![]() The other 50% is divided among the SafeMoon liquidity pool and the managers of the overall SafeMoon ecosystem. Like the original version, 50% of the fee is distributed to current token holders. If you hold SafeMoon tokens on an exchange, there’s no need to do anything, the exchanges will handle the migration process and notify you when the process is complete.įor SafeMoon V2, the new transaction fee is 2%. For users with any other type of crypto wallet, visit the SafeMoon Swap site to consolidate. For SafeMoon Wallet users, just update to the latest version of the app and follow the consolidation instructions. Wallet holders need to manually transfer their SafeMoon tokens to the V2 platform. Note that people who hold their original SafeMoon tokens in crypto wallets will not have their coins migrated automatically to V2. This is in addition to any fees you may owe a crypto exchange for facilitating the sale. In other words, if you sold $1,000 of SafeMoon, you would pay a $100 fee on the sale. The most distinctive feature of SafeMoon is that it charges a 10% fee whenever you sell the token. This helped quickly drive up SafeMoon’s value, although as of writing its price has fallen nearly 90% from its peak. Throughout 2021, SafeMoon received celebrity endorsements from the likes of sports blogger David Portnoy, rapper Lil Yachty and YouTuber Jake Paul. SafeMoon is a cryptocurrency token that launched in early 2021, using blockchain technology developed by Binance. Spend some time following crypto online and chances are you’ll hear people talk about a cryptocurrency that’s “going to the moon.” SafeMoon has built its brand on this popular turn of phrase, although there are quirks to this crypto token that make it more challenging to buy (and potentially riskier) than other leading cryptocurrencies.
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