The burgeoning cryptocurrency industry regularly witnesses upgrades and changes seeking evolution with time. Recently popular decentralized exchange platform SafeMoon announced a significant change expected to bring meaningful developments. The firm announced the release of SafeMoon Token Monetization Innovation (TMI).
The recent upgrade came in the wake of developing a crypto and decentralized financial (defi) technology. SafeMoon TMI would facilitate superior user experience given the innovation token economics.
According to SafeMoon, any transaction on decentralized exchange makes the user perform several tasks including ascertaining the operation fees and also check the expected amount to receive. Multiple tasks from planning and predicting the transaction, executing trades over different decentralized exchanges (DEXs) needs to consider several variables scattered all over in order to estimate the actual fees.
For token suppliers as well the tokens, extracting liquidity pool fees has an impact which ends up creating ‘a downwards sell pressure.’
SafeMoon in order to mitigate the challenge on SafeMoon SWap, its own decentralized exchange, went on to partner with an expert of Artificial Intelligence (AI) and Blockchain tech. Dr. Adel ElMessiry joined with SafeMoon for the initiative of creating SafeMoon TMI.
The newly created ‘patent-pending invention’ is said to handle several operations. Such as “The exchange fees are charged upfront in the chain native token, freeing the entire swapped amount to be exchanged while preserving the liquidity pool.”
Another objective it is expected to fulfill is “To accomplish pre-transactional transparency, the system adopts novel smart contracts in interacting with token liquidity pairings within the SafeMoon decentralized exchange community.”
By making token inclusions more accessible to token liquidity providers and unlocking additional community potential to partner with meaningful projects, the SafeMoon TMI alters the decentralized exchange landscape and opens up new access for token partner listings, essentially increasing the number of participants in Web 3.
The SafeMoon TMI is an illustration of a paradigm change in industry maturity as SafeMoon attempts to elevate the bar for this industrial sector. This release adds upfront and automatic fee appropriations to the decentralized exchange scene, bringing new levels of transparency and transaction predictability.
Source: https://www.thecoinrepublic.com/2022/12/31/safemoon-seeks-innovative-tokenomics-through-token-monetization-innovation/