SafeMoon is a blockchain protocol designed to enable a more transparent and cost-effective environment for decentralized finance (DeFi). The platform is fully decentralized and runs on the Binance Smart Chain (BSC) blockchain, with its token- SAFEMOON- that can be exchanged on exchanges for other cryptocurrencies or used as collateral in trading futures contracts.
To make it’s token deflationary, the protocol blends RFI tokenomics with an auto-liquidity generating mechanism. When a transaction is made on the protocol, three functions occur: reflection, LP acquisition, and burn. According to the SafeMoon team, the project was created to promote long-term investment. The financial structure of the cryptocurrency is unique, providing investors with an alternative way to make returns by providing them with additional tokens based on the number of coins they own.
The protocol builds on top of the Binance Smart Chain to provide users with access to global transaction speeds, instant confirmation, and minimized fees. The platform does not have its consensus algorithm but relies on Proof-of-Stake (PoS) mechanism for voting and security.
SafeMoon aims to broaden its reach by building an NFT marketplace and launchpad that will enable users to create their tokens through the platform.
Who Are the Founders of SafeMoon (SAFEMOON)?
The SafeMoon platform is led by John Karony and built to support a community-driven approach. The SAFEMOON team believes that their development of the project has been focused on making sure that the user experience is top-notch.
What is SafeMoon (SAFEMOON) Used For?
SafeMoon’s platform is designed to provide decentralized finance (DeFi) users with a way to build and launch tokens on top of the blockchain. Here are some of the platform’s uses.
Decentralized exchange (DEX)
SafeMoon has a fully functioning DEX with a user-friendly interface that allows users to swap tokens on the platform.
Staking
Users can stake their SAFEMOON to earn rewards.
Launchpad
SafeMoon aims to build a launchpad to enable users to launch their cryptocurrencies via the platform.
NFT Marketplace
The protocol aims to incorporate an NFT marketplace into its ecosystem powered by the SAFEMOON token.
What is the Unique Point of SafeMoon (SAFEMOON)?
SafeMoon provides users with decentralized finance (DeFi) to create, exchange and manage tokenized assets. The protocol includes a unique tokenomics model that is designed to encourage long-term investment. According to its whitepaper, the SAFEMOON token will be used to support the platform and act as a measure of real-time access to liquidity.
How many SafeMoon (SAFEMOON) Coins Are in Circulation?
SafeMoon has a circulating supply of 562,229.01B SAFEMOON tokens, and a total supply of 562,229.01B SAFEMOON tokens.
223,000,000,000,000 of dev tokens were burnt from an initial fair-launch supply of 777,000,000,000,000.
How is the SafeMoon Network Secured?
The protocol is built on the Binance Smart Chain (BSC) and uses the Proof-of-Stake (PoS) consensus mechanism, in which nodes are rewarded for maintaining the network.
The network also has its own security features; for instance, it was revealed that the tokens in the developers’ wallets were burned before launch, and the LP is locked for a 4-year period, with each trade generating a new LP.
How do I buy SafeMoon (SAFEMOON) Coins?
SAFEMOON can be purchased on the following cryptocurrency exchanges: PancekeSwap (v2), Decoin, Gate.io, BitMart, LBank, HotBit, BitForex, BitTrue, and more. It can be purchased by following the steps below:
* Open an account with a supported exchange or log in if already registered.
* Deposit fiat money into the account.
* Buy SAFEMOON by swapping with BTC, ETH, or stablecoins such as USDT or USDC.
SAFEMOON tokens can be traded and stored in the SafeMoon custodian wallet.
Which Cryptocurrency Wallet Supports SafeMoon (SAFEMOON)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Safemoon (SAFEMOON). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their SAFEMOON wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.
