Safle x Router Protocol-Recap of Live AMA Session

Time : 1:30 PM UTC

Apoorv Shankar, CTO and Arjun Sasikumar, Software Engineer from Safle attended the AMA along with host Bhavin.

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

The transcript is almost entirely in its original AMA form, mildly edited for punctuation and readability only, and is subject to the disclaimer located at the bottom of the page.

There were 2 segments:
1. Introduction of the guest and SAFLE in Router Community.
2. Community QnA round (10 questions)

*** AMA begins ***


Q1. Bhavin: Can you please introduce yourselves to the community and how you guys crossed your path with blockchain?

Arjun Sasikumar :
Hello everyone. Glad to be here. My name is Arjun and I am working as a Software Engineer at Safle since 2019. I have been handling the web3 and sdk side of things. I was introduced to Bitcoin way back in 2014 but got my way around the Blockchain tech mid 2017. Since then, the process of learning never stopped. Met Apoorv and Abhimanyu at a time when I was attending various Blockchain meetups and networking with the community. Since then, I kind of stuck around..

Apoorv Shankar :
I’m Apoorv Shankar, CTO at getsafle. I have been into blockchain and crypto from 2014. Been into bitcoin and ethereum mining. Building dapps and developer tools. My focus always has been towards adoption of blockchain and crypto. I have designed and created a course on blockchain for QCI, govt. of India as my bit towards educating people on blockchain.
I stumbled upon blockchain in early 2014 when i was in college and wanted to acquire some bitcoins. Started mining and never looked back.

Q2. Bhavin: What is SafleID? How does SafleID support seedless recovery? What are the benefits of SafleID over the traditional system?

Apoorv Shankar :
SafleID is a naming infrastructure for wallets. The core is built on Polygon, but it’s multichain in nature thus supports ethereum, bsc, tezos and we are adding more to the list. safleID has wallets linked, and these wallets are securitised using safle vault, which is a key management mechanism. This vault has social recovery, an implementation of shamir secrets on the vault which shards the recovery key into multiple fragments and distributes to trusted contacts. Once there is a need of recovery the minimum threshold fragments can be picked and the vault restored, thus restoring all the wallets and safleID.

Arjun Sasikumar :
SafleId is a naming infrastructure on Blockchain which is tied to our highly secure and open-source vault system. Since web3.0 adoption is our main goal, we are making our naming infra ie. SafleId blockchain agnostic. i.e. SafleId can be used on any turing complete blockchain as and when we add support for that.

Q3. Bhavin: How are gas-less transactions on eth. chain supported by Safle?

Apoorv Shankar:
We support gasless transactions on polygon right now. We believe that a new user should have no barriers while onboarding Safle, thus we have made relayers which take care of the gas fees for the users.

Q4. Bhavin: Are non-em compatible chains supported by Safle wallet? Does one need to be a developer to use the multi-sig feature in Safle?

Arjun Sasikumar:
Yes. Safle vault supports generation and operations for non-EVM chains wallets too via the Safle vault.

Apoorv Shankar :
i) The vault is designed with keeping non evm blockchains in the foundation. Anyone can add any blockchain to be compatible with safle vault by just making a controller. We have made a few controllers and published the code on github to make it easy for developers to understand.
ii) No. The entire idea of safle is to make things safe and simple. The multisig wallet will be really simple and addressed to a general user.

Q5. Bhavin: Can you explain what exactly nodes are? How is Safle Node better than ankr or moralis?

Arjun Singh :
Nodes are basically devices which communicates with the Blockchain and keeps a copy of the ledger. Safle node guarantees one-click node deployment and maximum uptime for multiple chains along with seamless integrations with all the other developer tools which Safle provides. Developers will also be presented with a special dashboard to keep track of their dapps which have integrated with our infra.

Q6. Bhavin: Can you shed some light on the $SAFLE tokenomics and TGE? What is the biggest milestone you would like to achieve with Safle? The end goal where you want to see Safle?

Apoorv Shankar :
$SAFLE can either be used as a method of payment or as a staking token which enables users to use utilities till the time tokens are staked. $SAFLE is primarily a governance token which will be used as 1–1 voting stake in the Decentralised Autonomous Organisation (DAO) governing, regulating and progressing the entire Safle ecosystem.
$SAFLE IDO will happen in Q4 of 2021
We want to be the access gateway to the dapps. Making it simpler for users to use blockchain based applications where their wallet security and ease are the priority.

