Safle

Non-custodial, multi-chain crypto wallet and blockchain infra. provider for the decentralised ecosystem, governed by the community

HIGHLIGHTS

Safle wallet makes buying, selling, transferring and storing crypto as hassle-free as using a social media platform or email. SafleNode provides services for EVM compatible blockchains with more to come.

SafleNode Web3 Infrastructure along with SafleKeyless allows developers to easily onboard users onto their dApps.

Safle has raised $5M from investors such as Draper Dragon, Woodstock Fund, GSR, Mapleblock Fund, AU21 and Polygon

A multichain, non-custodial wallet made for the users, by the users.

Safle is a composite tool for blockchain accessibility, enabling users, dApp developers and enterprises to seamlessly access the decentralized ecosystem. Safle enables developers to get the right set of tooling they need for user onboarding and management. Equipped with a highly-secure and user-friendly interface, Safle makes user onboarding and account management a piece of cake.

Safle provides its users a keyless SDK, which creates, manages and operates user wallets in the most simple way. On the other hand, they have integrated token swaps to make all crypto transactions contextual. The wallet is offered to users as a web application, mobile application, and browser extension. With this flexibility, Safle caters to all kinds of crypto users from noobs to professionals - making sure no one feels left out.

Lack of interoperable ID-wallets and complex user onboarding deter Web 3 adoption

User onboarding is highly dependent on the complex blockchain protocols and leaves dApps with little to no leverage over it. The moment a user lands on a dApp, they are bombarded with technical jargon, which proves to be a major deterrent in onboarding.

With an ever-growing blockchain ecosystem, there is a high dependency on having multi-chain wallets to interact with dApps. Apart from these basic issues, there are multiple problems with the current wallet landscape, such as:

Complex Custody & Hack Prone: Custodial wallets always come with a lot of fine print and are prone to hacking as everything is kept in custody with the wallet providers and grant its users only minimal access.

Many Assets Many Keys: To use multichain wallets, multiple keys are generated, which is really tough to keep track of and manage by the users, thus, making the entire process less user-friendly.

Lack of Interoperable Identity on Multiple Blockchains: Identity standards exist in the decentralized world but are highly fragmented across chains and are practically useless for real-world applications.

Multichain Infrastructure Requirements for the Developer Ecosystem: Blockchain infrastructure relies on a network of decentralized nodes, which perform multiple operations like validating transactions, keeping track of blockchain activity (archive nodes), and providing access to blockchain applications through RPC-compatible endpoints.

A next-generation, community-governed, non-custodial wallet, identity protocol and Web3 infrastructure provider

Safle’s applications suite is offered with a set of SDKs, applications and tooling infrastructure, namely:

SafleID: An identity infrastructure, which is chain-agnostic in nature, built for the users to easily identify their wallets on-chain, thus building an entire on-chain identity of the user with all the transactions and activities in one place.

Safle Vault: An HD-wallet-based vault with 6 layers of encryption to generate and manage user’s private keys for multiple blockchains. This is open source and built in a highly modular way, which makes it easy to integrate any blockchain.

Safle Keyless: A widget to allow dApps to integrate with Safle infrastructure so that users can use dApps on multiple blockchains with all the wallets they have, including SafleID. Users can access their wallets using Keyless, while being inside a dApp and sign and send transactions.

Controllers: Multiple controllers are built for easing the interfacing between dApps and Safle SDKs, which provide requisite data sets and adapters.

Web Application, Mobile Application, Browser Extension: Safle Wallet is catering retail users via multiple applications, allowing them to use their wallets, send/receive funds, buy cryptocurrencies and swap tokens on any platform.

Safle stands true to the principles of decentralization through community governance

SafleDAO uses governance mechanisms that allow $SAFLE holders to propose changes and steer the Safle ecosystem by creating proposals, which can be voted upon by $SAFLE holders. The initial design of the DAO will be created by the founding team, which then is also governed by the DAO itself, thus, democratizing not just the ecosystem but the propellent force itself.

Safle’s business model is relatively simple, as its main revenue source is subscriptions for using retail (B2C) and dev (B2B) tools and infrastructure. The fees earned go to the DAO treasury and are utilized for operations and other platform needs. The remainder of the fees will be redistributed to the community token holders or will be burnt, as per the community’s decision. For every $SAFLE paid, some part of it will be used to replenish the community and staking pools, so that the SafleDAO has a continuous stream of inflows to keep awarding new users with voting privileges in the $SAFLE ecosystem.

