The Safeguard Token (SGT) is a NEP-5-based token with various functionalities, and is a key component of the Safeguard ecosystem.
Our token model is built in such a way that it facilitates the establishment of a micro-economy. This means that as the number of users within our ecosystem grows, our prediction capability grows too. The overall usability of the Safeguard app and platform will thereby strengthen continuously. Crucially, as the system grows in functionality due to its increasingly-optimised prediction capability, members are further incentivized to contribute to the Protocol and make use of SGT.
The Safeguard Protocol’s decentralised nature implies that there is no single party who has control over the platform in its entirety. Rather, due to it being open source, anyone can contribute to the entire ecosystem; enabling to add value to the existing platform by developing their own Oracles.
The community will then review the Oracle, and if it passes validation, the creators of the Oracle will be rewarded in SGT whenever the Oracle gets a request. Incentivization is therefore a fundamental part of the ecosystem’s model, fostering a strong community of developers that will benefit when contributing to the Safeguard Protocol source code.