Safemars (SAFEMARS) Live Price

What Is Safemars (SAFEMARS)?

Safemars was primarily launched as a cutting-edge liquidity generation protocol offering autonomous yield farming. The cryptocurrency basically functions by charging a 4% tax on every Safemars transaction. Here’s a short breakdown of the how and why they charge this tax. Out of the 4%, 2% immediately goes into the pocket of all Safemars coin owners and holders. This is essentially why you will never need to stake or yield Safemars coins, the tax will automatically allow holders to accumulate more tokens. The final 2% is coupled with BNB to continuously expand the token’s overall liquidity. This helps consistently grow the total price of Safemars.   

Moreover, the company also indicates that for every transaction, the Safemars protocol will immediately distribute the rewards to all token holders. The process is automated. In addition, the protocol will also and forever, automatically lock the liquidity of the token by constantly minimizing BNB and Safemars tokens.

As per the Safemars team and founders, this daily burning of tokens is completely legitimate, and holders can easily see the process on the blockchain network. The main point behind this is that the company is preventing the token from being subject to rug pull scams, which is especially important if there aren’t a lot of team-held tokens.  

What Is Yield Farming?

To put it simply, yield farming is an effective and transparent methodology of generating passive income from buying and selling cryptocurrency, while at the same time contributing to a specific token or coin’s price development on the blockchain. Yielding is a frequently used word in developing or farming new coins to evaluate and analyse the total productivity of that cryptocurrency.

Moreover, yield farming in the blockchain world also refers to the amount of interest a cryptocurrency holder can earn. In addition, token or coin holders can engage in yielding by buying and storing their tokens using either a masternode reward or by holding their cryptos in a staking wallet.

 Who Are the Developers of SAFEMARS?

Safemars was founded by a multidisciplinary team of eight professionals, which comprises of five marketers and three blockchain developers. However, the Safemars wallet can only be accessed and used by the primary developer of the token, who is known on Twitter as @TheCryptoMartian.

Where Can I Buy SAFEMARS?

There are a variety of popular and reputed blockchain and crypto platforms you can buy and trade Safemars including 3commas.io, PancakeSwap, BitForex, Gate, and many more.