This crypto bull run has shown many similarities to what happened in the 2017 run-up. In that cycle, cryptocurrencies seemed to be sprouting out of the ground at an alarming rate.
- SafeMoon is a BEP-20 token launched on the Binance Smart Chain (BSC) ecosystem on March 8, 2021.
- SafeMoon is built to have three core components:
- The first is the “reflection” where SafeMoon transactions are charged a fee that gets distributed among holders of the token.
- The second is a fee charged on transactions that will be given to various liquidity pools on Pancake Swap and other platforms.
- The third is a token burn that occurs on each trade.
- The creators of SafeMoon do not seem to have any proven track record in the field.
- SafeMoon is built on the Binance Smart Chain which uses proof-of-authority as its consensus mechanism.
- In proof of authority, the block creators are known as validators. These validators are pre-approved and chosen by Binance, making the…