“SafeMoon took the DeFi space by storm by reaching the top 50 cryptocurrencies by market cap since its release just four months ago.” — NEWSBTC. How does the market feel about SafeMoon today? One of the unique features of SafeMoon is its redistribution mechanism, which charges a 10% fee on every transaction. Half of this fee is burned, which reduces the total supply of the token, and the other half is redistributed to existing holders. This redistribution mechanism is intended to incentivize users to hold onto their SafeMoon tokens, thus creating a deflationary effect on the supply and potentially increasing the token's value over time. Blockchain data shows several tokens were exchanged in the wee hours on Wednesday in a single transaction, with the attacker ultimately stealing billions of Safemoon’s SFM tokens locked on an LP.
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