Safex Dev Update: May 3, 2021

Price Oracles
Towards the end of last week we started adding the price oracle feature to the TWM Wallet. The price oracle feature enables sellers to list products that are then pegged to a price that can be dynamically updated based on some outside parameters.

This comes up as a priority since during last week the price of safex cash had become much more volatile, so for example the Coach backpacks were meant to be listed at $300.00 however during the course of the week Safex Cash exceeded that price conversion yet the blockchain price stayed firm at 20,000 sfx.

With the price oracle feature (note it already exists on the blockchain) we are linking up the exchange rate on xcalibra.com and from then on, a product listing can subscribe to this price oracle and peg the product listing price to a fixed USD price in this case. Then if the price changes on xcalibra, the system will send an update transaction for that price peg that we established.

Note: the price oracle feature is usable by anyone, it is a feature of the blockchain. We will publish our code this week for study, and in case anyone wanted to establish their own price oracles on the blockchain.

Upcoming Planning
During last week we also moved the needle on our future planning for the platform. More information will be published to our close group soon. So if you have been with me up to now, it will be an interesting next step in the saga.

So far packages are arriving consistently, and you can see in the twitter feed whenever someone gets their package delivered. Most recently: this was the first purchase on the TWM Wallet

:heart: :heart: :heart: :heart: :heart: :heart: :heart:

Wrapped Safex Cash
The wrapped Safex Cash smart contract is in a completed state, and next steps are its deployment. This could take 2-4 weeks to finalize for release.

Easter Celebrations
This past weekend has been Orthodox Easter, so some of our team are enjoying a well deserved holiday, and we will tune into the updates on Documentation, among others next week.

Remember, the Safex Blockchain is an open decentralized network, on open source code. :sunrise:

Sincerely,
The Safex Development Community

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Do we swap our safex cash for wrapped safex, or is this a completely new token?

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Good update and Happy Easter.

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hope the team had a good break to unwind!

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Good stuff, ya buddy we’re with you all the way! Happy Easter y’all!!!

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If you want wSFX, you would need to swap your SFX for it. That will be done on Xcalibra in the future. The wSFX could then be traded on the BSC or ETH network, depending on which variant you have.

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You don’t need to do anything with wrapped safex cash. It is for people who are on the ETH or BSC chain so that they can come to the SAFEX chain. No other reason. Unless you are already familiar with ETH or BSC in some more advanced capacity there will be a lot of learning for you to do, and won’t be satisfied in a tid bits of updates. Although, there are at least a million people using ETH and BSC so it is for them.

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a couple more product listings :slight_smile: just keeping the engine running :slight_smile: :slight_smile:

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Have to say yup two times tonight! The San Jo valley is with you from Gilroy to SF.
Go bro!

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Nice update. Any idea of when smaller ticket items will be listed?

I want to partake just don’t want a bag/wallet for thousands of SFX.

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We are in progress to list several brand catalogs, in the meantime I am putting up nice items of great quality that might make a nice gift as well :slight_smile:

Glad you made it to here, stay tuned, we’re scaling up!

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Cool thanks Dan!

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i hope you solve these problems soon :

  1. scroll down/up in windows app
  2. deposit/withdrawal in bw.com
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