Hosted by CatsRus (SafeMoon Education Manager) and supported by Veno (Discord Community Manager) and Gandalf (SafeMoon Educator)
Table of Contents
In the previous Lab, Gandalf talked about cryptography and all the kinds of crypto decryption and encryption.
One of the newly announced SafeMoon hires was Head of Cryptography, Lynn Spraggs.
If you want to learn about what cryptography is, click here to listen to SafeMoon Labs
This week's topic is Blockchain: Technology and Layers. A quick disclaimer because some people on Twitter just already thought it is about our blockchain. It is simply about blockchain technology, and how blockchain fits in our digital world and how you can just actually work with the blockchain and what the use of it is.
SafeMoon Community Stories
"I just want to say a huge thank you to everyone that participated in the SafeMoon Lowdown that commented. So there were a lot of community members that shared their story along the SafeMoon's first 12 months; how they got involved and what they were a part of and how they've just stuck with the Army through thick and thin. And yeah, I just wanted to shout out to every single one that made those and left those comments and shared their story because it shows some passion behind SafeMoon that even some of the people that you may not know in the community have come and stepped up and shared their thoughts. So it's really appreciated for those that got involved."
Birthday Month Recap
SafeMoon.com: We had the new safemoon.com domain launched, so we are now officially on safemoon.com. It's just the better domain to be on. Nine times out of 10, if you ask anyone to search something on a web address, if it's not defaulting through the Google search or a search engine, they're more than likely going to put .com. So that's the first thing a lot of people would do. So just in a usability case, it's just better to have. There's a lot more technology fundamentals behind it overall, compared to.com versus .net. So it's just a great thing to have.
0% MoonPay Fees: We had a two-week period of zero fees. So for those that were able to take a part of the MoonPay fees, we had 0% fees, subject to the blockchain fee. There's always that fee that we can't get away from. But from MoonPay's charges of the 3.5% that was then brought down to zero with them and hopefully in the future we can do similar things with them as well. So that was just a great thing if you wanted to be part of crypto, not just for SafeMoon, but you had some investments that you wanted to partake, using the SafeMoon wallet, you were able to take advantage of the 0% fees. So just something great to have as one of the presents.
SafeMoon Wallet Updates: We had a lot of SafeMoon Wallet updates. There was a lot of functionality and a lot more background things that happened for the wallet.
Router Upgrade: We're going to cover the router upgrade a little bit more. But some of you may would have known towards the end of the month, we ended up turning off the Swap. The Swap was turned off, and we ultimately just had to do a background upgrade in order to complete some of the things that we wanted to do for the future. So I'll come on to a bit more about the router upgrade in a minute, but for now, we had the router upgrade.
3 New Hires: We had three new hires on the backend.
- SafeMoon's VP of Research and Development, which is Jake Hammock. He is a CEO of Selu Technologies, a company focused on patent pending environment innovation.
- SafeMoon Director of Technology, Robert Spraggs, who was the CTO for both Aegis Systems and AKCode. AKCode has protected data and communications in the US government for over 15 years.
- SafeMoon's Director of Cryptography, Lynn Spraggs was Chairman for 10 years and founder of AKCode. He received a Doctorate of Philosophy in engineering and mathematics from Stanford. He is also the owner of Aegis Systems Canada, a cybersecurity company.
- You can find more information about them at safemoon.education/lowdown.
SafeMoon Special #2: We had the YouTube SafeMoon Special #2, by the one and only Mr. Adult. With his beautiful voice, he did another voiceover also recapping the birthday month, also releasing a few bits of information and delivering a few fireworks at the end.
- SafeMoon Card: We got to see a lot of images of the SafeMoon card and we've also then integrated that into an AR experience so you can see it in real life. That is designed in a way that now, with a lot of card companies, you'll see that they'll have numbers on the front. And that's just anticipated for the design of being able to share the card, if you want to share that you've been a part of something and you've got yours. So if you wanted to share it, you couldn't post an image on the internet, so being able to have the security of just having everything on the back is also a great benefit to have. The SafeMoon card is coming very soon. We are heading for the Q2 release as mentioned. So stay tuned for that.