__COMMUNITY QNA ROUND (10 questions)__

Q1 :Question by Siddhant Chowdhry

i) The most used Wallets in Crypto Space are Trust Wallet and Metamask . How is Safle better than these wallets ?
ii) What is SafleSmartPay ? With SafleSmartPay , can we transfer crypto currencies at no cost ?

Apoorv Shankar:
i) Safle is a multichain non custodial wallet governed by a DAO. None of the wallets present today provide this level of decentralisation.
ii) No. You cannot transfer crypto at no cost.

Q2 :Question by Adithya Rajesh

What kind of use-cases does the SAFLE token have? What kind of value does it play and bring to the SAFLE ecosystem

Arjun Sasikumar:
$SAFLE token can be used as a governance token.
Holders of token will have a 1–1 voting rights for voting on the proposals or can even propose an improvement. Besides that, $SAFLE tokens can be staked to use other a subscription based model. As long as the user has tokens staked, they can use those utility services.

Q3 :Question by Winter Lion

How secured is the safle wallet, is there any insurance?

Apoorv Shankar
Sorry. There is no insurance.

Q4 :Question by Hubert Jocasta

Will the Safle token be ERC20 and be available on the main Ethereum network (Main Net)?

Arjun Sasikumar:
Yes.. $SAFLE will be an ERC20 token.

Q5 :Question by Alethea Phedra

We seen many projects that claims they are fully Decentralized. But they done their work in a Centralized way. How can we sure that Safle is fully Decentralized? Can you please tell us what’s Safle working method?

Apoorv Shankar:
It’s governed by a DAO. So everything is completely decentralised between the community of Safle

Q6 :Question by DID

Among some technology key points such as: Decentralized Applications, DeFi,and BPoS Blockchain,how far are Safle going in each aspects at the moment?What are your main focus in terms of technology at the moment?

Apoorv Shankar:
Currently we are focusing on strengthening our foundation which is Safle Vault, keyless transactions.

Q6 :Question by Akshaj

When an email or phone number is required to enter the “Safle” platform, what guarantee will we have that we will not be victims of a hack as in other platforms that we enter in the same way? How vulnerable are they to these attacks?

Arjun Sasikumar:
Since the wallet is completely handled by the vault and not tied to the user’s personal data in any sense, there won’t be such a concern.
Vault is totally an airgapped system with multiple layers of encryption.

Q7 :Question by Phrince

There are already multi-crypto wallets like Atomic and CoinbaseWallet & SafePalWallet. They have been in business for a while now and are still going strong for new players, what are the advabtages of “SafleWallet” or what new featuews might attract users to use your wallet?

Arjun Sasikumar:
Safle wallet is totally platform independent (browser, webapp and mobile app) and guarantees high availability across platforms. So users can access their wallet and do transactions on the go..

Q8 :Question by Fallon Winifred

Can you list 1–4 amazing Safle features that put Safle ahead of the competition? Can you tell me what is the biggest competitive advantage Safle has?

Arjun Sasikumar:
Multi-blockchain wallet, platform independent, highly secure and non-custodial vault system, utility and governance token, community participation via DAO. Just to name a few.

Q9 :Question by Alethea Phedra

We seen many projects that claims they are fully Decentralized. But they done their work in a Centralized way. How can we sure that Safle is fully Decentralized? Can you please tell us what’s Safle working method?

Arjun Sasikumar:
Our SDKs and contracts are totally open-source.
Don’t trust, verify..😉

Q9 :Question by Ajith Plavila

How Safle generate revenue? Who are Safle’s competitors?

Apoorv Shankar:

Safle generates revenue from the users who pay for the services like multisig wallets, proxy wallets, node deployments etc.

***AMA ENDS ***

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About the Author

Sheldon Ivish
Sheldon is a Crypto Enthusiast and full-time writer at BeingInvested. He is a graduate with an avid interest in finance and investment management. Attracted to the chaos of trading, Sheldon has invested in BTC, ETH, LTC and XRP for educational purposes.

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