Safemoon friction finance
But, improvements must be done. From my understanding, the more coins you hold - the more coins you passively earn. Sounds great right? Yes, as long as transactions are going through - its pretty nice for everyone.
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- Bitcoin Tether And The Financial Beast
- Amakuni AMA Recap – Crypto Daily – Xokers
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- Friction Finance AMA Transcript
Bitcoin Tether And The Financial Beast
But, improvements must be done. From my understanding, the more coins you hold - the more coins you passively earn. Sounds great right? Yes, as long as transactions are going through - its pretty nice for everyone. The problem here is, that the current top holders are earning so much money daily, that they can cash out every single day, multiple times a day, and still not decrease their initial investment.
Well is that a problem? Yes and no. The current top holder: 0xcc64eafcdecffefc44fd, is earning Right now that equals USD. Thats absolutely crazy. His holdings are also currently worth around 30 million USD.
Where does this huge cashflow come from? It comes from you. The small fish trying to earn a little buck from an interesting investment. The worst part is, as the whales sell out - the demand of coins can not equal the supply and therefore the price drops.
This is mostly the reason as to why we have not been mooning as hard as we should, even though there are mostly only buyers, not sellers.
The vast majority of transactions are buys green. But the amount of coins getting sold is so much larger than being bought, because the whales are getting almost infinite amounts of coins every single day. I have yet to come up with any great solution. Maybe a redistribution cap? Its great that early investors are getting rewarded for doing risky business, and I hope their lifes have changed for the better - but longterm growth and health in the coin is also vastly important.
Therefore, I think the biggest problem right now, is finding some kind of mathematical equation or system, so that we optimize the free market, but still have a fair market, where no one gets this much of the coin reflection. Im sure that the whales wants the price of the coin to skyrocket even more, just as anybody else - therefore whales you need to understand that right now, it is not healthy that you are earning so large amounts of passive income from holding, when you keep selling out your reflection income.
Let us trust each other, and help each other, so that we all end up on the moon. Not just the early investors, but all of the community. I'm sure that we are many, that would get a life changing experience from believing and holding SafeMoon for a very long time. Sorry if my English is a little rubbish, I'm not a native speaker.
Hope you guys will leave your honest opinion and or ideas, so that we can discuss this as a community - we are a community driven coin after all :. The more you sell, the more tax you get and the more you buy, the less tax you get. Similar to real life taxes".
I think this could work to some extend. This would really incentivise people to hold, and people to buy up, instead of selling. The top wallets are the ones that jumped in first. Changing the terms now specifically targeted at them is betrayal. IMO, if Dev can take sides that fast because of the interest of the broader community, then their integrity is questionable.
So unless we can come up with some concept that is implementable across board and force whales to rethink their strategy, it will be an extremely tough sell for Dev to buy in. Edit: not sure if its workable. Maybe Dev can strike a deal with the top wallets.
Use the money locked in LP and buy out those top wallets. Burn all of those tokens and we all moved on. Very good point. In the long run, you can't make everyone happy. I do think tho, to make the coin work long term we need to cut down on the importance of whales. It is a free market, and everyone reacts rationally. Every market contender wants to get as much money as possible, thats just how we work as humans.
Therefore, we will need some kind of restrictions, or another deal as you wrote, with the whales, so that they dont determine the market as much as now. It would be great if SafeMoon's tokenomics could be adjusted or changed for the better good of the token.
I don't think this should be taking sides with neither the whales, nor the broader community, the devs should just always work in the best possible interest of the token itself. Otherwise, I really do believe that it will slowly, but surely, die out unfortunately. Each tweak in the strategy has a huge downstream impact. Reducing the distribution of reflection might then make holders reconsider if the return is lucrative enough vs the risk they are expose to.
It's an extremely difficult situation to tackle and definitely going to take time to iron things out. Yes thats true, would be great if the devs read this so they could start discussing pros and cons around this topic tho.
This could be possible. But then again, without evidence, I don't think it's right to spur something like that. Go look at the top holders BSC scan and see if you think they will hold at the next price increase, lmao, they are vampires sucking the life out of an otherwise decent project, which is fine all projects have whales except because of the tokenomics there is no end in sight with these whales. Probably if I was to get k a wekk I would also be cashing out as long as my bag stays the same or bigger.
I want answers soon or im bailing with some sort of profits, explain to me why the whales are dumping in the pattern they are doing it it in and explain to me with the tokenomics and the redistribution how we will see an end to these vampires?
Because at the moment its difficult not to call the whole thing a Ponzi scheme, if it walks like a duck and quacks like a duck then its probably a duck.
