You Asked, We Answered — Safe Haven’s First AMA of 2019
The questions submitted on our Reddit are ordered by subject, duplicates have been removed.
- How is it you plan to help develop Cyprus’ new economic direction with VeChain/CREAM/Safe Haven’s services? Can you elaborate about what kind of services you are building there for businesses to utilise in the real world? Will those services eventually be utilised in other countries or is the Cypriot economy especially welcoming? I appreciate these may be sensitive topics so no worries if not appropriate to discuss.
Safe Haven will assist Cyprus in being a blockchain leader. More specifically, we will assist them with technical support and knowledge. In return, the Cyprus government and private institutions will look to integrate our solutions in their daily operations. More details will follow later on.
- How far are the talks with KPMG, and what does it mean to the SHA token?
Talks with KPMG are ongoing. At this time the details of the discussions are under non-disclosure agreements. We can assure you that as soon as any information is available, we will share our successes with the community.
- The NTI medium article states that you will only utilize VET for funding if all other sources of funds are depleted. Since it’s been revealed that the team sold VET in the telegram channel, does it mean SHA has depleted all other funding sources? If no, then why sell VET?
Once we decided to move from ETH to VET we exchanged our ETH to VET and some ETH to FIAT for business expenses. We also want to make clear that the VET in our wallet is not the only VET we have left. We have a good amount in FIAT reserve and VET left in other wallets.
- How come you guys use so little VET to fund? How are the operational costs?
We use strategic methods when considering operational costs. Safe Haven operates under methods that are similar to Lean Six Sigma. We are a collaborative team that looks to systematically remove waste and overspending. We utilize the resources that each member of the team possess.
- Is there any relation between FundRequest and Safe Haven? I noticed interaction on GitHub from the CTO.
FundRequest is the project that developed Arkane. Safe Haven and Arkane developed ThorBlock in a joint offer. This is the only relationship between both parties.
- How many developers do you have, and what is their background?
We have currently four developers in the Safe Haven team and a few freelancers for the graphics and front end. We have two hardcore blockchain developers who are highly skilled in blockchain development.
- Will your team be joining DevCon 2019?
Yes, Safe Haven will be present with some team members in San Francisco.
- I understand that you can’t talk about specific exchanges, but can you divulge your exchange goals? Are you striving for two more exchanges by the end of 2019? Five more? Ten more? As a SHA investor, it’d be great to have more options to purchase with higher withdrawal limits. Thanks!
We understand the circumstances and difficulties that come with the current scenario. As we have stated several times before, we are looking for solutions that are without question. We mean this in the most sincere fashion, it is a discussion piece daily. Despite this, we cannot comment on any type of future listing or target.
*Note* Most of the questions regarding nodes were answered within our masternode release and several answers can be found there.
- Is it true master nodes have multiple tiers? (one of the medium releases mentioned senior nodes, implying there are multiple tiers).
Yes. You can refer to the medium release on nodes.
- How much SHA do the masternodes cost per tier?
Market determines this. The actual requirement for each node has been released.
- Will there be nodes for smaller holders of say 1M?
The Connect Node requires one million SHA. So, yes.
- Can we get merchandise for SHA like t-shirts?
As we move further, additional merchandise may be offered. This depends on the interest within the community.
- Will Safe Haven nodes utilize vip181 like VeChain nodes?
We have discussed with the VeChainThor team utilizing their node model. How that specific model will work in regards to Safe Haven’s governance is currently being evaluated. One thing to keep in mind — there is not always a “one-size-fits-all” approach.
- Are the masternodes Proof of Work or Proof of Stake?
Stake and lock model.
- What incentives are given to the masternodes? Is it a dividend system, token generation, or discounts for using the solutions?
Please refer to the Masternode release for answers to these questions.
- What utility does the SHA token have? I believe I understand SHA’s token utility as being the gas of ThorPay, ThorBlock and the inheritance program, however I keep seeing the question of token utility has been brought up a number of times. Can you please give your clearest response on SHA’s token utility?
As you mentioned, the SHA token will serve utility purpose as gas for ThorPay, ThorBlock, and other solutions. The inheritance solutions will require a lock-up of SHA. The Safe Haven Nodes will require lock-up to make available some of Safe Haven’s possibility. Of course, it also will be part of the fee structure in utilizing Safe Haven solutions.
- How does the SHA token increase in price, and value?
The SHA token is a utility token that functions as a necessary part of our ecosystem. Without it, the solutions do not function. It maintains a value to our organization as a utility of the products.
- Is there anything planned other than it being a cryptocurrency in the sense of token payment friction (using GAS for every transaction) and token lock-ups?
Please see the question above for the current utility aspect. Looking into the future, the SHA token will continue to have use-cases unveiled when solutions and protocols are revealed.
- Will there be token burns?
Yes. Burns will be relatively small when considering total token supply. The burns will occur when the Safe Haven platforms are used.
- What is exactly the reason for burning tokens? Only to “artificially” raise the price or are there other reasons too. What happens if SafeHaven exists 50 years, burning token after token?
