What is SafeMoon? Built on BNB Chain, SafeMoon is a protocol that aims to solve the problem of temporary loss in the DeFi space. As Kriptokoin.com, we have examined SafeMoon in this article. However, we also answered questions such as what SafeMoon is, what it offers, what is SFM coin, what it does, and how to buy it, which are curious about investors. Let’s take a look at this fast-growing project in the Blockchain industry together.
What is SafeMoon?
SafeMoon is a Blockchain-based protocol that was released on March 21, 2021. This protocol is built on BNB Chain and offers a range of services in the DeFi space. In essence, it hosts various measures designed to prevent dramatic price movements. Through these measures, investors gain profits in a “safe” way. Thus, it works as a DeFi platform that is resistant to price volatility. Three types of tokenomics that SafeMoon offers give investors access to it.
What does the project offer?
Running on BNB Chain, SafeMoon has three exclusive DeFi products. The first of these is a mechanism called “static rewards”. The static reward mechanism gives you the chance to earn more cryptocurrency rewards than trading fees. Thus, it encourages long-term token holding. This means that wallets gain value based on the volume of transactions performed on the network. “Automatic liquidity protocol” is the second mechanism of SafeMoon. Through this mechanism, the ecosystem provides a solid price floor with some degree of arbitrage resistance.
In addition, the mechanism protects investors from large price volatility. Finally, SafeMoon hosts a token burning mechanism called “manual burning”. Accordingly, token burns are controlled manually, meaning they can be closed and changed at any time. The team says this allows them to better control circulation in a way that rewards owners. To alleviate concerns about transparency, the protocol also displays a public burn monitor on its homepage.
What is SFM coin? What does it do?
SFM coin is a BEP-20 token with various use cases inside the DeFi protocol SafeMoon. This coin is specially designed to power the protocol. The entire protocol works with the Proof-of-Stake consensus mechanism. Accordingly, the SFM coin allows users to earn passive returns by staking their tokens. By locking their SFM, users get a chance to earn additional token rewards. This allows the ecosystem to attract more investors and ensure their security.
What is SafeMoon? How to take SFM?
SafeMoon is currently listed on many cryptocurrency exchanges. After the token’s massive rise in 2021, most exchanges have decided to list SFM. Investors looking to buy cryptocurrencies need access to exchanges such as PancakeSwap, WhiteBIT, Bitbns, Bitrue, Gate.io, BitMart. They can then purchase SFM by following the steps to become a member and purchase.
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