Incentive economics is essential for our project to fuel the Safient protocol. Our economics should ensure that the users pay an acceptable fee and our trustless guardians get fairly incentivized for active participation. Our initial implementation takes care of the basic economics using the blockchain native currency (ETH) without our native token. But we plan on extending this with our reward system following our initial release.

Safe maintenance fee:

The safe maintenance fee is the one-time fee that is charged for each safe on the platform. The fee can be paid by either the safe creator or the beneficiary anytime between the safe creation and safe claim phase. The fee guarantees the durability, safety, and convenient recovery of the safes. The safe maintenance fee is initially set by us but can be altered through the governance process.

Safien incentivization:

The Safiens (guardians) are solely responsible for protecting and recovering the safes during the claim phase. Their active participation is critical for the functioning of the network and thus they need to be incentivized for their activities. We intend to incentivize the Safiens through two ways - through the safe maintenance fee (ETH) that can be collected while after recovering each safe and a reward that is earned for the longevity of network participation.

Tokens and reward system:

The rewarding system will be introduced in the future with the help of native works tokens that will function as utility and governance tokens. The current implementation doesn't have any native tokens.

Here are a few functionalities of our native token.

<aside> ℹ️ Our token implementation is not currently active and is in the ideation phase. We plan on implementing this after building the initial public testnet Safient protocol network using voluntary guardians.


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