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You can always transfer your tokens to the Safemoon Wallet. You'll get the 10% tax but the reflections will eventually cover the cost for it. The surge in reflections has been huge lately as the whales had been selling their shares (which explains the dip).
I think what you have to understand is that even if Safemoon wanted to, they cannot do that. It's not possible due to it's deflationary characteristics. It's written into their smart contract. It's a well established topic and has been confirmed multiple times since March by the company.
Stocks can do a reverse split and then immediately increase the outstanding shares again based on their authorized shares. The authorized shares can continuously be updated with approval.
Safemoon cannot do that. The total amount of Safemoon that will ever exist was 1 quadrillion. When the tokens are burned, they are permanently destroyed. They cannot be brought back. New tokens cannot be added. Almost half the supply is completely gone now.
Once the consolidation happens, the remaining tokens will drop down to about 571 billion. The tokens that are gone, remain gone. And because the total allotted number is set in stone, Safemoon cannot add more tokens and they cannot do a forward split to add tokens back. The token count can only go down. It can never go up.
This is not a stock. There will not be the yo-yo effect between a reverse split, adding more shares, reverse split, adding more shares, etc. It is literally impossible for it to happen.
Thank you sir.
Not a ton of info being put out yet.
https://tafafricaglobal.com/project/tafcity
If y'all haven't already seen this. From u/penny1657.
Hello everyone, bringing the news to you here first. Sit back and get your drinks ready ??
I was doing some research into The Gambia and discovered something that has major implications for safemoon..
The Gambia had a national unveling of a major multi country cooperation project called... TAF CITY.
TAF CITY is going to be the first of its kind, largest sustainable city in all of Africa with ties to over 8 other countries.... Being built inside of The Gambia as part of their 1 million affordable homes project in cooperation with wait for it.... ECOWAS, NIGERIA, United Nations, the banking systems company that facilitates trade between African countries, TAF Africa Global and many other international organizations and companies...
Remember John Karony talking about Macro IOT and how the information and clues were out there?!? TAF CITY will be a fully sustainable SMART CITY. Powered off of renewable energy and fully connected. They will also be creating jobs for over 60k people and education with a technical training institute for the youth of the country along with agricultural production where everyone grows their own food utilizing the smart city products and energy. The president stated this was from the National Development Plan of 2018-2021.... which we know John Karony has been in works with them since 2018.... take a minute and imagine a city powered and ran off of safemoon technology...
They also stated that this is just the beginning and that other countries in Africa are going to be looking to work with them to build their own sustainable cities and housing. The implications on how fast this can scale is unfathomable.
The blockchain and exchange are so small in comparison to what they are working on. I'm sure there is so much more that we don't even know about....
I WILL NEVER SELL MY HOLDINGS. Can you say it a little louder for the people in the back?!
HODL on SAFEMOON ARMY ????
For those who want to watch the 35 minute unveiling here it is -
Possible, yes.
It has been stated before that Safemoon wants to be on par with BTC and ETH. Equals. There are tons of projects lined up and in development. The real world usage of the coin will be unprecedented once they come online. Its not inconceivable to forecast Safemoon at $1,000 per coin in 5-10 years depending on what gets pumped out between now and then. Especially if the burn drops the circulating supply to 100m. Bitcoin might be the godfather of crypto but Safemoon is going to be what other cryptos try to emulate for a long time to come.
As simply as possible, the big thing is the V2 contract has security upgrades and provides a platform/foundation for future expansions and upcoming Safemoon projects. At some point (because of the latter half of that sentence) you're going to have to upgrade to the new contract.
Well. As far as insight there has been a lot of misinformation lately that I'm not happy about. For example, I've noticed on my own channel newer investors are having a harder time finding Safemoon because there are several new pop up tokens that have Safemoon in the name that are trying to piggy back off the popularity. None of them are related but they're all trying to come across as spin-offs. At the end of the day there is only one Safemoon. Not Safemoon Inu. Not Mini Safemoon. It's just Safemoon. There is a lot of confusion that has been going around which is causing increasing difficulties for people that are just starting out with crypto and looking to get in the game.
