SafeMoon - a decentralized protocol for the Decentralized Finance (DeFi) market segment. It runs on the Binance Smart Chain blockchain.
Contents:
What is Safemoon?
The SafeMoon protocol is a combination of RFI tokenomics and an automatic fluid generation protocol. The platform plans to develop a non-fungible token (NFT) exchange, as well as charitable projects and crypto-educational applications. With the company protocol, token holders will earn more tokens, depending on how many coins they have.
The SafeMoon Protocol will gain value over time through its coin burn strategy, making it a deflationary digital currency.
SafeMoon
The protocol will expand to include an NFT marketplace and a coin launchpad that will allow users to create their own cryptocurrencies through the platform. It has an ambitious roadmap due to its growing popularity and they want to be listed on top exchanges, launch a decentralized exchange (DEX) and expand their partnerships by the end of 2021. SafeMoon was launched on March 8, 2021 with a supply of 777 trillion tokens.
Project features
Startup tokens differ from other cryptocurrencies in the mechanism of transactions, for which the system charges a commission of 10%. After transactions with coins, the platform distributes fees into three categories:
| Firstly |
Collaborate with projects through token exchanges and joint development efforts. The exchange of tokens will allow the BitDAO treasury to accumulate a collection of the best crypto project tokens. |
| reflection |
The system distributes 5% of the commission between users. It turns out that reflection in the project network has become a tool for generating passive income. In the White paper, developers present reflection as an analogue of mining. At the same time, technically reflection is a kind of staking. |
| LP Acquisition |
The system adds 5% of the commission to the liquidity pool, which, among other things, is designed to support the cryptocurrency rate in the event of global coin sales. |
| Burning |
The system defines the reflection part in this category. Burning coins, due to the artificial reduction in the number of tokens and the formation of a deficit, has a positive effect on the value of the cryptocurrency. |
The system automatically distributes funds, using commands pre-programmed into smart contracts. The SAFEMOON ecosystem, as conceived by the startup representatives, will consist of several key products, including an exchange, a hardware wallet for cold storage of cryptocurrencies, as well as a crypto wallet in the form of a mobile and web application. The developers managed to complete only one product - a wallet for cryptocurrencies.
Buying and selling tokens
The SafeMoon protocol works like this: every trade is taxed at a 10% fee, which is cut in half. While 5% of the fee is redistributed to all token holders at the time, the remaining 5% is halved again, with 50% being contracted to BNB and the remaining 50% automatically paired with the aforementioned BNB and added to PancakeSwap as a liquidity pair. SAFEMOON is available for trading on numerous exchange platforms, including:
- PancakeSwap (V2);
- Decoin;
- PancakeSwap;
- Gate.io;
- BitMart;
- ZBG;
- BiKi;
- LBank;
- Hoo;
- Hotbit;
- MEXC;
- Bitbns;
- Bitrue;
- WhiteBIT;
- KickEX;
- BitForex;
- BHEX;
- Jubi;
- Biswap.
Its white paper has the following security plan for their protocol: the developers burned all tokens in the Dev wallet before launch, a fair launch was on DxSale, LP is locked on DxLocker for four years, and LP is generated with each trade and locked on PancakeSwap.
