SafeMoon is a DeFi token built on the Binance Smart Chain blockchain. It belongs to the class of the so-called “memcoins” together with DogeCoin (DOGE) and Shiba Inu (SHIB) and other doggy coins. However, in contrast to other regular memcoins the team behind the project has a pretty interesting strategy to increase the number of holders and keep them.
The founders of the cryptocurrency made it clear that anyone who sells a SafeMoon coin would be subject to 10% sales tax, with 5% redistributed to people who still hold their coins and the remaining 5% will be burned. So the holders get a nice bonus just for the storage. Some of the exchanges where one can buy SafeMoon include: Gate.io, ZBG, Bitrue, LBank and BitMart. You can also buy it on Pancakeswap but it will be more time-consuming as you will first need to purchase some BNB and transfer them to your Binance Smart Chain wallet.
SafeMoon wants people to keep their coins. At first, they received a fairly large fee for people selling their tokens. At the same time, there are two reductions of 5% each. The first five percent will be burned, which means that the price of the token itself will rise.There is a large community behind this project - over a million people hold the token. The team has announced initiatives to build charities and donate coins to various non-profit organizations.
Total capitalization of SafeMoon is 1,000,000,000,000,000 coins, 223,000,000,000,000 have already been burned. SafeMoon gained massive attention in the spring of 2021. SafeMoon coin value rose sharply, peaking at $0.00001375 on Tuesday evening, April 20. That’s almost 1,374,900% difference in value compared to the SafeMoon coin graph on the day of launch. However, the price of the coin did not remain this high for long and the SafeMoon stock price today is around $0.00002.
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