- SafeMoon Exchange Sneak Peek: We got to see screenshots of the SafeMoon Exchange. So these were mockup designs of what it will fundamentally look like once built in the design space. At the minute, the backend is being flushed out. And once the backend is flushed out, you can start incorporating the more visual side of things. So the screenshots you had were more just visual renders of what it will look like, but definitely gave an insight to what is coming in the near future.
- Naughty Naughts Preview: We had the Naughty Naughts NFT preview so now we have some insight on what kind of things SafeMoon's looking at with their NFTs with the 3D design that was shown on the SafeMoon Special as well.
- Competitions and Giveaways:
a) SafeMoon PC: Xidax has taken the time to build out a limited edition SafeMoon computer. There are only three. They will be signed by John and they will have a connected NFT with them, too.
b) Time Square Bulletin Board: For those that didn't know at the beginning of the year, SafeMoon started a New York billboard campaign for 365 days. And we are just over three months now. We are into April, four months of that billboard being online. And we have I believe it's four options to do with revamps of the design of that board. So we get to change it up throughout the course of the year for different things. So we now want you guys to be involved with that to be able to design the next one.
Now, the criteria for the next billboard design isn't yet released, but stay tuned for that. Because if you want to be able to have your work displayed in Times Square, then that's a fantastic opportunity to do so.
- Jonathon “Sketch” White, SafeMoon's New Studio Manager: Sketch is a fantastic hire to be able to start bringing the video content into a true, I would say, TV quality when we start to do announcements and stuff like that. Just looking into John's background and who he has been working for.
Bitcoin Miami 2022: SafeMoon is going to Miami this year for the Bitcoin Miami 2022, so if you are in Miami or are going to the Bitcoin Miami conference, try and find us. There will be limited edition SafeMoon t-shirts there.
Digifinex Exchange Listing: The final big gift was the second exchange listing that was mentioned. DigiFinex I would say is at least top 75 out of the exchanges, but more specifically it's definitely one of the higher volume exchanges that SafeMoon's been listed on, averaging over $3 billion in transaction volume per day. So every 24 hours, they're averaging around about $3 billion at the moment. So definitely a bigger exchange to be on. They are listing with tokenomics at first and then, hopefully, in the future, once everything's settled and ready to go, global tokenomics will soon follow. We have the pairings with Ethereum and USD. So USD is the standard pairing for pretty much any exchange and then we have the Ethereum side, but we also have the first pairing of Bitcoin to SafeMoon on an official level. So if you've got a large portion of Bitcoin and you want to move it over and buy some SafeMoon, you can now do that through DigiFinex with a straight swap from Bitcoin to SafeMoon. Now again, there is still 10% tokenomics applied, and those will reflect monthly to all the DigiFinex holders. So if it is that you're on there, and you're not seeing reflections, it's paid out on a monthly basis, same way some of the other exchanges do.
Router Upgrade: The router upgrade is complete and essentially we are running on a much better operating system now. We're now running where we can now start to install new software or new products or whatever it is that we need to now install on it. We can now do that with a lot more ease than trying to have to work our way around code to try and make things work. We have the option to just make things work, which is great.
Cross-Chain Swap: For those that cross-chain swap, there was mention about the BUSD pair into SafeMoon that is no longer needed. Because we can still essentially swap between BUSD and SafeMoon without needing a dedicated pairing. So that sort of thing with the overall LP side of things for the BUSD hasn't been put back because it's going to be utilized elsewhere for the pairings, I believe is what we were referring to, from the conversations that John was sharing out the other day.
2022 Utah CEO of the Year
For those that didn't have any sort of catch up to John's Twitter, or his Instagram, John decided to "go to Mars."
While John was "on Mars," Hayden, the Director or Manager of Sales, went to receive John's award for the 2022 Utah CEO of the Year. Definitely a fantastic award to receive, important to not just John but SafeMoon as well.
Community Questions and Answers
How do I migrate from V1 to V2?
CatsRUs: I would recommend doing the following on the PC. Just visit SafeMoon.com and click the button that says “Consolidate to V2 SafeMoon!” Once you’ve connected your wallet, you can use the swap function to move SafeMoon from v1 to SFM (v2). Please make sure you do NOT transfer your V1 tokens to a different wallet as you will lose your tokens.***
I didn’t pay attention to the migration instructions and lost my tokens. Is there a way to recover lost v1 tokens that were transferred to other wallets?
