$0.00000144 is the current SafeMoon (SAFEMOON) cryptocurrency token price, up a progressive 8% over the last 24 hours. In addition, the total market cap is $842,419,671 also, the trading volume represents of $4,492,142. SafeMoon is a token in the Binance Smart Chain. Unlike many altcoins, this is not a management token (for example, COMP or UNI), which opens voting rights in the protocol, and not a utility token (BAT or Filecoin), which extends the protocol’s functionality. It’s more like a meme token like Shiba Inu, existing for the simple pleasure of buying and selling it and hopefully making money from speculation.
But the SafeMoon has several individual qualities. First, it imposes a 10% tax on owners every time they sell. This serves as a mild deterrent to cashing out funds. Furthermore, half of this 10% tax is distributed proportionally among the owners of shares, depending on how much they have, while the other half goes to the liquidity pool. Finally, like Ethereum, SafeMoon tokens are gradually being burned to put deflationary pressure on the asset. The goal is to create a “safe” path for the token to the “moon” or, conversely, a price increase.
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