Intro to Safemoon
Passive income nirvana for the people?
Everyone knows that their government, no matter where you are in the world, is printing money like it’s going out of fashion and racking up huge national debts the like has not been seen since World War 2 that are only maintainable because of crazily low-interest rates. We all know at some point taxes have to rise to try and pay off these debts. House prices are in a bubble, bills are going up — most people are finding pivotal essentials are getting expensive, debt-based inflationary money creates this life treadmill for ordinary folks that just increases wealth inequality — the rich are getting richer while the rest of us seem to be working harder just to stay afloat or slow the sinking.
In the US as an example, the middle class is disappearing with a trend leading to a two-class system — Upper Income and the rest of the population. The existing system is broken for most, the financial system is at breaking point and people are looking for hope elsewhere.
Enter the dream.
The SafeMoon Protocol
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, and Burn.
If you’re into crypto, or even if you’re not, you may have heard about the meteoric rise of an upstart crypto token called SafeMoon (or SafeMoon Protocol to give it its full name).
Within 2 months of inception, this disruptive upstart has burst into the top 40 cryptos by market capitalization with over 2 million holders. It’s broken all records and become one of the fastest-growing cryptocurrencies in the world through alluring returns, good timing amid a crypto bull run, and a powerful viral marketing campaign that’s created a passionate and loyal community.
So what is it and why has it become so popular?
Crescit eundo — It grows as it goes
Imagine you own an asset (let’s call it SafeMoon), that becomes rarer and rarer over time, and therefore, in theory, value increases. Every time someone sells or buys SafeMoon, some of those SafeMoon are destroyed and some are given to you. Over time, not only should SafeMoon appreciate (because there’s less of them in circulation), but you’ll passively gain more SafeMoon. So even if the price of SafeMoon stays the same, you’re making money. This is the principle behind how SafeMoon works (or its “tokenomics’’ as it’s known). The SafeMoon community have released this video that explains the mechanism in more detail:
So SafeMoon is a hyper-deflationary currency with automated reflection and liquidity, giving it unique properties. For each transaction, there is a 10% tax. Half of that tax (5%) is redistributed to all other SafeMoon holders in the form of reflection. The remaining 5% is used for liquidity.
These “tokenomics” aid price stability and incentivizes holding for several reasons:
- The burning of tokens reduces the supply per transaction
- The transaction tax creates a disincentive to sell
- During periods of high-volume volatility, more reflections are distributed as a result of increased transactions
- Total taxes disincentivize day-traders to artificially manipulate the price and also run arbitrage bots
With these attributes, SafeMoon could be looked at as a high-yield financial instrument, like an ETF, but with a very favourable twist that leverages taxation on volume to provide a percentage yield to its holders. All of this makes SafeMoon an excellent store of value and a strong alternative to fiat and other cryptocurrencies.
Communitas — Community-Driven
One of the key drivers for the meteoric rise of SafeMoon is their community. The SafeMoon tokenomics speaks powerfully to a wide audience that is looking for a way to earn enough passive income that will make a significant change to their circumstances. This shared belief of being on a financial journey that’s only just begun, allied with confidence in a SafeMoon team that seems to care about the SafeMoon “family”, brings together a community like no other.
With a strong social media PR campaign and word of mouth, within a couple of months, over 2 million holders of SafeMoon and still rising. Key to this are the main social media presence on Twitter, Reddit, Discord and Telegram to name a few. The overall community crowdfunded $1M to kickstart the SafeMoon exchange, while the Reddit community have enthusiastically raised funds for billboards around the world, In particular the U.S. with plans for a display on the Burj Kalifa in Dubai to coincide with the launch of the SafeMoon wallet. The feeling of family and belonging run strong throughout the community and the SafeMoon team themselves, with Jack Haines (COO), acknowledges the massive part the community contributes to making SafeMoon successful: “I find myself speechless over everything we’ve achieved so far…I’m so grateful for all the support, determination and dedication from the community….A humble thank you”.
De futuro — What Next?
The SafeMoon team’s 2021 plans include:
- Ongoing exchange listings (8 existing exchanges so far)
- A SafeMoon Wallet realising the first stage of the aim to provide “freedom for the unbanked”
- Development of a SafeMoon exchange and to also apply SafeMoon tokenomics across all cryptos staked there
- SafeMoon Gamification and an NFT Exchange
- Establish a charity project and to make this an ongoing drive
- A mysterious Operation Pheonix that’s being teased and gradually being revealed over several AMAs
- Establishment of an African SafeMoon base and integration with the first African market
However, several hints have been dropped about the long-term future for SafeMoon.
Because SafeMoon has very high liquidity, this unlocks incredible DeFi potential (e.g. services that banks usually provide such as savings, loans) aimed to provide financial services for the unbanked — which is 1/3 of the world’s population. This has always been a long term goal of the CEO John Karony who has hinted that “SafeMoon is going to be the Fuel for the Freedom of the Unbanked”. In another article, I’ll explore what that could mean for the SafeMoon ecosystem and how this aim might be realised.
Bitcoin is a hole …in a burning building
I had the thought that Bitcoin is like a hole in the wall of a burning building. The burning building is the petrodollar. The Bitcoin hole in the wall doesn’t meet any standard definition of a door. It wouldn’t pass a building inspection and it may not last long. It will most certainly be replaced by something else in the long run. But in the short term, no one inside that burning building really cares about any of that and the ones that first smelled smoke are already pouring through it. Many more will follow and some, sadly, will die in the fire. There are other exits from the building too, some may be safer than others, but the most important thing is getting out of the burning building as quickly as possible. — Mark Jeftovic
SafeMoon may well become one of those safer exits.
🚀🎖The Daily S³: SafeMoon Society Daily News
Created by the SafeMoon Society on Telegram (klew @TRAPKLEW | k k @CarpeMentula)
Contract Address: SafeMoon (SAFEMOON) Token Tracker | BscScan
How to buy SafeMoon: How to Buy | Safemoon
SafeMoon Markets: Markets | Safemoon
Whitepaper: Whitepaper | Safemoon
Message klew for any questions with regards to understanding SafeMoon
References and Resources
Website: www.safemoon.net
Twitter: https://twitter.com/safemoon
Subreddit: https://www.reddit.com/r/SafeMoon/
Discord Channel: https://discord.com/invite/safemoon
Telegram Group: https://t.me/safemoonv2
Certik Audit Completed: https://www.certik.org/projects/safemoon
Twitch Feed for AMA’s: https://www.twitch.tv/safemoonprotocol
Daily News Digest: https://www.reporternaut.com/
Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering investing your funds in any project and please, make your investments very cautiously. SafeMoon and the community behind it will not be held responsible for any investment losses. This article wasn’t created by any core team member of SafeMoon. Purely community-driven
