![]() ![]() Critics have noted that beyond promising to “moon” the value of its token, SafeMoon does not seem to offer much of a use case.Īn article published in Money Morning argued that SafeMoon’s price was “destined to collapse,” and would likely wipe out the money of anyone left holding the bag. While SafeMoon has attracted positive community attention, the project has not been so fortunate with crypto experts and the press. The account boasts over 445,00 followers, more than Solana ( SOL) and Filecoin ( FIL) combined. The project’s Twitter is regularly abuzz with new announcements and slick marketing content. SafeMoon has one of the strongest social media presences in the crypto space, especially for such an unestablished token. In fact, by April 20, it had become the most-searched cryptocurrency for three days in a row on CoinMarketCap. The SafeMoon project has caused waves since its release, capturing the imagination and suspicions of many in the crypto community. In principle, the automatic liquidity protocol prevents huge dips when early investors sell off their positions, thereby protecting holders and newer investors from the worst of price fluctuations. Through this mechanism, SafeMoon aims to provide a solid price floor with a degree of arbitrage resistance. 2.5% is paired with the BNB to serve as a liquidity pairon the PancakeSwapdecentralized exchange (DEX).2.5% is automatically converted into BNB.For every transaction, the SafeMoon smart contract charges a 10% fee, which is then divided as follows: Automatic liquidity protocol: In contrast to most burning mechanisms that provide shorter-term benefits for holders, SafeMoon’s automatic liquidity protocol is designed to create long-term stability.In an effort to mitigate concerns regarding transparency, the token displays a public burn tracker on its homepage. ![]() The team says this lets them better control circulation in a manner that rewards holders. The SafeMoon burning mechanism is manually controlled, meaning that it can be switched off and modified at any time. SafeMoon’s whitepaper argues that the infinite and uncontrollable nature of automatic burning can hurt holders in the long run. This method has advantages in security, trust, and reliability, but can never be shut off.
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