SafeMoon Crypto Review

SafeMoon Crypto Review

On March 8, 2021, a coin called SafeMoon was made on the Binance Smart Chain (BSC) ecosystem. It is a BEP-20 coin that was made on March 8, 2021. Ethereum has a decentralized finance (DeFi) environment and a centralized finance (CeFi) environment. BSC is a competitor to both of them. 

Read on to learn more about SafeMoon Crypto.

Watch the below video on SafeMoon Crypto:

This is how SafeMoon has quickly become Binance’s 3rd largest cryptocurrency in terms of its market value: 

On its website, it says that the cryptocurrency is made up of three main parts. The first is a time to think. These are transactions where SafeMoon charges a fee. The fee is split up among token holders. 

Transaction fees: The second fee is split between several liquidity pools on Pancake Swap and other platforms. It will be split between these pools and other pools on other platforms. 

Each time you make a trade, the third thing is that a token is burned. It doesn’t say how much of each transaction is burned in the white paper or on the rest of the website. It says that transactions are charged a 10% fee that is split between the two people who make them. 

People who win reflection prizes get 5% of the total, and people who win money pools get 5%. Liquidity pools get 5% of the money SafeMoon and Binance Coin exchange. 2.5% of that money goes into Binance Coin to keep the SafeMoon and Binance Coin pair going strong (BNB). 

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According to the SafeMoon white paper, the team plans to burn tokens manually. These burns don’t seem to be part of SafeMoon’s normal routine, but they will be done at the team’s choice. 

It’s not clear how the team makes these choices, or how much control they have over SafeMoon’s maximum supply. The team may be able to manipulate the supply and price of tokens because they can burn them whenever they want to. 

So far, 416 trillion SafeMoons have been burned, as shown in the picture above. The following wallet, which appears to be SafeMoon’s burn address, is the best way to show this amount. 

It is now ranked 202 on coinmarketcap. It has a total of one quadrillion tokens in stock at all times. 

whose idea was SafeMoon? 

There are six people in charge of the token.

TANO, which stands for Technically A New Operation, is an indie game studio that John Karony, the CEO, Thomas Smith, the CTO, and Trevor Church worked together on and started together. LinkedIn profiles show that they all worked together. 

“Alpha Launch Coming” is all that TANO has on its website. So it’s not clear if this is a running business or if this is something that will happen in the next few years. 

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Thomas Smith, the group’s CTO, has the most experience in the field. He has worked for a lot of different companies as a software engineer. 

Web development, game development, and general management skills seem to be a mixed bag for the rest of the staff, according to what they say. If you look at Henry “Hank” Wyatt’s LinkedIn profile, you can see that he also owns a gaming development company. Unfortunately, the web page causes the host to give back a 521 error code. Game developer Jacob Smith worked for SafeMoon’s web developer at the same time. 

One person on the team has a four-year degree. Henry Wyatt is the only person on the team with a degree. The rest of them seem to have only been to college or university for a short time. 

While they don’t need formal education or previous work experience at a big company to start a cryptocurrency, their work history and credentials seem to be a little unclear. People who run crypto projects usually promote their projects on Twitter, but it’s hard to tell if the project is real or if the people who run it are good at what they do. 

There are hoodies, caps, sweatpants, and other SafeMoon-related items for sale on the site. Even though the money could be used for development, this isn’t typical for a cryptocurrency project. 

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When it comes to Bitcoin, SafeMoon isn’t the same as the rest. 

On the Binance Smart Chain, SafeMoon is a token called BEP-20. It was launched there. He is the founder of Binance. Changpeng Zhao has said that BSC is not decentralized. CeDeFi is an oxymoron that stands for “centralized DeFi.” Zhao used the term in a tweet that has since been deleted. 

Falsification of an Authority 

People on the Binance Smart Chain agree to use proof of authority as a consensus process. Validators are people who show that they have the right to make a block. Binance has already chosen and approved these people to be validators. They must show that they are who they say they are, invest money to show long-term commitment, and be the same as all the other candidates in order to be approved. Consequently, proof of authority is meant to be based on how well you do. 

It is Binance’s job to run the blockchain in this arrangement. They decide who is a validator and can fire them at any time. All users of the chain must have faith that Binance will act in their best interests at all times. It is possible for Binance to change any part of the chain or ecosystem at any time.

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