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.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. SafeMoon launched on Mar. 8, 2021.
Safemoon is a deflationary crypto, but what does that mean? A deflationary crypto is a coin that is meant to decrease its volume over time, therefore increasing the value as time goes on. How does Safemoon do this? It’s simple. On every transaction (purchase and sale), there is a 10% fee. 5% of this gets redistributed to every holder while the other 5% gets permanently burned. Not only does this put more money into your wallet when others buy/sell but it also disincentives day trading and punishes those who try to manipulate pricing. The burned coins are sent to a null address that is inaccessible to anyone, even the devs, so they’re permanently removed from the market volume.
What about the developers & Who developed SafeMoon?
There are many questions as to whether this project is a scam or who has developed this SafeMoon project? The official website of SafeMoon mentions the illustrated credentials of the developer and the entire core team. Developers and team members often respond to the community on social media with future plans and development. People are constantly believing in SafeMoon project and the community is growing very fast.
What Makes SafeMoon Unique?
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.
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.
How has SafeMoon been performing ? SafeMoon Price prediction
Short answer: very well. The coin has received a ton of natural, organic growth and shows no signs of slowing down. As of writing this article, the coin is worth about $0.00000898 after a recent bull run due to a recent AMA and Ben Phillips joining the team, posting about Safemoon on his Twitter account. In the past week, the coin has increased over 800% and it hasn’t even been listed on any big exchanges yet. With over 600,000+ holders and one of, if not the, fastest growing crypto communities in the time it’s been available, it’s been showing steady increases, with large spikes followed by healthy corrections on a steady positive uptrend. Its price is likely to rise further after it is listed on the first tier exchange like Binance, Kucoin or other. Another special reason for the rise in prices is its deflationary nature. Coins will continue to decrease as the number of sales or transactions increases, which is likely to increase the price.
Read More: What is Bitcoin & How does Bitcoin work ?
How to Buy Safemoon? Where you can buy SafeMoon?
Download the Trust Wallet app or open MetaMask,
Purchase BNB or BSC or send BNB from your exchange.
Go to the DApps tab at the bottom, and find PancakeSwap. Iphone users may need to enable the trust browser, then use the browser tab.
Click “Select a currency” and enter this contract address into the search field, and you should be able to find SafeMoon.
Contract address 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
Before swapping, click on the cog wheel and set the slippage to between 11-12%
Now, set the amount you want to purchase and press the swap button.
Confirm the transaction and pay a small fee
DONE !! Safemoon Token will be add into your wallet.
Is SafeMoon listed on Binance?
Sorry if you are thinking of buying Safemoon from Binance, Because Binance hasn’t listed Safemoon yet. Are you thinking if Binance will be listing Safemoon coin? The Safemoon Coin is built on Binance smart chain and the way the community growing very fast, There is nothing to be surprised if it is listed in the future in Binance. Not only Binance but other centralize exchange like Kucoin,Okex,Hotbit,MXC,Gate. Io or others can list SafeMoon coins on their exchange keeping in mind the popularity and demand of the users.
Where Can You Buy SafeMoon?
As of April 2021, you can purchase SafeMoon on whitebit Pancake Swap and BitMart.
Safemoon Website: https://safemoon.net/
Safemoon Twitter: https://twitter.com/safemoon
Safemoon Discord: https://discord.gg/safemoonken will be added
Safemoon Twitch (Used for AMAs): https://www.twitch.tv/safemoon