SafeMoon

Safemoon is a cryptocurrency, which are digital currencies that exist solely online and hope to be used as a medium of exchange. Like more popular cryptocurrencies such as Bitcoin and Ethereum, Safemoon is powered by the distributed ledger technology known as blockchain. Safemoon was created on the Binance Smart Chain blockchain and has a market cap of only about $88.4 million (as of July 7, 2022), compared to about $396 billion for Bitcoin.

Safemoon was designed in a way to encourage long-term investment and discourage selling, but it has failed to catch on after its initial spike. It does this by charging sellers a 10 percent fee, with half of the fee going to Safemoon’s existing holders and the other half to be used in a liquidity pool, in an effort to better maintain price stability.

Blockchain security firm CertiK found during an audit of Safemoon that its owners acquire tokens created from the liquidity pool, giving them control over tokens created as part of the fee. CertiK flagged this as a major issue in its report and recommended Safemoon improve its security features.

Safemoon’s developers also manually reduce the amount of Safemoon in circulation regularly in an effort to reduce supply and increase the price. The price did soar shortly after being introduced in March, reaching an all-time high of $0.000014 on April 20, 2021, according to CoinMarketCap. It has since fallen nearly 99 percent from its peak.

A human-focused technology and innovation business expanding blockchain technologies for a brighter tomorrow.

Deeply connected to and driven by our award winning community (The SafeMoon Army), we are innovating for good. Building blockchain, commerce, metaverse and NFT products to derive new kinds of value from crypto technology and to apply it to increasingly better use.

We are now addressing the second part of our mission – the expansion and channeling of our technology to propel new innovations for good, and a Venture Philanthropy model to advance those innovations to every part of the world.