SafeMoon is a cryptocurrency that is operated on the Binance Smart Chain. Ever since its release last year, SafeMoon has been making headlines in the world of finance, and for a good reason. Unlike DOGECOIN, which became popular as a meme, SafeMoon’s roadmap includes many charity projects in Africa, which is a very good cause. Its roadmap includes an NFT exchange, a crypto exchange, app building, games, and wallets.
SafeMoon identifies itself as a DeFi protocol. The project’s whitepaper explains that the coin aims to encourage the owners of the tokens because the more people buy the coin, the more its price would increase, and the fewer people will be motivated to sell the coin.
The platform charges a 10% fee on sales, 5% of which is distributed among the current holders, and the remaining half is converted into BNB and is used to apply liquidity on PancakeSwap. This system is designed to reward the original token holders.
Release Date: March 2021
SafeMoon is powered by its community. It has more than one million followers on Twitter, which is huge considering it is relatively a new cryptocurrency. However, the reason why it has been so popular is that it follows the same model as Dogecoin, a currency that grew exponentially only because of the hype.
So if you are planning on investing in an up-and-coming cryptocurrency, you may want to take a look at SafeMoon. Its price has increased by 140,000% ever since its release.