Safemoon, is the new BEP-20 token on the Binance Smart Chain(BSC), a main competitor to the Ether decentralized financial system. Safemoon was launched on March 8, 2021, and has quickly grown to become the third-largest BEP token by market cap. This very new token grew by almost 6,000% in just one month. The rise that surprised the entire cryptocurrency industry. It has since taken a plunge, but the amazing thing is that this project is still often talked about now, with people calling it the new Doge. How does the Safemoon Token work? Safemoon utilizes the PoA consensus mechanism and its block creators, also known as validators, are pre-selected by Coinan. Thus ensuring project centrality. And there are three transaction elements to note about SafeMoon. Reflection:
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Safemoon, is the new BEP-20 token on the Binance Smart Chain(BSC), a main competitor to the Ether decentralized financial system. Safemoon was launched on March 8, 2021, and has quickly grown to become the third-largest BEP token by market cap. This very new token grew by almost 6,000% in just one month. The rise that surprised the entire cryptocurrency industry. It has since taken a plunge, but the amazing thing is that this project is still often talked about now, with people calling it the new Doge.
How does the Safemoon Token work?
Safemoon utilizes the PoA consensus mechanism and its block creators, also known as validators, are pre-selected by Coinan. Thus ensuring project centrality. And there are three transaction elements to note about SafeMoon.
Reflection: Transaction fees are redistributed to existing holders. 5% of the fees are automatically distributed to all holders in proportion to their share of the coin.
Liquidity Pool: A portion of the fees from each transaction is used for the pool and other platforms, of which 5% is automatically exchanged for LPs to provide liquidity. But the 5% fee is split 50/50, half of which is automatically converted to BNB (Coin On Coin) to support Safemoon/BNB trading pairs.
Token Destruction: A small portion of the transaction fees in each transaction will be moved to the Safemoon destruction address for destruction, which will be carried out by the relevant team according to the variation of the situation.
Since its launch, Safemoon price has risen 3253% . There is no doubt that this token is designed for one purpose – appreciation. All of the pass-through economies in Safemoon are designed to incentivize investors to hold digital currencies, as these are economies where investors can earn passive income from transactions. As a result, more investors are coming to Safemoon, thus driving its price up.
How much more will Safemoon tokens rise in 2022?
People buy tokens with more of an investment management mindset. So in the current year 2022 will there be room for the virtual currency to rise and how much will it rise? This is the question that people are concerned about. However, you can find out about the trend of Safemoon tokens and their trading on Gate.io.
Gate.io allows blockchain enthusiasts to trade and store assets in more than 1,200 leading cryptocurrencies for more than 10 million users from more than 190 countries. In addition to offering Defi products through HipoDeFi, the exchange offers spot, margin, futures and contract trading, custody services through Wallet.io, and investments through Gate Labs and its dedicated GateChain platform. The company also offers a fully integrated suite of products, such as its launch initial exchange product platform, NFT Magic Box marketplace, crypto loans, and more. As you can see, Gate.io has built a comprehensive ecosystem of products to serve a variety of crypto users.
Gate.io not only provides a place to trade virtual currencies, but you can also see the token in real time on it. Safemoon is currently, if somewhat volatile, a token that has yet to show its full potential. In terms of market cap, Safemoon ranks 108th among all cryptocurrencies. So how much will the Safemoon token’s price rise in 2022?. Let’s wait and see