Who created SafeMoon Crypto?
After bitcoin became popular, lots of other crypto coins started being created and developed one by one. SafeMoon is one of the crypto coins that was created in March 2021.
And it became a hype after its introduction in the crypto market. This new crypto coin was launched in the ecosystem of the Binance Smart Chain (BSC). It is a centralized BEP-20 De-Fi token, and it uses proof of authority as its concord apparatus. The creator of the blocks in the proof of authority method is known as validators. All these validators are selected by Binance itself and pre-approved; therefore, it makes this particular token centralized.
Creators of SafeMoon
As the name SafeMoon suggests, it expands to “Safely to the Moon”. It has a total stock of 1 quadrillion tokens and a market capitalization of 2.9 billion. It ranks 202 among crypto coins according to the coincapmarket. There are a total of 6 people who are part of the SafeMoon team. They are John Karony (CEO), Thomas Smith (CTO), Hank Wyatt (Dose), Jack Haynes (COO), Trevor Church (Community Manager), Jacob Smith, their web developer. Except for Hank Wyatt, nobody has a four-year degree, although they have enrolled in the colleges and universities. Therefore their background makes us question the credibility of SafeMoon. And we also can’t decipher much information from their LinkedIn profile except for their work experience. And most of them have worked together as a team and created different projects and also a game development company.
What exactly is SafeMoon?
SafeMoon is created to rival Ethereum’s decentralized finance (Defi) ecosystem. It consists of a centralized finance (Ceci) ecosystem. After it arrived in the crypto market, it has become Binance’s third most valuable token by market capitalization. SafeMoon has three core structures. The first one is named reflection; this suggests that the buyers of SafeMoon tokens are charged a fee that gets allocated among the rest of the token holders of SafeMoon. The second component is called pancakeswap, where another fee is charged, and that fee is also redistributed among other platforms. The component is named as token burn, and with each trade, token burn occurs.
Investing in SafeMoon
Investing in SafeMoon should be an investor’s personal decision. The credibility of SafeMoon depends on Binance, the team behind SafeMoon, and its community. Investors should find out how much control Binance has over SafeMoon and act accordingly. Also, we need to keep in mind that SafeMoon’s team does not have had any previous major success.
Like other emerging cryptocurrencies, SafeMoon has made its place very rapidly, but the question is that can it sustain itself and how much popularity can it gain? Because once the public interest is lost, it will also affect the value of SafeMoon tokens.