SafeMoon Ticker. Wondering about the SafeMoon, it’s still a wonder that a lot of people still don’t know about this platform. SafeMoon burst onto the Cryptocurrency marketplace earlier this year – and now the digital coin is seeing further gains.
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’s unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.
Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade – for which there are penalties in place. It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the Cryptocurrency.
What Is the Ticker Symbol for SafeMoon?
SafeMoon Protocol is a decentralized finance (DeFi) token. The protocol launched in March 2021 and has already more than 1 million users. SafeMoon stands for “Safely to the Moon”, a phrase that was adopted by Redditors about DogeCoin which refers to the price going upwards “as high as the Moon”.
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition, and Burn. SafeMoon plans to develop a non-fungible token NFT exchange, as well as charity projects and crypto educational apps.
Will SafeMoon Be Listed On Coinbase
Due to its newness on the market, little is known about the US-based SafeMoon. Its website carries the slogan ‘Safely to the Moon’ – a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.
Why Has SafeMoon Dropped
SafeMoon has dropped in value in the last 24 hours, along with a number of other cryptocurrencies. The drop in value of crypto currencies follows the news China has banned financial institutions and payment companies from providing services related to Cryptocurrency transactions.
This lack of regulation means its transaction costs are less – making it an attractive tool or investment for people to move digital money around the world.
Does SafeMoon Have a Cap
The current CoinMarketCap ranking is #206, with a live market cap of $1,761,631,326 USD. SAFEMOON is the new Cryptocurrency of choice for people looking to dip their toes into the world of digital currencies. But can you buy SafeMoon on Coinbase?
In theory, this will operate like a turbocharged share buyback program. If all goes according to plan, owners of SafeMoon will see their ownership stakes increase over time as the exit fee is incrementally redistributed to remaining token-holders.
Meanwhile, the burn – which functions like a stock buyback program – will decrease the overall amount of existing SafeMoon tokens over time. You can get more details here.