On another note, Safemoon and SafemoonCash are NOT the same thing. They are two completely different things. They're not even remotely related to each other. They are not working together. They are not partnered. There is ZERO affiliation. Not the same blockchain. Not the same contract. Not the same owners. Not the same governance. Nothing. So anyone investing in SafemoonCash thinking they're investing in any kind of Safemoon subsidiary is sorely mistaken and possibly in for a rug pull. Just like SafeMars or any of that other garbage that was floating around earlier.
As far as the run goes... I don't know. There are many possibilities and there is a ton of speculation going on around that. It could be because of the wind turbines... it could be excitement behind V2 and consolidation... it could be that there was a whale or two that bought a ton of coins... All I know for sure is that the run that we saw will be nothing once the Exchange comes online. Hopefully the regulatory compliance stuff will be cleaned up quickly because I'm hearing rumors that the Exchange is basically already built and ready to go as soon as the Dev Team gets the green light.
I've been around here, albeit just watching. We're in a weird waiting period as V2, the consolidation and other updates start getting rolled out.
I can post John's messages from a different channel if you want. He just sent something out about being excited for all the things that are going to be released, specifically within the next 18 months.
No worries
SAFEMOON SUNDAY RECAP - 10/31/2021
Presented by John Karony (CEO), Thomas “Papa” Smith (CBO), and Ryan Arriaga (Global Head of Products)
SAFEMOON ARMY
- Grew by over 100,000 new hodlers
WALLET
- Over 500,000 users in under 50 days. Usually takes other companies at least a year to hit those numbers.
- Reflections tracker has been launched for Android, with charts, as well as new SWAP pairs. The iOS version is in review.
- The new SWAP pairs are just the first of many. Additional ETH pairs and BSC pairs will be launched soon.
- BTC and DOGE will be coming up on the next update so people will be able to hold those in their wallet as well. It will not have a SWAP feature yet, but it is being looked into.
- The ability to import 24 word seed phrases, in addition to 12 word seed phrases, and adding multiple wallets will be added in the next update. It will also include the ability to import wallets by private key.
- The Dev Team is looking at a Chrome app/extension of the Wallet, so yes, there will likely be a PC version of the Wallet. There are other SafeMoon projects that will be PC based so having that app would be an advantage in the future. The kit that is being made for Google Chrome is likely going to be compatible with other browsers as well, however they want to test the security of each browser first before releasing it to those browsers.
EXCHANGE
- Progress is being made. From the Safemoon Sunday notes on 10/3 – “There are some regulatory and compliance things that they're working on right now but once that's done, the tech side will happen quickly.”
- The Exchange will be tied into the Wallet.
- The DevTeam is not going to go into timelines just yet, but soft timelines will be announced in an upcoming AMA. It’s just the regulatory side of things (lawyers) that are holding things up.
- A fiat off ramp (exchanging crypto for fiat currencies like the dollar) is ideal and something that the Dev Team would like to do, however that comes down to a lot of regulatory compliance issues not just in the United States but in multiple jurisdictions and countries. They’ll look at it is they finish the regulatory process for the exchange listing.
DARK MOON
- In simple terms, DarkMoon (non-public knowledge) is basically all the projects that are being worked on behind the scenes that have not been announced yet. Ryan had said in a different session that the next 5 years are packed with projects and the Safemoon Army is only aware of about 10-15% of them. Even HE doesn’t know about all of them yet. Once a project is ready to be unveiled, it is moved to the LightMoon (public knowledge).
PARTNERSHIPS
- There is an exchange that a listing is being finalized with along with a second that is waiting in the wings.
- Partnership with Unicrypt. They’re helping with the migration and consolidation.
CONSOLIDATION
- Still on schedule to have it launched in the next two weeks. The Dev Team is on the tail end of it.
BLOCKCHAIN
- Still looking at a December release but with all things, they have to be careful with regard to any timeline.
- Once we move to our own blockchain, we will be using SafeMoon as gas.
ROAD MAP
- One of the reasons why the road map has not been updated is because they do not want the competition stealing their intellectual property and steamrolling their launch.
