A few weeks ago, a project was launched that has set unprecedented records in the cryptocurrency space, surpassing 250,000 token holders and appearing in trending searches in many countries around the world. We are talking about SafeMoon Protocol and their token: SafeMoon! This is a token launched on Binance Smart Chain that has a very high supply but still had a fair launch, with no team members or presalers ready to dump their tokens on unsuspecting token holders! Let’s take a closer look at what SafeMoon is and why the public likes it so much!
SafeMoon – what is it?
The SafeMoon project is first and foremost community-driven, and its distribution has been fair to everyone. This is thanks to the initial mega-burn of all the tokens belonging to the team, who had to buy the tokens in the presale phase and pay the same price as all the other token holders.
SafeMoon also introduces the Automatic LP function, which is a feature where there is a transaction fee that increases the liquidity on PancakeSwap on a daily basis. How? Every time you buy, sell or transfer your SAFEMOON tokens, a 10% fee is applied and is divided as follows: 5% of the tokens are redistributed among the various token holders (passive income) while the remaining 5% increases liquidity. 2.5% of the tokens automatically buy BNB in order to contribute to the BNB-SAFEMOON pool. In this way liquidity is constantly increasing and will help the token to avoid large dumps even when there are large sales. At the moment it seems to me that liquidity is close to 50 million dollars! There is one other very important thing to specify: liquidity is locked and nobody can unlock it!
Occasionally the team also does some token burns, though these are not automatic but manual. The controlled burns are designed for the benefit of the project and seem to work better at the moment, as the SafeMoon project has gone viral with hundreds of thousands of fans worldwide. Many well-known people have also started talking about SafeMoon, helping it to appear frequently in trending searches on Google, Twitter and other social media (yesterday it was trending in the UK… not just in crypto but in the mainstream!).
In the whitepaper, we can read about several projects to improve the SafeMoon ecosystem, but the main function should be the SafeMoon exchange, an innovative exchange that should arrive in the coming weeks. The team has been coordinating with the various token holders to push listing requests on various other exchanges, gaining the approval of some already in these first weeks. Who knows where this project will go!
The SafeMoon token
The SafeMoon token has been generated in no less than 100 trillion units. As mentioned at the beginning, however, the team burned their tokens early on, burning 23,3 trillion SafeMoon tokens. Today’s price per token is $0.00000119, with a market cap of over a billion dollars. It has been a crazy climb and is giving huge gains to those who believed in the project from the start. Volumes are also very high and there have been 44 million dollars traded in the last 24 hours alone! The increase in the last 14 days is 800%, all thanks to a very strong community and non-stop growth.
Will the SafeMoon token break new records?