Safemoon crypto is a blockchain-based digital currency broadly similar to Bitcoin. SafeMoon Protocol aims to solve the problems of prior cryptocurrencies including mining rewards, farming rewards, and liquidity provisioning. It also makes anyone to participate in a smart contract token reflection to produce tokens inside their own wallet. SafeMoon was brought to market in March 2021. The moto of SafeMoon is “Safely to the moon”, which came from the phrase “To the moon” that means “to quickly rise in price.
Safemoon Crypto Blockchain
SafeMoon crypto doesn’t tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
So the product rewards people who hold onto it instead of trading it. By doing this, it implements a 10 percent penalty tax fee.
Introduction Decentralized finance
For any token on the smart chain to have an availability to be swapped on a decentralized exchange, it must have an available liquidity pool of tokens for swapping. , developers have attempted to satisfy these conditions by using various tokenomic structures with incentives for the user to supply liquidity into the pools. An automatic liquidity acquisition can be featured as an alternative solution compared against the traditional “farming reward” structure. An automatic liquidity acquisition function where users are offered rewards (via reflection) in lieu of traditional farming rewards.
Automated Liquidity Acquisition
The main function of these market maker services was to fill buy and sell orders promptly and reduce overall market volatility caused by large orders. However, traditional order books have long been outdated by newer technology, and have been replaced by liquidity pools in a decentralized venue.The liquidity is crucial in any trading environment. By definition, decentralized liquidity is simply the accessibility of tokens operated and controlled by a smart contract.. Problems arise when the liquidity pool provider loses the incentive to add tokens into the pool, which occurs after the token pair is subjected to impermanent loss resulting from arbitrage.
- Pooling funds in unverified 3rd party smart contracts
- Transaction fees needed to claim rewards
- Traditional mining is both costly and inconvenient for the user
- Eliminate token dependencies that have created problems in the past
The quantity of token reflection based upon the percentage of tokens held by the user relative to the overall supply. With the “excludeFromReward” function enabled for individual addresses, accounts. You can refer to some CryptoExchanges like hot wallets, dapps, etc .
Depreciating Supply & Burn Address
In a decentralized environment of smart chain, contract functions can be utilized to gain token scarcity. The reflection rate of rewards is proportional to the total supply in each holder’s wallet address. It can be easily understood that these features will have positive effects that can stabilize the burning rate in near future. We find that these values are dependent on three important factors: reflection rate, token quantity, and market volume.
Safemoon Crypto Fraud Allegations
The CEO of Safemoon crypto , John Karony ( a former analyst for United Department of Defense) has been removing funds from the liquidity pool which is primary explanation of the crypto’s price pattern. He sent Smith evidence of this in the form of a blockchain transaction showing an outflow of 36.7 trillion tokens from the liquidity pool, dated March 5, 2021.
Safemoon Operation Phoenix in Gambia
According to the altcoin executives, plans for this project seem in advanced preparations as SafeMoon crypto talks with the Gambia government for approval. Karony also added that the SafeMoon community is pleased about the upcoming Operation Phoenix project in The Gambia.
SafeMoon Chief Operating Officer Jack Haines confirmed that an online video presentation of the project took place this Monday early evening. SafeMoon’s CEO John Karon said his altcoin does not intend to replace The Gambia’s Dalasi in its cryptocurrency operations. Instead, the blockchain’s primary focus is to serve as technology for innovation and learning purposes.
John Karon’s ambition is to position SafeMoon to go mainstream and increase adoption in the Gambia. The target is to gain more than 2 million users within the Gambian diaspora.
- It rewards people who hold onto it instead of trading
- It implements a 10 percent penalty tax fee.
- The developers say they are working on the integration process with WhiteBit, a crypto-to-fiat currency exchange
- of Warren Buffett’s book on investment. is essentially leafing out to buy safemoon
- SafeMoon’s CEO John Karony said his altcoin does not intend to replace The Gambia’s Dalasi in its cryptocurrency operations
Safemoon Price Prediction
It is a community-driven and fairly launched DeFi Token. According to Safemoon coin market cap price prediction, the future token projection is estimated to trade with an average price of $0.0000044, and the coin can further rise to $0.0000050 in 2025. The token is set to pick up the pace with other tokens on the exchange to clearly arrive at a price above $0.0000039.Thus ,coinmarket cap safemoon is regarding security & exciting promotional ventures may do the rest, making the buyers/sellers harvest the gains.