Categories
Getting Started

Stake Your SAFE

Many do not want to run their own validator either due to costs, hardware restraints, lack of experience or lack of time.

In these situations you can stake against any public validator. There is no risk to your coins and your earnings will automatically compound into your stake balance.

To support this site, you can stake right here.

Validator Description:

UK Full History Node. Dual Zeon, 32 Cores, 64G RAM, 6T SSD

Validator Vote Address:

4BRXtL6nEKDVJdYPEwgGCfAAvEHT4C4Sj5peQz8kHGZu

Commission:

15% of rewards will support this validator and website. 85% of rewards are deposited directly into your stake account and will compound. The commission rate will never increase.

Categories
Maintenance

Statistics

To view basic statistics regarding the SafeCoin network for instance, circulating supply, epoch information, validator versions, you can visit the following page provided by this site:

http://stats.safecoin.uk

The statistics are updated every 1 minute and show as follows:

SafeCoin Info

Active Stake: 15092441.2536743 SAFE
Current Stake: 13777106.997410296 SAFE (91.28%)
Delinquent Stake: 1315334.256264005 SAFE (8.72%)

Stake By Version:
1.6.20   -   5 current validators ( 1.18%)
1.6.25   -  53 current validators (90.11%),   5 delinquent validators ( 8.37%)
unknown  -   0 current validators ( 0.00%),  11 delinquent validators ( 0.35%)

Block height: 31879141
Slot: 35138650
Epoch: 81
Transaction Count: 138397393
Epoch Slot Range: [34992000..35424000)
Epoch Completed Percent: 33.947%
Epoch Completed Slots: 146650/432000 (285350 remaining)
Epoch Completed Time: 18h 32m 11s/2days 6h 12m 18s (1day 11h 40m 7s remaining)

Total: 31458330.25360269 SAFE
Circulating: 31458330.25360269 SAFE
Non-Circulating: 0 SAFE

Last Updated: Tue 05 Oct 2021 11:20:20 AM UTC
Categories
Getting Started

Validator Automation

Running your validator and keeping it updated can be completely automated. In this guide, we will perform this in two parts.

Part 1 – Automating the start up and restart process

Running your validator as a systemd unit is an easy way to manage running your validator in the background and have it automatically start up after your system is restarted or after a panic error.

We will be using nano as the file editor throughout this guide. When you have finished editing the file simply hit CTRL+X to save and exit. Or you can use your own favourite editor.

Make sure you know the USERNAME that you used when installing the validator. If you get this bit wrong it will not work.

Let’s create the validator systemd unit config file:

sudo nano /etc/systemd/system/validator.service

Paste the following. Replace the TWO instances of elvispresley in the User and ExecStart sections (below) with the username that you used to install your validator (unless you did actually use elvispresley). This is the only area you need to change for your own username:

[Unit]
Description=Safecoin Validator
After=network.target
StartLimitIntervalSec=0

[Service]
Type=simple
Restart=always
RestartSec=15
User=elvispresley
LimitNOFILE=700000
Environment="PATH=/bin:/usr/bin"
ExecStart=/home/elvispresley/start.sh

[Install]
WantedBy=multi-user.target

Your startup line may differ however, if you have followed the official instructions (or the guide from this site) then the following startup script is sufficient for a pruned node

We will call the startup script start.sh, edit the script as follows:

nano ~/start.sh

Paste in the following startup code (put in your own customisations if required). Replace the –limit-ledger-size with –no-snapshot-fetch if you are running a full history node:

