SafeMoon Protocol is a decentralized finance (DeFi) token. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition and Burn. The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, and Burn.
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. According to an article, SafeMoon plans to develop a non-fungible token (NFT) exchange, as well as charity projects and crypto educational apps.
The SafeMoon white paper notes that a big problem in the emerging DeFi industry is the existence of high APY LP-farms that don’t have easy access for newcomers to the space. With SafeMoon, they aim to use the idea of static rewards (making the reward conditional upon the volume of the token being traded) in order to remove any pressure on the token that could occur when tokens are sold.
As well, the white paper notes that their “reflect mechanism“ adds incentive for SafeMoon holders to keep their tokens for longer, or HODL. SafeMoon’s Automatic LP also adds stability to the protocol by providing a price floor/cushion for token holders. SafeMoon’s manual burn strategy also helps SafeMoon token holders in the long term, according to their white paper.
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
Community driven & fair launch. The dev team burned all of their tokens and participated with everyone else.
Every trade contributes towards automatically generating liquidity that goes into multiple pools used by exchanges
RFI Static Rewards
Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.
How Many SafeMoon (SAFEMOON) Coins Are There in Circulation?
The SafeMoon white paper describes the following: a total supply of 1,000,000,000,000,000, with 223,000,000,000,000 burned dev tokens and a fair launch supply of 777,000,000,000,000,
The SafeMoon protocol, according to the white paper, works in the following way: in each trade, the transaction is taxed with a fee of 10%, which is cut in half. While 5% of the fee is redistributed to all of the token holders at the time, the other 5% is then split in half again, with 50% sold by the contract into BNB, and the remaining 50% automatically paired with the aforementioned BNB and added to PancakeSwap as a liquidity pair.
The live SafeMoon price today is $0.000004 USD with a 24-hour trading volume of $13,000,406 USD. SafeMoon is down 0.15% in the last 24 hours. The current CoinMarketCap ranking is #204, with a live market cap of $2,311,125,553 USD. It has a circulating supply of 585,536,366,402,812 SAFEMOON coins and the max. supply is not available.
Automatic Liquidity Pool (LP)
Automatic LP is the secret sauce of SAFEMOON. Here we have a function that acts as a two-fold beneficial implementation for holders. First, the contract sucks up tokens from sellers and buyers alike, and adds them to the LP creating a solid price floor.
Second, the penalty acts as an arbitrage resistant mechanism that secures the volume of SAFEMOON as a reward for the holders. In theory, the added LP creates a stability from the supplied LP by adding the tax to the overall liquidity of the token, thus increasing the tokens overall LP and supporting the price floor of the token. This is different from the burn function of other reflection tokens which is only beneficial in the short term from the granted reduction of supply.
As the SAFEMOON token LP increases, the price stability mirrors this function with the benefit of a solid price floor and cushion for holders. The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much as if there was no automatic LP function.
A secure place to store and trade your Safemoon. Some features include Simplex integration, dark mode, contacts list, hold to cancel, and haptic feedback.
The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on it’s platform. They call this Cryptonomics.
A hardware “cold” wallet for safely storing and using your crypto. Meant as a better replacement with more features than competitors, and military grade encryption. Coming Soon
How Is the SafeMoon Network Secured?
The SafeMoon white paper has the following plan for the safety of its protocol: the developer burned all tokens in the Dev Wallet before launch, there was a fair launch on DxSale, the LP is locked on DxLocker for four year, and an LP is generated with every trade and locked on PancakeSwap.
Static rewards solve a host of problems. First, the reward amount is conditional upon the volume of the token being traded. This mechanism aims to alleviate some of the downward sell pressure put on the token caused by earlier adopters selling their tokens after farming crazy high APY’s. Second, the reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentages carried out and dependant upon the total tokens held by the owner.
Sometimes burns matter; sometimes they don’t. A continuous burn on any one protocol can be nice in the early days, however, this means the burn cannot be finite or controlled in any way. Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed. The conditions of the manual burn and the amounts can be advertised and tracked.
SafeMoon aims to implement a burn strategy that is beneficial and rewarding for those engaged for the long term. Furthermore, the total number of burned is featured on our readout located on the website which allows for further transparency in identifying the current circulating supply at any given point of time.
Where Can You Buy SafeMoon (SAFEMOON)?
As of April 2021, you can purchase SafeMoon on PancakeSwap and BitMart.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.