CatsRUs: At the moment, the team is working on everything related to V1. I have no updates or information as to what’s happening at this time. Keep an eye on the social channels. As soon as we’re able to share more information, we will be able to guide you.
Is there some code to be added to cause V1 transactions to revert?
CatsRUs: The team is aware of everything in V1. I can’t share details as to what’s happening just yet, but they are working on things to, kind of, resolve everything that is happening. I will say that we can’t change V1. We have to work around it. Solutions are being made to resolve that issue.
Will the SafeMoon Mastercard allow us to toggle between or select the crypto we wish to use as payment during point of sale OR will we have to sell or convert our crypto to use it? How will it work?
CatsRUs: There hasn’t been a defined model given out yet. You mentioned one where you load the card up and use the card however you want. There’s an alternative options that could potentially connect to the wallet and use the wallet directly, using the wallet as a selection tool to then pay with whatever you want to use. Those are two options that could fundamentally work. There may be other options as well, however, we have not gotten confirmation on which model they’ve settling on or which they are going to use.
Who gets the founder edition SafeMoon Mastercard?
CatsRUs: The initial design will be for the first people who get it. I’m not certain but I would treat it as first come, first serve. How many people that is-- we’ll have to wait and see. It’s for the first people to sign up, essentially.
When will the signups for the Mastercards be opening?
CatsRUs: When we have a date in mind, we will share it with everyone. There is no date as of yet.
How will the SafeMoon MasterCard work as far as taxes?
CatsRUs: Now, from a taxes point of view from governments, I'm not a tax advisor. You'll need to seek out legal and taxable advice. But from a SafeMoon tax point of view, it would ultimately work in the same way. It's the same way as transfers – 2% is a charge that would be applied. If there's any other transaction fees on top of that, it would obviously let you know based on MasterCard, Visa, or those types of transactions.
So from our point of view, SafeMoon's point of view, it should just be the 2% because it's a transfer fee. In terms of any sort of taxes from a government standpoint, I couldn't tell you because each state from the US may have a different law and then I'm from the UK, we have different laws, and it may be different for everyone. So it's just an area we can't comment on, unfortunately.
Do you have any plans to list SafeMoon on Binance?
CatsRUs: There are no conversations to my knowledge that it may happen in the near future. It may happen but we don’t know. We can only continue to act and make requests. Until such time, just treat it as nothing has been announced.
What's going on with Mandela Exchange and tokenomics?
CatsRUs: Mandala is still on track to release global tokenomics. Hopefully, we will find out more information with the status and are on track to deliver mid-April.
Does Digifinex provide reflections or burn tokens?
CatsRUs: All volume that runs through Digifinex is internal. Everything that incorporates with that, they just apply the 10% tax on buys and sells with a 2% transfer out-- to the blockchain for example. Standard Tokenomics are applied to them and everything is dealt with internally. Global Tokenomics will come in the future. We are waiting for Mandala to list the Global Tokenomics which should be, hopefully, within the next two weeks. They have mentioned that they are still on track.
Is the Digifinex listing on chain or off chain? Did they require a pool of SafeMoon and will holders receive reflections from that?
CatsRUs: They are acting as their own entity and are off the chain. They will ultimately have a pool for liquidity. In terms of the operation, they are a separate entity as is any exchange.
Is DigiFinex showing token amount, sales, or volume?
CatsRUs: So they work on a token volume basis. They will go through the token volume, so you may see it like a billion tokens they've gone through in the last 24 hours. So they work on a token, not Dollar, or GBP, or whatever currency you're in. So what they're working on at the minute. So just keep an eye on them.
Did we lend DigiFinex tokens to sell? Did they buy them? If so, when did they buy and how many?
CatsRUs: That's something I need to clarify. I'm not too sure on the exact listing process, whether they are doing a buy on release or they have a liquidity pot. I know that realistically, if they wanted to, they could not touch the chain portion until they sell and then once they withdraw the SafeMoon, then you would be able to buy them on that sell, if that makes sense. So if I was to withdraw from DigiFinex, they would then buy the tokens to send to you, or they have the LP already stored. I'm not too sure. I'd have to clarify.
