Burning is aimed at holders who are ready to invest in the project in the long term. SafeMoon monitors the burning and announces the conditions and the number of tokens to be burnt. Reflection encourages holders to keep their tokens to obtain higher returns, which are percentage-based and dependent on the total number of tokens held by the owner.īurning benefits only in the early stages. The solution to this problem in SafeMoon is static rewards, which depend on the volume of the token being traded. However, tokens almost always suffer from an imminent valuation bubble, followed by an explosion and an impending price collapse. With the rise in popularity of DeFi, many cryptocurrencies fall into the trap of high APY of LP farming as earlier buyers with higher rewards crowd them out. Yield farming has an APY (annual percentage yield), which can reach even 5,000% per year. We have already explained what yield farming is in our article. The key concept in DeFi is yield farming, which is equivalent to the bank’s percentage of the deposit. Until the developer changes the contract, the smart contract will conscientiously fulfill the intended tasks without the need for clients to provide identification data, open and replenish accounts, exchange funds, or withdraw money.

When smart contracts are posted on the network, users can examine them and start interacting with them. DEX exchanges are regulated by smart contracts. The decentralized finance market is diverse – exchange, lending, insurance, etc. However, the cryptocurrency market nature is speculative. Since March, the price of the asset has risen from $0.00000001 to $0.000005. In the first quarter of 2021, the company introduced the SAFEMOON/DOGE trading pair on Bibipom exchange and began a legal paperwork process with Bitmart and Whitebit. Its protocol includes three simple functions: SafeMoon is a decentralized finance (DeFi) token. The team behind SafeMoon aims to make a groundbreaking coin that is not affected by the valuation bubble burst and embrace a DeFi reflection and farming. The main goal of the creators is nothing but ‘mooning,’ which means soaring in price (which seems quite suspicious). The project was built on the Binance Smart Chain network and is actually a BEP-20 token.

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