SAFU is an acronym that stands for "Secure Asset Fund for Users". The SAFU fund is a reserve of cryptocurrency funds to provide an additional layer of protection for its users in the event of a security breach or hacking incident. The fund is made up of 10% of all trading fees collected by the exchange and is held separately from the company's other operational funds. In the event of a security breach or hacking incident, the SAFU fund can be used to reimburse affected users and cover any losses they may have incurred.
Overall, having a SAFU badge on a crypto project can provide significant benefits for both the project and its users, including increased trust and credibility, protection against losses, increased transparency, and a competitive advantage in the market.
Last modified 11mo ago