The lawsuit against SafeMoon is an important lesson for cryptocurrency investors, as well as the many other DeFi products that are out there. Crypto critic Molly White, who runs the popular website web3 and Twitter account, is very much looking forward to this litigation. She says it would send a strong message to influencers engaging in pump-and-dump schemes. It would also send a strong message to investors that a deflationary token is the way to go.
SafetyMoon is a deflationary token
The SafeMoon cryptocurrency launched in 2021. Since then, it has gained immense popularity among cryptocurrency enthusiasts. In fact, SafeMoon is so successful that it has received public backing from renowned cryptocurrency investor David Portnoy. In addition to this, the team behind SafeMoon has been consistently pushing updates to the platform. Through their weekly social media campaign, #SafeMoonSundays, the developers have also been in constant contact with the community.
There is a huge market for deflationary tokens in crypto, and many deflationary coins have seen enormous gains during the last bull run. While deflationary tokenomics may be short-term beneficial, they can also cause short-term negative effects. In the past, the hype surrounding deflationary coins led to huge gains for meme coins that did little more than boost the price of a single useless cryptocurrency. SafetyMoon was an example of a deflationary token, and the coin‘s clones were able to secure huge returns for early investors.
It follows the Bitcoin model
Unlike most cryptocurrencies, Safemoom uses a seller fee to encourage new users to buy the currency. The team believes that this fee will encourage users to stay on the network. The system’s developer team manually burns tokens on a regular basis. This process has helped the price of the tokens increase by thousands of percent in less than three months. The program is certified by CertiK. Tokens in the liquidity pool are controlled by the owner’s address, and will be acquired by that address.
It has a 10% fee for selling
The cryptocurrency Safemoom was launched in March 2021 and began to climb in value after a month. Its unique features have contributed to its rise, including a 10% exit fee for token holders who decide to sell. The token’s smart contract burns half of the fee and redistributes the rest to token holders. This allows the token’s value to increase over time, despite the steep exit fee.
As a digital currency, SafeMoon has many similarities to Bitcoin and Ethereum, but has distinct differences. The SafeMoon team is attempting to solve the problems with price volatility by encouraging long-term holders to hold on to their coins. They have introduced a fee structure that rewards long-term investors by distributing a portion of the fees to existing owners. The fee structure also rewards long-term investors by reducing the incentive to sell.
It has a loyal fanbase
The Safemoom crypto token is a meme-based altcoin that has a small but devoted fanbase. The token is not available on any conventional crypto exchange, so it is exchanged for other cryptocurrencies. Safemoon is traded on the Binance Smart chain. It is also available on Trust Wallet, which makes buying the token as easy as purchasing any other crypto. However, investors should be cautious before buying Safemoon.
The founder of Safemoon, Daniel Keem, has a massive fan base on Twitter and YouTube. Keem promotes the Safemoon token relentlessly. Another prominent Safemoon fan is rapper Lil Yachty, who has 5.4 million followers on Twitter. The Safemoon token has also been featured in various mainstream publications, including Newsweek and The Scotsman.