MARKETING
- Marketing is working on promoting the coin, however the Products Team can't really speak much to that because they're not privy to that information since they're not on that side of things.
Thank you to SafeMoon for posting this video.
Same here. The general idea is that there are some people that feel safer scattering their assets across multiple wallets. Which makes sense to a certain degree. They had been asking for a way to view all of their different wallets from one platform (Safemoon wallet). Which is what's going to happen on the next update.
You can sell it, just not through the Safemoon wallet. There's no function for that yet.
Yup. I hear that. At some point in the near future you will be able to add and scroll through multiple wallets that you've imported to your Safemoon wallet as well. So your Safemoon wallet will basically function as one giant account and each wallet will be a subaccount, like when you open multiple accounts at a bank in your name.
The goalposts keep moving but they have said that it will for sure be launched before the end of the year.
Unfortunately no. It's buy only at the moment. When the Exchange goes live, it will be added to the Wallet... at which point you'll be able to sell from there.
Looks like he's just itching to start releasing Phivitae info too.
All good!
SAFEMOON SUNDAY RECAP - 10/17/2021
Presented by John Karony (CEO) and Ryan Arriaga (Global Head of Products)
WALLET
- iOS was launched
- 350,000 users in under a month
- BNB direct buy was implemented
- Bank transfer is coming for the US, but it should be available for the EU and UK through MoonPay.
- Launching more SWAP pairs for BSC and Ethereum. This will be implemented in the next update.
- Reflections tracker was built and will be implemented with the language implementation. There are additional add-ons to the reflections tracker that can be easily added once the tracker is implemented, such as savings or selling of reflections.
- The core team is working on a way to import multiple wallets so you can click on a dropdown and view each of your wallets.
- Bitcoin and Doge coin will be available ASAP
GLOBAL HEADQUARTERS
- Currently undergoing renovations
- It’s a construction zone. None of the core team are there right now. Please don’t go visit the site.
LANGUAGE SUPPORT
- 13 different languages and 6 dialects will have language globalization in the app.
- Should be launched in about two weeks.
- This will increase accessibility in those countries and allow Safemoon to grow even faster.
PARTNER PORTAL
- Partners will soon be able to see what the status of their application is.
LIQUIDITY POOL
- Beefing up the security so scam tokens and threats can be more quickly identified.
ENCRYPTION
- Working on the tail end of it. Still needs a little bit of time.
- There will be standardization across all the product lines.
SAFEMOON CARD
- Unknown if there will be a waiting list for the cards. Depends on demand and how fast the companies can supply them.
- Still need to work on the regulatory stuff first.
EXCHANGES
- Safemoon will still be listed on additional exchanges.
DUSTING
- Papa will be on a future Safemoon Sunday to discuss dusting attacks and what Safemoon has been doing to prevent them.
- In terms of Wallet “dust” (the tiny bits of your crypto that exists after a trade that typically can’t be traded or sold), Safemoon is working on a way to get rid of that by allowing users to “liquify” it back into the liquidity pool.
- Neither of these are by no means specific to Safemoon. They are crypto-wide.
WIND TURBINES
- The main purpose is to promote renewable energy and to show that it can work alongside crypto and blockchain technology.
- The turn and burn is a nice add on that is easy to implement. Like the V2 token. It’s already done. It’s just a matter of what’s the easiest way to implement it.
- The first part is the logistics aspect of installing the turbine, adding it to the grid, testing it, making sure everything is fine and everything involved with that. What truck do you use to move the turbines, how do you determine an optimal location based on wind patterns, etc.
- There is the normal, traditional, energy aspect… and then we add Safemoon and blockchain on top of that.
- Ideally, Safemoon will be the commerce used in the trade of the energy being produced but the core team is still working through that.
- Safemoon is not a wind turbine seller. They are a utility provider. They are installing them.
- Safemoon has put in a contract with a 3rd party that produces the wind turbines. They’ve put in a purchase for a megawatt to start off with and to test. The initial goal is to provide this as a utility as opposed to residential.