#!/bin/bash

cd ~

NDEBUG=1 ~/Safecoin/target/release/safecoin-validator \
        --limit-ledger-size \
        --identity ~/ledger/validator-identity.json \
        --ledger ~/ledger/validator-ledger \
        --expected-genesis-hash HfHmB9nh7EjpqoCL2DDZ559SJW4xN52gxheWPER782jW \
        --wal-recovery-mode skip_any_corrupted_record  \
        --trusted-validator 3USWzeHtWnMjzFCgmY5sUGWjn2J6KvM6xEgxegkrD16P \
        --trusted-validator 4BRXtL6nEKDVJdYPEwgGCfAAvEHT4C4Sj5peQz8kHGZu \
        --vote-account ~/ledger/validator-vote-account.json \
        --authorized-voter ~/ledger/validator-identity.json \
        --entrypoint entrypoint.mainnet-beta.safecoin.org:10015 \
        --entrypoint entrypoint2.mainnet-beta.safecoin.org:10015 \
        --entrypoint entrypoint3.mainnet-beta.safecoin.org:10015 \
        --rpc-port 8328 --enable-rpc-transaction-history --no-untrusted-rpc

Let’s make the start.sh script executable:

sudo chmod +x ~/start.sh

If running then now it’s time to stop your existing validator and then enable systemd unit which will auto start on reboot or panic errors. If you are running a validator script then stop it and kill the process:

sudo killall -9 safecoin-validator

Now let’s activate systemd unit for your validator script:

sudo systemctl enable --now validator

Your validator will now start up. In the event your VPS is restarted/rebooted, it will automatically start up after 15 seconds.

To stop your validator:

sudo systemctl stop validator

To check your validator status:

sudo systemctl status validator

That’s all there is to part 1. Your validator startup and restarts are now completely automated.

Test your validator by restarting your VPS, it should auto restart. If it does not then go back to the beginning and check each step carefully. Please allow up to 5 minutes for your validator to restart.

You can review the validator system log like this:

tail -f ~/safecoin*.log

Allow 5 minutes. If it works – you can move on to Part 2.

Part 2 – Automatic rebuild, restart and log management

Occasionally there will be codebase updates that will require a manual pull from github and a rebuild and a restart. We also need to keep the log files in check. This is a manual task that we can completely automate.

With a short bash script and with the use of the crond service it’s actually very easy to do. Some staggering is added to ensure not all validators are updated at exactly the same time.

First we create the cron.sh file using nano, our favourite text editor.

nano ~/cron.sh

Then paste in the following code block, remember to press CTRL+X afterwards to save and exit:

#!/bin/bash

# check and apply codebase updates
cd ~/Safecoin
SAFE=`git pull| grep Already | wc -l`
if [ $SAFE -ne 1 ];then
 cargo build --release
 sleep $((1 + $RANDOM % 1800))
 systemctl restart validator
fi

# truncate the log
truncate -s 0 ~/safecoin-validator-*.log

Let’s make the cron.sh executable:

chmod +x ~/cron.sh

Now let’s add cron.sh to the crontab:

crontab -e

Using nano (default easiest option), press CTRL+V to go to the end and paste this then hit CTRL+X to save and exit:

00 * * * * ~/cron.sh

CTRL+X to save and exit. Should see “crontab: installing new crontab” if your save was successful.

Run the cron.sh manually to ensure there are no obvious errors:

~/cron.sh

If no errors, then you are finished. Your validator will now automatically restart on reboot, download updates, rebuild, restart and keep your validator log files in check.

Troubleshooting

In the event that you are all setup and you have been running successfully for sometime and now for an unknown reason your validator is delinquent for more than an hour, and it never catches up then check out the log file for clues:

tail -f ~/safecoin*.log

Got an “assertion failed”? Then manual action will be required, check out the #validators channel on Discord for further instructions. If there’s no other clues then the only option is to remove the ledger and restart, you can do it like this:

sudo systemctl stop validator

sudo rm -rf ~/ledger/validator-ledger

sudo systemctl start validator

Categories
Maintenance Recovery

Create a Snapshot

For advanced users only.

When you need to create a custom snapshot from the ledger simply determine the slot you require then use the following command:

~/Safecoin/target/release/safecoin-ledger-tool create-snapshot --ledger ~/ledger/validator-ledger <SLOT> ~/ledger/validator-ledger

This will create a snapshot inside your ~/ledger folder.

