SafeMoon (SFMUSD)

[MasterFeldan]

"Emergency SafeMoon AMA" aka Papa's "I'm Not Leaving Edition" - 9/10/21


- There are labor laws involved which means that the Safemoon Team can't comment too much on why people left.

This is sort of telling... If someone just straight out quit, that's all they would need to say. Instead, they're just kind of beating around the bush. The announcements by Hank and Jack seemed to have been intentionally made prior to SafeMoon being able to release the information in a manner that was better prepared.

We already suspected that Hank was asked to resign. John all but confirmed this in the AMA when he said "while the decision to replace was not made lightly, sometimes you have to make difficult decisions in order for the mission to get done, in order for us to progress, and in order for us to evolve."

Jack citing his need to remove himself from toxic environments while at the same time saying it had nothing to do with the holders, innovations or the token itself... but leaving out the Safemoon Team component... sort of implies that he had a problem in the workplace with some of the personnel involved. That problem could just simply be that two people were asked to leave and they're taking it hard.

Just speculation.


- The company restructuring started over a month ago. This reorganization is at it's tail end. Turnover is normal, especially in the first couple of years. It's just seen more here because the team has some pretty high profile social media accounts. Usually it's much more private. Crypto is extremely public.

- Thomas is not leaving SafeMoon. If you don't hear it from Thomas, it's likely a lie.

- The next COO and CTO will have corporate experience. They've been working on their hiring pool for about a month and will announce the new additions in the next week or two. These include people with doctorates and decades of experience.

- Audits will be done by one of the "Big 4" auditors. This will be done not only for the products, but also a generalized audit. There will be heavy security assessments and audits on the wallet and products also.

- There will be an effort to improve the connection between the Safemoon social media team and the community.

- The timeline for release dates on some of the projects is being updated. As a result of the reorganization, new teams were created and some teams were merged together. Things are being worked on behind the scenes in parallel and as they get more information, they will let us know.

- Actions are being taken to make sure that a failed launch doesn't happen again. There are already improved security mechanisms in place. Additionally, when a product launch is announced the project will have already been completed and approved through whatever platform is launching it.


- There was a really great question about a hard fork and reverse split of the token and it's likely going to cause a lot of concern. I'm actually a little concerned... but a big part of that concern is that I just don't understand enough about it right now.

First - V2 is not the hard fork. V2 is just an upgrade to their smart contract. Just better coding and security. Nothing else.

Second, a technicality - a token is any crypto currency that does not use its own blockchain; a coin is any crypto that has its own blockchain.

Right now, Safemoon is a token. It uses the Etherium blockchain. This is likely one of the reasons that the first bridge was between Etherium and Safemoon. By creating its own blockchain, Safemoon will have its own coin. So there will be an Etherium Safemoon token and a Native Safemoon coin. One old. One new. Not exact terms. Just using those terms as a point of reference. This split between the old token and the new coin in terms of the blockchain they are assigned to is called a hard fork.

The concern that I've read about seems to be that the old token will not be worth the same as the new coin. This is not true. The new coin and old token will be bound to each other. The value will remain the same. Remember that phrase they keep repeating - 1 SFM = 1 SFM. There will also likely be a way for you to transition your old token to the new coin if you choose to do so. In my head... I envision this as being on Trust Wallet when you need to swap out your BNB for your BNB smart chain token in order to buy Safemoon. It's pretty easy. There's a minor fee. It's not a big deal. I'm not saying that this will be what they choose to do, just an example of how painless it could be. Regardless, over time the old token will likely just get phased out as old ones are sold and traded and new coins are purchased.

The second part of that question revolved around a reverse split. There have been rumors of this for a while. We all know what a reverse split is. Some view it as the death sentence for a stock. It's usually done by companies that are in some serious financial trouble. We also know that while it consolidates value, it usually creates a situation where everyone starts jumping ship - further tanking the value of the stock. Yes there are exceptions, but this generally proves to be the rule. Even the phrase tends to make my blood run cold.

It's different in cryptocurrency. In cryptocurrency it's called "token consolidation". The premise is the same. Combine the token supply so that there are less outstanding tokens. Your total value stays the same, but there are less tokens. Less supply with the same or higher demand = more value. The only concern I have is... what exactly will the token consolidation ratio be? I have to remind myself... the team holds tokens also... if it's too extreme they're potentially hurting their own profits too.

Now... the reason for all of this is that the amount of circulating tokens is just too damn high. We've known this from the start. We've also known that Papa has said he can see the amount of circulating coins being about 100m in the future. We also know that with the trillions of coins that the whales have, it would be nearly impossible to get to that point if they don't ever give those coins up. This is one of those necessities that will get us to where we need to go.

It is extremely important to note right now - The idealized version of a final token supply count is not confirmed. The token consolidation is not confirmed nor is it ironed out. We don't even know when it would happen or to what extent. The only thing confirmed right now is the hard fork.

This was taken from Reddit user u/Agreeable_Dust_8895:

"Nothings going to change aside from the numbers and honestly will be a better and faster progression imo. Just continue to buy and hold and hopefully we watch as the price starts to skyrocket past $1 in the future. Instead of waiting for 0.01 plan for it to go way beyond $1, that’s all."


- There are currently no business associations with any other "Safe" projects. Just because Thomas comments on something doesn't mean that we're associated to that company or project. Stop reading into it.

- Yes, the Android wallet launch will be a full launch. It has been submitted already for Google Play. Once the Android audit/approval process is completed it will be launched. It could be a few days. The iOS platform has not been resubmitted yet. It's just a little bit further behind.

- There will be an NFT tab integrated into the wallet. Android will have it. iOS is a little tricky because iOS is blocking NFTs. So they're working on that side still. NFTs are implied to be part of Operation Pheonix.

- Webull - Safemoon was not actively pursuing it. They just got listed by them. Didn't have anything to do with it. There was no discussion.

- Website is being overhauled to reflect the team changes and the key moments.

- More pairs and features will be added to Safemoon SWAP. They're squaring away what they have now to make sure that it works first before they update with newer features.

- Ryan bleeds Safemoon turquoise. Confirmed.

- Geek speak about different levels of encryption. I dunno. As long as my sh... stuff doesn't get stolen, I don't care. Upgraded security and encryption is already being developed on the back end and integrated and will encompass all products.

- The exchange will be able to handle over 3,000 transactions simultaneously.

- A request was made by a user to have more platforms list Safemoon in the Middle East. The wallet will help with accessibility all over the world.


- There has been some massive whale dumping.






- Which led to this




- Again... this is a really good thing. That's a pretty good sized burn there. The more we burn now, the less we have to consolidate in the future. We all got some extra tokens from it. One less whale holding an oversized portion of Safemoon. If they panic sold because of Jack and Hank, so be it. There's nothing to panic about and the rest of us are stronger for it. Get in on the discounted tokens while you can!


- The team exuded confidence throughout the entire AMA. The decision to reorganize and swap out some people for those that are better qualified and have more experience is a very savvy decision. There are still a lot of big projects that are coming out.


Thank you to MY 2019 WRX STI for posting this video.
https://www.youtube.com/watch?v=N0WnPjanu5Y