What Is Safemars (SAFEMARS)?
SAFEMARS is an autonomous yield and liquidity generation protocol.
SAFEMARS works by applying a 4% tax to each transaction. This tax is used as follows: 2% is instantly and gas-lessly distributed to the holders of SAFEMARS. There is no need to farm or claim, holders will simply see more SAFEMARS tokens in their wallet. 2% is paired with BNB and automatically added to liquidity, thereby constantly increasing the SAFEMARS price floor.
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SAFEMARS notes that for each transaction, the SAFEMARS protocol will automatically distribute the rewards to holders, as well as auto-locking the liquidity forever by continuously burning the BNB/SAFEMARS LP tokens. The team ensures that these daily burns are transparent and visible on the blockchain, and claims that this makes the token is “unruggable.”
What Is Yield Farming?
What is yield farming in cryptocurrency and decentralized applications? In short, it’s a new way to gain passive income while at the same time supporting the development of the cryptocurrency world.
Yield is a common term used in farming to measure the productivity of a farm. In cryptocurrency, yield usually refers to the annual interest payout a cryptocurrency a user can earn. Yield can be generated from holding tokens in a staking wallet or from masternode rewards. Yield farming is the use of a cryptocurrency lending strategy that minimizes risk while generating interest on investments into cryptocurrency.
What Is Binance Coin (BNB)?
SAFEMARS users have 2% of their tokens paired with BNB, which stands for Binance Coin. Binance Coin is a token that allows users to receive a discount for any fees on the Binance platform, a pure cryptocurrency exchange that plans to create a decentralized exchange for blockchain assets. Additionally, BNB will provide users with access to special features and will be eligible for quarterly profits.
How Many SAFEMARS Coins Are There?
SAFEMARS launched on March 13, 2021, with a total supply of 1,000,000,000,000,000 SAFEMARS. Following the launch, 53.5% of the total supply was sent to a black hole address to be burned. It also receives a share of each transaction fee, burning its share each time it is received. This leads to a reduction in supply of SafeMars tokens, and potentially deflationary nature of SafeMars price.
40.5% is allocated to the pre-sale supply, while 6% to the SafeMars team wallet.
Since its launch, there has been substantial interest in the SAFEMARS to AUD and SAFEMARS to EUR prices.
Who Are the Developers of SAFEMARS?
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SAFEMARS is developed by a team of 3 developers plus 5 marketers. Access to the team wallet is held solely by the main developer, who goes by the Twitter handle @TheCryptoMartian. The team is available round the clock on Telegram to answer questions and help out.
Where Can I Buy SAFEMARS?
As of October 2021, SafeMars (SAFEMARS) is available to trade on numerous exchange platforms, including: PancakeSwap (V2), PancakeSwap, nftgamef.com, Hoo, BitMart, BitForex, LATOKEN and BKEX.
It is listed with two SafeMars price pairs: SAFEMARS/WBNB and SAFEMARS/USDT.
To check SafeMars price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the SafeMars price page. Alternatively, use the dedicated exchange rate converter page. Popular SafeMars price pairs include: SAFEMARS/USD, SAFEMARS/GBP AND SAFEMARS/EUR.
For more information about how to buy crypto with fiat, check out CoinMarketCap’s education portal — Alexandria.
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