Well, for now it is nothing but a Ponzi structure. It can shift away from that only if there are real life use cases for the token. Right now it's just you buying and hoping to sell to someone else for more. Thats it. Well the entire point of this experiment is to realize the value of a deflationary coin as a response to the constant discussion of inflation in other coins. The name of the game with SFM is hold on and let the market be the market, with more transactions, the scarcity of the token increases and theoretically should drive the price up.
The more action that happens, the more scarcity and the higher value theoretically. Tbh I was worried everyone was going to hold forever and there would be no deflation. Top whale selling reflection means we get a steady burn which is more important than increasing the. You can be rich from a 10x gain at trillion supply or you can be fuck you rich at sub trillion supply. My argument is if we want to see growth we need to continue to find new investors, as a community we are doing our job.
I get it, initial investors etc, but there are enough scam coins out there where a very few take advantage of the many just because of timing and greed. If this keeps happening we are going to scare off investors and the coin will fail. That is my concern. I got in on Goose Finance early thinking it was a great project, lots of pluses etc.
Finally a well balanced analysis of whats actually going on, I've been trying to talk about this for days now and all I get is abuse and told to stop spreading FUD etc. The tokenomics are flawed and the project will never succeed if the same cycle continues or price increase and systematic whale dumps and the percentage of the whales holding barely moving, fine they invested early and deserve to be rewarded for their risk Although I'm not convinced the whales aren't the DEVS or people related to them but ordinarily a project grows when the whales eventually dump themselves out of the picture, I just dont see this happening here, at least not for a very long time, too long in fact and new investors will become disinterested and bail.
And I'd expect a proper answer not a dismissive answer like the last time it was brought up, well done you. The largest wallet is the LP wallet, as the burn happens that largest wallet is getting more and more reflection. They can in theory effectively make a few extra hundred grand just by the reflection right now off each other selling back and forth. Please, hit me up when you're going to create a coin. I would love to work with you on the best possible coin - and most fair one - on the market.
Yeah, this could have been an interesting idea. I think some of the Fair coins were doing this. How have they gone generally? I haven't been following along with those too much. I guess the counter-risk with caps is that the project might not have been able to sell all of its tokens in the initial sale. Or that the price would have been kept so low from limiting sales to the point that it would not be interesting to any investors and would never get off the ground.
I also figured out that this is the one flaw with the tokenomics of the safemoon, if they can't fix it, you will never moon, the whale will just keep dumping his endless supply of tokens. It's not endless though, at some point in the future we'll have drained through the tokens due to burns and the whales won't be getting paid reflection as much.
Okay, so the daily volume at the moment is about 21 trillion tokens based on CMC, correct me if those numbers are wrong. The top wallet gets 4. But they're selling more than 47 billion tokens per day. Much more. Today it was billion. The day before it was over a trillion. The whales that are selling are not replenishing their holdings at the same rate that they're selling. If they were, it would mean they're not selling enough to drive the price down 47 billion tokens per day wouldn't cause a dip.
If they are selling at a high rate, it means it'll be over in a few weeks people have done the maths; it's a few weeks, chill out. If whales hold, they get more; good on them.
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I have here with me today Mr. Cryptodaily Admin: Great to hear! What are your missions? The players will be transported to the fantasy World of Aepiran, 10 thousand years after the Great Gods War.
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With informative and thought-provoking keynotes and more than 40 breakout sessions, Predict will change the way you think about cybersecurity. Cybereason updates its account of Operation GhostShell, a cyberespionage campaign the firm's researchers described in July of this year. Among the discoveries they regard as particularly noteworthy are GhostShell's association with a hitherto unknown threat group, "MalKamak," believed to be operating in the interests of Iran, and MalKamak's deployment of the novel ShellClient RAT. MalKamak has been operating since at least. The campaign is noteworthy for its use of COVID or income-tax themed phishbait as it prospects its targets. BlackBerry credits earlier research by FireEye now Mandiant and Prevailion with setting them on the right track. Cybercriminals continue to follow niche fads. ESET describes how the currently shiny reputation of the new and highly volatile SafeMoon alt-coin has prompted criminals to use it as phishbait in a campaign designed to get the marks to download the Remcos RAT.
The Meaning Of “We”At The SEC
This project is currently unrated as it missing critical data required by our algorithm to calculate the project status. Update This Data. How do you feel about this project? Binance Smart Chain.
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An engineer uses a drill to carry out maintanence to a mining rig draw housing graphics processing units GPU at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. Though the price of the four-month-old token has dropped since then, more than 2. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
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Can we get to know more about you and your team? What are your roles and past experiences? Anyone is welcome to help contribute, feel free to get in touch with me on TG after this AMA if you are interested. Finance has and always will be a community-based project. We have several private telegram groups for coordinating these efforts. Tao : There are several things that set us apart from other projects on BSC.
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Friction Finance AMA Transcript
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