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SafeMoon

SAFEMOON

2.9

Price
$0.00000052
10/3/2022, 4:00:02 PM
diamondHands

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Market

Market stats

Market cap

$290.7M

Volume (24h)

$1,707.56

Circulating supply

562.0T SAFEMOON

All time high

$7.97

Price change (1h)

+0.09%

Price change (24h)

-4.01%

Price change (7d)

+5.34%

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SafeMoon is on the rise this week.

The price of SafeMoon has risen by 5.34% in the past 7 days. The price declined by 4.01% in the last 24 hours. In just the past hour, the price grew by 0.09%. The current price is $0.000001 per SAFEMOON. SafeMoon is 100.00% below the all time high of $7.97.

The current circulating supply is 562,040,746,517,665.75 SAFEMOON.

About

What Is SafeMoon (SAFEMOON)?

The SafeMoonProtocol is a fair-launched, community-focused DeFitoken. The platform is a fork of BEE combined with RFI tokenomics and an added function of auto-liquidity generating protocol. SafeMoon Protocol aims to cater to several problems related to the cryptocurrency industry, such as farming rewards, liquidity provisioning, and mining rewards. As a solution to these problems, the platform seeks to benefit the community within the decentralized venue. According to the SafeMoon whitepaper, the platform provides solutions to the subsequent problems:

  1. Automated Liquidity Acquisition

Liquidity is vital for any trading environment. Historically, market makers (increase the liquidity and accessibility) provide a service on traditional order book exchanges for buyers and sellers for a better user experience. Mainly, the market makers reduce the overall market volatility caused by large orders. However, traditional order books have been replaced by liquidity pools in a decentralized venue. Just like the compensation of the market makers in the order book environment, proper incentives for adding liquidity are essential in any decentralized environment. Without an incentive for the liquidity pool providers, problems arise in the environment. These problems occur after the token pair is subjected to impermanent loss from arbitrage.

As a solution to the problem, liquidity can be taken as a smart contract function using market activity from swaps and transfers. With this, the platform aims to capture a portion of these transfers and swaps by the smart contract and utilize the function “SwapAndLiquify.” Further, the liquidity is managed by the contract, thereby alleviating the users from having any impermanent loss scenarios. Large liquidity pools decrease the swap volatility impacts against the overall available supply. Hence, as the token matures, the auto-liquidity can be attributed to market stability capable of absorbing large market activity.Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

2. Token Reflection

Traditional mining is both inconvenient and costly for the user. The static reflection rewards accrue by holding the tokens and feature an innovative hold-farming reward structure. This structure stands apart from conventional pool-farming rewards. The main reason behind this function is to eliminate token dependencies, including:

  • External website interfaces

  • Pooling funds in unverified third-party smart contracts 

  • Transaction fees required to claim rewards 

As a solution, the platform aims to put forward the idea of a compounding reward structure that requires no additional fees. This is also known as token reflections. To achieve this, users must be paid rewards in the form of tokens without any additional cost or impact to the user. Keeping in mind the 5% static rate of reflection, the market activity volume directly impacts the token reflection quantity based on the user's token percentage relative to the overall supply. With the enabling of the “ExcludeFromReward” function for individual addresses, accounts such as DApps, hot wallets, exchanges, etc. can be excluded from token reflection, thus granting more rewards to individual holders. Overall, SafeMoon aims to provide an alternative to allow users to participate in a smart contract token reflection to produce tokens inside their wallets.

3. Depreciating Supply and Burn Address 

In a decentralized smart chain environment, token scarcity can be achieved by utilizing contract functions. The platform proposes a reward distribution method to the burn address, which is publicly verifiable for all participants to see. The platform also aims to track the depreciating supply in real time for added transparency. 

SafeMoon aims to establish a baseline token burn rate for which the values are dependent on three factors: token quantity, reflection rate, and market volume. In each holder’s wallet address, the rate of reflection rewards is proportional to the total supply. The quantity of tokens absorbed into the burn address and the increasing scarcity of tokens affect the platform’s calculations. These features have synergistic effects, further stabilizing the burn rate into the future. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means that the tokens are lost forever. Tokens are usually burned to reduce availability and increase market value. 

History of SafeMoon (SAFEMOON)

John Karony is the CEO of SafeMoon. Charles Karony is the VP of operations and received his bachelor’s degree in financial economics from Brigham Young University.

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FAQ

What is the current price of SafeMoon?

The price of 1 SafeMoon currently costs $0.00000052.

What is the market cap of SafeMoon?

The current market cap of SafeMoon is $290.68M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of SafeMoon?

The all-time high of SafeMoon is $7.97. This all-time high is highest price paid for SafeMoon since it was launched.

What is the 24 hour trading volume of SafeMoon?

Over the last 24 hours, the trading volume of SafeMoon is $1.71K.

What other assets are similar to SafeMoon?

Assets that have a similar market cap to SafeMoon include IoTeX (ERC-20), Counos X, Arweave, and many others. To see a full list, see our comparable market cap assets.

How many SafeMoon are there?

The current circulating supply of SafeMoon is 562 trillion.

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