SafeMoon (SFMUSD)

[MasterFeldan]

SAFEMOON SUNDAY RECAP – 9/5/21

*Podcast style between CEO John Karony and Global Head of Products Ryan Arriaga (@TheFudHound)


UPDATE

- Beta is being tested before relaunch. They’re trying to make sure they get it right. Even if there is a little bit of a delay. This is applicable to every product that they come out with. They’re big on direct user feedback. What they’re building, they’re building for the community. They’re adding things we like and removing stuff we hate. The product development team is working day and night.

- There are four different products that are being integrated together. These are the wallet, the web SWAP, the liquidity pool, and the in-app SWAP.

- Liquidity Pool – It’s not just a liquidity pool. We are a provider. This is a multi-chain liquidity pool. Right now it includes not just Safemoon, but Etherium and Binance as well. Not talking about the liquidity pool on Pancake Swap. This is their own liquidity pool. This is the next building block that ties all the products together, including the wallet and in-app swap. Safemoon doesn’t want to use Pancake Swap. They know they can do it better and they want to do it themselves.

*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 will be more coins added to the SWAP in the future. They’re coding their platforms and planning for the long term so that integrating those future coins will be easier to do. Overall, even just beyond the SWAP, what they’re doing is building the foundation. And they need to build the foundation so that they can scale – adding bigger and better applications and enhancements.

- It’s a step by step process… first the token, then the ecosystem to be able to reach out to other ecosystems, then the liquidity pool. The liquidity pool then allows them to bring in more partners and adding other chains. Then the app, which sits on top of the liquidity pool, allowing for buys, sells and swaps. It might seem like everything is taking a while, but this is the right way to do it. This is how you grow and allow room for grow. There is a method to the madness.

- Accessibility, Quality and Security. New advanced encryption has been added. It outperforms a lot of the other options in the market.

- Web SWAP is complete. Liquidity pool is complete. They’re good to go.

- They’re now looking for more token partners and pairs. This will continue to grow the SafeMoon ecosystem. The transaction fees will allow the SafeMoon team to continue to build new and better products. All of this goes back to the holders.

As a reminder...

- 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.


WHAT THE FUD?!

- One of the biggest items is that there was never any Wallet. Actually 50,000 people have it. It just needs to finish the re-beta and be re-launched. There is not a specific date. It will be real soon. It needs to be resubmitted through Google Play and Apple App Store. Google Play is much easier. That’s basically one of the reasons why Android is launched first.

- Key moments on the website, formerly known as the roadmap. There appears to be issues that it hasn’t been updated yet. It will happen soon. These key moments are launch goals. They’re working on what those goals are going to be based on the speed at which things are moving and it will be updated. They don’t want to set exact hard dates until something is ready to go. Failure to meet those dates lets people down. There are internal soft dates too that they need to meet. They will not keep us in the dark. They’re trying to be inclusive of the users in the development process. They’re trying to be transparent. Even though these may not be listed on the website, they’ve been discussed in prior Safemoon Sundays.

----- September - Upgrading to V2 of the Smart Contract (Token V2)
----- September - More bridges (WAX and EOS)
----- September - Will be taking token listing applications for different projects.
----- October - Launching Safemoon Exchange - 3,000 transactions simultaneously. And the number will keep going up.
----- November - Safemoon podcast launch
----- December - Safemoon blockchain launch
----- December - Full reveal of Operation Pheonix, and updates including the Gambia.


COMMUNITY QUESTIONS

- Again, no wallet re-launch date set in stone. In the future, everything will be rolled out in stages. Launches might even be on a surprise date.

- Question about how swap and liquidity pool interact with each other. Basically look up the differences between centralized and decentralized.

- Wasted question on whether or not SafeMoon has a burn system. I’m kinda stunned that was asked to be honest. That and the reflections are like the first things anyone learns about this token.


*Another personal note – I got asked this morning off board where I see the price going. I still see pennies. I still see dollars. It may not happen for a while. But it will get there eventually. This company is spending money. LOTS of money. They wouldn’t be hiring 50 programmers to work on their blockchain, in addition to other employees, as was posted a few Safemoon Sundays ago. They wouldn’t be spending money to build a global headquarters in Utah. You simply do not spend that kind of money if you don’t see this generating huge revenues and breaking the dollar threshold with your coin. Binance hasn’t built their own headquarters. Bitcoin has been using a leased office building and just created plans to build their own headquarters in Arlington, Virginia. That’s basically what you’re looking at. Maybe Safemoon will never be worth Bitcoin numbers. But IMO the company is going to be just as big and as impactful.

*Not a fan of this Twitter stream stuff and I didn’t see it on their Twitch site. Maybe it just hadn’t uploaded yet. Maybe this is a one off. My new source to watch this if Twitch is not available will be… any YouTube channel that records and posts it. This week was