Bryan Legend Gives SafuuGo to the Crypto Community
On July 10, 2023, Bryan Legend announced his resignation as CEO of Vulcan Blockchain. In addition to stepping down from Vulcan, Legend announced that he would permanently step away from his new project, SafuuGo.
Instead of allowing SafuuGo to wither and die, Legend humbly accepted his limitations and gave the project to the SafuuGo community so it could continue. He granted SafuuGo to a council of dedicated members, which converted the project into a Decentralized Autonomous Organization.
It was a sudden decision that wasn’t without controversy, but Legend felt it was best to place the future of SafuuGo into the hands of the community, which created a DAO. Legend admits he’s experienced mental health struggles that have made it impossible to continue with his ambitious crypto projects. “The past weeks, I have been going through mental struggles,” he tweeted. “It was only right and the best move for me to resign and to sacrifice myself for the greater good.”
However, Legend acknowledges that his departure was anything but smooth. “Could I have done things better and resigned with a more softened approach? Yes. In hindsight, I was emotionally compromised and did things in haste,” he explained.
In light of his resignation, Legend aims to set the record straight about the nature of SafuuGo, how SafuuGo will function going forward, and what its users can expect from the newly established DAO.
Bryan Legend Addresses SafuuGo Concerns
In February 2022, Legend and his team created a new project called the Sustainable Asset Funds for Universal Users, or Safuu. This protocol made it possible to accrue interest every 15 minutes, generating an incredible 383% annual percentage yield at a time when most cryptocurrencies were struggling.
In mid-2023, the Safuu team embraced version 2.0 of Safuu: SafuuGo. This new, improved version of Safuu incorporated artificial intelligence-powered features into its protocol, making it the first AI smart contract protocol in the world. Although he decided to step down, Bryan Legend understood the importance of SafuuGo for the crypto community. In an effort to keep the project alive, he allowed it to become a community-driven DAO.
Any abrupt change in leadership in crypto often leads to panic and the spread of misinformation. Legend set the record straight, explaining that SafuuGo has always been legitimate and uses legal methods to increase its value. “The recycling of money entering in and out throughout the market by way of multiple transactions is the way markets work and have always worked,” he posted on Twitter. “$SAFUU trading fees had both an inflow and an outflow, with the majority of profit being awarded to investors of the token. The market-making efforts I used only benefited holders and traders.”
SafuuGo’s Transformation Into a DAO
Instead of allowing SafuuGo to burn out, Bryan Legend worked with several SafuuGo community members to convert it into a democratic DAO.
A DAO is a completely independent organization that operates online through community consensus instead of through a single leader or founder. Instead of people making decisions, predetermined rules in the protocol, which are stored within the blockchain, make them. However, members of a DAO (and, in this case, $SGO token holders) can vote on changes to these rules to create a truly democratic, decentralized platform powered by the will of the members.
While there are benefits to having a single leader in place, there are numerous benefits to a DAO. The system allows for democratic decisions that give users total control over the protocol. The transparency of the blockchain and the efficiency of the predetermined rules make a DAO the best choice for continuing the legacy of SafuuGo.
With Bryan Legend stepping down, a council will oversee the operations of the SafuuGo DAO, which includes users named Mydisguise, Magus Tenebrae, and WenMOON. This new council will act in the best interests of the user community, acting as leaders to facilitate collaborative decisions.
To support the future growth of SafuuGo, the council created a MultiSig wallet to securely route resources to the DAO. In a show of good faith and his commitment to a smooth transition of power, Brayn Legend transferred $150,000 to the new community-owned MultiSig wallet, effectively making SafuuGo a DAO with a single transaction. The MultiSig wallet is available at this address: 0x5FB605d6afA2EefBee232913414A3C258957D952.
In addition to the transfer of financial resources, Bryan Legend also transferred the SafuuGo contract to the council to ensure the protocol remains stable. At present, the DAO is now in control of the fully developed SafuuGo protocol. The newly formed DAO is also in charge of development; business decisions like payments, lifecycle, and partnerships; marketing; support; and the SafuuGo Discord and Telegram platforms.
The Future of SafuuGo
As difficult as it was to part ways with his life’s work, Bryan Legend’s departure opened up a new chapter for the SafuuGo community, which will now retain total control over the protocol. By transferring both resources and the contract to the community, Legend offered generous support to set SafuuGo up for success going forward.
While changes are still occurring, the SafuuGo council encourages users to stand together as they build a new future for the SafuuGo community. Their goal is to strengthen the community and create a truly democratic system that fosters both collaboration and innovation. The council is now equipped to continue the ambitious plans Bryan Legend set forth when he created the first version of Safuu in 2022. Follow the SafuuGo Medium account for more updates on changes to the DAO.
As for Bryan Legend, he plans to take time away from his work in the crypto space to recover. As an experienced entrepreneur, it’s unlikely he’ll be down for long, but he plans to take an indefinite hiatus from the demands of the constantly shifting crypto space.
Legend knows DeFi has the potential to change the future of finance. He made incredible strides for the crypto community as an innovator and leader. However, for the foreseeable future, Legend is taking a step back from the bleeding edge of crypto innovation. “I will be stepping away from crypto for a while now whilst I regain my mental sanity,” he said.