🤑 Why did I jump into SafeMoon? FOMO or thorough investment?
Hello HODLers,
First of all, this post is NOT investment advice and even the name SafeMoon is not representing the risk involved with this token.
This is clearly one of the riskiest out there so do not invest what you are not willing to loose.
SafeMoon Tokenomics
SafeMoon employs 3 simple functions: Reflection + LP acquisition + Burn In each trade, the transaction is taxed a 10% fee, which is split 2 ways.
- 5% fee = redistributed to all existing holders
- 5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
I believe these 2 simple functions are very useful and effective. As I was looking at the different metrics, it seems there is already an LP of c.8% of Safemoon Marketcap due to this sytem.
The 5% fee is also a big incentive to HODL your coins. One that is even better is the fact that when you buy into this token, you have to "at least" make a +10% profit to just get out even.
As many are looking for more, they will hodl knowing that to get back they will have to take a 10% cut. If you ask me, this is very powerful on the mindset of investors.
A Burn has already happened as shown above and if you read on the praragraph mentioning the 3rd function: Burn
Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed. The conditions of the manual burn and the amounts can be advertised and tracked.
This means we would have to trust the team to initiate other burns going forward and depending on different milestones being reached.
I guess they would have an incentive to do so as any of these burns will pump the price.
These are impressive numbers
They might be inflated but it is true I know a lot of HODLers and some just joined crypto recently (who said we were at the top xD)
PR and Marketing campaigns?
You can follow their twitter here and they are quite active.
They seem to have a very nice team doing nice promo videos and so forth.
Ongoing Development
As shown above:
- Safemoon Wallet seems to be incoming soon
- Safemoon Exchange is being developped
- Listing are happening almost every week even if there are no Top 5 CEX at the moment
Basically you have to trust then but it seems they are really commited and active.
When I think about some cryptocurrencies taht developped NOTHING in 4 years and still have multibillions Market Cap (Hello Cardano and ChainLink). Why not Safemoon?
The Binance Pump?
Seeing SHiba Inu (SHIB) being listed by Binance with not so much HODLers and notorious whales controlling the cryptocurrency.
I would think SafeMoon has a shot as they have a >+$30mn daily volume.
Never forget that CZ and Binance are so eager to make easy profit that they could definitely leverage this one easily. In addition this is a BSC project and it will make sense for them to list it.
The only doubt I have is that Safemoon intends to later develop an exchange which might not be to the taste of Binance.
To trade it I do it through Bogged.Finance a very cool project that I will talk about later.
Certik Audit
The main issue is the centralization of some part of this coin; especially concerning the LP.
These issues have been acknowledged and the team has answer with a way to try to fix it.
So here we are, I have invested a little bit and I am just collecting these fees and who knows, maybe a big burn or some pump might give me a great ROI.
What are your thoughts?
Sources
Safemoon Whitepaper
Safemoon Website
Bogged Finance Safemoon- BNB Pair
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I expect the coin to pump seeing the increasing popularity within the ecosystem. Besides, CZ cannot resist against such a nice volume ^^
The mere point that itches my mind is that when a project advertises on billboards or squares at early stages, they tend to dump on us 😂 I hope this one is an exception 😄
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Indeed, the billboard advertisements reminded me of Bitconnect.
Another scam called HEX also did this but had a better fate as it is still alive and doing quite nicely (for now at least).
It all depends on the SafeMoon team. If their intentions are to build, therefore they have a shot to make something big !
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Seems like a well thought of project. great to see some ongoing development and burn initiatives.
If the team keep delivering the goods. The project will do just well.
It should indeed but this is very risky ! It could be a rug pull or a bug pump and dump.
Time will tell 😜
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No risk, no gain. We'll find out eventually, won't we
Interesting, this is the most content I’ve seen on Safemoon, I tried to get some myself today but BSC nodes were wilding so I took it as a sign to not buy. I bought shiba instead 🤷♀️
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Time will tell if it was luck or fate 😉.
If they do not have the intend to scam us, I like what I am seeing but I am very cautious !
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Incentivizing the holders by providing them the incentive from half of the fee from seller's pocket is a nice idea to discourage people from selling and encouraging all to hold.
Let's see how this is going to come out.
!luv 1
That is the plan and let's say it worked for me. i did not sell yet.
Wen Moon? :D
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That chart shows that the spread is really bad. Is it really tough to find liquidity? I am asking because those wicks seem pretty bad.
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The chart looks like this because when you trade Safemoon you have to put a 11% spread.
5% fees for previous stakeholders + 5% fees added to the LP and then the 1% slippage.
Therefore this is the main reason for these ugly candles :D
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Well it's safe...
And it's going to the moon...
I mean what more could you ask for?!
:)
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I mean you summed it up. It looks completely reliable and legit right?
Well, every morning I wake up and think about some kind of rugpull but nothing yet xD.
Thanks for the comment !
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Thanks for the information on Safemoon. I've been seeing it talked about everywhere but did not now much about it.
As you say, the numbers are impressive.
I won't be buying any myself as it's a bit risky for me. 😂
It sounds like it's got a lot of positives going for it though.
By the way . . . what is the significance of all those long wicks?
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