đ ī¸Tokenomics
Empowering the SafeLoop Ecosystem
SafeLoop operates on a distinct model, resembling B2B2C, powered by a decentralized network of participants who collaborate to provide data to end-users in exchange for $SLOOP rewards. $SLOOP, the network's utility token, serves as the cornerstone for aligning data providers and consumers, incentivizing protocol participants to efficiently manage and provide data.
By utilizing SafeLoop, users can effortlessly access blockchain data, paying only for the specific information they require. A multitude of popular web3 applications in the ecosystem already harness the power of SafeLoop.
Token Name | SAFE LOOP |
Token Symbol | $SLOOP |
Tax | 0% |
Total Supply | 10,000,000,000 |
The SafeLoop Indexing Model
SafeLoop's approach to indexing blockchain data mirrors how Google indexes the web. In fact, you may have already engaged with SafeLoop, albeit unknowingly. If you've used a web3 application that sources its data from a subquery, you've effectively queried data from SafeLoop. The platform plays a pivotal role in democratizing blockchain data, facilitating its accessibility, and nurturing a marketplace for data exchange.
Roles of Network Participants
Four primary roles within the SafeLoop network include:
Delegators: They delegate SafeLoop to Indexers and contribute to network security.
Curators: Curators identify top-performing subqueries for Indexers, enhancing data quality.
Developers: Developers build and query subqueries, driving the growth and diversity of the network's offerings.
Indexers: The backbone of blockchain data, Indexers ensure data accessibility and serve the network.
Token Supply: Burning & Issuance
SafeLoop's initial token supply stands at 10 billion SafeLoop tokens. It has an annual issuance rate of 3% to reward Indexers for staking on subqueries. Consequently, the total supply of SafeLoop tokens grows by 3% each year as new tokens are issued to Indexers for their contributions.
To counterbalance this new issuance, SafeLoop employs several burning mechanisms. Approximately 1% of the SafeLoop supply is burned each year, and this figure has been increasing due to growing network activity. The burning activities encompass a 0.5% delegation tax when Delegators delegate SafeLoop to an Indexer, a 1% curation tax when Curators signal on a subquery, and 1% of query fees for blockchain data.
Enhancing the Protocol
The SafeLoop Network remains in a state of constant evolution, with ongoing improvements to the protocol's economic design. The SafeLoop Council oversees these changes, welcoming active participation from community members to shape the network's future. It is a dynamic ecosystem dedicated to delivering the best experience to all its participants.
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