The cryptocurrency market is growing in the world and many people are willing to be a part of this industry. Many crypto coins and tokens have changed the life of their investors overnight. Today we are going to discuss such a token SafeMoon. This token has already given huge profits to its investors.
What is SafeMoon Protocol?
SafeMoon was launched on 8 March 2021 at an initial price of $0.0000000010 and a supply of 777 trillion SafeMoon tokens.
According to the SafeMoon website, Safemoon Protocol is a decentralized finance (DeFi) token. It has four functions that take place during each SafeMoon trade; Reflection, LP Acquisition, Token Burn, and Growth Fund.
Four functions of SafeMoon during Trade:
- Reflection: 4% is Redistributed to all existing holders
- LP Acquisition: 3% is added to liquidity
- Token Burn: 2% of tokens are burned
- Growth Fund: 1% is added to the SafeMoon Ecosystem Growth Fund
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. They are also planning to develop a non-fungible (NFT) exchange, which is a revolutionary new idea to bring tokenomics to all of the cryptos on its platform. They will call this NFT exchange Cryptonomics.
SafeMoon protocol also offers rewards for its holders. The holders will earn up to 80% APY rewards depending on their holdings.
Related Article: What Is QuickSwap (QUICK) Token? How To Use QuickSwap?
Who Are the Founders of SafeMoon?
SafeMoon protocol was founded by Video Game Enthusiast John Karony.
What Makes SafeMoon Protocol Unique?
The thing that makes SafeMoon unique is its working model. According to SafeMoon’s white paper, they found a big issue in the emerging DeFi industry, the existence of high APY LP farms that don’t have easy access for newcomers to the space.
SafeMoon uses the idea of static rewards in order to remove any pressure on the token that could occur during the transactions. Its “reflect mechanism” also provides the incentive for token holders for a longer time.
Its Automatic LP and manual burn strategy also help SafeMoon token holders in the long term. These things make it unique among others.
SafeMoon Token Market Cap, Total Supply, and Current Price
|Token Name||SafeMoon Protocol (SAFEMOON)|
|Circulating Supply||585,536.37B SAFEMOON|
|SAFEMOON Token Price||$0.000001701 (16 January 2022)|
|Ethereum Contracts Address||0x16631e53c20fd2670027c6d53efe2642929b285c (Ethereum)|
SafeMoon Token Price Prediction 2022
SAFEMOON is the official token of SafeMoon Protocol and the DeFi is getting more popularity due to its four functions model. According to Coinmarketcap data, the current price of the SAFEMOON token is $0.000001701 and at the time of launch, its price was $0.0000000010. Its All-Time High (ATH) price was $0.00001194 on 21 April 2021. As compared to its ATH its current price is very low and if we see its popularity and uses of this token its price may touch burn more zeros during market pump.
How Can You Buy SAFEMOON Token?
If you want to buy the SAFEMOON tokens then you have to follow the below steps:
- Create a Wallet: First you need to download the SafeMoon wallet and follow the steps to make your wallet. You need to keep the 12-word seed phrase a secret after creating the wallet.
- Purchase BNB: Then you need to purchase BNB using MoonPay widget on the SafeMoon wallet.
- Swap BNB for SafeMoon: After purchasing BNB you can swap BNB with SafeMoon using swap button. You also need to ensure the slippage is at 12% and that Smart Chain (BNB) is in the top slot, and SafeMoon is in the botton slot. Then click swap!
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.