![]() ![]() Once upon a time, that was sort of all there was to it, with no real-world functions. ![]() ![]() Safemoon also has a big “selling tax” and part-redistributes to owners. This creates demand and, in theory, means its price will go up. Deflationary is the opposite of inflationary, meaning that the number of coins in circulation decreases over time. In its original form, it didn’t really do a lot beyond exist as a “deflationary token”. Safemoon protocol is a decentralised finance (DeFi) token, often abbreviated to SFM, which was created on Binance’s blockchain. The new surge of interest comes as Safemoon announces a load of new features, following a steady rise in value for a token that has naturally pricked people’s ears. The account has 1.4m followers and, during its first peak, Jake Paul and Lil’ Yachty were among those to have jumped on the bandwagon. On Twitter, it’s currently the ninth most popular crypto coin, despite being ranked 3020 th in terms of market cap. Recently, the Safemoon community has become something of a cult, ever-present across social media. But this all-time high quickly settled down, as the coin slipped off most people’s radars… Even in crypto terms, this value increase across a month and a half is ridiculous. Meanwhile, a hundred quid investment would’ve reaped £23,325. If you bought £1 of Safemoon on 9 th March, that would have increased to £233.25 by 21 st April. Safemoon was first created in March 2021, but you probably first heard about it in April 2021, when the crypto token rocketed in value by a parabolic amount. ![]()
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