Vee Finance, a decentralized finance platform, has officially confirmed its hack on Avalanche. On September 20, the hacker managed to transfer funds worth $35 million. In terms of assets, it was 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million). According to the report, the stablecoin was left untouched. As for the hacker, the report confirms that they have not yet transferred or processed the funds. The team is working to provide more details of the incident. Further,…
International organizations like the UN and many others have been trying to come up with ways that can help in bettering humanity and lives globally. One of their most significant initiatives was the UN-SDG, where they came up with sustainable development goals to achieve global peace and prosperity by 2030.
However, the quality of life in most underdeveloped countries is low, and many are facing challenges. Fortunately, a new project, SafeTheHumanity (STH), is on a mission that similarly aligns with UN-SDGs but focuses on creating a community to help global charitable organizations.
What is SafeTheHumanity?
SafeTheHumanity is a Binance smart chain-based Defi project introduced to show a genuine interest in humanity. This project aims to provide an advanced community-controlled protocol that focuses on rewarding users through many features owned by the token functions.
Everyone has the possibility to donate for noble causes once integrating the SafetheHumanity community. Its team boasts of total transparency and commitment to the growth and development of communities across the globe.
This entire network fosters total decentralization by allowing the average users to run and control the platform, including recording transactions on the blockchain. So how does the STH project guarantee the future of humanity?
How Does it Work?
This network leverages the power of a smart contract with the ticker symbol STH, which is the primary way of delivering services. Being based on the Binance smart chain, the smart contract takes the BEP-20 format, thus a genuinely decentralized finance platform.
The platform will be cutting off four percent of every transaction fee and use it in providing services. For instance, 1% of the fee will be used in refilling the liquidity pools to ensure top liquidity.
Another 1% of the fee will be distributed to all the token holders on the platform. Therefore, even without staking, token holders will have an equal chance of making an income from STH benefits.
Even more, STH tokens will have a 1% fee charged, which will help in humanitarian projects across the globe. Generally, the fee will be given to charitable organizations and the community selected by SafeTheHumanity holders. The final 1% of the tokens is going to be apportioned to the foundation.
There are token burn policies instituted to help ensure the token remains continuously reliable in the long term.
The STH Tokenomics
The token economics of the STH project has been created to ensure it focuses more on the community and facilitates ways of maximizing their incomes. For instance, the total predetermined number of STH tokens is 1 quadrillion.
The token allocation of STH is as follows;
- 35.75% will be used in fundraising and liquidity provision. For instance, 57.5 trillion go to private sale, 260 trillion in a public offering, and 40 trillion added to liquidity.
- 40% of the tokens (400 trillion) will be burned. The burning will be designed to ensure the network and the tokens remain utterly reliable in the long run.
- Around 4.25% of the tokens (42.5 trillion) will be used as rewards in the network.
- When it comes to marketing, 10% of STH (100 trillion) tokens will be allocated to the promotion works to attract an excellent community.
- 10% of the tokens will be allocated to the platform’s foundation.
As mentioned earlier, 260 trillion tokens go to the presale round, which is opening up very soon. The STH website shows a countdown to the presale start date and has a direct link to where a user can purchase the tokens.
The target hard cap in this upcoming presale is $1 million, which is about 2600 BNB. The price of one STH token is 0.000000003846. The minimum purchase value of the token is 0.1 BNB, and the maximum is 40 BNB.
Afterward, the platform will list the token in PancakeSwap, where the price will be 10% higher than the presale prices.
More Ways to Maximize Incomes
SafeTheHumanity project will provide a vast array of features that will help create the income for sustaining the network in accordance with SafetheHumanity’s roadmap. To sustain its community growth and development goals, the platform is instituting multiple ways for users to earn income. Among the services include;
- A Staking pool where users will stake tokens and maximize rewards
- Humanity decentralized exchange for trading and swapping of decentralized BSC based assets
- Lottery platform where people will earn excellent gifts for participating in bets and lotteries
- Moreover, STH will include a launchpad to help upcoming crypto projects get community support. Upcoming BSC-based Defi projects will specifically enjoy using this platform.
- The NFT marketplace is also another one of the most critical tools in the platform. Artists and art enthusiasts will be the biggest beneficiaries of the platform.
Benefits of This Platform
BSC Base for Efficiency
SafeTheHumanity project is based on the Binance Smart Chain (BSC). The Binance smart chain provides services at very favorable gas charges and a reliable speed.
Primarily, the services provided by the BSC, including lower gas charges, maximum scalability, and fast transactions, will increase the efficiency of the STH.
Audit for Security
The STH network is planning to ensure its users have the best security in service provision. In its recently released roadmap, the platform has planned to do double audits on its systems.
For instance, the preliminary audit took place in the second quarter of 2021, where the platform will audit its contracts. Later an advanced audit of the network will be done to assure users utter security.
Mobility and Efficiency
The platform will, in 2022, introduce a mobile application offering a variety of its services. This application has been designed to ensure the convenience of providing services and make it easy for investors to access their accounts anywhere.
The platform is wholly controlled by the community, who are the token holders. Based on their holding, users will be able to vote on which charities to help. STH will collect a small fee in every vote and burn the fee to ensure the token remains utterly deflationary.
To the Future
The STH platform plans to institute many policies that will help it remain self-sustaining in the long run. It’s currently building a great community and is soon scheduled to hold its fundraising. STH will be listed on Pancakeswap and, some tokens will be locked and released slowly through token vesting.
To increase the number of investors, STH hopes to list on the Coinmarketcap analytics tool. This will enable investors to do their analysis before investing in the project. This platform is in line with what most folks around the world want, equality in growth and development.
Investors are invited to participate in the presale rounds and enjoy the benefits afterward. More information about the developments made in the platform is on their social media pages like Twitter, Telegram, Discord, Medium, etc.
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