Nicknamed the Revolut of Africa, DafriBank Digital addresses the banking needs of Africa’s growing digital entrepreneurial class — a niche that has been largely ignored by the traditional banks.”
To assist our flagship companies; DafriBank Digital, DafriXchange, SafeBank Swap, SafeWallet and DafriPay platforms to achieve their ambition to make fiat to crypto services seamless for African community and further aid the adoption of cryptocurrency on the Continent.
SafeBank is a yield and liquidity generation protocol by DafriBank Digital.
SafeBank employs 3 simple functions. Static Rewards + LP acquisition + Burn In each trade, the transaction is taxed a 10% fee, which is split 2 ways.
Apart from this default feature , there are few interesting projects in the SafeBank ecosystem each with groundbreaking innovation.
A DApp browse wallet with a P2P marketplace (development starts at $20m hard cap)
A borderless banking that will make fiat to crypto deposit and withdrawal cost efficient.(Development started in June 2020 - 89% completion)
A Decentralized Exchange (development starts at $100m hard cap)
A P2P marketplace to seamlessly exchange crypto/fiat with other users (DafriPay already functions on a small scale and has a small audience)
Our Centralized Exchange just like Binance. (Already developed and soft launch done with some 15 000 registrants)
Why Static? Static rewards solve a host of problems. Firstly, the reward amount is conditional upon the volume of the tokens being traded. This mechanism aims to alleviate some of the downward sell pressure put on the token caused by earlier adopters selling their tokens after farming crazy high APY’s. Secondly, the reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentage carried out and dependent upon the total tokens held by the owner.
Sometimes burns matter; sometimes they don’t. A continuous burn on any one protocol can be nice in the early days, however, this means the burn cannot be finite or controlled in any way. Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed. The conditions of the manual burn and the amounts can be advertised and tracked. SafeBank digital aims to implement a burn strategy that is beneficial and rewarding for those engaged for the long term. Furthermore, the total number of SafeBANK burned is featured on our readout located on the website which allows for further transparency in identifying the current circulating supply at any given point of time.
Automatic LP is the secret sauce of SafeBANK. Here we have a function that acts as a two-fold beneficial implementation for holders. First, the contract sucks up tokens from sellers and buyers alike, and adds them to the LP creating a solid price floor. Second, the penalty acts as an arbitrage resistant mechanism that secures the volume of SafeBANK as a reward for the holders. In theory, the added LP creates a stability from the supplied LP by adding the tax to the overall liquidity of the token, thus increasing the token's overall LP and supporting the price floor of the token. This is different from the burn function of other reflection tokens which is only beneficial in the short term from the granted reduction of supply.
As the SafeBANK Token LP increases, the price stability mirrors this function with the benefit of a solid price floor and cushion for holders. The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much as if there was no automatic LP function. All of this is an effort to alleviate some of the troubles we have seen with the current DeFi reflection tokens. We are confident that this model and protocol will prevail over the outdated reflection tokens for these reasons
DafriBank Digital is a Next-Gen digital bank set to serve a network of entrepreneurs, merchants and general public at large in over 180 countries. The fintech outfit is a subsidiary of DafriGroup PLC, a public company founded by billionaire entrepreneur, Xolane Ndhlovu.
Max Supply: 1 Quadrillion SafeBANK Tokens
45% Reserved for burning within a 5-year period450 Trillion Tokens
15% Reserved Pancake Liquidity Pool150 Trillion Tokens
(10/15% deployed already for Pre Sale)100 Trillion Tokens
10% Reserved for the development team100 Trillion Tokens
12% Reserved for the DBA holders120 Trillion Tokens *Locked for 10 months and release will be done proportionally at 3% per month for 33 months) *3.6 Trillion Tokens per month
10% Reserved for marketing and other logistics related to promoting SafeBank worldwide100 Trillion Tokens
5% Reserved for charity to further support DafriBank mission to support underprivileged around the world50 Trillion Tokens
3% Locked for not less than 5 years30 Trillion Tokens