#StaySAFU StaySAFU
In the crypto world, "SAFU" stands for "Secure Asset Fund for Users" and is a term popularized by Binance, referring to their emergency fund to protect user assets in case of platform incidents.
Here's a more detailed explanation:
Origin and Meaning:
SAFU was established by Binance in July 2018 as an emergency protection measure.
Purpose:
Binance allocates a portion of trading fees to SAFU to ensure users have an additional layer of financial security in the event of platform incidents, such as hacks or technological failures.
How it works:
Binance sets aside a portion of its trading fees and places it in a separate, offline wallet, which serves as an insurance fund for users.
Slang usage:
The term "SAFU" has also become crypto slang, with users writing "funds are SAFU" to mean "funds are safe".
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