SafeMoon: Difference between revisions
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{{Infobox cryptocurrency |
{{Infobox cryptocurrency |
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| currency_name = SafeMoon |
| currency_name = SafeMoon |
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| image_1 = |thumb|SafeMoon Logo |
| image_1 = SafeMoon Logo.svg|thumb|SafeMoon Logo |
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| image_title_1 = |
| image_title_1 = Logo of Safemoon |
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| image_width_1 = 150 |
| image_width_1 = 150 |
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| image_width_2 = 110 |
| image_width_2 = 110 |
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| circulating_supply = 577,228,416,213,834 ({{as of|2021|08|28|lc=y}}) |
| circulating_supply = 577,228,416,213,834 ({{as of|2021|08|28|lc=y}}) |
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| supply_limit = 1,000,000,000,000,000 |
| supply_limit = 1,000,000,000,000,000 |
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| market_cap = $ |
| market_cap = $2,520,510,971 ({{as of|2021|08|29|lc=y}}) |
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| current holders = 2,284,054 ({{as of|2021|06|01|lc=y}}) |
| current holders = 2,284,054 ({{as of|2021|06|01|lc=y}}) |
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| block_explorer = {{URL|https://bscscan.com/token/0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3}} |
| block_explorer = {{URL|https://bscscan.com/token/0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3}} |
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Revision as of 18:48, 29 August 2021
 Logo of Safemoon | |
| Denominations | |
|---|---|
| Code | SAFEMOON[1] |
| Development | |
| White paper | safemoon |
| Code repository | https://github.com/safemoonprotocol/Safemoon.sol |
| Development status | Active |
| Developer(s) | SafeMoon LLC |
| Ledger | |
| Block explorer | bscscan |
| Circulating supply | 577,228,416,213,834 (as of 28 August 2021[update]) |
| Supply limit | 1,000,000,000,000,000 |
| Website | |
| Website | safemoon |
SafeMoon is a cryptocurrency token created in March 2021[2] on the Binance Smart Chain blockchain.[3][4][5]
The token charges a 10% fee on transactions, with 5% redistributed (or reflected) to token holders[6][7] and 5% directed to wallets in a different currency,[8] Binance Token (BNB), controlled by the coin's authors, described as a liquidity pool,[9] to create a "solid price floor and cushion for holders".
History
SafeMoon was released in March 2021. The slogan of SafeMoon, "Safely to the moon", took inspiration from the popular phrase "To the moon", meaning "to quickly rise in price". After its launch, SafeMoon quickly gained over one million holders of the cryptocurrency.[1]
SafeMoon multiplied rapidly in value after a wave of celebrity endorsements,[10] including from rapper Lil' Yachty, YouTuber Logan Paul, and sports blogger Dave Portnoy.[2]
In May, the project announced making a presentation to The Gambia to provide "technology for innovation and learning purposes".[11][12]
On 15 June 2021, the project invited applications for beta testing of the SafeMoon wallet.[13][14]
Security
In May, the token was audited by security auditing firm CertiK, receiving a score of 82/100.[15] The audit report identified no critical issues, but noted one 'major issue' that the project's owners have "control over tokens funded by SafeMoon's seller fee".[16][17]
In response to the one 'major issue' raised by CertiK, the SafeMoon team stated that "In regards to owner control, we are a fair launch governed by a central board which is subject to governmental regulations and law. We are a legally registered entity in accordance to the law and jurisdictions in which we operate".[15]
SafeMoon has an A Transparency Rating (Full Transparency) from Nomics.[1]
Criticism
The token has been described as a "meme coin" alongside Dogecoin and Shiba Inu, with much of its value attributed to the result of a market frenzy.[2]
The developers of SafeMoon have been described as having "little proof of previous success",[5] with the token having been described by some financial experts as a "meme stock",[2] "the furthest thing from safe"[17] and that it "doesn't do anything".[17]
After the price of a SafeMoon token multiplied by 12x during a single week in April 2021,[18] opinion columnists in various financial magazines likened SafeMoon to a ponzi scheme[19] or pyramid scheme, where gains to early investors were paid only by incoming investors who expected a similar rate of return, with some citing the fact that each transaction sends a portion of the transacted value to existing holders of the token, as well as a portion of the transacted value to a wallet controlled by the coin's authors.[20]
See also
References
- ^ a b c "SafeMoon". Retrieved 10 July 2021.
- ^ a b c d DeCambre, Mark (18 May 2021). "Here's What Crypto SafeMoon Is and Why It's Trending". Barron's (newspaper). Retrieved 14 June 2021.
- ^ "What is SafeMoon coin? A Bitcoin, Ethereum, and Dogecoin challenger". Fortune (magazine). 17 May 2021. Retrieved 1 June 2021.
- ^ Brooks, Matt (7 May 2021). "What is SafeMoon? New cryptocurrency explained, how to buy in UK - and could it rival Dogecoin in popularity". The Scotsman. Retrieved 1 June 2021.
- ^ a b Conway, Luke (26 May 2021). "Is SafeMoon Really a Safe Investment?". The Street. Retrieved 1 June 2021.
- ^ Ostroff, Caitlin (6 May 2021). "Dogecoin's 12,000% Rally Spurs Hunt for Next Crypto Winner". The Wall Street Journal. Retrieved 1 June 2021.
- ^ Harper, Chris (23 April 2021). "What is SafeMoon". BirminghamLive. Retrieved 14 June 2021.
- ^ "Contract 0x8076C74C5e3F5852037F31Ff0093Eeb8c8ADd8D3".
- ^ "Safemoon Whitepaper".
- ^ "To the Moon: How One Cryptocurrency Made People Millions Overnight".
- ^ "Cryptocurrency - SafeMoon To Implement Operation Phoenix in Gambia". The Chronicle Gambia. 18 May 2021. Retrieved 1 June 2021.
- ^ "SafeMoon sets out for Africa". AIBC News & Events. 8 November 2019. Retrieved 14 June 2021.
- ^ Rearick, Brenden; Jun 15, InvestorPlace Assistant News Writer; 2021; June 15, 11:46 am EDT; 2021 (15 June 2021). "#SafeMoonWallet: What to Know as SafeMoon Launches Its Crypto Wallet". InvestorPlace. Retrieved 15 June 2021.
{{cite web}}:|last3=has numeric name (help)CS1 maint: numeric names: authors list (link) - ^ Thapa, Anuz (16 June 2021). "SafeMoon Wallet: What Is It?". TheStreet. Retrieved 18 June 2021.
- ^ a b "SafeMoon". CertiK Security Leaderboard. Retrieved 14 June 2021.
- ^ Smith, Sarah; Market, s (3 May 2021). "SafeMoon Audit: 9 Things to Know About the SafeMoon CertiK Findings". InvestorPlace. Retrieved 14 June 2021.
- ^ a b c "Should You (or Anyone) Buy Safemoon?".
- ^ "'This is a scam': Crypto influencers speak out about Safemoon 'pyramid scheme'". 21 April 2021.
- ^ "Is the SafeMoon Crypto a Scam? 3 Insiders Weigh In on the Controversy".
- ^ "Is SafeMoon a Pyramid Scheme? Why Some Investors Are Skeptical".
External links
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