SafeMoon (SAFEMOON) Live Price

SafeMoon Price Charts

SafeMoon price charts can help you to make intelligent trading or investment decision. The SafeMoon price charts have been determined from the average prices taken across cryptocurrency exchanges. Trading decisions should be decided as per your long-term goal and individual purchasing price. Coinmarketcap alexandria can also be a useful resource for getting information on major cryptocurrency protocols. 

SafeMoon can be traded against other cryptocurrencies and fiat currency such as the US dollar. Various portfolio tracker services are available where you can easily monitor the price of the SafeMoon coin. SafeMoon price is affected by market forces so ensure you carry enough research before trading. It can also help you in SafeMoon price prediction for the future. 

What Is SafeMoon (SFM)?

SafeMoon is a decentralized finance (DeFi) cryptocurrency protocol that is powered by a native token known as SafeMoon and is represented by the token symbol SFM. It was founded in 2021 by John Karony who serves as the ceo of the project. The team of the project is highly experienced and consists of veteran experts from the field of blockchain technology. 

SafeMoon protocol saw a fair launch with the team deciding to burn all their tokens. The dev token burning event marked the beginning of the SFM coin. Token from both parties (developers and community members) thus received equal value after the contract was launched. 

The SafeMoon cryptocurrency is a fully decentralized ecosystem where users are rewarded for holding the coin for the long term. A token holder of the SFM coin can earn attractive rewards during each trade. 

Each trade that occurs on the SafeMoon protocol generates liquidity that is funneled into various cryptocurrency exchanges. The auto lp acquisition makes SafeMoon a promising coin as the liquidity will never run out. SafeMoon is one of the pioneering cryptocurrencies to include an auto-liquidity generating protocol. 

The rfi tokenomic ensures holders receive passive rewards and accumulate more tokens during the long-term. Liquidity pair addition is also taken care of through the reflection generating protocol in-built inside the SafeMoon ecosystem. 

A burning mechanism puts more deflationary pressure on the SafeMoon cryptocurrency ensuring its long-term growth. 

Here’s how the reflection mechanism works during each SafeMoon trade:

4% is redistributed to all SafeMoon holders,

3% is earmarked for SafeMoon liquidity addition,

1% is distributed to the SafeMoon Ecosystem Growth Fund, and

2% of all SafeMoon tokens are burned. 

What Makes SafeMoon Unique?

SafeMoon is one of the earliest cryptocurrencies to include a redistribution mechanism for its holders. Each holder gets rewarded and is incentivized to hold the coin for the long term. Regular burning also ensures that it remains a deflationary digital currency. The burned dev token has also contributed to its massive popularity. 

The SafeMoon ecosystem is also a great platform for building a passive source of income as each trade provides additional coins for all holders. SafeMoon has opted for a manual burn strategy which can be easily modified as per the needs of the community. 

Its advanced features have included tokenomic with the additional functionality of a redistribution mechanism and auto-liquidity events. The process of auto-locking liquidity has made it a popular altcoin. The apy lp-farm also promotes users to hold onto the SFM coin for the long-term and not sell it frequently. 

In the future, the SafeMoon ecosystem also plans to launch a decentralized exchange, and will also target commerce, metaverse, coin launchpad, and NFT products. The SafeMoon ecosystem also includes a SafeMoon wallet to store and trade SFM.  It also includes support for multi-chain storage, fiat integration, a contacts list, and a reflections tracker.

SafeMoon is a high apy-yielding static reward protocol and holders stand to gain huge incomes by deciding not to sell early. 

How Many SafeMoon (SFM) Coins Are There in Circulation?

A total of JPY 0 SafeMoon coins are currently in circulation. SafeMoon upgraded to version 2 which saw its initial supply reduce by a factor of 1k. This decision was taken by the SafeMoon team for the overall growth of the platform and to ensure it remained a deflationary cryptocurrency. 

How Is the SafeMoon Network Secured?

The SafeMoon cryptocurrency protocol runs on the Binance Smart Chain which is considered highly secure since it runs on a consensus mechanism known as proof of staked authority which is a combination of Delegated Proof of stake (DPoS) and Proof of Authority (PoA). Block creators (also known as validators) are pre-approved and selected by Binance. They must disclose their real identities, and also have to invest in ensuring there are no sudden rug-pull events. 

The SafeMoon contract has also been audited by Certik, which is a kind of anti-scamming organization and helps protocols ensure that their contract is safeguarded against malicious actors.