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. How Many SafeMoon (SAFEMOON) Coins Are There in Circulation? Want to keep track of SafeMoon prices live? Download the CoinMarketCap mobile app!ĭiscover the latest crypto insights, news and trading analysis with CoinMarketCap Alexandria. Related Pages:Ĭheck out PancakeSwap, the popular decentralized exchange on Binance Smart Chain. SafeMoon’s manual burn strategy also helps SafeMoon token holders in the long term, according to their white paper. SafeMoon’s Automatic LP also adds stability to the protocol by providing a price floor/cushion for token holders. As well, the white paper notes that their “reflect mechanism” adds incentive for SafeMoon holders to keep their tokens for longer, or HODL. 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. 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. John Karony is the CEO at SafeMoon, according to his Twitter profile. 8, 2021 with a SafeMoon price of $0.0000000010 and supply of 777 trillion SafeMoon tokens. SafeMoon protocol has an ambitious roadmap thanks to its growing popularity and they wish to be listed on the leading exchanges, launch a decentralized exchange (DEX), and increase their partnerships by the end of 2021. SafeMooon Protocol will be expanding to include an NFT marketplace and coin launchpad which will allow users to create their own cryptocurrencies via the platform. SafeMoon protocol will gain value over time thanks to its coin-burning strategy, making it a deflationary digital currency. This can be up to an 80% APY, which is staggering when compared to traditional interest accounts. With SafeMoon protocol, token holders will earn more SAFEMOON depending on how many coins they have. According to an article, SafeMoon plans to develop a non-fungible token ( NFT) exchange, as well as charity projects and crypto educational apps. SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition and Burn. SafeMoon Protocol is a decentralized finance (DeFi) token.
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