2022-06-01
John Karony, the CEO of SafeMoon took to his official Twitter handle and announced to his more than 363,000 followers that “final stages and preflight checks are done”, on Tuesday, just a few hours into the month of June. By this, he meant that the new SafeMoon feature, which is the swap and evolve feature, is ready to be deployed. SafeMoon has launched lots of products for its vibrant and engaging community members. Why did the SafeMoon team decide to launch this product during a bear market?
At press time, the SafeMoon token which is a decentralized finance token is trading at a price of $0.0000021 and it is down by 0.67$ in the last 24-hours trading volume. You can use the Gate.io cryptocurrency exchange which is your gateway to the world of cryptocurrencies. It is one of the top exchanges where you can buy the SafeMoon tokens. Although the general cryptocurrency market started on a bullish note this week and we hope to see the bulls are able to sustain their victory till the end of this week.
Revolution Of LP Generation By Swap And Evolve
There have been more than 240,000 requests for the swap and evolve in less than 24-hours according to the data of site traffic metrics obtained from SafeMoon’s official Swap and evolve. It has been on the increase, could this mean bullish for the SafeMoon token?
According to the SafeMoon website, the swap and evolve product is an evolution of Swap and Liquify. Swap and liquify collected a percentage of SafeMoon via its 10% tokenomics fee.
Furthermore, when it is triggered, It splits the 500B/M SafeMoon down the middle, turns 250B/M SafeMoon into BNB, and then pairs them together adding to the liquidity pool. Now from face value, this seems great because it is essentially providing more liquidity to the liquidity pool. However, it has a trade-off because, when half of the SafeMoon is turned into or swapped for BNB it decreases the token value, negatively impacting SafeMoon’s token growth.
So to navigate this negative impact, Swap and Evolve is an evolved state of Swap and Liquify. The basic premise is to remove the negative impact and instead apply a positive one. This is achieved via two functions on the SafeMoon Contract which are;
- Collect BNB
- Swap and evolve
Collect BNB
It does this by collecting SafeMoon. The SafeMoon token is the Swap for BNB. This native coin is then stored until the set trigger value of swap and evolve is reached.
Swap and Evolve
Once the contract has collected and stored 132.32 BNB, the swap and Evolve function will be manually triggered. This trigger will take the set value collected of 132.32 BNB and purchase -on the open market- 66.16 BNB worth of SafeMoon, pair that 66.16 BNB worth of SafeMoon with the remaining 66.16 BNB, and then place that into the liquidity pool.
Therefore both functions work in conjunction to solve the problem of swap and liquify. The SafeMoon team is always looking for ways to ensure they give the community members the best and we hope this swap and evolve feature will be bullish for the community members.