Does the Mandala Exchange base their volume on token or dollar?
CatsRUs: Let me check because I'm not too sure. Mandala Exchange, I have to see visually to tell you because I haven't an idea without looking at it. Markets, SFM. Oh wait, you can't see it yet because they're not listed. I'm not too sure. I would need to visually see how the listings are. Let me see.
The easiest one to say would be Bitcoin. Let me look at their Bitcoin market USD. So their volume is split in two. Their volume actually displays based on what you want, at least from a PC point of view. So you can look to see either the pairing or the native token that you'll swap into. So they do it in both from what I can see here because they've got the USD value and then they've obviously got the Bitcoin value so you can see both of them. So they do theirs in both, but I know for DigiFinex, they specifically show the token amount. Yeah, I can definitely see the USD value for Bitcoin at least.
SafeMoon Swap/SafeMoon Wallet
Is there an issue with high gas fees? Why is it happening?
CatsRUs: The developers are looking into it to see if it can be resolved. It is in the right hands and will be addressed as soon as it possibly can.
Is the team looking at a better chart integration into the Wallet?
CatsRUs: Yes. They are working on it. Hopefully, we’ll have more information soon as to how that is and what it will look like. You’ve seen some of the designs. In this case, being able to use our own is an option. Another option is working with a third party as well.
Does SafeMoon have a plan to implement a way that allows us to purchase Bitcoin and other top 5 cryptocurrencies in the wallet?
CatsRUs: Polygon and Avalanche will be the next two chains to be utilized and then we will add more. As we add more, we need to take precautions and be mindful not to rush to get them added. They will be added in due course and from there, we’ll be able to incorporate buy buttons and other things for those specific tokens.
Can we have a social media feature within the wallet with news/social media aggregate so that we can see news and social feed with updates from our favorite cryptocurrencies?
CatsRUs: There are definitely going to be more features added and on the mind to get information and education out and perhaps the ability to tag articles from using an API and deliver that as an option to be integrated into the wallet. We definitely see it happening. I don’t know how quickly that will happen but once we’ve got the foundation of that— yeah, for sure.
Do we have a timeline on the cross-chain and when it will be up and ready?
CatsRUs: I don’t have a timeline as of yet. As we mentioned earlier, the router needed to be done first which now is. We need to make sure everything is running as it should before cross chains as well as Swap and Evolve. I can’t expect it to be too much longer—nothing over the top.
Will EverGrow be listed back onto the Swap?
CatsRUs: I'm not too sure. In terms of the listings and how they are, I don't know if there's anything going on with upgrades or anything on their side for us. So I will definitely have to have an answer for you at a later date on that one, because I'm not too caught up on the listing side of things for how that's all going. As I know, there's a few partners that are doing V2 upgrades and stuff.
Will the SafeMoon Exchange (CEX) come out with cryptonomics initially or in a later version?
CatsRUs: So that is something that is ultimately still going to happen. Cryptonomics is still going to happen. It's still something that was fundamentally shared with you guys in an earlier Q&A. So it’s still happening, just no concrete date, because a lot of the features that we want, we've gotta get the fundamentals working first. So once the exchange is listed, it's been utilized as an exchange, from there, we can go ahead and simply start to apply the features that we want.
So, not to begin with, I wouldn't say unless they're able to get it done before the listing that they're expecting to list on. But I would say, always minimal viable product: get that running, get that operational and then add to it. So we got the wallet launched, now we're developing it. And then from there, we can just slowly start to get better at the overall functionality that was obviously mentioned, especially within the SafeMoon Special, which was accessibility. That's the biggest key.
What kind of consensus method will be used on the SafeMoon blockchain?
CatsRUs: We don’t know which kind of consensus method will be used. When that moment comes, when the blockchain comes and everything is built, you will know what kind of systems that might be. As for now, there’s no additional information on that. If you want to learn more about how blockchains operate, follow Gandalf and be on the lookout for the next SafeMoon Labs as Gandalf will be cover this. The method has not yet been confirmed.
Is there any update on the Mooncraft server? Will we be able to do things like mine SafeMoon from within the game?
