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SafeMoon (SFM) AMA Transcript

Q: How did the creation of SafeMoon come to exist? What inspired you to take this project onboard?

A: Current market and coins had no incentive to hold beyond price action for the most part — we reward that with tokenomics. When we all founded this token, we wanted to create an innovation in the space. There is no roadmap for what we are doing, and SafeMoon is smashing through the proverbial walls in the crypto space. Knowing that we wanted a token with the right combination of reflection, burn, and liquidity, with the flexibility to make strategic moves to continue SafeMoon past the moon.

Here is the tokenomics breakdown:

SafeMoon is a hyper-deflationary reflection token with an inherent burn. There is a 10% fee that includes ALL SWAPS AND TRANSFERS. The 10% fee is broken down as such:

- 5% is reflected back to the ALL EXISTING HOLDERS ON THE BINANCE SMART CHAIN

- 5% is converted into liquidity pool tokens and added to the overall liquidity available on the Binance Smart Chain.

- INHERENT BURN: burn address is receiving reflection rewards, the same as any other user wallet is getting reflection rewards on the Binance smart chain. Right now, based on the number of tokens that have been burnt, at this time, the burn address is getting 41% of the total reflection on each transfer. The burn rate is dependent on volume.

Other exchanges are implementing tokenomics as well. However, they will be slightly different in terms of when reflection happens during their phase 1 integrations. WhiteBIT does not support tokenomics at this time. However, we requested they do so soon.

Q: Sometimes, new projects develop excitedly well at first but struggle to maintain that momentum. How will you manage and develop your position in the market?

A: Like any new business, Crypto or not, there are many challenges that present themselves. We maintain and improve our position and efficiency by having great internal and external communication as well as building the SafeMoon team as we expand and reach new heights.

Q: How do you intend to get into the African market, and what do you believe the potential for growth is in Africa with regards to Crypto?

A: Like every one of our projects, the majority of work is already underway, and we will continue to give updates on our Sunday AMAS as progress is made. To answer the second part of this question, it’s better to state how much room for growth crypto has globally. As everyone is aware, it is still so new! In nations with lower numbers of crypto adoption, there is definitely more room than others to grow; however, the ceiling is still very high on a global scale. Stay tuned for Operation Pheonix.

Q: Does Safemoon have any plans for future charity projects coming out of Africa?

A: This is a great question! We are continuously looking for ways to benefit all kinds of communities and causes, and when it comes to Africa, this is just as important. Our large vision for Africa is a way for us to focus on a much bigger scale and hopefully make a positive difference we would like to see in the world.

Q: What was the main reason for burning tokens?

A: There are many reasons to incorporate token burning into a smart contract. SafeMoon is a hyper-deflationary DeFi token. In short, the burn helps to increase demand by decreasing supply.

Q: Besides the great community, What do you think separates Safemoon from other BSC tokens?

A: SafeMoon has the flexibility and the foresight to make strategic moves to get us beyond the moon. While other tokens remained anonymous in their identities, the SafeMoon team wanted everyone to know who was behind the innovation. We believe in accountability for actions. That is why we went public with our identities. We put our faces to the project and stand by the accomplishments of both the team and the community.

Q: Share with us your plans for the future. What goal do you want to achieve, and what future developments would you like to make to SafeMoon?

A: You can check our Twitter @SafeMoon and the website safemoon.net, where you can see that we have many things in development. One of the big ones is the SafeMoon Exchange that will be a big innovation in the exchange space. Imagine the same tokenomics benefits that SafeMoon holders enjoy but across all of your cryptos. Pancake swap and other exchanges outside of WhiteBit support Tokenomics. Tokenomics are not directly supported on WhiteBIT currently, however those on the Binance smart chain aka trust wallet and PCS, still receive reflection whenever WhiteBIT pulls liquidity from PCS to enable transactions or when transactions go to whitebit from the Binance smart chain.

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