NEW YORK, NY May 03 2021 (Blockchain Wire)
The crypto space during this bull run has truly been magical. Decentralized finance has given new meaning to trading, with automated market makers that allow frictionless peer-to-peer transactions without the use of a centralized exchange. Furthermore, the memes in the cryptoverse broke through with Elon Musk’s endorsement of the famed Dogecoin, which sparked a chain reaction that shook the industry to its core.
Although trading decentralized on a decentralized exchange is enticing and liberating, there is really no fundamental security behind them. Anyone can “create” a token, remain anonymous, and scam amateur investors who hope to win big. Some projects create elaborate scams to coax new investors to fraud them. One such tactic is a rug-pull project, which drains the liquidity allowing users to trade. This forces all trades to halt, while the owners disappear with thousands if not millions of dollars.
Many meme coins often gain traction and a popular user base through three similar tactics: deflationary tokenomics (increasing demand over time), redistribution factor (rewarding holders), and donations to third-party organizations. Yet, when it comes down to fundamentals and utility, many lack real use cases.
There are hundreds of coins that continue to enter the meme world, often carbon copies of other successful coins with slightly different features and a new name. One of the most determining factors behind the success of a coin is dependent on its marketing strategy called shilling. Although it attracts thousands of people, this also sets up the perfect scenario for the masses to lose money if and when the owners decide to pull the plug.
Ceezee (SAFU), like many meme coins, has some similarities, but the similarity is limited to only the token ticker and logo. SAFU is a BEP-20 protocol utility token that started after witnessing too many projects being rug-pulled on the Binance Smart Chain. Although the catchy name suggests Changpeng Zhao from Binance may be involved, the creators make it very clear that they are in no way affiliated with Binance or its CEO, CZ. With a meme-forefront design, it is quite easy to miss the in-depth complicated token metrics as well as the ecosystem it is striving to build.
Ceezee (SAFU) strives to tackle the difficult task of creating a safe environment for new investors to engage in the various outlets of the DeFi world. Ranging from staking, initial DEX offerings, gambling and even nonfungible tokens, SAFU is building a diverse ecosystem akin to a premium buffet — of only the best of the best. Many investors flocked to see this potential and filled one of the biggest pre-sales launched on DeFi of 4,500 Binance Coin (BNB) in three days.
One aspect of the token that stands out the most is the upcoming Rugged Charity Swap, which allows individuals who have been rug-pulled to receive a charity in the form of Ceezee’s native token, SAFU. What Ceezee is doing is unique, as it is one of the first to give back to the community of crypto investors who have lost money. Many successful meme projects, such as Neural Pepe and Fox Finance, have also joined this campaign to give back through the SAFU Rugged Charity Swap. The first official Rugged Charity Swap will be giving away $100,000 worth of SAFU tokens evenly among all successfully whitelisted candidates as well as all the donations from other projects.
It’ll be very interesting to see what’s in store for Ceezee in the future. With a meme-front, Ceezee SAFU entangles both decentralized finance and the comical edge of what this bull run has been about.