What is SafeMoon (SAFEMOON) | What is SAFEMOON token | How to Buy SAFEMOON token
In this article, we’ll discuss information about the SafeMoon project, SAFEMOON token and How to Buy SAFEMOON token
What Is SafeMoon (SAFEMOON)?
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. 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 Protocol
Static Rewards, LP Acquisition, Manual Burn
A common misconception with the heavy APY average is the subjectivity of the impermanent loss from staking an LP (liquidity provider) in a farming reward generator. With the explosion of DeFi we have seen too many new cryptocurrency prospectors get sucked into a high APY LP-farming trap, feeling hopeless as they are pushed out by earlier buyers with higher staking rewards. We’ve all been there, seeing those shiny 6 digit figures can be pretty damn tempting to jump in. However, almost always the token suffers from the inevitable valuation bubble, which is then followed by the burst and the impending collapse of the price. This Is why we have seen the mass adoption of static rewards, also known as reflection, a separate concept that seeks to eliminate the troubles caused by farming rewards.
Why Static?
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.
Manual Burns
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 SAFEMOON 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.
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. All of this is an effort to alleviate some of the troubles we have seen with the current DeFi reflection tokens. We are confident that this model and protocol will prevail over the outdated reflection tokens for these reasons
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 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.
Tokenomics
Total Supply: 1,000,000,000,000,000
Burned Dev Tokens: 223,000,000,000,000
Fair Launch Supply: 777,000,000,000,000
SafeMoon Protocol
SafeMoon employs 3 simple functions: Reflection + LP acquisition + Burn In each trade, the transaction is taxed a 10% fee, which is split 2 ways.
- 5% fee = redistributed to all existing holders
- 5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
Safety
Step by step plan to ensure 100% safety.
Step 1
Dev burned all tokens in Dev Wallet prior to launch
Step 2
Fair launch on DxSale
Step 3
LP locked on DxLocker for 4 years
Step 4
LP generated with every trade and locked on Pancake
Road Map
Q1 2021
Protocol Initialized
We have successfully onboarded and confirmed a DogeCoin trading pair with Bibipom. We have also successfully begun integration process with WhiteBit [Imminent] and began legal paperwork with Bitmart. Our team size has doubled and our marketing campaign has begun.
Q2 2021
The Initial Push
The Whitebit tokenomics integration will be completed along with the completion of the SafeMoon App, Wallet, and Game(s). The Bitmart integration with tokenomics will also be completed in this quarter. We will begin architecting the NFT Exchange as well as video-game integrations. We will be integrating SafeMoon with African Markets in addition to setting up a Charity drive and charity vote. We will be exploring other exchanges (i.e. Binance) and begin architecting the SafeMoon Exchange. We will be expanding the team by 35% and establish a UK/Ireland office. We will be architecting a crypto educational app as well as onboarding new partners.
Q3 2021
Holding the Line
We will finish our crypto educational app and begin our own charity project. We will begin a community listing donation raise for several exchanges (i.e. Coinbase, Binance, Kraken). We will finish our NFT exchange and release our first video game with SafeMoon integrated. We will be expanding the team by 25% and do a community meetup (pending covid restrictions). We will also be integrating with other large exchanges (I.e. Binance, Mandala).
Q4 2021
To the Moon!
We will finish the SafeMoon Exchange and our charity project. We will finish integrations with our first African market and begin the next integrations with additional African markets. We will create an African based SafeMoon Office and begin hiring in those markets to create jobs. We will be taking donations for our next charity project and begin a vote on the next project as well. We will be establishing a SafeMoon Scholarship in this quarter as well.
How and Where to Buy SAFEMOON token ?
SAFEMOON token is now live on the Binance mainnet. The token address for SAFEMOON is 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Pancakeswap Decentralized Exchange, use Metamask wallet or Trust Wallet
☞What is Metamask wallet | How to Create a wallet and Use
☞What is Trust Wallet | How to Create a wallet and Use
How to buy SAFEMOON with METAMASK (Simple) | How to Sell | Next 1000% Gain Coin
Next step
Connect Pancakeswap Decentralized Exchange and Buy SAFEMOON token
Contract: 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
The top exchange for trading in SAFEMOON token is currently PancakeSwap, MXC.COM, Gate.io, WhiteBIT, and BitMart
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once SAFEMOON gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information SAFEMOON
☞ Website ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
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