Safemoon promises to revamp the swapping experience for users with the upgrade.
SafeMoon Suspends Swap Feature
SafeMoon has suspended its swapping service, SafeMoon Swap, to improve users’ experience in its forthcoming upgrade. The secure wallet provider wants to renovate its swap product in preparation for upcoming features.
The protocol halted the service on March 22 at 4 PM UTC and announced on Twitter that users would not be able to make transactions for 48 hours. As such, users who visit SafeMoon Swap cannot utilize the service at the moment until March 24 at 4 PM UTC. As much as the protocol disclosed when the service would be back online, it may extend.
“We have suspended swapping for a minimum of 48 hours due to an exciting new swap upgrade. Thank you for your patience as we improve your swapping experience,” SafeMoon SWaP’s page reads.
SafeMoon shed more light on extending the timeline for upgrade via the announcement tweet on March 22:
“Remember that the Swap will be unavailable from 4pm UTC for around 48 hours. If the timeline changes, we’ll update you here.”
Users should anticipate an improved version of its swapping product. Additionally, SafeMoon will update the community on its official Twitter page if there are any changes.
Meanwhile, BSCNews, on March 13, published an article about SafeMoon’s recognition in the Decentralized Finance (DeFi) space. The protocol’s CEO, John Karoly, recently got nominated for the 2022 CEO of the year award held by Utah Business, showing how far the project has gone on BNBChain. You can also check our 2021 review on SafeMoon to see its notable achievements.
What is SafeMoon?
The SafeMoon protocol is a community-driven, fairly launched Decentralized Finance (DeFi) token. Three simple functions occur during each trade: Reflection, LP Acquisition, and Burn. SafeMoon is an altcoin: a blockchain-based digital currency similar to Bitcoin, but with distinctions. It launched in March 2021 and has already racked up over 2 million users.
SafeMoon’s unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.
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Source : bsc.news
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