SafeMoon was originally launched in March 2021 by former US Department of Defense analyst John Karony. Safemoon V2 has evolved to be a more traditional blockchain (trade, metaverse and NFT products) with a focus on DeFi. SFM was launched in December 2021. Safemoon’s key goal is to reduce inefficiencies in liquidity pools and agricultural premiums. In liquidity pools, taxpayers suffer from “impermanent losses”. Various features of the Safemoon blockchain include
- SafeMoon’s reflection mechanism adds an incentive for SafeMoon holders to keep their tokens for a longer period
- The automatic LP offers stability to the protocol by providing a minimum price/cushion for token holders.
- SafeMoon’s manual burning mechanism helps SafeMoon token holders in the long run
- SafeMoon charges a 10% fee to anyone who sells their tokens. 5% of this fee is redistributed to all other SafeMoon owners, which essentially rewards those who hold their tokens for longer periods.
Below are the main use cases for SAFEMOON tokens:
- SAFEMOON token holders can earn rewards based on the number of tokens held in their accounts.
- Token holders can participate in the governance of the SafeMoon platform,
- coins can be used to pay for goods via the Safemoon card with transaction fees of 2.5%.
Safemoon
SafeMoon Product Updates for 2023
Below are the products in the pipeline and under development for this year:
- Blockchain Update
- Safemoon’s listing on Binance
- Safemoon Card
- substitution
Below are SafeMoon products that don’t have any more recent announcements, even if they’ve been revealed in the past:
- NFT Market
- Dessonomic
Products that have already been released on the market since the previous year are Safemoon S3wap, Orbital Shield, SFM V2, Safemoon wallpapers, Wallet app and Safemoon Merch and cancelled products include Gambia, wind turbines, pSFM V2 and MoonCraft.
There are very few statistics available on Safemoon’s performance. Overall, we believe Safemoon is not a good investment although it has some niche use cases.
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Will Safemoon reach 1 cent?
Safemoon will have to increase 38 times to reach $1. This can be achieved by a combination of extended use cases and burning already integrated into the system. Assuming 25% growth each year, it would be SFM 17 years to reach $1. We believe it is impractical for SFM to reach 1 cent because it does not have the use cases or recent growth performance to sustain the growth that will be needed to rise to 1 cent.
Safemoon Prediction Price $1
SAFEMOON needs to grow by about 3,703 times its current market value, to reach a price level of $1.
In addition, Safemoon’s all-time highest price is $0.003 which it reached in January 2022. Note that the Safemoon cryptocurrency has grown 3 times in a month (i.e. from the lowest value of $0.001 in December 2022).
So, considering its 3-fold growth in a month, we can say that Safemoon needs a minimum of 1,234 months (more than 102 years) to reach $1.
Therefore, it is not very practical for Safemoon to reach $ 1 in the near future because economic factors (such as inflation and liquidity) will also affect its price in the future. So, the Safemoon cryptocurrency cannot reach 1 dollar.
Safemoon Price Forecast 2023, 2025 and 2030
Safemoon Price Prediction 2023 is $0.000456
Safemoon Price Prediction 2025 is US$ 0.000913
Safemoon Price Prediction 2030 is US$ 0.00479
Safemoon Reddit Discussions
In a more recent thread on Reddit, a user posted that “Safemoon is not a scam.” The post also states that SafeMoon is one of the best crypto communities the person has been involved in. Let us analyse the debate.
In this thread, one user wrote that he had invested more than $20k in SafeMoon and now he only has $500 left. Another user commented that it will only be positive with SafeMoon when the liquidity is returned and the creators of Safemoon create more than one login mechanism with the system.
One user even wrote that Safemoon has huge potential as a technology company.
SafeMoon tokenomics
SafeMoon tokens have a maximum supply of 1,000,000,000,000,000 tokens and of these, almost 56% of SAFEMOON tokens are in circulation (i.e. 561,996,398,098,324 tokens).
