Is Roblox safe for kids?

As a concerned parent, I'm wondering if Roblox is a SAFE platform for my children to engage in. With the rise of online gaming and the potential for cyberbullying, predators, and inappropriate content, I'm hesitant to let my kids dive into this world without proper guidance. Can you provide some insights on the safety measures Roblox has in place to protect young users? Are there any specific features or settings I should be aware of to ensure my children's safety while they're playing?