently very limited official information about this SafeETH (SAFEETH) project. According to some cryptocurrency data platforms, the project is currently in an “untracked” state, which means it may be inactive, or there is insufficient data, and some platforms even report its circulating supply as 0. This usually indicates that the project may have ceased operations or is extremely inactive.
Safe (SAFE Token) / Safe{Wallet}
Another project that often appears in searches and is more active and well-known is “Safe”, formerly known as “Gnosis Safe”. This project is different from the SafeETH (SAFEETH) mentioned above. The Safe project mainly provides a “smart contract wallet”, especially a multisig wallet (Multisig Wallet).
You can think of a multisig wallet as a company’s safe—it can’t be opened by just one person, but requires multiple directors (for example, 2 out of 3 directors) to sign before the funds inside can be used. In the blockchain world, this means a transaction requires approval from multiple preset “signers” before it can be executed, greatly improving asset security and preventing single points of failure (such as all assets being lost if one private key is leaked).
The Safe project is very popular on Ethereum and other Ethereum-compatible blockchain networks, and is used by many organizations, teams, and advanced users to securely manage their crypto assets. Its token is SAFE, mainly used for governance, allowing token holders to participate in the project’s future decisions and development.
Since you specifically mentioned “SafeETH” and “SAFEETH”, and the detailed information I can find about this specific name is very limited, especially lacking a whitepaper and active official information, I am unable to introduce it according to the detailed structure you provided. The above content is organized based on the scattered information currently available.
Important Note: Blockchain projects, especially those with opaque information or low activity, carry high risks. Before considering any investment, be sure to conduct thorough independent research (DYOR - Do Your Own Research) and consult a professional financial advisor. The above information is for educational purposes only and does not constitute any investment advice.