Little more utility than day trading is about as far from the future that motivates most developers of DeFi programmable money as you can get. Perhaps Andreas Antonopoulos can help raise your sights slightly higher to the sky on this one, we have trouble imagining where this paradigm shift in money will lead. I believe the Safe Network can form part of that programmable money future depending on the viability of decentralised computation on the Safe Network of course.
Safecoin as planned will be orders of magnitude more private than existing blockchain based privacy tokens. FATF has recently made it very clear that its new rules prohibit privacy tokens of all flavours (i.e. superseding all classification types) and plans to enforce the new rules on all KYC exchanges located in member nations (See references I posted on this thread). Several high profile exchanges have already complied with the new rules and similar to how the crypto KYC rollout has progressed over the last few years the rest of the centralised exchanges will probably drag their feet before shouldering the expense and also falling into line. That means no privacy tokens, travel rule only transactions and applies to Localbitcoin style OTC trading escrow services as well.
This will unfortunately with high degree of certainty exclude native Safecoin from these markets.
The ERC20 DeFi economy was up and running before these new FATF rules were created, but is already partly covered by KYC mostly where large fiat on/offramps are since it is not first and foremost a privacy token marketplace like any future Safecoin exchange will be. It is not that ERC20 decentralised exchanges will be a “secondary” market - it will IMO most probably be Safecoins only available market to indirectly exchange value with the real economy as it shields Safecoin from the FATF “no privacy tokens” and “travel rule compatible transactions only” rules.
These trends and FATF impact are discussed at length in the programmable money DeFi forums that abound in the Ethereum space where developers with similar values to this community are hard at work trying to make a better future as best they can. As the reality of the harsh new FATF rules becomes more apparent I am sure this community will be more receptive to ERC20 -Safecoin bridges and rise to the challenge of providing an onramp into the fledgling Safe Network from outside of the closed system.