With the explosion of DeFi has come the problem of impermanent loss. That’s a serious accusation and one we will look at in more detail later in this piece. However, some critics have come forward to attack SafeMoon, saying the token is a Ponzi scheme, a scam, and a shitcoin. Initially created as an alternative to the centralized fiat currencies controlled by central bankers, Bitcoin and many other cryptocurrencies have become little more than commodities, with traders, investors, and speculators simply using them as investments and tradable assets. One criticism of Bitcoin and similar cryptocurrencies is that they’ve strayed from their purpose. It does this through a “tax” on any transaction where SAFEMOON tokens are sold. As an additional feature, it promotes buying and holding its token rather than speculating to drive up the price. SafeMoon was created to address the issue of impermanent loss. SafeMoon has already burned nearly half its supply. In the short time SafeMoon has been in existence, it has added nearly 2.5 million users to its protocol while burning over 40% of the total token supply. It was launched on March 8, 2021, in a fair launch where the devs burned all their tokens and participated in the coin offering just like everyone else. SafeMoon is an altcoin created on the Binance Smart Chain. That said, maybe you’re just here because you’ve heard the hype over SafeMoon and just want to learn more about what it is and what problem it solves. So make sure you never invest more than you are able to lose and be sure to do your research and due diligence before making any investment. New projects like this can create new fortunes almost overnight, but they can just as easily crash and burn. Remember that cryptocurrencies are inherently risky investments, even the oldest and most stable. If you are considering adding SAFEMOON to your holdings, then read on and be sure to take your grain of salt. With the prospect of infinitely increasing token generation (so long as you don’t sell), and with a price that’s jumped thousands of percent in just under three months, and a unique take on rewarding investors, it’s no wonder the project has attracted a good deal of attention.Ĭhances are it’s caught your attention too, which is why you’re here. Remember, getting to the moon takes time, and the longer you hold, the more tokens you pick up. As it says on the SafeMoon Facebook page: The development team hopes this approach will help cryptocurrencies move away from the wild west perception they currently have.
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