As an additional feature, it promotes buying and holding its token rather than speculating to drive up the price. SafeMoon was created to address the issue of impermanent loss. SafeMoon has already burned nearly half its supply. In the short time SafeMoon has been in existence, it has added nearly 2.5 million users to its protocol while burning over 40% of the total token supply. It was launched on March 8, 2021, in a fair launch where the devs burned all their tokens and participated in the coin offering just like everyone else. SafeMoon is an altcoin created on the Binance Smart Chain. That said, maybe you’re just here because you’ve heard the hype over SafeMoon and just want to learn more about what it is and what problem it solves. So make sure you never invest more than you are able to lose and be sure to do your research and due diligence before making any investment. New projects like this can create new fortunes almost overnight, but they can just as easily crash and burn. Remember that cryptocurrencies are inherently risky investments, even the oldest and most stable. If you are considering adding SAFEMOON to your holdings, then read on and be sure to take your grain of salt. With the prospect of infinitely increasing token generation (so long as you don’t sell), and with a price that’s jumped thousands of percent in just under three months, and a unique take on rewarding investors, it’s no wonder the project has attracted a good deal of attention.Ĭhances are it’s caught your attention too, which is why you’re here. Remember, getting to the moon takes time, and the longer you hold, the more tokens you pick up. As it says on the SafeMoon Facebook page: The development team hopes this approach will help cryptocurrencies move away from the wild west perception they currently have. That is to follow a buy and hold philosophy, where those who hold the longest receive the greatest rewards. In some respects, it seems like SafeMoon is following the same approach to cryptocurrencies that value investors like Warren Buffet and Charlie Munger take to stocks. It’s also quite unusual in a world of cryptocurrencies trying to reduce transaction fees to promote trading because it actually taxes sellers, thus penalizing users for trading the token. Launched on March 8, 2021, it is a BEP20 token that exists on the Binance Smart Chain. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.SafeMoon is one of the newest and fastest-growing altcoins, even in the crazy cryptocurrency market that’s seen a good number of tokens increase in value by thousands or even tens of thousands of percent in 2021. The views and opinions expressed in this article are the author’s own and do not necessarily reflect those of CoinMarketCap. This article is not intended as, and shall not be construed as, financial advice. ![]() It is important to do your own research and analysis before making any material decisions related to any of the products or services described. ![]() ![]() This article is intended to be used and must be used for informational purposes only. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. ![]() The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”).
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