The future is Decentralised; Safle makes it Safe & Simple

Blockchain technology has the potential to transform the world into a better place. It will be used as the foundation layer for building new levels of trust in finance, supply chain management, political elections, healthcare, education, gig economy, and many more. Even though the world is still in the early stages of Web3, mass adoption of blockchain technology is forthcoming and inevitable.

The ever-increasing demand for cryptocurrency during the pandemic has positively influenced the market for the wallet space. Cryptocurrencies, such as Bitcoin are gradually making a transition from uncertain investment instruments to payments. There is growing attention to payment habits and the financial life cycle, as the COVID-19 pandemic has led to more calls for dematerialization of payments. The non-custodial wallet market is highly consolidated due to several global and regional players vying for attention in a somewhat contested market space. As the market poses low barriers to entry for new players, several new entrants have gained traction in the market by offering products that are rich in features at competitive prices. The Safle technology stack is here to accelerate and aid the adoption process for users and developers wanting to access and build on decentralised infrastructures.

$5M raised from top-tier VCs and Angel investors

Safle’s investors include Draper Dragon, Woodstock Fund, GSR, Mapleblock Fund, AU21, GHAF Capital Partners, Sanctum Ventures, 18 Ventures, New Tribe Capital, WAMI Capital, Polygon, Frontier, NFT Tech, Tony G, Terrasurge Capital. Safle has also received investments from the founders and key personnel from Tezos India, Ocean Protocol, Unmarshal, PureFi, Dfyn, Router Protocol, MahaDAO, Velas, Biconomy, Persistence, Nord Finance, Kalamint, Plenty DeFi, SafeHamsters and others.

The IP stack for the Safle project has been built by an outstanding team with deep expertise in blockchain and technology.

Abhimanyu Kashyap - Co-Founder CEO

Shikha Mehra - Co-Founder, Strategy and Governance

Priyanshu Singh - Co-Founder CMO

Megha Mehra - Co-Founder, Legal and finance

Apoorv Shankar - CTO

Sid Thounaojam - Head of Product

Arjun Sasikumar - Blockchain Engineer

Shubham Singhal - Backend Engineer

Stefan Lordeche - Front End Specialist

Sebastian Bratu - Frontend Specialist

Dev Singh - UX/UI

Lokesh Kumar - UX/UI

Gunika Kaur - Content Specialist

$SAFLE: The protocol’s native governance token

In order to maintain a balance between developers and retail users, Safle intends to develop wallet infrastructure in a completely non-custodial fashion using open governance mechanisms via the SafleDAO, coordinated and maintained by the Safle token economy. The native $SAFLE token will not only enable token holders to propose and vote on changes (governance privileges) to functionalities and feature sets of the wallet and node services, but will also create a self-sustaining token economic model, where value will be generated by providing access to finance and identity in the decentralised digital world. $SAFLE is a governance and a multi-utility token. Users can earn yield by staking it via the staking pool.

The $SAFLE token will have two main utilities:

Asset Value $SAFLE can either be used as a method of payment or as a staking token that enables users to use various subscription services as long as tokens are staked.

Governance $SAFLE holders can participate in the future of the project by participating in the Governance mechanism through SafleDAO. Holders of the $SAFLE token will have a 1-1 ratio for voting on the proposals. Holders also get the right to propose for carrying the ecosystem forward.

Utility for Retail Users:

Holders have to pay a one-time fee for porting their SafleID to different chains like BSC, Tezos, etc. The fees can be paid with $SAFLE.

Auctioning of SafleIDs will incur an auction fee.

Holders will need to stake their $SAFLE to use the Guardian feature which is a social recovery feature to recover their vault in a totally non-custodial and trustless manner.

$SAFLE tokens can help enable smart payments for the M2M economy with proxy smart contracts helping users to manage their smart devices.

Users can swap between various tokens from the inbuilt tokens swaps SDK, which supports all major tokens on the Ethereum chain. Safle uses an aggregator model powered by smart contracts to provide high liquidity and minimal fees on the swaps using AMM pools such as Uniswap, Sushiswap and Kyber Network. Support for BSC and Polygon chain will also be provided soon. Holders can pay the swap fees with $SAFLE.

Utility for Developers:

Developers will need to stake $SAFLE to be able to use advanced plans of the SDKs.

Developers will need to pay $SAFLE for their use of Safle for infrastructure services, such as Keyless and SafleNode.

Basic plans for Safle SDK APIs will be rate limited. Users can opt for advanced plans for both SDKs and infrastructure such as SafleNode, which can guarantee maximum performance and high availability. These advanced plans can be enabled by staking $SAFLE tokens and will remain active as long as the tokens are staked.

Developers can propose changes to the platform through the SafleDAO. To do this, developers have to hold a minimum threshold of tokens.