Once again, we have witnessed the urgent need for our solutions in the crypto world, especially in light of the recent issues with Multichain, which we will discuss further down this article, it became clear that our standout solution, SafeSwap, an atomic swapping platform, continues to play a crucial role in providing a secure and efficient alternative to wrapped tokens and management of native assets across multiple chains.
At Safe Haven, our commitment lies in the continuous development of innovative decentralized technologies that tackle the challenges faced by Web3 users and beyond. As the space evolves and matures, the importance of solutions like digital inheritance, encrypted data backups, secure cold storage of data shares, and atomic swaps become increasingly evident.
These innovative solutions are at the forefront of meeting the evolving needs of the crypto ecosystem, providing users with enhanced security and control over their digital assets.
Behind the scenes, we are always working hard on various projects and initiatives that drive our mission forward towards our goal of providing all of these solutions and technologies. However, it’s important to note that we cannot always include every detail or share updates on ongoing work in each Flash Friday update.
So, to kick-off this week’s update, we would like to provide you with a glimpse into some of the exciting stuff and initiatives we have been diligently working on, but without disclosing more specific details this week:
- Comet 2.0 browser extension development
- Comet 2.0 beta testing
- Comet 2.0 audit
- SafeKey Mobile app development
- Inheriti® fiat payments and Venly integration
- Inheriti® 2.0 rebranding and development
- Onboarding projects to SafeSwap
- Business meetings
- Strategic partnership discussions
- And much much more!
We believe in providing comprehensive and meaningful updates when the time is right, ensuring that we deliver complete and accurate information to our community.
If you’re interested in what else is coming, you can still read up on our roadmap we posted some months ago: https://safehaven.io/2023-roadmap/
Now, without further ado, let’s explore the latest developments and updates from past week that we can share! 👇
Twitter Spaces Rescheduled to Sunday June 4th
We sincerely apologize for the change in schedule regarding our planned Twitter Spaces event, originally scheduled for past Sunday.
But today, we are pleased to announce that it has been rescheduled already to this upcoming Sunday, June 4th.
Join us for an enlightening discussion hosted by @2Cold_XRPL, where we will be focusing on the importance of decentralized backup solutions.
W all thats going on bout Ledger. Come learn about a possible alternative for a cold wallet
🧊🎁 Live trivia #Giveaways (encouraging education on the product/services)
— 2Cold 🥶🧊 (@2Cold_XRPL) May 30, 2023
During these Twitter Spaces, the Ledger situation will be discussed and Alex and Sam will introduce our solution for securely backing up and transferring access to your passwords and mnemonics to the XRPL community.
Yesterday, Ledger Recover was announced, aiming to solve the crucial problem of seed phrase recovery in the cryptocurrency space.
While the issue is real, we believe their approach is too centralized & is in fact dangerous.
Oh, and we solved the problem years ago already. 👇
— Safe Haven (SHA) (@SafeHavenio) May 17, 2023
Mark your calendars and set reminders for this Sunday’s Twitter Spaces session. Don’t miss out on the opportunity to revolutionize the way you backup your private keys and seed phrases.
Staking Program for June Opened
Our monthly staking program continues to present an exceptional opportunity for the community to earn utility rewards while actively supporting the growth of the Safe Haven ecosystem.
With the staking program for May being closed, we are excited to announce that the staking period for June is now officially opened!
Staking is available to both node & non-node holders.
— Safe Haven (SHA) (@SafeHavenio) June 1, 2023
During a five-day period at the beginning of each month, SHA holders have the chance to stake their tokens for the upcoming month. By participating in the staking program, you contribute to the stability and security of the network while unlocking attractive rewards.
Whether you are a node holder or a non-node holder, this program is accessible to all SHA holders. To assist you in the staking process and the setup of a SHA node, we have prepared informative articles that will guide you through the necessary steps.
Emphasizing The Importance of Holding Native Assets
In light of recent events surrounding Multichain’s vulnerabilities and the exposure of wrapped tokens, it is essential to emphasize the utmost importance of holding native assets. The thread by Ignas shed light on Fantom’s significant reliance on Multichain’s wrapped tokens, raising concerns about potential risks and uncertainties.
3/ @apes_prologue reported that Fantom is the most exposed to Multichain's wrapped tokens.
