Updated: Apr 21
Launched on Mar. 8, 2021 SafeMoon Protocol is a decentralized finance (DeFi) token.
According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition, and Burn.
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol.
The SafeMoon protocol, according to their white paper, works in the following way: in each trade, the transaction is taxed with a fee of 10%, which is cut in half.
While 5% of the fee is redistributed to all of the token holders at the time, the other 5% is then split in half again, with 50% sold by the contract into BNB, and the remaining 50% automatically paired with the aforementioned BNB and added to PancakeSwap as a liquidity pair.
If you don't understand what any of that means, don't worry, neither do I.
It's a good idea to get SafeMoon Token now because of the fact that it's difficult for most people to buy. Get in early before it hits the major exchanges.
Here's how to get SafeMoon
First, you'll need to get Trust Wallet
IMPORTANT! When you create your wallet, it will give you a passphrase to save and re-enter. Make absolutely certain that you save this passphrase somewhere safe, and label it accordingly. If you forget this phrase you could get locked out of your wallet forever.
If you are on iOS you will have to manually open a separate link to get the DApp browser
DApp is Trust Wallet's built-in browser that you need to access PancakeSwap.They had a problem with the iOS app store so they had to remove the browser but there's a way around that.
For iOS users, open Safari Browser and then type in the URL: trust://browser_enable, then tap on Go.
Transfer your BNB to your Trust Wallet
*This can take a while and Binance.US has been having a delay with this
so if you have trouble just keep trying.
You can also use USDT (Tether), ADA (Cardano), and BAT (Basic Attention Token) for example get SafeMoon. BUT, you will still need BNB.
Once your BNB (or whatever coin you use) shows up in your Trust Wallet goto DEX (bottom of the menu) and Swap your BNB for Smart Exchange BNB
Go to your DApp browser and search for PancakeSwap
Connect PancakeSwap to your Trust Wallet
From: Select BNB (or whatever coin)
To: (Type) SafeMoon
Change Slippage Tolerance to 11%
*Update - PancakeSwap tells you to set slippage tolerance to 12% now*
Boom! Now you have SafeMoon
UPDATE: make sure you go to the manage tab on the top right of Trust Wallet to select SafeMoon because the default does not display it.
UPDATE 2: The transaction can take a few minutes so once your purchase goes through don't stress out about it! It's all good, these transactions take forever sometimes.
UPDATE 3: Binance has suspended withdrawls of BNB and many other coins for the time being, apparently the hype backlogged their withdraw system. Theres a way to still get SafeMoon on Bitmart though. Im not a fan and dont really trust it, but if you're willing to risk it, you can send XLM (Stellar) or USDT (Tether) to Bitmart and buy SafeMoon directly there. Anyone with a Coinbase account can do this. I would reccomend sending your SafeMoon to Trust Wallet once you get it there.
I hope you enjoyed this blog post and that at least one thing listed here was helpful to you. I am not a financial advisor so please make sure you do your own due diligence in all these matters. Take care