SAFERmoon is an audited, vetted, and trusted static rewards token that benefits investors who hold. 10% trade fees provide a combination of rewards to token holders and liquidity.
Why we Created SAFERmoon
We'll cut straight to the point. You might be familiar with the project "SafeMoon Protocol," which claimed to create a price floor by locking staked tokens in a liquidity pool that was inaccessible by their team. Well, it turned out that the devs owned and could access the wallet that stores these pairs. This means that the team at SafeMoon Protocol could destroy their coin's value at any moment. While the SafeMoon team has argued that they can be trusted, we believe that code should not be exploitable.
This is reflective of a larger problem in the crypto space and the BSC space in particular. Trust is a valuable commodity, arguably more valuable than any single coin or project. A trustworthy project will attract ethical investors, who in turn will support the project's growth.
We decided to build SAFERmoon because we're tired of spending hours vetting investment opportunities only to find that the vast majority are not safe investments. We founded SAFERmoon with one goal in mind: to forge a definitive roadmap for proving that a project is trustworthy through solid code and provable actions - not empty promises.
Utility before Marketing
We don't shy away from flashy marketing, but our development efforts are primarily centered around adding real utility for SAFERmoon holders over time. If you are looking for a pump-and-dump memecoin, that's not us.
Utility will come in three primary categories:
- SAFERmoon is already the first static rewards token on BSC to offer fee-free staking. When we have staking pools available, you can park your SAFERmoon tokens there to earn additional rewards on top of the normal reflection rewards. We will also soon be offering LP token staking, where holders will receive BNB for creating additional liquidity with a BNB-SAFERmoon pair.
- Voting will be a big part of SAFERmoon's future. Holders will be able to vote using their SAFERmoon tokens on new initiatives, such as token launches, marketing programs, and charity contributions.
- The most significant utility will be SAFERmoon's SAFER Launch platform. This is unlike any other launchpad in BSC, which are just glorified staking pools. Our launchpad will offer the ability for project owners to launch and manage safer tokens via our website (more on this later in the whitepaper).
SAFERmoon's Contract is Actually Safer
The most vulnerable portions of SAFERmoon are automated. "Vulnerable," in our case, means open to manipulation. By relying on automation that cannot be altered post-launch, we set out to assure investors that the project is safe.
Crucially, SAFERmoon's fee percentages are timelocked and cannot be altered by anyone without allowing investors time to see and review any changes. This prevents unethical behaviors we've seen many times in the past, such as abruptly changing the fees to unfairly reward devs. Additionally, max fee limits ensure that fees cannot EVER be raised above a preset threshold, something devious project owners will sometimes do to siphon money from their investors.
When SAFERmoon is bought and sold, a 5% fee is removed with each transaction and redistributed to existing SAFERmoon holders. Those who decide to hold their SAFERmoon are rewarded over those who sell, while arbitrage traders are discouraged from exploiting the platform. Unlike investors in a traditional yield farm, SAFERmoon investors need take no action to collect additional SAFERmoon. All investors need to do is hold.
An additional 5% fee is taken for each transaction, half of which buys BNB. This BNB is combined with the remaining half to stake a SAFERmoon-BNB liquidity pair on Pancake Swap. Think of this automated mechanism as the keel of a sailboat, which provides stability in rough seas. The rough seas in this case would be volatile traders, while the keel is the increased liquidity that results from this fee. By growing a stable liquidity pool with each transaction, the overall stability of SAFERmoon should actually become more resistant to manipulation over time.
The above described transaction is called the liquidity swap. This swap doesn't happen on every transaction. There's a threshold that triggers liquidity to be added automatically by the contract.
This threshold of 500 billion tokens cannot be altered in SafeMoon's contract, but it can be changed in SAFERmoon's contract. When the threshold is reached, 250 billion tokens are sold for BNB. With a small market cap of a million dollars, 250 billion tokens are worth very little. But at a market cap of over $2b, each sale is worth a million dollars or more. This negatively impacts SafeMoon's chart. Big red candles caused by automated liquidity swaps can trigger panic selling, leading to even more red candles.
This is why the SAFERmoon can lower the threshold for the swap, which we have already done once, from 500 billion to 50 billion.
Also unlike SafeMoon, SAFERmoon's LP tokens generated by the swap are not accessible, not even by the team's developers. They live in a wallet that has no owner. Whenever new transactions occur, the coins are sent into this inaccessible wallet. This completely eliminates any worry that the guaranteed liquidity can be removed.
An audit's importance cannot be overstated. Over the years, we've learned that a thoroughly-audited project is far less likely to behave unexpectedly in ways that harm investors than one that has not been reviewed. This might sound like an obvious statement, but a surprising number of projects are not audited, or are not audited by trusted entities.
What is an audit? An audit is essentially a review of the project's code by an expert or experts. Auditing firms employ individuals with explicit experience around the types of projects they are reviewing. If the expert catches an error in the code - whether intentional or not - he or she reports it to the developer. The developer can make the suggested changes or not. If not, a red flag will be added. If the changes are made, the audit history will reflect the error as well as the correction.
The reality is that not every investor can read Solidity code. An audit makes reading the actual code unnecessary because the code is reviewed and commented on by an expert. The SAFERmoon contract is heavily audited by experts employed by members of BSC's most active Telegram channel, BSC Gemz. In fact, it is the first RFI project on BSC to pass this level of scrutiny, and we are committed to maintaining a clear audit trail as the project progresses.
Their trusted auditors look for 3 things:
- Errors in the code that could lead to security vulnerabilities.
- Whether the code reflects the stated intentions of the developer. For example, if the developer claims that a 5% fee is redistributed to token holders, does the code reflect this reality?
- Is the code efficient? Can it be improved to lower gas prices and other overhead that would slow down trading?
Burning and Distribution of Dev Tokens
One place where we thought it wise to retain manual control is in the burning of the dev portion of tokens, at least in the months following launch. Burning dev tokens will increase SAFERmoon's value for existing holders by limiting the supply of tokens. This is common practice across most tokens.
We want to tie burn events to milestones we discuss with the community. For example, we initiated a burn after the first thousand investors. By remaining flexible in this area, we can incentivize rapid growth, which will benefit all investors in the SAFERmoon token.
That being said, we must also be safer. The dev tokens will soon be owned by a timelocked contract, and investors can see in advance how many tokens are being sent to which locations.