SafeMoon is a human-focused and privately-held technology firm. It introduced its unique protocol and vision in early 2021. In its YouTube video, the CEO of SafeMoon, John Karony, provided “a quick update on the Centralized SafeMoon Exchange.” This video also shows a preview of the SafeMoon Exchange UI.
He said SafeMoon’s “centralized exchange (CEX) has been built but is going through legal and compliance vetting before it can launch.” It will launch in Europe, and then in the United States and United Kingdom.
“I can say with a high degree of confidence that we’ll launch in the EU first, followed by the United States and the United Kingdom,” Mr. Karony said.
“The SafeMoon exchange has been actively under development for a while and yes I hear, ‘Wen exchange? Wen exchange? Wen exchange?’ Well, it’s built, it’s undergoing internal testing, however, we still have a lot of compliance work to complete. Now we don’t have an exact launch date for it yet,” he further said in the YouTube video.
According to SafeMoon’s recent tweet, SafeMoon NFT marketplace is arriving soon that will support ETH, SOL, BSC & Polygon.
SafeMoon was founded in 2021, and also has a SafeMoon token (SFM). That reached its all time high market cap in April 2021 of $17 Billion that dropped almost 98% in value to $223 Million.
SafeMoon’s Development in 2022
SafeMoon has developed Version 2 of its token (SafeMoon V2) in December 2021. It was an updated version of the SafeMoon contract. As part of consolidating to V2, its team implemented a deadline to migrate its tokens, or else investors would be faced with a 100% tax.
SafeMoon’s team also released a decentralized exchange, “Safemoon Swap,” as the only place where this migration could happen. Then in April 2022, Safemoon announced a new product, the SafeMoon card. It was promoted as a debit card that can be used to pay for goods using SafeMoon (and other cryptocurrencies) for a 2.5% fee.
However, some of the industry “experts have criticized paying an additional fee to pay for goods, contrasting it to Crypto.com’s card which instead rewards users with a percentage return in crypto depending on how much of their native token they are holding. Even though the card was about to be released in July 2022.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.