Hello everybody, i want to tell you about a new BSC token safemoon, safemoon is only 8 days old but it has started to get some attention, in only those 8 days they have accomplish:
- CoinMarketCap Listing (between the big gainers today)
- BSC.News profile up
- 1400+ holders (as of right now it has almost double it to 2,274)
- 80x since launch (160x)
- Over 347T $SAFEMOON taken out of circulation forever
SafeMoon employs 3 simple functions: Reflection + LP acquisition + Manual Burns.
In each trade, the transaction is taxed a 10% fee, which is split 2 ways.
- 5% fee = redistributed to holders
- 5% fee is split 50/50 half of which is sold by the contract into BNB and paired with the remainder of the $SAFEMOON tokens and automatically
added to the liquidity pair on Pancake swap.
Reflection (static rewards)
The reflection or static rewards is a concept that seeks to eliminate the problems caused by farming rewards, as impermanent loss or simply the fact that gas required is too high, altough this last is not present in bsc at the moment. Static rewards works as follows.
- The reward amount is conditional upon the volume of the token being traded.
- The reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentages carried out and dependant upon the total tokens held by the owner.
In theory, with the burn function and a depreciating supply, even a small holder at the beginning could potentially walk away with big money.
Manual burns
A continuous burn on any protocol can be nice in the early days, but the trouble with it is the burn cannot be finite or controlled in any way. With burns controlled by the team and promoted based on achievements, this keeps the community rewarded and informed. The conditions of the manual burn and the amounts can be advertised and tracked. SafeMoon aims to implement a burn strategy that is strategic and rewarding for those engaged for the long term. Featuring the total tokens burned on the website allows the supply to be observable.
LP acquisition
This is an automated mechanism that adds more tokens to what you already have with every buy or sell of the token in pancakeswap, i have already seen how my tokens ammount has grown up during the day, this without the need to explicitly stake or provide any kind of liquidity, wich is great if you ask me!
Another important information about Safemoon you can check.
Last but not least here is the roadmap that Safemoon has been following, it seems they are doing things in time so far.
Please note this is not financial advise, i just wanted to share with you what it seems a good oportunity but DYOR, please let me know what you think. You can check all the information on https://safemoon.xyz/
Best regards!
Evedder