Categories
Getting Started Installation

Short Safecoin Commands

By default you are going to have to specify the entire safecoin path when running safecoin commands as such:

~/Safecoin/target/release/safecoin validators

It can be arduous to do this every time, so as a short cut, I add a symbolic link to the local bin folder:

sudo ln -sf ~/Safecoin/target/release/safecoin /usr/local/bin/safecoin

Now, to run any safecoin command it’s as simple as:

safecoin validators

This is all down to personal preference but it is something I find convenient.

Categories
Fees Getting Started Installation Staking

Validator Commission

Every validator has the potential to earn a portion of the staking rewards in return for operational service.

By default, for a new validator, the commission rate is set to 100%.

This would result in all staking rewards being deposited to the validator vote account and no increase in the delegated stake size.

Set the commission on your validator as follows

# set the commission rate to 10%

~/Safecoin/target/release/safecoin vote-update-commission ~/ledger/validator-vote-account.json 10 ~/ledger/validator-identity.json

You can change the validator commission levels at any time.

Categories
Getting Started Trading

How to Trade SafeCoin

SafeCoin is not current widely available on many exchanges and the primary reason is because it has it’s own “sister” exchange.

At present time, the best way to trade SafeCoin is on the SAFE/BTC pair on the SafeTrade exchange.

  1. Go to https://safe.trade
  2. Register new account
  3. Set email address and password
  4. No KYC required
  5. Instant activation

Additionally I recommend you enable 2FA for extra security.

Once your account is open, deposit your BTC and trade SAFE.

Categories
Official

Important Notice: SafeCoin Swaps to customized Solana Codebase, “Community Edition”

SafeCoin is now based on a customized Solana blockchain implementation. The world’s first and only “Community Edition” of Solana offers industrial grade speed, performance, interoperability, and scalability to the broad general public. In order to maintain the title of “World’s Most Secure Blockchain”, a complete rethink of the SafeCoin blockchain and design was required, and it was worth it.

Source: Medium Article published 7th April 2021

Categories
Official

Important Notice: Safecoin Swaps to Solana Codebase

Firstly we would like to thank you for your continued support in using our platform. During the last 3 years, SafeTrade has evolved into what we feel is one of the finest community driven exchanges available. We pride ourselves in listing quality cryptocurrency projects which are also very community driven. In an effort to support them better we will be introducing an integrated and industry leading on-chain trading experience in the near future (SafeSwap).

Source: Medium Article published 23rd March 2021

Categories
Fees Getting Started Staking Voting

How do Staking Rewards work?

Staking rewards on SafeCoin are determined by a variety of factors, some of which are related to the chosen validator, while others depend on the global network state.

Rewards are automatically added to the active stake to compound, which means withdrawing earned rewards also requires the cooldown phase to pass.

Staked Supply: Newly issued tokens are rewarded to those staking, which means that if there is a lower percentage of the circulating SAFE supply at stake, those staking will receive higher rewards.

Transaction Fees: Transaction fees in SafeCoin are dynamically adapting based on the load in the system. 50% of fees is burned, which indirectly benefits SAFE holders as this lowers the overall SAFE supply. The rest is retained by the validator proposing the block containing the transaction.

State Rent: Accounts and contracts on SafeCoin are charged rent in proportion to the space they occupy. 50% of the rent the protocol collects is burned, decreasing the overall SAFE supply, and the rest is distributed to validators as part of the transaction fees.

Validator-Specific

Commission Rate: Validators can set a commission fee in the protocol. This percentage is the proportional cut that validators receive from delegated stake for operating the node infrastructure on behalf of token holders.

Uptime: Validator nodes earn credits for blocks on the majority fork they successfully voted on. Stakers earn a portion of inflation rewards based on their proportional stake times the percentage of blocks their validator successfully voted on. As an example, if a validator missed to vote on 10% of blocks, its delegators will only receive 90% of the staking rewards.