SafeMoon
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SafeMoon LLC was an American cryptocurrency and blockchain company created in March 2021. The company created the SafeMoon token (SFM) which traded on the BNB Chain blockchain. The token charged a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The token reached its all-time high market cap in April 2021 of $17b.
Source code
Safemoon.sol safemoon contract Safemoon protocol is a mixture of RFI tokenomics with the added function of auto-liquidity generating protocol. A fork from BEE with some added benefits. First, the dev has minted the tokens - sent the balance to DxSale for fair launch - and then burned the remainder of the tokens. Dev had to partake in presale. Second, utilized the DxSale protocol to foster trust in the community by auto-locking liquidity for 4 years. Simple tokenomics and elegant design and production of token information has catered to the overall success of the project. 100% community owned and driven - no rug is possible. safemoon join us on our journey safely to the moon!
Excerpt from the source-code README · 687 chars · not written by Vinony
Wikidata facts
- Instance of
- software
- Official website
- safemoon.net
Show 3 more facts
- inception
- 2021-03-00
- source code repository URL
- github.com/safemoonprotocol/Safemoon.sol
- social media followers
- 17200
Sources (3)
via Wikidata · CC0
~16 min read
Encyclopedic overview
16 sectionsContents
- History
- 2021: ''SafeMoon version 1''
- 2022: ''Migration to SafeMoon V2''
- 2023: ''LP hack and Fraud Indictment''
- Criticisms and legal issues
- Parallels to a meme coin
- Security issues
- Ponzi-scheme comparisons
- 2022 fraud allegations
- Class-action lawsuits
- Project Pheonix lawsuit
- Liquidity pool hack
- Fraud indictment
- See also
- References
- External links
SafeMoon LLC was an American cryptocurrency and blockchain company created in March 2021. The company created the SafeMoon token (SFM) which traded on the BNB Chain blockchain. The token charged a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The token reached its all-time high market cap in April 2021 of $17b.
The SafeMoon company released a minimal-function cryptocurrency wallet and announced plans to release other cryptocurrency products. The company and the token have been the subject of several controversies: having been compared to a ponzi-scheme, not delivering on products, having multiple class-action lawsuits filed against them, and facing serious fraud allegations. In November 2023, the SEC and the United States Department of Justice charged SafeMoon and its executive team with fraud, the unregistered offering of securities, and money laundering. In December 2023, SafeMoon declared Chapter 7 bankruptcy, and as a part of this process was acquired by the VGX Foundation.
Excerpted from Wikipedia’s “SafeMoon” article, available under the CC BY-SA 4.0 licence.