SafeToken: A Next-Gen Cryptocurrency Focused on User’s Security
The cryptocurrency industry has seen its share of ups and downs since its inception over a decade ago. While its significant shortfall remains volatile, certain governments’ regulations also negatively impacted the industry, including the most prominent crypto coin, Bitcoin, in the past. China was among the countries opposed to cryptocurrencies and even banned ICOs in 2017, which saw Bitcoin prices drop by 6%.
However, the cryptocurrency industry is still going on and stronger than ever before. China has also taken a U-turn about cryptocurrencies and even regards Bitcoin as a great investment alternative. The crypto world has, over the years, recorded tremendous growth so fast that even next generations cryptos like SafeToken, are now with us.
What is SafeToken?
Have you ever given a thought to the idea of earning without having to move a single muscle? Well, that’s what SafeToken will do for you. SafeToken is a next-generation cryptocurrency that integrates a frictionless yield, auto-liquidity, and token burn. For the auto-liquidity feature, 5% of every transaction, both buy and sell, will go directly to the liquidity pool and get locked. That way, the crypto coin will always have a growing price floor and improved security.
The frictionless yield feature makes the idea of earning without actually doing any practical work. SafeToken holders will gain passive income as 5% of any transaction in SafeToken will be distributed proportionally to all coin holders as a reward. To start earning from SafeToken, you only need to sign up and purchase some coins, and you are good to go. You keep accumulating more tokens.
Is SafeToken Secure?
SafeToken has a big focus on the security and safety of coin users. So far, the token has been through three audits by different top-grade auditors. It has completed the audits of Captain Jack, WAR ON RUGS, and Rug Detectives. The audits paint the token as a 100% safe and authentic project.
Posting the report on Twitter, WAR ON RUGS noted that SafeToken had no backdoors or the possibility of DoS from the owner’s perspective. The token has a fixed transaction fee of 10%, and 52.25% of the total supply had already been burned. As at the time, there were two early buyers and a Pancakeswap first, and 95% of liquidity was permanently burned.
Captain Jack also issued a report summary on Twitter noting that no one can remove the liquidity pool or control contracts. There is no possibility of ownership transfer, and, in their opinion, the token is Rug proof 100% safe.
Rug Detectives issued a comprehensive report. The auditors claimed to have scanned the project for both the standard and specific vulnerabilities, listing a couple of them. According to Rug Detectives, SafeToken provides an investment solution for users and protects their earnings. The security state of the project was rated as well-secured, based on a scale that ranged from insecure, poorly secured, secure to well-secured. The core code of the blocks is well written and protected, and no developer has access to it.
A Community-Powered Cryptocurrency
SafeToken is a decentralized community-powered cryptocurrency, meaning that the powers are 100% on the holders. The community-led approach guarantees zero risks, and coin holders can rest assured that their investments remain safe even as the crypto coin continues to scale. The project runs transparently, onboarding the entire community in all decisions and actions.
According to statistics updated on SafeToken’s website on 21st April 2020, the coin was valued at $0.00000003 and had a market capitalization of $12.6 million. The total circulating supply of the crypto coin is $420 trillion and has over 29,000 holders globally.
SafeToken Expansion Program
The SafeToken project has a real vision that is nothing close to a pump-and-dump cryptocurrency. There will be an expansion of its ecosystem, including the launch of an NFT (Non-Fungible Token) marketplace and third-party yield farming. SafeToken plans to leverage its partnership with PIG Finance and other partners to launch the NFT marketplace. The coin looks forward to listing on a small-mid tier exchange soon and on a major one towards the end of the year.
Other expansions scheduled for the second quarter of 2021 include releasing its first white paper, upgrading its website, and phase two and three of marketing outreach. The project will also reveal other partners and hold community votes, contests, and events.
Although SafeToken held its first community meme contest in March 2021, it is ideally not a meme coin but a cryptocurrency with an actual vision.
Although SafeToken is relatively new in the crypto industry, the coin shows positive progress. The project is now approved to be 100% safe based on findings of the three audits and already attracted close to 30,000 users globally. More than 50% of the total coin’s supply has already been burned, and 95% of the liquidity also burned.
New users can also become part of the community-powered cryptocurrency and start earning their passive income. All they need to do is buy the SafeToken via the official website. Click on buy SafeToken on the top right corner, which will redirect you to Pancakeswap Finance. From there, you can purchase your SafeToken coins and also exchange them for other tokens. For more details about the platform, please join other 7500 users on their official Telegram channel to be up to date with all the happenings of SafeToken.
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