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Do we finally have a release date for the SafeMoon Exchange? Well, there’s only one way to find out. Keep watching this video to the end. We’ve got big news about the SafeMoon Exchange along with other critical updates about burn and more.
You sure do not want to miss any part of today’s video because I’ll be explaining everything you need to know step by step. So, make sure you stick around to the very end. Disclaimer.
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Hey guys! Welcome to today’s video. If this is your first time here, I’d like to say a very special welcome to you. I make daily videos about SafeMoon and the crypto market in general. So, if you want to be kept up to date, then you need to hit the subscribe button as well as the notification button so you know once I drop a new video.
And if you’re enjoying the video, please, do well to hit the like button so that you get to see more of my videos. Alright, let’s get into today’s video. Today’s video, we’re going to be talking about the SafeMoon Exchange.
There have been some updates about the exchange and I can’t wait to share that with you. But before we get to the exchange, there are some other updates I’d like us to talk about first.
Once we’re done with those, we’ll talk about the SafeMoon Exchange. A couple of days back, someone made an observation in the SafeMoon subreddit that got everyone thinking. Maybe you’re familiar with Coin Market Cap and its rankings.
If you aren’t, well, basically Coin Market Cap has a ranking of cryptocurrencies according to their market cap. Now, this is a pretty straightforward ranking method, or at least, it should be except that it seems SafeMoon has been wrongly ranked.
Coin Market Cap is possibly the most used crypto website on the internet, even if you include exchanges. Coin Market Cap, by default, sorts cryptos by market cap value. Bitcoin being number one, Ethereum number two, etc.
All of the cryptos on the website are in order by market cap, except SafeMoon. SafeMoon is currently at number 211, indicating a market cap value around $250 million according to the coins around that position.
But in reality it has a $1 billion market cap and should be in the top 100. What’s going on here? As usual, everyone has their theory as to why this is happening. First off, now might be a good time to bring up that CMC is owned by Binance.
So, in certain quarters, the theory is that Binance is deliberately being negligent about updating SafeMoon because they see SafeMoon as a threat. Binance itself might have fueled this narrative by refusing to list SafeMoon despite all the petitions and direct and indirect accusations.
It’s only natural for some people to come to the conclusion that Binance hasn’t taken a shine to SafeMoon. Besides, SafeMoon is exploding in popularity. We’ve launched our wallet and we’ve got the exchange and blockchain on their way too.
Getting these would put SafeMoon in the position to give Binance a run for their money and it seems that’s what SafeMoon is out for. For this reason, some believe that Binance has purposely chosen to stunt SafeMoon’s growth.
Now, that’s one theory and there’s no way to confirm if it’s true or not. But there’s another much simpler one. Another possible explanation is that CMC will not list SafeMoon in the top 100 until we get our own blockchain.
Now, if this is true, then that means SafeMoon will not be in the top 100 till about December when the blockchain is supposed to be launched. While this seems like a plausible explanation, it’s still a pretty long time to remain misranked.
But let me know what your thoughts are in the comment section while we move on to the topic of burn. Everyone is always excited to talk about burn for obvious reasons. Burn creates scarcity which drives up our prices and gives us profits.
But today, we’re going to be talking about after the burn has stopped. Perhaps you haven’t thought about it. Well, today, we’re going to discuss it and then we talk about the exchange.
This is Rawdog Tornado on Twitter If the burn is stopped at 200 trillion, daily volume of $100 million… $12.50 a day, $4,562 a year. $1 billion in volume a day would net you $125 a day, $45,620 a year.
Not too shabby. If you have 500 million SafeMoon and they stopped the burn at 10 trillion and with a daily volume of $100 million, you would have $125 a day, $45,625 a year. At $1 billion in volume a day, $1250 a day, $456,250 a year! You’re probably thinking these figures are crazy and you can’t wait to start making that much from your investment.
But what exactly does stopping the SafeMoon burn entail? So, perhaps you’re new to the concept. Allow me to do a bit of an explanation. The SafeMoon dev team has made it clear on multiple occasions that, at some point, they are going to be stopping SafeMoon from burning.
You already know how it works right now, for every time SafeMoon is traded, bought or sold, a portion of the SafeMoon supply goes to a burn wallet. That burn wallet is treated like a holder except that the wallet does not have a private key.
