The New Features of SafeMoon V2 Update
One of the biggest declinatory meme-token on the market is SafeMoon. It was launched in 2021 as a cryptocurrency that encourages long-term investments thanks to its protocol that allows you to earn more SAFEMOON depending on how many coins you hold. Furthermore, SafeMoon functions during each trade are LP Acquisition, Coin Burn, and Reflection.
Yet, SafeMoon V2 (SFM) update was released in December 2021. It is eligible to expand and introduce new features to the old project. What are those features? Why should you invest in SafeMoon V2? What is SafeMoon price prediction? Read the article.
Using the first version of SAFEMOON, you would have to pay a 10% fee for selling your assets. That is how creators wanted to decrease volatility and encourage people to hold SAFEMOON rather than trade it. However, the release of SFM enables the utilization of smart contracts on the blockchain. It happens because the V2 update decreases the selling fee from 10% to 2%.
According to the creators, the huge fee decrease will boost the number of new clients. This way, SFM owners will receive more freedom in managing their assets. Furthermore, such changes might help the creators integrate new products with SFM as fuel.
Another feature of a SafeMoon V2 Update is better security. Originally, SafeMoon faced an accusation of abandoning the idea of distributing a part of a seller fee to the liquidity pool. Instead of complying with the stated goals and locking up those assets, they were accessible to SafeMoon founders, as investors claimed. Such accusations have damaged the project’s reputation and decreased the number of investors.
So, the new release aims to fix it and enhance project security. The protocol of SafeMoon V2 will make the network more responsive to potential threats that interact with its smart contract. Moreover, it can neutralize such threats by blacklisting them.
The SafeMoon V2 will preserve the three most important features of the original version with some updates. In particular, the coin burn process will continue as it was before. Also, there will be a more automated LP contribution process, and the new investors will continue to earn passive rewards through static reflections.
However, the updated SafeMoon version will try to address the second part of its mission, which is expanding and channeling its technologies. According to SafeMoon V2’s ambitious roadmap, the following steps include developing SafeMoon hardware and software wallets, the SafeMoon Card, and even the crypto exchange.
The creators expect that such products will increase the real-world utility of SFM.
Given the much lower selling fees SafeMoon V2 offers compared to the original version, the trading volume of SFM had to accelerate. Another trigger for higher trading volume was expected to be the higher utility of SFM. Yet, the current SFM trading volume does not exceed $1 million, which is low. Still, a low trading volume seems to be temporary and is caused by a few reasons:
- The novelty of the release
- Insufficient coverage by exchangers
- Many products are still under development
However, all the above factors are temporary and will disappear during the following month.
According to the new protocol, the SafeMoon V2 will be self-governing. It means that every trade of SMF will contribute to the auto-generating liquidity pool. At the same time, the previous version of Safemoon required manual management.
Such innovation is eligible to bring more autonomy to the network, and no one will be able to interfere.
If you compare SAFEMOON and SFM in a nutshell, they seem alike, but after taking a closer look at the protocol of SafeMoon V2, you will see that the five major changes described above made SFM a completely new asset.
SafeMoon V2 is no longer oriented toward decreasing volatility or stimulating long-term investments but focuses on the broad adoption of SFM. Notwithstanding that the new version remains in the shadows, many experts expect a rise in the future.
Also, it might be problematic to buy SFM now due to a few exchangers that offer SafeMoon V2. So, you should take a look at the Godex exchanger, where you can easily swap for SFM.