Cryptocurrency is now becoming trending in a matter of financial system. People say that cryptocurrency is the future of money. What makes people so convinced about this is because transactions using crypto are considered faster, safer, and simpler. Some people also consider crypto as an investment. Look at Bitcoin, 10 years ago, 1 Bitcoin was only worth no more than 1 USD. 11 Years later, Bitcoin has reached higher than 40.000$.
Since Crypto now trending, and start to have multiple utilities, many developers are joining the hype. Say like Safemoon crypto which is derived from “safely to the moon”. Lead by John Karony as the CEO, Safemoon succeeded in gaining popularity among other cryptocurrencies.
What is Safemoon?
Safemoon is said to be the future of Defi Token. Based on Safemoon website, this token has 3 main functions, those are burn, reflection, and LP Acquisition. Unlike any other decentralized finance, Safemoon has the idea of static rewards (incentive) which is easier to be understood by a newcomer in the crypto world. What it means by static rewards is people who hold Safemoon token in their wallet will gain more and more Safemoon based on the volume of Safemoon that is being traded.
Static rewards come from the tax of each trade. Safemoon charges 10% of each trade and then distributes it to all Safemoon holders. That 10% then divided into 2, 5% will go into liquidity pool, and the rest will go to all Safemoon holders. According to Safemoon developers, this will also help to make the price more stable in case some investors sell a big load of Safemoon.
Is Safemoon Good Investments?
According to the Safemoon crypto site, this token has been a very ambitious project until the end of the year. The biggest project is the Safemoon wallet which gains hype from all over the world. If you trust Safemoon and the developer’s hard work, then it is your call to invest. But remember this, invest what you can afford to lose because, in the crypto world, no one can 100% predict the price.