What is SafeMoon Token (SAFEMOON)?
What is SafeMoon (SAFEMOON)?
The SafeMoon protocol is a Decentralized financial token (DeFi). According to the SafeMoon website, SafeMoon has three functions that take place during each exchange: Reflection, LP Acquisition, and Burn.
The SafeMoon protocol is a combination of RFI tokenomics and an automatic liquidity generation protocol. SafeMoon plans to develop a non-fungible NFT token exchange, as well as charity projects and crypto educational applications.
SafeMoon was launched on March 8, 2021.
Static rewards, LP acquisition, manual burn
A cA common misconception with the heavy average APY is the subjectivity of the temporary loss resulting from betting an LP (liquidity provider) on an agricultural reward generator. With the DeFi explosion we have seen too many new Cryptocurrency Development seekers being sucked into a high APY LP trap, feeling desperate as they are pushed out by previous buyers with higher rewards. We’ve all been there, seeing those glowing 6-digit figures may be tempting to jump in. However, the token almost always suffers from the inevitable valuation bubble, which is then followed by the breakout and the impending price crash. This is why we have seen the mass adoption of static rewards, also known as reflection,
Static rewards solve a number of problems. First of all, the reward amount is subject to the volume of the token exchanged. This mechanism aims to alleviate some of the downward selling pressure exerted on the token caused by previous users selling their tokens after the growing APY craze.
Sometimes it burns matter; sometimes they don’t. Continuous recording in any protocol can be useful at first, however this means that burning cannot be terminated or controlled in any way. Winning for the team and promoting them based on results helps keep the community rewarded and informed. Manual recording conditions and quantities can be announced and tracked. SafeMoon aims to implement a burn strategy that is beneficial and rewarding for those who are involved in the long run. Additionally, the total number of SAFEMOON burned is reported in our readout located on the website which allows for greater transparency in identifying the supply in circulation at any given time.
Automatic liquidity pool (LP)
The automatic LP is SAFEMOON’s secret sauce. Here we have a feature that serves as a beneficial dual implementation for owners. First, the contract sucks the seller and buyer tokens in a similar way and adds them to the LP by creating a solid base price. Second, the sanction acts as an arbitrage resistance mechanism that guarantees SAFEMOON volume as a reward for holders. In theory, the added LP creates stability from the provided LP by adding the tax to the global liquidity of the token, thus increasing the overall LP of the tokens and supporting the minimum price of the token. This is different from the write function of other reflection tokens which is advantageous only in the short term of the reduction of the granted offer. As the SAFEMOON LP token rises, the price stability reflects this feature with the advantage of a solid base price and a cushion for supports. The goal here is to avoid big drops when the whales decide to sell their tokens later in the game, preventing the price from swinging as much as if there were no automatic lp feature. This is all an effort to alleviate some of the problems we’ve seen with current DeFi think tanks. What makes SafeMoon unique?
The SafeMoon white paper notes that a big problem in the emerging DeFi industry is the existence of large APY LP farms that do not have easy access for newcomers to the space.
With SafeMoon, they aim to use the idea of static rewards (conditioning the reward on the volume of the token exchanged) in order to remove any pressure on the token that could occur when tokens are sold. Additionally, the white paper notes that its “think tank” adds incentives for SafeMoon owners to keep their tokens longer, or HODL. SafeMoon’s automatic LP also adds stability to the protocol by providing a minimum price / pillow for coin holders. SafeMoon’s manual burn strategy also helps SafeMoon token holders in the long term, according to their white paper.
How is the SafeMoon network protected?
SafeMoon’s white paper has the following plan for its protocol security: the developer burned all the tokens in the development wallet before launch, there was a launch right on DxSale, the LP is stuck in DxLocker for four years, and it is generated an LP with every swap and stuck on PancakeSwap.
Total supply: 1,000,000,000,000,000
FIC has development Burned: 223.000.000.00 0. 000
Fair launch offer: 777,000,000,000,000
SafeMoon uses 3 simple functions: Reflection + LP Acquisition + Record In each transaction, the transaction is taxed at a 10% fee, divided into 2 ways.
5% commission = redistributed to all existing owners
The 5% fee is split 50/50 half of which is sold for the contract in BNB, while the other half of the SAFEMOON tokens are automatically paired with the aforementioned BNB and added as a liquidity pair in Pancake Swap.
How and where to buy the SAFEMOON token?
The SAFEMOON token is now available on the binan ce mainnet . The SAFEMOON token address is 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d 3. Be careful not to buy any other token with a smart contract other than this one (as it can be easily forged). We highly recommend being vigilant and staying safe during launch. Do not let the emotion pay you off.
Just be sure to have suficient and BNB in your wallet to cover transaction fees.
First you will have to buy one of the main cryptocurrencies, generally Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB) …
We are going to use Binance Exch ange here as it is one of the largest cryptocurrency exchanges that accepts fiat deposits.
Once the KYC process is finished. You will be asked to add a payment method. Here you can choose to provide a credit / debit card or use a bank transfer and buy one of the main cryptocurrencies, usually Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB) …