SafeMoon Price (SAFEMOON) - News Boss

What is SafeMoon (SAFEMOON)?

The SafeMoon protocol is a decentralized finance (DeFi) token. According to the SafeMoon website, SafeMoon has three functions that take place in each transaction: Fixed Reward, LP Procurement (liquidity provider) and Burn.

The SafeMoon protocol is a combination of the RFI token economics model and the automatic liquidity generation protocol. According to an article, SafeMoon intends to develop a unique token exchange (NFT), as well as charity projects and educational apps about cryptocurrency.

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SafeMoon launches on March 8, 2021.

Who is the founder of SafeMoon?

John Karony is the CEO of SafeMoon, according to his Twitter profile.

What makes SafeMoon unique?

SafeMoon stated in the white paper that one major problem in the emerging DeFi industry is the existence of APY LP farms that are difficult for new entrants to access.

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With SafeMoon, they intend to use the idea of a fixed reward (set reward conditions based on the volume of tokens traded) to remove the pressure on tokens that can occur when tokens are sold. Additionally, the white paper states that their “fixed reward mechanism” provides an incentive for SafeMoon holders to hold tokens longer, or HODL. SafeMoon's automated liquidity provider also reinforces the stability of the protocol by providing a floor/buffer price for token holders. SafeMoon's manual burning strategy also helps SafeMoon token holders in the long run, according to their white paper.

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How many SafeMoon (SAFEMOON) coins are in circulation?

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SafeMoon white paper says: total supply is 1,000,000,000,000,000 with 223,000,000,000,000 tokens burned and 777,000,000,000,000 coins launched.

The SafeMoon protocol, according to the white paper, works like this: each transaction is charged a 10% fee, which is divided into two parts. While 5% of the fees will be redistributed to token holders at that point, the remaining 5% is then further split, 50% is contractually sold into BNB and the remaining 50% is automatically distributed. pair with the above BNB coin and add to PancakeSwap as a liquidity pair.

How secure is the SafeMoon network?

SafeMoon's white paper plans to protect the security of the protocol as follows: programmer burned all tokens in Dev Wallet prior to launch, DxSale fair launch event, liquidity provider will be lost locked on DxLocker for four years and one LP will be generated with each transaction and locked on PancakeSwap.