SafeGram Send Money Services (SSMS), ATM Services & More | A.M.A Recap
On April 19th, Ivan Tomic, C.E.O of SafeGram participated in an A.M.A (ask me anything) hosted by Decentralized Club. The A.M.A segment was divided into three parts, an introductory session, a Twitter session and live questions. This article comprises all the important highlights.
Keeping the Blockchain Holdings and Fiat Remittance 1:1
The session started with a key question that focuses on the rudimentary mechanism behind the SafeGram ecosystem.
Q. Your solution to global remittance’s bottleneck looks promising. We would love to learn what powers SafeGram and various needs you see the platform resolving. How are you making sure that you keep the blockchain holdings and fiat remittance 1:1.
“SafeGram Send Money Services is a portion of that ecosystem that is an umbrella service which includes Crypto-to-Fiat bridge and ATMs. The product is provided on both DApp on website as well as through SafeGram ATM.”
Ivan also focused on the fundamental technology behind the SafeGram ecosystem that powers the SafeGram Send Money Services (SSMS) and Crypto-to-fiat-bridge such as the SafeGram ATM service.
Ivan then explained the whole process:
“Call it a decentralized swift system, where the funds you’re sending through our system are landing as fiat-to-fiat in your bank account in a completely decentralized manner without ever touching your crypto funds throughout the process.
The entire process is what we like to call it a hands-off approach where institutional and commercial buyers are buying the value of the funds you’re sending and reflecting that in the regular monetary system at the designated account you have specified.
We are providing an alternative to the typical gatekeepers such as Binance, Coinbase, Kraken etc.
We end up giving away up to 80% of our rewards back as a combination between our community and partner projects.”
SafeGram ATM Services & The Metaverse
The significance of the metaverse is well comprehended in the community. And the need to synchronise traditional finance services into the metaverse is urgent. SafeGram is addressing this by taking an industry-first approach and providing ATM services in the metaverse.
The next question was versed around the symbiotic relationship between SafeGram ATM services and the metaverse.
Q. Can you tell us more about SafeGram ATM services and how you are using it to power the metaverse as well
Ivan described the process very lucidly, tying the concept of SafeGram ATMs being live in both digital and physical forms.
“SafeGram ATMs, which are a part of SafeGram Send Money Services are running on the same infrastructure utilizing Crypto-to-Fiat Bridge to power the ATMs. What is important to note is that they are fully decentralized meaning that we can send funds instantly to ATMs and get fiat or deposit fiat and get crypto. With the ability to be wireless, cellular, and satellite thus we can go anywhere with these ATM machines meaning the reach of the audience and access to crypto is exponentially expanded for all users across the globe, including metaverse communities.
SafeGram’s ATMs will be incorporated in a fusion of physical and digital forms in Metaverse(s) and users will be able to utilize metaverse tokens, major tokens including bitcoin to transfer equal assets in and out of the metaverse be it for form of payments etc. without ever leaving the metaverse.
Think of payments in the game, paying for new accessories, tools, avatars, new lands and transport vehicle all using the safegram infrastructure as a means to pay with native tokens and other tokens as needed.”
Unique Propositions of SafeDEX & Reward Mechanisms for Users
Since the inception of automated market-makers like Uniswap, the market has been flooded with similar decentralised exchanges. As revolutionary as the concept of the DEXs sounds like, the current DEX infrastructure of the crypto market is replicative and does not bring ‘extra value’ to the community.
The next question was concerning the SafeDEX and its unique selling points.
Q. There are so many decentralised exchanges out there. What is special about your Dex? And how are you incentivizing people to use it?
“SafeDEX follows the principle, if it ain’t broken why fix it? SafeDEX pays homage to some of the trailblazer DEXes and projects utilizing swaps, yields etc. hence why we call it Curve Wars Redefined 2.0
The most important piece to SafeDEX utilization is the massive 50% reward sharing with the community, more specifically stakers, and liquidity providers from SafeDEX swap fees and 50% of rewards generated from SafeGram Send Money Services (SSMS) fees.
In addition to that, we have what is called Self-Funding Pools unique to the industry with guaranteed 80–100% APY! These SF Pools are specifically setup for both our community and partner projects which wish to list farms on our exchange. You can often think how hard it is for the projects to list their farms on a DEX because they lack the funds to be able to sustain the rewards and that is an issue. We have resolved that by providing self-funding pools which generate passive rewards from SafeGram Crypto-to-Fiat Bridge for those listed projects, thus eliminating the need for direct injection of capital from the project. The more people use the bridge the higher the staking pool APYs will be, simple!
Last but not least our ILP pools or Impermanent Loss Proof Pools protect you from up to 10% of impermanent loss from the baseline guaranteed!”
Unique Propositions of SafeStarter
With SafeStarter as a launchpad, the launch partners leverage the ‘boost effect’ provided by our state of the art launchpad. The next question was regarding SafeStarter and its unique value propositions. Ivan delivered justice with his answer, read below:
Q. SafeGram looks unique in everything it does including it’s launchpad platform. Tell us what makes SafeStarter different than most in the industry?
“SafeStarter is the launchpad for SafeGram that not only provides IDOs for exclusive projects but also partner launchpad projects.
The significance of that is that for the partner launchpad projects we provide a “boost effect” for the raise i.e. If a partner launchpad is raising 100k SafeStarter’s community will provide an additional 25k boost by holding both GRAM tokens and the partner launchpad tokens in a 50/50 ratio. This allows the GRAM token to get an extra mile out of it. It also provides a partner launchpad project an incentive as more users need to hold their tokens thus making partner launchpad project token more scarce, ergo more valuable.
You will need to hold GRAM tokens to stake and participate, as well as GRAM tokens to buy and participate at a premium for those with heavier pockets but less time on their hands, and GRAM tokens to engage and participate at a discount for those with lighter pockets but high engagement drive.
To reiterate:
Stake & Participate (S2P) — simply stake in VIP listed pools with qualifying amount of tokens, get whitelisted for participating in raise for the allocations.
Buy & Participate (B2P) — For those with heavy pockets but not enough time you will have the ability to participate by outright buying allocations at a 25% premium.
Engage & Participate (E2P) — For those with small pockets but high engagement drive you will have ability to participate by completing tasks, spreading the word, and entering into a whitelisted pool with 25% subsidy on allocations
It all balances out for a win-win formula!”
The A.M.A was concluded with a brief explanation of the ecosystem, if you want to read the full conversation, you can read it here: https://decentralizedclub.medium.com/safegramx-decentralized-club-ama-recap-from-the-19th-of-april-374316468a1c
About SafeGram
A safe and secure ecosystem, SafeGram boasts next-gen crypto-to-fiat remittance service. Users can send their valued money under a secure, and swift remittance platform, saving them time while empowering their position across the digital ecosystem.