Now, because the burn wallet is treated like a holder, it also gets reflections for every token that it receives which means that the reflections are also burned. In the source code for the SafeMoon protocol, there is such a thing as an “Exclude from Rewards” list.
As you can probably tell from the name, any address that’s mentioned on that list will not be able to receive reflections anymore. So, when the team thinks it’s time to pull the plug on burning, it will simply put the address of the burn wallet on that list.
Now, there’s an equation that explains all of this but there’s no time to really explain this. Besides, I already explained in another video which I’ll link to in the description. But here’s something you want to keep in mind.
Price really has little to do with how much ROI you get on your investment in SafeMoon. Instead, what really matters is a low circulating supply and a high trade volume. Figures like 10 trillion for circulation supply and 1 billion for daily trade volume , for instance, are a decent start.
This is why stopping the burn is going to be so profitable for investors. Besides, by the time we stop the burn, the exchange and blockchain would probably have been released and if these two perform even moderately well, then $1 billion of trade volume is more than achievable because, think about it, no use case and a very difficult purchasing process, yet we have been able to hit $600 million in trade volume.
Now imagine what would happen when we have our exchange and blockchain. Like I said, in this case, price doesn’t matter much. In fact, if prices are low, it makes it easier for people to buy in, and if people buy in, we can burn faster and reduce the circulating supply in the process.
Alright, now on to the exchange. Like I said, we’ve got big news! The SafeMoon team has filed for the name “SafeMoon Exchange” to be trademarked both in the United States and in the EU.
This suggests that we are on course for the release of the SafeMoon exchange which we know has a target launch date of October. So, what’s this exchange going to look like? Several weeks ago, I made a video about SafeMoon’s partnership with Bibipom and how there have been speculations that the SafeMoon exchange might just be an overhaul of the current Bibipom website.
Besides, Bibipom CEO also hinted sometime in April about a possible collaborative effort between SafeMoon and Bibipom in the developing and launching of the SafeMoon Exchange. He has also released a series of cryptic updates since then that seem to suggest that there was something in the works.
But we haven’t really heard from Bibipom in a while so not much is known about progress in that direction. Besides, there’s a whole theory altogether that suggests that SafeMoon will simply build the exchange on top of the SafeMoon Wallet just like Binance did with its exchange and wallet.
Some are saying that this is why the dev team decided not to add the word “wallet” to the wallet’s title in the Google Play Store. Again, mostly speculation. Nothing is certain yet. But we do know that the exchange will be embedded into the SafeMoon Wallet once it is launched.
I know your biggest question is about reflections. Well, from what the SafeMoon website says, the exchange will bring tokenomics to every crypto on its platform. But if you recall, in one of my past videos, I discussed John Karony’s response to this idea when someone brought it up in the SafeMoon Discord.
Although Karony’s answer wasn’t exactly straight to the point, he did seem to suggest that reflections for other tokens besides SafeMoon wouldn’t be implemented on the SafeMoon Exchange until the blockchain is launched.
In his words, “When you are on chain, tokens should interact in the correct/intended manner. Off chain would usually not.” So, by deduction, it appears CEO Karony is saying that we can only expect reflections from on-chain transactions and on-chain transactions can only happen when the SafeMoon Blockchain is launched.
And talking about launches, you’re probably wondering when we can expect the SafeMoon Exchange to be launched. Well, one thing is for sure, there won’t be a countdown launch date as the team has decided to use a different approach.
We do know from a video the SafeMoon team released several weeks ago that the exchange might be released in October. Now, I’m not exactly sure about that anymore considering that we still have the iOS wallet to release.
When October was slated for the launching of the SafeMoon Exchange, it was expected that the wallet would be ready in August and we all know it wasn’t. So, I expect that it would affect the release of other products on the lineup.
Considering that the iOS wallet might not be launched until after the iOS 15 drops on September 20, this means that the iOS wallet would probably be coming sometime in October when you consider the time it would take Apple to review and approve the app.
Again, this is if the team waits for the release of iOS 15 first. So, if the iOS wallet is launched in October, then the exchange might come several weeks later which would be sometime in November at the earliest.
But, of course, this is all speculation. We do not have any word from the dev team yet and it’s unlikely they would give a countdown launch date at this rate. So, let me know what your thoughts are in the comment section.
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