Cryptocurrency SafeMoon (SFM) debuted in March and quickly gained popularity. Its focus on reducing volatility attracted attention – SafeMoon prevents coins from participating in speculative trading, while long-term holders, on the contrary, receive additional rewards.
Instead of continuous token burning, the SafeMoon team prefers manual token burning. This gives more control over the supply of coins and allows the cryptocurrency rate to be directed upwards more efficiently.
SafeMoon is executed as a token of the Binance Smart Chain ecosystem.
The SafeMoon team
The SafeMoon team is led by John Karony, who, according to his assurances, previously served as an analyst at the U.S. Department of Defense.
Other company representatives include:
- Thomas Smith is SafeMoon’s chief technology officer. By his own admission, he has worked in the blockchain industry for the past couple of years;
- Hank Wyatt – vice president of research and development. Founder of HLWGroup, a small startup that makes money from private servers for the online game RuneScape;
- Jack Haines – lists LikeandShare and Ben Phillips Global as former employers. No information about the companies is available. For some time SafeMoon was listed as an anonymous developer on the site;
- Travor Church is a SafeMoon community manager with a background in HLW;
- Jacob Smith is a SafeMoon web developer and HLW member. Works with PHP, Node.js, and React.
Roadmap for the year
Plans for the company include:
- Work on infrastructure. Complete some kind of “SafeMoon app,” information about which has not yet been disclosed, as well as creating a wallet and video games.
- Entering the exchanges. The company will explore the possibility of going public on the Binance exchange, as well as creating its own trading floor.
- Expansion. It is planned to open offices in the United Kingdom and Africa. The staff will be “expanded by 35%” – simply put, two more employees will be hired.
The lack of complete information about the experts and the distant experience from the cryptocurrency industry has drawn criticism from outside observers and members of the online community. Twitter user WarOnRugs points to the fact that more than half of SafeMoon’s liquidity is controlled by the team, which opens up wide opportunities for market manipulation. And renowned analyst and trader Lark Davis explicitly says that SafeMoon is a scam.