Description
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.
Who Are the Founders of SafeMoon?
John Karony is the CEO at SafeMoon, according to his Twitter profile.
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
Market Rank
In the dynamic and ever-changing landscape of cryptocurrencies, Safemoon has established itself as a formidable player. It is currently ranked #473 in the cryptocurrency market based on its market cap. This ranking reflects the trust and confidence that the market has in Safemoon as a viable digital asset.
Buy & Sell Taxes
When trading Safemoon, it is important to consider the buy and sell taxes associated with each transaction. The buy tax for Safemoon is 1.00%, while the sell tax is 0.00%. These taxes could potentially affect your overall returns, so it's crucial to factor them into your investment strategy.
Tokenomics
The tokenomics of Safemoon consist of a total supply of 100,000,000,000,000,000 tokens, out of which 998,840,482,729,281 tokens are currently in circulation. Understanding the tokenomics is crucial for potential investors, as it sheds light on the token's distribution and availability, which can directly impact its value and demand in the market.
Wallet Support
In order to securely store your Safemoon tokens, you can use a variety of wallets such as Trust Wallet, MetaMask, SafePal, Coin98. These wallets provide a safe environment for managing and storing your digital assets. It's essential to select a wallet that supports the specific cryptocurrency and offers a high level of security, user-friendliness, and compatibility with your preferred devices.
Popular Exchanges
To buy, sell, or trade Safemoon, you can use various popular exchanges such as ArkenSwap, Trader Joe. These platforms offer a seamless experience and allow you to manage your investments in Safemoon with ease. Always remember to conduct thorough research before choosing an exchange, as the security and reliability of the platform are crucial for your digitalassets.
