Binance safemoon
![binance safemoon binance safemoon](https://i.ytimg.com/vi/lWULXSNSv8s/maxresdefault.jpg)
SafeMoon is a very unusual digital currency as SafeMoon imposes a fine on anyone who tries to trade their safemoon coins (or “tokens”). Safemoon is a DeFi token that allows peer-to-peer trading. You can also buy Safemoon from a centralized exchange like BitLink, which lists Safemoon for sale. If you already have a wallet on Binance Smart Chain, getting Safemoon is as easy as trading it for any other token in your decentralized exchange (DEX) wallet like PancakeSwap. Buy Binance Coin (BNB) in your wallet and exchange from Safemoon to a DEX like PancakeSwap, or buy Safemoon directly from a centralized crypto exchange and transfer Safemoon to your wallet. You can then purchase Safemoon tokens using Defi apps such as PancakeSwap. You can use Safemoon to trade other tokens on decentralized exchanges (DEXs) such as PancakeSwap on BSC. If you connect your crypto wallet to PancakeSwap, you can trade Binance Coin with Safemoon and vice versa. The remaining 5% is used for the liquidity pool with Safemoon and Binance Coin (BNB). The remaining 5% of the transaction fee goes to liquidity pools at PancakeSwap, with 2.5% of the 5% being converted to Binance Coin (BNB) to provide SafeMoon (SFM) token liquidity. Through this mechanism, fans who own a token are rewarded with static rewards, while those who sell their SAFEMOON tokens are discouraged from constantly selling.Įach transaction of the SafeMoon BEP-20 token of the platform charges a fee of 10%, so 5% of the fee is distributed among SAFEMOON holders, and the remaining 5% of the fee is divided into two parts. This feature implements the token burn strategy for the BEP-20 SafeMoon token platforms so that the supply of tokens is reduced to increase their price and demand. The SafeMoon protocol works with the BEP-20 SafeMoon token, which works with a combination of automatic liquidity generation and reflection tokenomics. SFM (formerly known as SAFEMOON) is a BEP-20 compliant token launched on Binance Smart Chain, a blockchain platform that uses a Proof of Authority (PoSA) model as its consensus mechanism. New to the industry, SafeMoon (SFM) is a decentralized finance (DeFi) token created in March 2021 by John Caron. SafeMoon crypto is a cryptocurrency token created on the Binance Smart Chain blockchain in March 2021. SafeMoon uses the BEP-20 token standard based on Binance Smart Chain (BSC).
![binance safemoon binance safemoon](https://i.ytimg.com/vi/DJNvpdFakX4/maxresdefault.jpg)
It doesn’t have its own blockchain technology its supply is managed by smart contracts on Binance’s internal blockchain. Safemoon is a token on Binance Smart Chain, not a coin on the Safemoon Blockchain.