Building a Defi Token Development Like Safemoon

  • Currently, the emergence of cryptocurrency is dominating the digital marketing sector. Almost every essential industry has moved its key to the cryptocurrency space. Although, cryptocurrencies themselves establish as a significant source. That is to generate revenue for investors and critical financial institutions.

    The most popular cryptocurrencies for today are Bitcoin, Ethereum, Litecoin, Dogecoin, and many more. As we all know, the cryptocurrency development space has grown in popularity, so it requires Defi token development. Many organizations have run with understanding the types of crypto tokens; SafeMoon is the newest for the crypto industry. The emergence of Safemoon took place in March 2021. Although, the new crypto token has grown in popularity.

    SafeMoon has high transaction fees of 10%, and social media hype and is also known for its immense volatility. Crypto coins like Bitcoin and Ethereum blockchains SafeMoon, like better-known. But the basis of Ether is on distributed ledger technology like Binance Smart Chain blockchain.

    Also Read: Reason to Adapt To Cryptocurrency Solution

    What is SafeMoon?

    SafeMoon is on the Binance Smart Chain (BSC) blockchain for smart contracts, and the launching was under BEP-20 tokens. The decentralized finance (Defi) platforms and centralized finance (Cefi) platforms in the blockchain ecosystem.

    SafeMoon, with solid demand and value in the crypto market, is a decentralized finance (Defi) coin. Its most remarkable incorporate reflection, LP acquisition, and burning. The basis of Defi like Safemoon on the Binance Smart Chain infrastructure. So the functions are like reflected finance Tokenomics.

    Also, Read: Why Develop Defi dApps and Protocols with Binance Smart Chain

    How does Safemoon work?

    The working of the SafeMoon protocol is around the BEP-20 Token Standard SafeMoon token platform. Hence, it works with a mix of auto-liquidity generation and reflection Tokenomics. It has already burned 400 trillion tokens by deflationary mechanism. The digital currency Safemoon lives only online and hopes as a medium of exchange.

    The distributed ledger technology for business solutions powers Safemoon as a blockchain. The market value cap of Safemoon is only about $1.3 billion (as of Sept. 2, 2021). Although, the creation of Bitcoin compared to about $930 billion on the Binance Smart Chain blockchain.

    The amount of Safemoon in circulation reduces supply and increases the price.

    Those who sell their SAFEMOON tokens are inhibition of constant selling. With this implementation, fans grab onto the token, and the honoring is with static rewards. Generally, this balances the token price and funds the projected liquidity.

    Who leads SafeMoon?

    A list of six leaders leads SafeMoon. According to his LinkedIn profile, CEO John Karony is at the top. Earlier, he presents as an analyst for the U.S. Department of Defense.

    Along with John Karony, the community manager Trevor Church and the chief technology officer Thomas Smith is also working on an independent video game studio known TANO. Although, it is concise as “technically a new operation.”

    While Creating a cryptocurrency education or experience at larger companies is not a prerequisite. Their prior work history and capability seem a bit unclear. They promote SafeMoon via their Twitter accounts, from crypto project leaders, which is not that away to typical. But it is tough to determine how authentic the project is or how qualified they are.

    To sell hoodies, hats, sweatpants, and many more things site has SafeMoon related merchandise. Although, the use of proceeds for Developing money is not typical for a cryptocurrency project.

    Core features of Token like Safemoon

    There are some listing of core features of Safemoon that are below:

    • Automated Liquidity pool

    SafeMoon has a special feature of automated liquidity that makes it unique. To adds them to the LP by creating a solid price floor, and the Smart contract collects tokens from sellers and buyers. By adding the tax to the liquidity, the added LP tokens create stability from the supplied LP token.

    Read More: Smart Contract Development Services

    • Stable rewards

    The trading volume of the tokens depends upon the reward amount. The reflecting process motivates owners to swing onto their tokens to garner higher kickbacks. Moreover, the capacity of tokens staked by a user depends upon the reward percentage.

    • Token Burn

    The community has no control over the tokens, which will result in the continuous automated burn of tokens. For user transparency, the announcing will be for token details. It is also for the burned amount and other details.

    • Community governed Tokens

    For all the users without holdings, the distribution of tokens is mutual. The governing for the activity of each token is by the community. Also, it empowers the value of the tokens.

    Conclusion

    Building a Defi token development like SafeMoon is the next transition for the future generation. The vision is to explore the benefits of business growth. Although the funding towards the Defi like, the SafeMoon token has efficient value in the long run. So that it benefits investors with high returns. That means it is efficient for trade, buys/sells, and transactions.

    You need to develop Decentralized Finance more reliable. It is believing of the generation that Defi is simple and secure to use. For leveraging deep subject understanding and depth of skills here, Our Oodles blockchain developers and financial experts’ experience comes in handy.

About Author

Pankaj Kaushik (Writer)


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