Safex Dev Update: May 3, 2021

dandabek · May 3, 2021, 10:49pm

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

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.

Sincerely,
The Safex Development Community

cjordan07 · May 4, 2021, 12:28am

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

Michaelskidmorerocks · May 4, 2021, 12:50am

Good update and Happy Easter.

pooi · May 4, 2021, 12:51am

hope the team had a good break to unwind!

shazbot · May 4, 2021, 1:05am

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

pokerdude · May 4, 2021, 1:07am

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.

dandabek · May 4, 2021, 1:18am

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.

dandabek · May 4, 2021, 1:44am

a couple more product listings just keeping the engine running

shazbot · May 4, 2021, 8:08am

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

lecodo4776 · May 4, 2021, 8:12am

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.

dandabek · May 4, 2021, 2:00pm

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

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

lecodo4776 · May 4, 2021, 3:29pm

Cool thanks Dan!

xanax · May 4, 2021, 7:35pm

i hope you solve these problems soon :

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

Adamex · May 20, 2021, 5:47am

Guys, we are missing another cryptobubble
AGAIN! And safex is still worthless. That’s damn sad

TomDillon · May 20, 2021, 5:56am

Sad, but when Safex rises it will rise for a reason, not because of some bubble

Adamex · May 20, 2021, 8:07am

But you need liquidity, providers of liquidity are speculators. The same as on the market of currencies or oil, steel, corn etc.

shazbot · May 20, 2021, 1:38pm

These things takes time. Hang in there! There is utility in Safex cash and tokens, it’s meant to be used.

Stevo · May 28, 2021, 2:02pm

Relies on real world sales for success. It’s a keeper through any crypto cycle IMO.

Stakesake · May 28, 2021, 5:07pm

Is this the latest update? Progress seems to have slowed down when this should be the most exciting time for the project? I don’t know whether to blindly trust that there is development and activities behind the scene or move on?

Mex · May 28, 2021, 7:32pm

In the discord community Dan said there will be a big update in the next week. Don’t know what to expect but development is happening, I don’t like it either that there where no development updates the two last weeks, but I feel like Dan sometimes prefers to work on it and surprises everyone once it’s there, and therefore not giving updates hopping to finish it earlier…

Just guessing, but all in all I have little doubt that progress is happening behind the scenes.