• 35% of its TVL locked depends on these wrappers
• Multichain issues 40% of non-$FTM assets ($650M)
• Handles 81% of Fantom's total stablecoin MC https://t.co/4GS5zdxSkI
— Ignas | DeFi Research (@DefiIgnas) May 25, 2023
As Ignas highlighted, Fantom’s TVL (Total Value Locked) is heavily dependent on these wrappers, with 35% of its TVL locked in them. While the recent withdrawal of funds did not cause massive panic or a significant outflow of capital, it serves as a reminder of the potential vulnerabilities associated with wrapped tokens.
By utilizing SafeSwap, users can transact with confidence, knowing that they retain full control over their assets without relying on external parties. Our atomic swapping protocol utilizes native assets only, providing a safer and more reliable alternative to wrapped tokens.
Furthermore, the absence of a custodian in atomic swaps reduces the risk of losing the underlying assets and offers a faster and more cost-effective transaction experience. SafeSwap empowers users to make cross-chain transactions securely, enhancing the overall security and resilience of their digital assets.
As Ignas (and Vitalik) emphasized the need to minimize reliance on bridges, we echo this sentiment and emphasize the value of holding native assets.
By leveraging SafeSwap, users can avoid the vulnerabilities associated with wrapped tokens and embrace a trustless and decentralized approach to asset exchange.
"If you are worried about your assets, better hold tokens on the chain where they originate".
This is exactly what it's all about!
It's also one of the main reasons why we built https://t.co/hQ0kl6iOB8!
We will add a detailed thread on how it works in the tweet below🧵👇 https://t.co/gA8YqWILgz
— Safe Haven (SHA) (@SafeHavenio) June 1, 2023
How To Use SafeSwap for Your Favorite Project?
Whether you’re a user or a builder, understanding how to leverage SafeSwap for your favorite project is essential.
Here’s what you need to know:
From a user perspective, it’s important to note that projects cannot be listed on SafeSwap without the involvement of the project’s team. This is because the team needs to deploy their token contract to different chains.
So, if you want your favorite project to benefit from SafeSwap and avoid using wrapped tokens, make sure to inform the project team about SafeSwap and encourage them to get in touch with us.
We’re also setting up the SafeSwap Commission Program for this btw, so continue reading if you’re interested in earning rewards by referring projects to SafeSwap.
If you’re a builder and you want your project to go cross-chain, reach out to us to explore the process of getting listed on SafeSwap. With SafeSwap, we provide a trustless and decentralized platform for atomic swaps of native assets, eliminating the reliance on wrapped tokens.
By collaborating with project teams, we can enhance the overall security and accessibility of the crypto ecosystem.
Contact us today to discover how you can utilize SafeSwap for your project.
Also make sure to read 10 Benefits of Using SafeSwap for Your Project
SafeSwap Commission Program
As we continue to fine-tune the details of our Safe Haven Ambassador Program, we have begun the gradual implementation of the SafeSwap Commission Program.
Through the SafeSwap Commission Program, we are offering individuals the opportunity to actively promote SafeSwap and earn attractive rewards. If you’re passionate about SafeSwap and eager to contribute, this is your chance to make a difference while being rewarded for your efforts.
To kickstart the commission program, we are introducing a special reward of $300 for everyone who successfully brings a new project listing to SafeSwap. This initial phase of the SafeSwap Commission Program is just the beginning. We have exciting plans to expand the program as part of the broader Safe Haven Ambassador Program. The ambassador program will offer additional opportunities for individuals to get involved and be rewarded for their dedication and extra efforts.
We value all contributions of our community members and recognize the impact they can have in promoting our products and ecosystem. The Safe Haven Ambassador Program will create a platform for individuals to actively participate, engage with the community, and help drive the adoption of our innovative solutions.
We are committed to building a strong and engaged community of #SHAman where everyone has the opportunity to make a meaningful impact. By joining the Safe Haven Ambassador Program, you’ll become an integral part of our journey towards widespread adoption and success.
But more on that later!
As part of our ongoing efforts to foster community engagement and incentivize active participation, we are gradually reactivating the CGM.
The CGM has always been a vital component of our community, allowing members to contribute their ideas, insights, and feedback to help shape the future of Safe Haven. We recognize the value of our community’s expertise and passion, and we want to provide a platform where every member can actively participate and have a meaningful impact.
