Time for some more updates from the SaffronCoin developers. SFRDirect testing is still underway, and after fixing some annoying little bugs, the project is right on track again. Integration of the decentralized exchange is currently being tested as well, and SFRPay has been temporarily closed due to a Paypal issue.
One of the issue appeared as cSFR was being sent to an incorrect address. The reason for this was an incorrect minimum treshold in satoshi value. After fixing that nasty little bug, and re-testing the system, all cSFR will now be sent to the correct addresses. (A correct address can be any address present in your SFRDirect wallet.)
A neat feature of SFRDirect is when you send cSFR to an address not present in your SFRDirect wallet, that receiving address will receive a small amount of SaffronCoin. In the event of this ever happening, you can simply sweep that address , as we mentioned in our previous article.
Some readers might be wondering what to do with this cSFR once you burned your SFR to get it. Well, you can create your very own asset currency, trade it for either SFR or cSFR, play games on the SFRDirect protocol, or even place some bets!
Creating an asset costs 90 cSFR, and when you burn 1 SaffronCoin, you will receive between 85 and 100 cSFR. It is also interesting to note that once PeerMarket has launched, users are able to use cSFR to buy stuff there as well.
As I just mentioned, SFRPay is currently unavailable due to an issue with Paypal. The entire SFRPay wallet has been emptied out due to some big purchases, totalling 390,000 SFR. This resulted in a few people not being able to redeem their SFR vouchers.
That issue led to a few people asking for a Paypal refund, because they could not obtain the SaffronCoin they purchased. As Paypal does in the case of multiple complaints being issued, they locked the merchant account , and the matter is currently under investigation. Hopefully, we will see a positive result in the next 72 hours.
With over US$1,400 being locked in the Paypal merchant wallet, no SFR can be bought back from exchanges at this point, as the funds cannot be withdrawn either. In the event of these issues happening again in the future, the SFR developers kindly ask users to contact them via email instead of immediately asking for a refund through Paypal.