### What is SafeMoon?

SafeMoon is a decentralised finance (DeFi) token aimed at providing a unique approach to tokenomics by integrating reflection, liquidity pool acquisition, and burn mechanisms. Launched in March 2021 on the Binance Smart Chain (BSC), it is designed to encourage long-term investment and reduce selling activities.

### How does SafeMoon work?

SafeMoon works by imposing a 10% transaction fee. Half of this fee (5%) is redistributed to existing token holders as a form of static rewards, and the other half (5%) is automatically added to the liquidity pool. This structure is intended to incentivise holding by rewarding long-term investors and discouraging selling.

### What are the potential use cases for SafeMoon?

SafeMoon's potential use cases encompass staking through platforms like SafeEarn, which allows holders to potentially earn more SafeMoon by staking their tokens. It also includes providing liquidity on decentralised exchanges like SafeMoon Swap, enabling cross-chain transfers via SafeMoon Bridge, and using the SafeMoon Wallet for crypto asset management. Additionally, SafeMoon has applications in DeFi sectors and grander community-driven projects.

### What is the history of SafeMoon?

SafeMoon was created by Kyle Nagy in March 2021 and quickly gained popularity due to its distinctive tokenomics and endorsements from celebrities, reaching a peak market cap of $17 billion in April 2021. Braden John Karony served as CEO, bringing experience from his previous role as a US Department of Defense analyst. However, the project encountered significant setbacks, including legal challenges with allegations of fraud, which culminated in a Chapter 7 bankruptcy declaration and its shutdown in December 2023.

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