By comparison… “the mean turbine capacity in the US is 1.67 megawatts. At 33% capacity, that average turbine would produce enough for over 460 average US homes each month.” – usgs.gov
V2 / CONSOLIDATION
- Core team is in the last stages of pre-implementation. They need to finish the migration to the liquidity pool, add the V2 contract into the app, and then add the button. The button will be two clicks – the first click will be asking to convert, the second click will be confirming the transaction.
- The team is working with a 3rd party. The Safemoon team is ready but they can’t speak for the 3rd party as to their time frame on when this will be implemented. It will likely happen within a month.
- V2 is an upgrade. It is intended to be used as commerce. The commerce fee will be 2%, just like a typical credit card. The buying and selling of the token will remain at its 10% trading tax. V2 will also help it get listed to major exchanges.
NFTs
- Safemoon will do NFTs.
- There are many projects lined up that no one knows about, although a few may speculate. Those products will allow for the sales of NFTs. It will be on web and mobile. They’re looking for ways to bring it into the wallet app but iOS is blocking NFTs. They’re looking for ways to go around that with iOS, since Android already allows it.
- NFTs will be on the V2 contract with the 2% transaction fee.
- The platform will be community driven so OTHERS can offer NFTs.
Thank you to Safemoon Joe for posting this video.
It's only been around for 6 months... it took Bitcoin 2 years to cross a dollar...
Nah. Not talking about the current burn. Between the regular sell burn, the burn from the exchange, the burn from the wind turbines,2% transfer fees, etc. All the upcoming catalyst burns.
Well. Ok.
The current amount of pre-consolidation tokens in circulation is what? 574 trillion? So the market cap if every token was worth a dollar would be $574 trillion.
In other words, the market cap if the tokens were to hit a dollar will be the same as whatever the amount of tokens are in circulation at the time.
I can't compare it to crypto's market cap as a whole because that number is always fluctuating. There are always new coins. All coins are being bought and sold 24/7.
Bitcoin's market cap is $1.05T.
If you are trying to imply that there's no way we'd hit a $574 trillion dollar market cap, you're absolutely right. $574 billion? Sure. It's possible. What we have to take into consideration is burn rate, supply and demand, if the ecosystem will directly impact the price of the coin... which it will. It's going to take time to see $1 even at the post-consolidation numbers. It will take time to get to $1,000 per coin. But in the meantime, the supply will constantly be burning from many different angles. There are many factors to consider when determining wen dollar.
But... if you want to compare numbers... Safemoon's burn cap is allegedly 100 million tokens. If $1.05 trillion is theoretically possible as Bitcoin has obtained that market cap... $1.05 trillion divided by 100 million is $10,500.
There's a reason why I said I would have been ok if the ratio was 10,000:1... lol
I don't know that we would ever see $10k per token. I do think that $1k is attainable. Even $100 per token would make a lot of us very happy.
Congrats btw... XD
Absolutely! I can't wait to hear all the potential news that comes out between now and end of year with all the paperwork being filed. Henry's getting everything squared away prior to his big trip!
Congrats Gemm!
Couple of things:
1 -
I was late to respond. I'm glad Ad719 got you.
Already hit top 10 in the App Store.
2 -
John wants everyone to read up on the Internet of Things, specifically at the macro level.
Here's a decent article. And below the link is basically what he's getting at and an idea for where we are heading...
https://www.liquidweb.com/kb/what-is-internet-of-things/
I told you... it will hit at least $1000 at some point, hopefully in the next 2-5 years.
And if this thing ever decides to IPO on a senior exchange... like NASDAQ or NYSE...
There are workarounds for that. BlueStacks, etc.
We also don't know the method in which the one button push thing is going to work. Is it built into the Safemoon Wallet? Because not everyone uses that. Is it going to have a web app version that is posted on their web page like Safemoon SWAP?
Ain't a thang.
I honestly don't know. I'm still trying to dig into that myself.
- We ALL have to migrate our tokens from V1 to V2. That's not automatic. They're trying to make it as close to a one button push thing as possible.
