Savix - DeFi for traditional savings accounts - Redefining passive income

maverickcoins17 (25)in #savixcryptodefi • 4 years ago

Background Information

Cryptocurrency is an electronic money created with technology controlling its creation and protecting transactions, while hiding the identities of its users.

Crypto- is short for “cryptography”, and cryptography is computer technology used for security, hiding information, identities and more. Currency simply means “money currently in use”.

Cryptocurrencies are a digital cash designed to be quicker, cheaper and more reliable than our regular government issued money. Instead of trusting a government to create your money and banks to store, send and receive it, users transact directly with each other and store their money themselves. Because people can send money directly without a middleman, transactions are usually very affordable and fast.

To prevent fraud and manipulation, every user of a cryptocurrency can simultaneously record and verify their own transactions and the transactions of everyone else. The digital transaction recordings are known as a “ledger” and this ledger is publicly available to anyone. With this public ledger, transactions become efficient, permanent, secure and transparent.

With public records, cryptocurrencies don’t require you trust a bank to hold your money. They don’t require you trust the person you are doing business with to actually pay you. Instead, you can actually see the money being sent, received, verified, and recorded by thousands of people. This system requires no trust. This unique positive quality is known as “trustless”.

Blockchain is technology for creating permanent, secure digital recordings that don’t rely on any single person or group. Blockchains can record any information, though the first example was created to record bitcoin transactions.

Imagine the blockchain as a book of records. Each page in that book, is a block, and can record anything. Blocks are created one after the other, chained to each other creating what we know as the blockchain.

Multiple blockchain records are maintained simultaneously by many of unrelated individuals and their computers, making it cloud storage on steroids. Updates are seen immediately and manipulation is extremely difficult/impossible. This positive quality known of many people keeping their own copies of the blockchain is known as “distributed”.

There are hundreds of blockchains created by many groups to records all sorts of information including art, medical records, computer information and much more.

But if a blockchain is not distributed among many individuals and instead run by one government, organization, group or person, than it is not at a blockchain at all. A centralized system like that is simply a database.

With that being said, with Savix a virtual currency is now available for the first time, which makes it possible to profit from staking rewards while keeping the token unlocked and liquid, freely available for use in any other DeFi product at the same time.

Let's watch the video below to familiarize with the concept.

SAVIX DEMYSTIFIED

SAVIX (SVX Coin) is a cryptocurrency Assets that will storm the world in the year 2021, lunched based on Ethereum Network DeFi that is growing in popularity day by day, with the aim to be used by entrepreneurs, small businesses and start-ups for utility purposes.

SAVIX platform is made up of highly intelligent, motivated and experienced professionals in all areas of financial activities. The average type of customer ranges from individual, entrepreneurs, business owners, start ups, banks and financial corporations willing to invest their funds in a time like this. SAVIX project is a global Platform, created with the objective of providing members of the ecosystem with the most secure, safest and reliable investment plan with the SVX token. Users can always make huge and massive profits with a low risk.

SAVIX Project (SVX Coin) decentralized system is a global marketplace for all cryptocurrency assets. it is building a robust and fully compliant platform that offers a broad range of peer-to-peer cryptocurrency-specialized solution. These include a high-frequency trading platform capable of real-time spot trading and margin trading and over the counter trading.

As depicted above and as indicated on the official website of SAVIX, the Savix project aims at making decentralized finance products available to non-tech-savvy users. The Savix token enables gas-free automatic staking rewards.

With Savix a virtual currency is now available for the first time, which gives the opportunity to profit from staking rewards while keeping token unlocked and liquid, freely available for use in any DeFi product at the same time.

Savix's main objective is to let users profit as much as possible from the new investment opportunities created by decentralized finance with as less barriers as possible. Therefore users combine multiple income streams while keeping full flexibility of token usage. The staking mechanism built into the Savix protocol works without any need for user actions. Users don’t have to lock their tokens and don’t have to claim their rewards since the staking process works completely automated.

The Advantages Of Savix

Savix is the best collateral for decentralized finance because it is:

Multi-Beneficiary

Since Protocol Embedded Staking (PES) allows complete availability of token usage in other DeFi products, rewards can be “doubled” using Savix. This way staking rewards are an extra Layer of passive income. The upcoming liquidity incentive program “Trinary” will offer Savix holders another distinctive additional income stream.

Convenient

Savix staking is embedded within standard ERC20 transfer functions and is fully automated and 100% passive with no need for user decisions or interactions to receive rewards therefore.

Flexible

Savix is compatible with any Ethereum based DeFi project. Savix coins can be used like all standard ERC20 tokens for pooling, lending, yield farming, mining and so on, all this while continuously yielding additional staking tokens to holders.

