SafeMoon Winds Down V1 as New Chapter Begins

SafeMoon has called time on version one as it looks to a new future for the company, but despite warnings, some users have been caught out by the change.

SafeMoon Version 2

Transaction tax on version 1 of SafeMoon is now 100%. The result is that any transfers on the legacy system will result in a loss of funds. Safely migrating funds from version 1 to version 2 can be accomplished with the aid of the BSC News article ‘SafeMoon Shows How to Migrate Tokens from V1 to V2’.

In a tweet dated December 29, the company confirmed the change a final time.

“Today is the day #SAFEMOONARMY!” SafeMoon said. “At 4pm GMT / 11am EST / 8am PST, the V1 tax will be changing to 100%. We are moving our full focus to V2 to evolve the #SAFEMOON ecosystem. Bring on 2022.”

Despite the fact that the change was publicized on SafeMoon channels, and reinforced by BSC News, some users were apparently still wrong-footed or confused by the change. According to some users who replied on Twitter the change meant they lost all of their SAFEMOON. 

BSC News reminds readers that anyone who reaches out to you on social media channels offering to recover lost tokens is most likely a scammer.

100% tax rate | Source

The SafeMoon team further teased the community with a tweet on December 30, lending reason to believe some will happen at 05:05 UTC on December 31. 

“Look up, #SAFEMOON family – 31st December | 00:05 | Eastern Standard Time,” reads the tweet.

What is SafeMoon?

SafeMoon is a new altcoin launched in March 2021. It runs on the Binance Smart Chain and is a Decentralized Finance (DeFi) community-driven protocol. This protocol slightly differs from other protocols when a transaction takes place. Three functions will occur, reflection, liquidity pool (LP) acquisition, and burn. It also charges 10% fees to anyone that sells their tokens, and other owners get 5% of the fees. This is SafeMoon’s method of encouraging holders to hodl and disincentivizing sellers from selling.   

To find out more about SafeMoon, the following links are available: 

Website Twitter GitHub Discord Telegram Reddit |

Source : bsc.news

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