- Is V2 the same as the consolidation? Or is the consolidation coming with the blockchain? Or is it off doing it's own thing?
I was speculating that pushing that migration button from V1 to V2 would automatically start consolidating what you have... it would probably be the most efficient way to do it...
... but what happens when people have their Safemoon on set and forget? And they don't check for months or years? What happens when someone forgets their wallet seed phrase and can never access those coins again?
We'll likely find out more over the next few weeks.
I agree with you wholeheartedly. I've been through reverse splits myself. It is a beyond scary thing. It is absolutely terrifying when it's announced and crushing when it happens.
Hypothetically, your shares should come out with the same total value but we all know that a reverse split is usually a death sentence because it tends to be implemented poorly and typically a desperation move or a reorganization effort amongst publicly listed companies that are struggling or taking over a struggling ticker. There is normally a massive sell off before and after the split and a lack of mechanism or catalyst in play to keep the new share price at the level it was just converted to. On top of which, the potential profit takes a hit. 10,000,000 shares going up a penny is not the same as 100,000 shares going up a penny after a 100:1 split. So again, I agree with you 100%
Due to those reasons, when it was announced that a consolidation was a possibility and then later confirmed, the parallel between a consolidation and a reverse split made my blood run cold. There were some saving graces though. We know Safemoon is doing well. Did you see the new building location? Plus all the plans coming into the playing field with the exchange, the blockchain, the telecommunications plans, the wind turbines, etc. We know that Safemoon isn't struggling. It's growing. On top of which... a crypto at $0.001 is going to be a lot more appealing than a crypto at $0.000001. And with the tax mechanism in place... if there is a massive sell off... we still benefit from it if we hold. That doesn't happen with shares.
The difference between a reverse split and a consolidation and the explanation on why they aren't the same is a bit ridiculous.
To be honest, I've never before heard "consolidation" used to describe what is happening. Binance did something similar and it was called a "token reverse split" or a "reverse token split". Yes, Safemoon was my first ever cryptocurrency. It could just be my limited exposure to this particular situation. However, it almost feels like it's a term that was "coined" (heh) to try to downplay the reverse split angle and then later had some rationale retconned into it to further allude to it being two different things... All because the term "reverse split" has such negative associations. It's understandable.
To paraphrase John's "100 pennies is a dollar" line...
At its core.... A reverse split consolidates multiple shares into one share. 100 shares at a penny each get turned into one share worth a dollar.
At its core... A token consolidation consolidates multiple tokens into one token. 100 tokens at a penny each get turned into one token worth a dollar.
It's the same thing.
Throwing in the semantics of "well a stock can always add more shares but a token can't" doesn't change the core fact of what is actually happening. It's trying to blur the narrative by listing a hypothetical that no one cares about because it doesn't apply to Safemoon anyway. It's effectively like trying to convince someone that 2+2 and 3+1 aren't the same thing because one uses all even numbers and one uses odds. Or maybe even more accurately, it can be compared to arguing with your wife about whether or not to buy a Suburban or a Tahoe and how they're completely different because one says Chevrolet and one says GMC (there are other small differences as well but again... semantics).
At the end of the day a reverse split consolidates shares, a token consolidation does the same for tokens, 2+2=4, 3+1=4, and most Chevy/GMC vehicles are the same vehicle.
I'm still very pro-Safemoon. I'm not giving up my seat on the rocket. I agree that I was hoping that they'd drop a zero or two before the consolidation but honestly... I'm happy with 1000:1. I was willing to be happy at 10000:1. Anything more than that though would have been devastating to me. What we ended up with is a huge sigh of relief.
There are almost 19 million Bitcoins in circulation. Bitcoin is currently at $49,968 per coin. There are almost 118 million Ethereum coins in circulation. Ethereum is at $3,442 per token. If the Bitcoin supply was the same as the Ethereum supply, Bitcoin would be at a bit over $5k per coin to Ethereum's $3.4k per coin. The difference when being measured on an even playing field is not as extreme as it normally looks. Safemoon is speculated to eventually be capped off at 100 million, which it will arrive at due to the burn... less than both Bitcoin and Ethereum and arguably doing more in terms of real word applications than either of them.
