The term "SAFU" refers to the "Secure Asset Fund for Users," which is an emergency fund established in July 2018 with the aim of protecting users' funds in emergencies. This fund is financed by allocating a percentage of trading fees, and it is used to compensate users in the event of security breaches or losses resulting from technical exploitation.
In June 2020, Binance launched an awareness campaign under the slogan "#StaySAFU" in collaboration with Binance Academy, aimed at raising security awareness among users and providing them with information about the risks associated with cryptocurrencies and how to protect themselves from attacks and fraud.
Additionally, there is a platform called "StaySAFU" that offers services such as "SAFU Scanner" and "SAFU Audit" to assess the security of decentralized finance (DeFi) projects on the BNB chain, helping investors evaluate the risks associated with digital tokens.
Through these initiatives, Binance and the wider community aim to enhance user security in the cryptocurrency space and provide the necessary tools and information to protect them.
