SafeMoon is a DeFi token (decentralized finance token) that offers fractional cryptocurrency trading, blockchain-based loans, and commission-free exchanges. It is built on the Ethereum network. SafeMoon has three unique functions that take place during each trade; Reflection, LP Acquisition, and Burn. These features protect smart contracts from hacks and keep the contract environment safe.
It was created at the beginning of 2021. It has gained over 1 million users from more than 190 countries.
SafeMoon is a technology that combines RFI tokenomics with an auto-liquidity generator. SafeMoon intends to launch a non-fungible token (NFT) exchange, as well as charity initiatives and crypto educational apps, according to an article.
It’s an evolution of cryptocurrencies such as Dogecoin, sharing similarities with Bitcoin but also carrying several unique features. SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of “To the moon” — SafeMoon’s slogan is “Safely to the Moon.”
Manual burns are an important, fundamental aspect of Safemoon. This implies that the Safemoon team will burn tokens on a regular basis in order to decrease the supply and increase the price.
To this date, almost 400 trillion Safemoon tokens have been burnt, including the first 223 trillion destroyed prior to the debut.
This strategy of “burning” coins, makes Safemoon deflationary and increases its value over time.
SafeMoon’s unique feature allows those who hold the token to benefit from its appreciation in value. This incentivizes long-term ownership and disincentivizes short-term trading.
SafeMoon is a cryptocurrency platform that encourages investors to HODL by offering rewards for loyalty. The SafeMoon team will charge a 10% trading fee from each DEX trade and 5% of this fee will be distributed to token holders in proportion to the number of tokens they hold.
SafeMoon is a cryptocurrency whose aim is to provide a more usable cryptocurrency for non-technical users. They are focusing on POS (Point of Sale) services, to allow merchants to accept the cryptocurrency directly without learning how to manage crypto wallets. The fees on a SafeMoon transaction are quite low.
SafeMoon is a currency that focuses on providing a meaningful use case. It’s not clear if it will be used as yet another crypto investment or if it will be purchased for something tangible and useful.
A major issue in the burgeoning DeFi business, according to the SafeMoon white paper, is the availability of high-APY LP-farms that are difficult to access for beginners. SafeMoon aims to employ the concept of static incentives (making the reward conditional on the volume of the token being exchanged) to alleviate any token pressure that may arise when tokens are sold.
Furthermore, its “reflect mechanism” incentivizes SafeMoon holders to retain their tokens for extended periods of time, or HODL. SafeMoon’s Automatic LP additionally gives stability to the system by giving token holders with a price floor/cushion. In the long run, SafeMoon token holders benefit from the manual burn method.
The team responsible for the project claims they are building a decentralized platform using blockchain technology that is set to revolutionize how payment cards and related services work through increased transparency, fraud prevention, and cost-efficiency.
Safemoon’s plan is to create a decentralized payment system that works across borders. By allowing safer, faster transactions through completely anonymous payment methods, we aim to become the leader in safe cryptocurrency payments.
The developer burnt all tokens in the Dev Wallet before launch, there was a fair launch on DxSale, the LP is locked on DxLocker for four years, and one LP is created with every transaction and locked on PancakeSwap, according to the SafeMoon white paper.
On Twitter:Tweets by Safemoon
Safemoon Reddit Forum:
Mooncoin is a token based on the NEO blockchain used by all services rendered in the Safemoon ecosystem. Through the ecosystem with different services like cryptocurrency training and others, Mooncoin will be used as a means of payment for all of the costs and products.
Mooncoin is the only cryptocurrency needed for any transactions within the Safemoon ecosystem, is used to pay for all the services rendered on the Safemoon platform. All transactions are supposedly held in a secure, decentralized system.
For now, it’s a more complex procedure than simply purchasing Bitcoin: you’ll need to purchase BinanceCoin, and then exchange it for SafeMoon. SafeMoon may be purchased through one of four crypto exchanges: PancakeSwap, BitMart, WhiteBit, and PancakeSwap.
A special SafeMoon wallet is being developed, which may make the procedure easier.
For example, to utilize PancakeSwap, you must first download a compatible wallet like Metamask, Binance Chain Wallet, or Trust Wallet app, then purchase BinanceCoins (BNB or BSC) and upload them to the wallet. Then, using the compatible wallet app of your choosing, go to PancakeSwap, select the SafeMoon page, and trade your Safemoon there.