So yeah. I can see Safemoon hitting $1000 per coin minimum, which would put it on par with the pre-consolidation numbers hitting a $1. All it really does is speed up the process. Maybe even cuts the time to get there in half, depending on what catalysts we get in play in the near future (spoiler: there's a lot).
That ended up being much longer than I meant for it to be... Sorry... XD
That's a brilliant example.
The buzz for a while was, because of that stupid chart that was circulating that included speculation backed by zero DD, the consolidation was going to be 1,000,000 to 1.
THAT would have been bad. Really bad. It was a massive sigh of relief to not see those numbers.
Not a problem.
I wouldn't worry about the split. The bigger it goes, the worse it gets. 1,000 to 1 is nothing comparatively. It would take much longer to get to a dollar at the old prices. John has expressed his desire to be comparable to the big boys... Binance, Ethereum, even Bitcoin. I see no reason why Safemoon can't eventually be $1,000 per share at some point after this consolidation. It's not any different than reaching $1 per share pre-consolidation, other than it may happen much faster.
Anytime.
Thanks for the tip!!! :D
Of course. :)
SAFEMOON SUNDAY RECAP - 10/3/2021
Presented by John Karony (CEO) and Ryan Arriaga (Global Head of Products)
WALLET
- The iOS wallet was kicked back by Apple. Apple apps are hard enough to publish as it is. Finance apps face even greater scrutiny. The issues that Apple had with the app were addressed and it has been sent back to Apple for approval again. There shouldn't be any other issues. The app will get launched soon.
- Android wallet is on about 200,000 devices. 4.9 stars, 20,000 Google reviews.
- The ability to purchase BNB instead of Ethereum through the Wallet is in the works right now. We will be very happy soon.
- Still working on a new UI. Possibly going to have a dark mode?
V2 TOKEN
- V2 will use the same burn wallet.
- The burn rate will be the same.
- The V2 launch is just waiting for the iOS wallet.
- When V2 launches, your V1 tokens will have to be updated ("migrated") to V2.
- The goal is to have a seamless migration experience... as close to "one click" as possible.
- This migration process will span weeks so that people will have ample opportunity.
- There will be a lot of content about it put out over multiple social media sites.
- V1 is not being shut off. So no one will lose coins if they miss the migration period. When people find out about V2 they'll just have to push a button to convert it over.
V2 TOKEN CONSOLIDATION
- The ratio will be 1000:1.
- The total supply will go from 1 quadrillion to 1 trillion.
- The amount of tokens circulating will be 574 billion (as of this writing).
- Tokens cannot be added to the overall supply. They can only be held or burned.
It sounds like the consolidation is tied into the migration. Meaning as you start to migrate your tokens to V2, it will automatically start consolidating them?
V2 TOKEN COMMERCE
- Buying and selling tokens will remain at a 10% rate.
- Using tokens for purchases and transfers will be at a 2% transfer fee. It's obviously less than the 10% rate but it makes more sense when trying to use Safemoon for purchases or transfers. With the anticipated use of Safemoon, it's going to add up.
- There are plans that are being worked on to stabilize the token price for trading and commerce purposes.
V2 TOKEN BLACKLIST FEATURE
- Some exchanges list crypto without the crypto company's permission. Sometimes these exchanges don't initially support tokenomics. The V2 token will have a Blacklist feature that will secure the users that Safemoon has by only allowing three features - withdraw only, deposit only, and closing the gate entirely (no withdrawals or deposits).
WIND TURBINES
- Will help the volume of the token. It will contribute to the buy and burn of Safemoon.
LISTING ON OTHER EXCHANGES
- There are always plans to list on other major exchanges, but right now the focus is on the wallet.
- When it comes to other major exchanges, Safemoon is looking for partnerships not just listings.
SAFEMOON CARD
- The card is a compliance thing right now. There are still plans to do a card.
SAFEMOON HARD WALLET
- Safemoon is still looking at plans to do a hard wallet. It has to be something that is secure and convenient and not an arduous process to do anything. It's more of an ancillary product right now, they're still looking to do it, but again, the focus is on the actual wallets first. Priorities.
