What is SafeMoon V1?
The SafeMoon Protocol (SAFEMOON) is a community driven fair launch token for Binance Smart Chain (BSC) launched in March 2021 by developer SafeMoon LLC with the goal to create a solid price floor and cushion for holders. Every SAFEMOON transaction is charged a 10% fee, with 5% redistributed (known as reflection) to all SAFEMOON holders and 5% converted to BNB be contributed to the SAFEMOON-BNB liquidity pool (Automatic LP). SafeMoon utilizes a manual token burn strategy as a deflationary mechanism, with burn amounts controlled by the team and promoted based on achievements to further engage and reward the SafeMoon community.