Fair

Savix protocol embedded staking evenly adjust all balances according to the embedded supply development curve. No preference whatsoever is given to any specific holder. All wallets are treated in the same way, independent of balances, transaction volume or other parameters.

Transparent

Savix sources are open. All program codes and contracts are made available through Github and can be inspected and tested by anybody. Due to single contract deployment any manipulation of the contract logic or maximum supply is impossible, no minting of additional coins. Staking rewards are fully transparent and predictable.

Stable

With Savix there aren’t any reward releasing events at the end of locking periods which could generate cyclical dumps. Except for market reasons selling Savix is never easier or more profitable at any specific point in time, creating a less volatility.

Independent

With Savix you stay independent because the tokens always stay liquid while earning rewards (no locking) and can be freely moved or invested into DeFi products

These features are made possible by the unique Protocol Embedded Staking (PES), which implies the possibility of investing in highly profitable DeFi products with a predictable backing by conservative staking at the same time.

About The Token Technology

Since using DeFi applications (like participating in Uniswap liquidity pools) is a main usage scenario for the Savix token, an implementation as ERC-20 token is required. Non-fungible tokens may play an important role within future concepts and the ERC-721 or ERC-1155 standards may come into use for future developments as well.

However, the Savix token itself will remain untouched by all future developments. These will be designed as separate contracts interacting with the Savix original contract.

The immutability of the Savix contract implementation is guaranteed and an important part of Savix`s trust building concept:

Absolute transparency and liability of contract code due to single contract deployment (no unforeseen changes whatsoever can be made to the staking parameters).

Absolute transparency and liability of staking rewards due to non-dilutive staking rewards defined by an immutable supply map (future interest rates can be exactly predicted)

Absolute accuracy and transparency of total circulation supply. The circulating token supply is always identical to the total supply of tokens, there are no tokens held back in any way. The only exception are unsold tokens during the presale (6 month locking time will be the first element of this Dapp demonstrating the power of ERC20 embedded staking:

Users receive ETH for providing liquidity on automated market making platforms (AMMs) like Uniswap. The more liquidity you provide, and for longer, the greater share of the ETH pool you receive.

Token Details

The introductory price of the SVX token at the market will be 50 SVX / ETH. A private sale will not be executed. Public presale will be spilt into three phases, each phase – and possible sub-phase – having different discounts and processors. The public sale will start at Uniswap first and then be extended to traditional exchanges for increasing the reach of the token.

Ticker: SVX

Platform: Ethereum.

Token type: ERC-20

Available: 70,000 SVX (70%)

Total supply: 100,000 SVX.

IEO price: 1 SVX = 0.0166 ETH.

Accepted currencies: ETH

Bonuses: 20% discount.

Unsold tokens will be transferred to the next stages of pre-sale preparation.

Presale exchange rate: 1 ETH = 60 SVX.

Adjustment February 4, 2021: Additional bonus of 10% (10SVX / ETH) taken from the ecosystem fund.

Token contract address: 0x8a6e8e9f7d61e97bde7e66336dbeea4fcbb388ae

Presale will end on February 8, 2021 or when the maximum amount of ETH is increased.

Minimum contribution: 0.1 ETH

Maximum contribution: 15 ETH.

Token Distribution and Budget Distribution

Budget Allocation

36% Uniswap Liquidity

7% Ecosystem Fund

30% Further Development

17% Marketing

10% Reserve

Uniswap Liquidity Pool

Shortly after the presale, we will host Savix on Uniswap for public trading.

Starting price: 1 ETH = 50 SVX.

Estimated liquidity (presale target achieved): ~ $ 800,000–1,000,000 (depends on Ethereum volatility)

Estimated market capitalization: ~ $ 1,800,000 - $ 1,900,000.

The Uniswap pool will be locked for 6 months - long enough to gain the trust of the community. Locking the pool longer than necessary poses a certain liquidity risk should the Savix contract need to be renewed or rescheduled in the future.

The Trinary Details

Uniswap Rewards

There is a 0.3% fee for swapping tokens on Uniswap. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. It is functioning as a payout to all liquidity providers proportional to their share of the pool.

Staking rewards

In addition, you will earn Savix staking rewards from the embedded staking protocol while your tokens get used as liquidity.

Trinary rewards

Whenever liquidity is deposited into a uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool. With Savix “Trinary” it is possible to deposit Savix liquidity tokens for up to 6 month to receive yet another reward layer: ETH from our Ecosystem Fund. We expect a return of 7% to 15% of the initial investment directly paid in ETH over the first 6 month.

Road Map