CatsRUs: Their big projects are relatively close to completion. Creating and building the foundation of the Minecraft server takes a lot of time. Once all the game modes are operational, they can start looking at the integration of cryptocurrency. First and foremost, they need to complete the server as a video game before they start integrations of crypto. Project StarFruit, an MMO, is around 80% complete. Look for more details to come.
I know that wind turbines may be fractionally owned, the NFTs, but I don't know if that would stop an individual from owning one entirely. And I would feel that if I owned an entire turbine, or NFT to one, that I should be able to look at its activity on the web3 network that I'm benefiting from. Once the wind turbine NFTs are released and active, could we possibly see an active chart or dashboard whereby we could monitor the output of the wind turbine that we have purchased an NFT to should we happen to own an entire NFT to a turbine?
CatsRUs: Okay, interesting thought. First of all, on the ownership of a wind turbine through fractional NFTs, it's definitely gonna be something that is gonna make the NFT more valuable in itself. Because you've seen the likes of the Apes, you've seen the likes of the, trying to think of any others off the top of my head. Gandalf, help me out! Name some NFT's, the big ones. I can only think of Apes right now.
Gandalf: The Bored Apes.
CatsRUs: What are the other ones called?
Holder: Well, begging your pardon, sir, but I would agree that the NFT has to be attached to a tangible object in order to retain real-world value. But that value is amplified by the fact that it produces something, instead of consuming or simply sitting on a shelf. I would really think that an active chart that allows people to monitor, even if they cannot see what their individual turbine produces, but that we could see what maybe the entire community's collection of wind turbines produces as a whole.
CatsRUs: Yes. So what I was coming to with that is saying that just from the fundamental fractional point of view, that is what's going to make the NFTs valuable as a whole to essentially be able to own a whole wind turbine. So through the fractional process, yes, that will make it fundamentally valuable. So that's definitely something that's going to be great for the NFTs as a whole with the connection to the wind turbines.
With the beauty of the blockchain – now, again, this is subject to integration with the blockchain and what is shareable – whether you would need an entire process to the whole wind turbine or whether just you owning a fraction of the turbine gains you access to that information. Because we need to work out if it is going to go through the blockchain in order to access information or is it on a private, centralized station, shall we say?
So, I'm not too sure how the setup will be as of yet in relation to that. So we have to kind of wait until the full functional operation is complete before we can kind of say, "Oh, it's fractional," or "It's a whole NFT" or "Do you even need an NFT to see it because it's on the blockchain?"
Gandalf: While you asked, Cats, the other one that just came to my mind is CryptoPunks.
CatsRUs: That was the one! I couldn't think of the people because there's literally the three biggest. You've got the two sets of different Apes and then you've got the Punks, which are the top three. Does CryptoPunks actually give you anything besides the image? Is there anything associated behind them?
Gandalf: As far as I know, no.
CatsRUs: Oh, okay. It's crazy.
Gandalf: It's just a rarity that hits, like 10,000 unique generated characters.
CatsRUs: I know but even the Apes have 10,000 unique characters, but they get you into a club.
Gandalf: But these have blue backgrounds and black and red and purple.
CatsRUs: NFTs is a whole different conversation and it definitely hurts my head that someone can pay an extortionate amount of money for an NFT. It's crazy, but I'm sure we can do some Spaces on NFTs. You've already done an NFT Spaces, have you not?
Gandalf: I've done the one SafeMoon Labs about the NFTs and explained where to get them and how to get them and how it just works in this kind of way. But I definitely never talked about CryptoPunks.
CatsRUs: Yeah, no, but maybe once we get closer to or at least more information on Naughty Naughts.
Gandalf: For SafeMoon Labs.
CatsRUs: Come and see some Naughty Naughts. Oh, that'd be good. SafeMoon Labs paired with Naughty Naughts. Maybe, we'll see. We got one more person that wanted to come up, and then I'm going to cover the last questions and then we will call it there.
Can you clarify if any turbines have already been installed in The Gambia? And any idea when we'd get more information regarding that process?
CatsRUs: So nothing in terms of installation or anything relating to The Gambia with turbines. That's not my area. If I ever get any more information, I'll let you guys know. But that area specifically is going to 100% either come from an official announcement of some kind or a SafeMoon Special or just from John himself. So definitely keep an eye on that.
Written by Pheonix Rising and Sir Burns