By reactivating the CGM, we aim to create a space where community members can collaborate, share their perspectives, and contribute to the growth and development of our ecosystem. As part of the broader Safe Haven Ambassador Program, the CGM will serve as a core pillar, offering additional opportunities for community members to engage and contribute.
We believe in the power of a strong and vibrant community, and the revival of the CGM is again one step closer towards fostering a sense of ownership and empowerment among our community members. We want to ensure that your voices are heard and that you have the opportunity to actively shape the future of Safe Haven with us.
Speaking of community, we want to give a big thanks to our incredible supporters who have shown unwavering dedication and passion in promoting Safe Haven this week!
Your commitment to decentralized asset management and inheritance solutions is truly commendable.
Read about @SafeHavenio's vast ecosystem including:
— Copiosa (@CopiosaOfficial) May 26, 2023
— Zeal4C (@CZeal4) May 26, 2023
⚛️ Atomic Swaps go a big way to help solve these very situations, blockchain projects control their own liquidity pools, no wrapped tokens, wallet to wallet token exchange!
Leaders of projects please take a moment to review #SafeSwap by @SafeHavenio👀🛡️🔗https://t.co/9AdTP7q1dC
— 💣SamSonite (Official) 🅢🅗🅐 (@SamSoniteCrypto) May 31, 2023
'@SafeHavenio has built platforms like SafeKey and Inheriti to ensure that users’ crypto assets are protected in a safe decentralized environment. It is the only patented and fully decentralized digital inheritance and data backup platform in the world'👇 $SHA $VET $BTC #Bitcoin https://t.co/Lq536zzopt
— Grumpy Turtle 🐢 (@GrumpiestTurtle) May 30, 2023
$SHA, if you missed it, worth noting @SafeHavenio has a huge strategic partnership w/StartupGrind, world’s largest startup community. https://t.co/U5gg5KXJfT
👀Massive membership & reach!$BTC #Bitcoin $ETH #Ethereum @Ledger #ledgerrecover @Trezor $VEThttps://t.co/WPZS8ibopl pic.twitter.com/QxIu14vWLd
— JustInTimeMessenger (@JustInTimeMsngr) May 31, 2023
In The News
Insights by BarriC (Video)
Once again YouTuber BarriC has created a video discussing vechain and Safe Haven.
We appreciate BarriC’s efforts in educating and informing the crypto community about the Safe Haven ecosystem and we encourage you to watch the video for valuable insights and perspectives!
New #VeChain Video is LIVE!!
Check out why I’ve been super bullish on @vechainofficial since 2019!!
Especially when it comes to innovation, utility and ambition!
— BarriC (@B_arri_C) May 30, 2023
Panos Mekras Interviewed by Metadudes About The Safe Haven Ecosystem
In a recent interview of one of our advisors, Panos Mekras, conducted by Metadudes, Safe Haven was prominently featured for its exceptional offerings in crypto security.
The article (in Greek) highlights our commitment to developing secure solutions for managing, storing, and transferring digital assets, including cryptocurrencies, NFTs, passwords, and more.
The interview emphasizes our diverse team of professionals, our innovative solutions such as digital inheritance, distributed vHSM, wallets, ID management and more.
Thank you Panos for educating the Greek people about the Safe Haven ecosystem!
Read the full article here: https://metadudesgr.medium.com/safe-haven-μέρος-1ο-569ecf9e3163
— Safe Haven (SHA) (@SafeHavenio) June 2, 2023
In this week’s Flash Friday update, the urgent need for our solutions in the crypto world once again became clear, especially considering the recent issues with Multichain.
SafeSwap, our atomic swapping platform, continues to play a vital role in providing a secure and efficient alternative to wrapped tokens and facilitating the management of native assets across multiple chains.
Moreover, we introduced the SafeSwap Commission Program, enabling individuals to actively promote SafeSwap and earn rewards. We’re also gradually reactivating the CGM to foster community engagement and collaboration. By reestablishing the CGM, we aim to create a space where community members can share their perspectives, contribute ideas, and actively shape the future of Safe Haven.
As the crypto space evolves, we are committed to staying at the forefront of innovation, delivering comprehensive solutions that meet the evolving needs of users worldwide. Solutions like digital inheritance, encrypted data backups, secure cold storage of data shares, and atomic swaps.
Enjoy the weekend and your time with family #SHAman! 💜 🧙
Back to news
Join the Community in Spreading Awareness
As always, all of us at Safe Haven want to thank our community for your continued support.
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