SafeMoon is a new cosmic-themed cryptocurrency that has seen a surge in popularity after meme tokens such as DogeCoin and Shiba Inu. The coin came into existence a few months back in March and has seen a 200% price growth since then.
SafeMoon is one of the fastest-growing cryptocurrencies, which according to the creators, has a resistance against the volatility of the crypto market. It is an unusual cryptocurrency that discourages day trading by charging a 10% fee on every sale transaction. So clearly, SafeMoon is a unique addition to the cryptocurrency list and needs to be explored more.
What is SafeMoon?
SafeMoon is an altcoin based on blockchain technology with some similarities and distinctions to Bitcoin. Over 2 Million people have already invested in the coin since it came into existence two months back.
A unique feature for SafeMoon is the 10% charge on selling the token. 5% of this charge is redistributed among the SafeMoon owners, which essentially incentivizes users to hold the token for more rewards.
“The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much,” SafeMoon explained about its currency.
The SafeMoon team consists of six leaders, with John Karony as the CEO, previously an analyst for the U.S. Department of Defense. The team also includes Thomas Smith as CTO and Trevor Church as the community manager.
While Smith has worked for different blockchain platforms the past two years, Trevor Church works on an independent video game studio called TANO. Apart from them, the team includes Jack Haines-Davies as chief operating officer.
What does the future hold for SafeMoon?
SafeMoon has already prepared a road map for the year. According to the roadmap, the company will double its team and start a marketing campaign in the first quarter, followed by the SafeMoon app, wallet, and games launch. The next logical step will be to list the token on crypto exchanges such as Binance and grow its user base.
However, as the coin is relatively new, its use cases and functionality are still unknown and will only be revealed with time.