Fifty years from now there may be new technology disrupting and driving new economies. How far we can look into the future is extremely limited. There is no intent to “artificially” raise the market-cap. The burn serves several qualitative and quantitative purposes. First, a minor burn of SHA proves product utilization. These small bits of data will afford us another method of analyzing how often our products and solutions are used by the consumer. Since the burn is primarily designed to assist in analytics, it subsequently serves as an inherent part of the utility of SHA. Second, the burn rate will likely remain insignificant in terms of the circulating supply. In the short-term, we do not expect that we will “run out” of SHA. In the long-term, we intend to be adaptive.
- Question regarding adoption: If used SHA will be burned (partly), that means that the value of SHA will probably increase. How does Safe Haven make sure that the costs for Safe Haven services stay stable for clients? Stable pricing is important for business adoption, hence the model Vechain chose.
There are two methods of fee-structure within the blockchain products: some products are pegged to a fiat currency and some are pegged to a specific coin (typically, Bitcoin). Our solutions are/will be intended to market to different spaces, e.g.: blockchain, asset management, finance, inheritance, compliance, traditional markets, and emerging technologies. Knowing this, each product will have its own fee-structure which will make sense both economically and from an adoption standpoint. SHA will be calculated according to the amount of VTHO which is needed on the blockchain, essentially SHA will be pegged to VTHO.
- With the myriad of ways of making the token valuable, will it be too high a price to actually use SHA if this becomes super successful? VET had to bring in VTHO so that enterprise use could have a fixed price… Will SHA run into the same problem where it becomes too expensive to use for the end user?
Safe Haven becoming “super successful” is an extremely important aspect of the governing token model (make note of the order). If the macroeconomics of the space begin to strongly affect any aspect of this model, you could expect us to consider the end-user. This is essentially like any product sold online or within brick-and-mortar, the end-user is the most important aspect of our business model. Changing variables are common and any organization must adapt to ensure longevity.
- What does the TAN token do, and how is it created? Your GitHub mentioned a TAN token.
The TAN token was an early intention. Currently, we are not moving forward with that model. This is not to say that we will not revive it in the future, but right now it is dormant.
- Can we have some more details about Thorpay? What is ThorPay exactly? What does ThorPay do? Is it an airdrop script?
Please check the recent released medium post.
- Does ThorPay interact with the SHA token, aka does it burn SHA, lock SHA or use SHA utility?
Yes, ThorPay has fees associated with it, therefore must interact with SHA.
- Who holds the private keys for the ThorPay system?
We will use Comet and the Safe Haven Hybrid wallet. The user can hold his private key in a fully decentralised solution.
- Will you utilize Comet, Arkane or Safe wallets for this?
We will use Arkane, Comet, and our own native solution. The customer will have the choice of centralized or decentralized solutions
- In your recent medium article on ThorPay you state that: ”For this, you must be a registered user of the Safe Haven Platform and holder of the Safe Haven Connect, Harbor, Consensus or a Legacy Masternode.” Does this mean ThorPay will be exclusively for MN holders? Can non-holders also utilize the service (at e.g. a higher cost)?
No, ThorPay will be available to everyone, not just node holders.
- How do the different master nodes interact with or affect ThorPay? Lower costs for transactions?
Nodes determine the discount rate when using ThorPay or any Safe Haven solution.
- Is there any limit as to which type of tokens are carried within a transaction (assuming they are VIP-180). Aka — can I send my own custom tokens, without requiring help from the outside?
We will support VIP-180 and other chains in our solutions.
- Can we also send VIP-181 tokens? For example I can imagine a CryptoKitty (or similar) game being released, where each designated user gets a specific VIP-181 token in a batch.
We are currently looking into the VIP-181 structure. No details are final yet.
- What does the web wallet do, and is it also supported by mobile?
More details will follow before release.
*Note* Questions regarding the hybrid wallet are extremely difficult to answer at this time. As most of you know we are quiet with details until an official release.
- Is the web wallet running web3 or Connex?
More details will follow before release.
- Does the web wallet support ETH or only VIP-180 tokens? What about custom tokens the community creates or VIP-181 tokens?
More details will follow before release.
- What do you mean with hybrid wallet? Centralized and Decentralized?
Hybrid means that the user will have the choice to use the wallet centralized or decentralized.
- Is there an ETA for SafeKey?
According to the roadmap: Q1.
- How is it different from Yubikey?
It is a lot different. More details will follow upon release.
- How can we pay for this product? Fiat only, or also crypto like VET, ETH, BTC?
The exact pricing model has not yet been solidified, however you should expect “all of the above”.
- What is SafeID and how is it different from VeVID?
SafeID is the SafeHaven app where you will be able to:
- Edit and modify your KYC
- Your node status will be linked in the application
- Portal where you can order your sweaters, stickerpacks,…
As always, we would like to thank our Safe Haven community and the entire VeChainThor ecosystem for your continued support.
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