Safe Haven (SHA) Token Utility: Usage and Benefits

Safe Haven is decentralized B2B2C platform for digital asset management and financial technology solutions. Despite a treasure trove of existing material, those new to the community may find it challenging to sift through various articles in order to determine the use and benefits of holding SHA tokens. With that in mind, the following write-up will highlight the main products and services offered by Safe Haven to date, including token utility.

Inheriti
Safe Haven’s flagshipsolution for digital inheritance, Inheriti allows family members, businesses, and/or stakeholders to access and distribute assets upon a user’s passing or at the end of a time-locked contract.

Token Utility:
Each user who sets up a digital inheritance plan must hold a designated amount of SHA tokens to use the service. SHA is also used as a gas for all transactions. Inheriti transactions will contribute to a reward pool for nodes and token burn (see below).

ThorPay
ThorPay is a multi-payment platform built for complex payment processing conducted by third-parties such as businesses, developers, bounty organizations, and payment processors.

Token Utility:
Users must hold a minimum amount of SHA tokens in their wallets in order to use the platform. ThorPay transactions will contribute to a reward pool for nodes and token burn (see below).

ThorBlock
ThorBlock helps users and organizations safely manage remittance and accounting of contributors’ pooled funds. ThorBlock will be used by a variety of charities and fundraisers, as well as exchanges that want to partake in initial exchange offerings. The goal is to be able to raise funds in all cryptocurrencies.

Token Utility:
Pool admins will be required to lock SHA tokens while each charity and/or fundraising pool is in process. ThorBlock transactions will contribute to a reward pool for nodes and token burn (see below).

Trust Alliance Network (TAN)
The Trust Alliance Network (TAN) is an online hub for blockchain-related legal affairs. TAN is a place where blockchain professionals (lawyers, accountants, notaries, moderators, influencers, tax professionals, developers, etc.) have the opportunity to advertise their services to the public.

Token Utility:
In order to offer blockchain-related services, professionals on the TAN are required to deposit SHA tokens in a time-locked smart contract.

Safe Nodes
Safe Haven community members can contribute to the stability of the ecosystem by staking SHA in their VeChainThor mobile wallets.

Safe Nodes have four tiers:

  • Connect Node: 1,000,000 SHA
  • Harbor Node: 2,500,000 SHA
  • Consensus Node: 10,000,000 SHA
  • Legacy Node: 30,000,000 SHA

Token Utility:
Once nodes are bound on the blockchain via the SafeNode app, SHA holders receive rewards and discounts on services based on the type of node(s) being held. Please see the following chart for all the specifics:

Reward Pool and Token Burn
Any gas that is utilized for each transaction will be traded for the equivalent amount of SHA tokens on the open market every week. Eighty percent of that will go into a community pool for nodes (to be distributed monthly). The other twenty percent will be burned. Thus, the circulating supply of SHA tokens will dwindle over time through utility. The more utility, the more rewards for node holders and the more token burn. If the supply drastically decreases through adoption, SHA has the ability to trade in decimals.

As you can see, the SHA token is an integral part of the platform and will be utilized in most Safe Haven products and services.

If you’d like to learn more or stay up-to-date on the latest Safe Haven (SHA) developments, please visit our Telegram Channel and follow us on Twitter!

Safe Haven provides advanced FinTech solutions powered by blockchain, and our own patent-pending protocols along with our ‘SafeKey’ HSM cold-storage devices.