What Is SafeMoon (SAFEMOON)?
SafeMoon Protocol is a decentralized finance (DeFi) token. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition and Burn.
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. According to an article, SafeMoon plans to develop a non-fungible token (NFT) exchange, as well as charity projects and crypto educational apps.
SafeMoon launched on Mar. 8, 2021.
Who Are the Founders of SafeMoon?
John Karony is the CEO at SafeMoon, according to his Twitter profile.
What Makes SafeMoon Unique?
The SafeMoon white paper notes that a big problem in the emerging DeFi industry is the existence of high APY LP-farms that don't have easy access for newcomers to the space.
With SafeMoon, they aim to use the idea of static rewards (making the reward conditional upon the volume of the token being traded) in order to remove any pressure on the token that could occur when tokens are sold. As well, the white paper notes that their “reflect mechanism“ adds incentive for SafeMoon holders to keep their tokens for longer, or HODL. SafeMoon's Automatic LP also adds stability to the protocol by providing a price floor/cushion for token holders. SafeMoon's manual burn strategy also helps SafeMoon token holders in the long term, according to their white paper.