SAFEMOON EXCHANGE
- With the reorganization, the removal of toxic elements from the company, the reassigning of personnel to different teams, etc, the overall efficiency has increased. The Exchange is delayed but not by a lot. There are some regulatory and compliance things that they're working on right now but once that's done, the tech side will happen quickly.
MAIN EFFORTS
- Main Effort 1: The wallet, the token, the exchange, the blockchain and the ancillary Safemoon products.
- Main Effort 2: Telecommunications, sustainable energy, banking and currency support.
- The main efforts support each other. They are symbiotic.
- Main Effort 2 will get it's own moment in December when Operation Pheonix is discussed.
DAPPS
- dApps haven't been implemented on the Wallet just yet. It needs to be done correctly to avoid risk exposure. A lot of the wallet hacking lately has been a result of dApps being compromised.
TOKEN LISTINGS
- The application is online at the Safemoon website so now other token projects can apply to be listed on the SWAP and Wallet. There are already a few on there. This benefits the Safemoon liquidity pool and again.. there is a fee that applies to ALL transactions regardless of token that is now in effect...
From 9/9/21 - *Personal note – don’t overlook the fact that they’re going to have their own liquidity pool. It will likely get buried under the excitement of the wallet, the exchange, etc., just like the buy button and SafeMoon SWAP fell under the radar because of the wallet. Having their own liquidity pool is HUGE. In simple terms, liquidity is the ability to sell more tokens and at faster rates without negatively impacting the price of the token. So for example last Safemoon Sunday they talked about Moby Dip and how it dropped the price by quite a bit… Moby Dip being the phrase they’re using for that whale that dumped everything simultaneously. The impact of that would be significantly lessened, if we see it at all, because the liquidity pool should have the available cash assets to cover it. Taken from cointelegraph – “The most obvious benefit of liquidity pools is that they ensure a near-continuous supply of liquidity for traders wanting to use decentralized exchanges. They also offer the opportunity to profit from cryptocurrency holdings by becoming a liquidity provider and earning transaction fees. Furthermore, many projects and protocols will offer additional incentives to liquidity providers to ensure that their token pools remain large, reducing the risk of slippage and creating a better trading experience. Therefore, there’s an opportunity to generate further gains from yield farming reward tokens in return for becoming a liquidity provider.”
There is a 0.25% transaction fee each time a SWAP takes place. This is not just on Safemoon tokens, but on any other token that Safemoon lists.
Out of that 0.25%... 0.17% goes back into the liquidity pool, 0.05% is used to maintain the Safemoon ecosystem, and 0.03% goes into a buy back and burn. Meaning, 0.03% of every transaction fee goes into purchasing Safemoon tokens. Those tokens are then sent to a burn wallet. This will dramatically increase the burn rate.
In other words, every time there is a purchase on Safemoon, regardless of token, that purchase will also be a purchase of Safemoon which will then get burned.
UTAH OFFICE
- Confirmed found. If you guys want to see it, it's at 40.352159372731315, -111.76837512076195
- I think Safemoon Joe found it first. I found it by looking at clues in one of his videos.
- Hiring for people in Utah to staff that office
- Not hiring for remote work.
SAFEMOON MINING REWARDS
- It's not proof of work. That's bad for the environment. It is going to be something else.
ROADMAP
- Card, exchange, blockchain and podcast are still on track for 2021
- Hard wallet was moved to 2022
Thank you to Safemoon Joe for posting this video.
I hear ya. A year if we're lucky. Might be closer to two.
The way I understand the building... one week he said they were working with architects to come up with a design (paraphrasing) and then last Sunday it was almost done with it's renovation and there might be signs on the building visible from the freeway. So my two cents is that it's a building that was already built, they're remodeling it, and from other posts on the internet it seems like it's about finished.
Maybe we'll be lucky and that building in Silicon Slopes (I don't know where that phrase came from but I love it) will help speed things along!
I'm watching that video you posted. Thank you so much!