NEW YORK, NY / ACCESSWIRE / June 14, 2021 / Members of the BSC community recently launched Safemoon Cash, which is a rug proof project operated on The Binance Smart Chain. The ownership of the project is fully renounced and it is currently a community driven project. The crypto bull season brought several opportunities along with it as Bitcoin and several alt-coins rose to new all-time highs. As with every bull season, new crypto projects with potential to become the choice of the majority as new use cases found many takers. The most prominent among these are community-driven projects and meme currencies. One such community-driven project to make all the right noises is Safemoon Cash, a Binance Smart Chain-based community-driven project, which complements Safemoon.
Binance Smart Chain has also become a success story of its own and is now being pitted against the Ethereum network as well for its smart contract and Defi support for a cheaper transaction exchange method. As the Ethereum network has become costlier to use, the bull seasons native chain gained a lot of traction for the same functionalities. At one point it was processing 4 times the transaction of the Ethereum network. Essentially, smaller transactions in comparison to larger investments are extremely difficult to send from wallet to wallet. Sending $10 in the form of any ERC-20 token can cost upwards of 400% of the transaction fee. Why would anyone spend $50 just to send $10? That is the issue with Ethereum.
Safemoon Cash's Use Cases Make It Valuable
Safemoon Cash was stealth-launched by members of the BSC community in April 2021 after Safemoon reached a market cap of over four billion dollars. With its higher transaction tax, the early holders of Safemoon have profited most. In contrast, Safemoon Cash gives holders passive rewards through static reflections. By staking Safemoon Cash in a pool, it raises capital, ensuring liquidity. Safemoon Cash believes in superior tokenomics, through a 3% lower taxation, and the fact that ownership of the smart contract is fully renounced making the project more unique.
The Safemoon Cash project derives its utility from being a rug-proof project that has exploded to popularity within two months of its launch. The project is currently live on PancakeSwap, XT, Probit, Bibox, and HotBit. The project recently launched the swapping function via BSC Dex PancakeSwap, and now has its own SMC Swap. swap.Safemooncash.org The project's renounced ownership added with an outstanding tokenomics gives it the utility. The project has garnered over 235K user base holders within 6 weeks of its official launch, making Safemoon Cash one of the fastest-growing crypto projects in history.
The great thing so far about Safemoon Cash is not just being an awesome project, but the strong team and healthy community behind it. The project has been audited twice, which reflects the project's proven rug pull-proof claims.
Some of the key project functionalities in the tokenomics of the project that makes it so suitable and valuable include,
- 4% transaction tax: Safemoon Cash is built on strong tokenomics. Every Safemoon Cash transaction incurs a 4% tax to the benefit of all.
- 2% distributed to all holders: 2% automatically to liquidity. 2% of each transaction is locked away in the Safemoon Cash liquidity pool to create a steadily rising price floor.
- The transaction limit is 490,000,000,000,000 SAFEMOONCASH.
- Total supply is 100,000,000,000,000,000 SAFEMOONCASH.
Tokenomics is the necessity to handling inflation and deflation with cryptocurrency. A good project with infinite supply would eventually perish to inflation. This is where Safemoon Cash combines the best of both worlds; A well-audited market supply with burning functionalities to help it beat token inflation.
Whales holding a significant portion of supply could be a cause of worry for any project as they can initiate a pump and dump scheme at any given time. Safemoon Cash's whales are different due to no particular holder owning more than 2.5% of the total supply.
After the stealth launch, early participants pumped and dumped the market capitalization from 1.2M to 200K. Safemoon Cash however quickly started growing organically with loyal investors, who all have been sharing the same goal of reaching 25% of Safemoon's market cap.
Safemoon Cash's tokenomics are strong and revolutionary in the form of a total of 4% tax on each transaction. A good analogy is comparing the evolution of opposable thumbs within primates; The project has a greater grip on a global purpose for cryptocurrency as it relates to humanity. If everyone on earth held a Safemoon Cash wallet for usage in daily transactions, people in first-world countries would be contributing via redistribution into user wallets of third-world regions like Africa through each transaction. This would create a direct charity to individuals rather than an indirect charity to foundations. Safemoon Cash, being a BEP-20 token combined with its tokenomics, is like rims and tires in comparison to the first stone wheel of Bitcoin.
The Road Ahead
In Q3 of 2021, Safemoon Cash will introduce the Safemoon Cash Governance token (SMCG) and the Safemoon Cash Governance interface. SMCG holders can help shape the future of Safemoon Cash by influencing decisions concerning the project, such as proposing or deciding on newly featured proposals (i.e. MOONMAP, hiring and staffing, charities, and changes to governance parameters). Safemoon Cash is 100% community driven and with SMCG, therefore the community is in charge. Additionally, it will deploy the Yield farming protocol: Farm SMCG using Safemoon Cash in the Safemoon Cash Bank. This will lock up Safemoon Cash, thus decreasing selling pressure and increasing liquidity.
In Q3 and Q4 of 2021, the community-driven project will focus on developing use cases for Safemoon Cash as an adoptable currency. Safemoon Cash will eventually be one of the most used cryptocurrencies for use inside and outside the ecosystem. It will introduce the Safemoon Cash Casino where users can gamble with the SMC(G) token. Additionally, the project will develop a betting protocol specifically for the Twitch gaming industry using the SMC(G) token for rewards in competitions. Safemoon Cash will ultimately be integrated with online crypto payment services.
SOURCE: Safemoon Cash