Source: Safemoon Website
A new cryptocurrency called SafeMoon was launched recently. This currency has been gathering interest online, on various Crypto forums, message boards and Reddit. Very little is currently known about this cryptocurrency. However, the developers of this Safemoon have been doing a lot of online interviews and AMAs to create awareness about their product. Read on to know how to buy Safemoon.
The Safemoon Protocol was launched back on March 8, 2021. As per the Safemoon website, the Safemoon Protocol is a community-driven, fair launched DeFi token that is based on three main functions: Reflection(Static Rewards), LP Acquisition, and Burn. The Static Rewards are earned by people when they hold the cryptocurrency for long periods of time. The Automatic LP helps to stabilise the price of the crypto by creating a solid price floor. Finally, Safemoon penalises sellers with a 10 per cent selling fee which is then distributed among the people who are holding the crypto. As per the Safemoon website, the Safemoon Price is 0.000000859 USD currently.
The tagline of Safemoon on their Facebook is, 'Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.' 'Going to the Moon' is a popular phrase coined by the WallStreetBets community on Reddit. Basically, what it means is, if you buy crypto or a share, you should hold on to it till the prices on the particular investment skyrocket to the Moon. Stay tuned for more news on cryptocurrency and technology.