The protocol launched a new token and airdrop to make up for overlooked defects in its previous token contract.
SafeLaunch Migrates From SFE to SFEX
SafeLaunch has made a major migration in their tokenomics. The decentralized Venture Capital (VC) community on Binance Smart Chain (BSC) has announced its migration from SFE token to the rebranded SafeX (SFEX) token. According to their official Tweet on the 6th of July, the protocol also disclosed that liquidity has been removed from SFE and added the new SFEX token. In addition, users will receive an airdrop of the new token to incentivize the migration.
SafeLaunch Airdrops SFEX Token
The protocol recently concluded its Initial DEX Offering (IDO), and it was a massive success as $100,000 worth of tokens were sold out within a minute on the 5th of July. The token increased by 5X its initial value on the same day, achieving the number two token status on Dextools. Amidst all these successful events, the token contract encountered an overlooked flaw, resulting in deflation.
To restore the confidence of its community in its token, SafeLaunch decided to migrate to SFEX and issue an airdrop of the new token to existing holders of the SFE token. The airdrop was 1:1 granting users a new non-deflationary token. This airdrop also included a 1% bonus for initial investors to cover any burnt tokens. SafeLaunch has promised users that the same flaw will not recur. To make this possible, the new SFEX tokens are created as standard BEP-20 tokens without a burn mechanism nor a transaction tax.
SFEX Token Details
New Token Contract: 0x5392Ff4a9BD006DC272C1855af6640e17Cc5ec0B
What is SafeLaunch?
SafeLaunch is a decentralized venture capital community that allows SFEX token holders to participate in the private, seed, and IDO rounds of newly created projects on BSC. SafeLaunch offers users the opportunity to participate in all these offerings without restrictions. The protocol combines a launchpad, liquidity mining platform, project incubator backed by research, and a top-notch team of advisors that fix every difficulty in the blockchain fundraising ecosystem.
The SafeLaunch team took to Medium to thank its community for their full support and patience as they sought a comprehensive solution to the SFE token flaw. Project partners and its top-notch team of advisors have also combined to achieve this goal. SafeLaunch has apologized to the community for the initial issues, adding that the additional bonus is part of the team’s sincere acknowledgment of the token contract’s defect. Moving forward, the protocol seeks to provide a safe, secure, and reliable platform for its community.
Source : bsc.news
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