Here is my take on the Freedom of the Unbanked in relation to operation Pheonix
Freedom of the Unbanked will be heard!
Freedom of the Unbanked. Who are they and why have they been left behind? There are currently 1.9 Billion people without a bank account across the global economy, which ultimately means they are disconnected from reaching and connecting with the rest of the world’s financial section. They aren’t able to purchase and buy the things they want because they have no way of making payments other than the hard cash that is more than likely inflated to the point it’s 50/1 against the $. So it’s time, time to make a change and it all starts with Cryptocurrencies!
What is Cryptocurrency?
a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. "decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation"
Definitions from Oxford Languages
So what does Cryptocurrency do exactly? How does it or will it work for the likes of you and me? Well because Cryptocurrency is decentralized: meaning no one has control of the currency. It can be widely adapted to take many forms, Such as BitCoin or Ethereum and more recently SafeMoon which I will look to discuss further in the article. So because no one has control each coin can set out its own goals that they want to achieve due to the backing of the holders, holding on to their coin. And as time goes on that price will change over time as more people look to hold and enter the Crypto space.
In the last 12 months, more than $2 Trillion has been injected into Crypto and it seems to only be on the rise the more people start to learn and understand what Crypto is all about. And that is where SafeMoon comes into play as they are wanting to change the space entirely and help everyone that begins to look into Crypto space.
Who is SafeMoon?
The SafeMoon Protocol is a community-driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
Definitions from www.safemoon.net
SafeMoon was launched earlier this year at the start of March where it has look to take on the fair launch strategy. This means that no one in the SafeMoon development before the launch had any advantage by owning coins before their community. They deployed a 4 step safety plan to ensure its holders of 100% as it is hard to gain people’s trust due to the problems that can occur within crypto such as RugPulls.
A rug pull is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors' funds.
Step 1 - Dev burned all tokens in Dev Wallet before launch
Step 2 - Fair launch on DxSale, meaning that everyone had the same opportunity to be a part of the community at the launch.
Step 3 - LP locked on DxLocker for 4 years, making the coin secure due to locked funds behind the scenes. Similar to how your bank will have a security risk factor of around $250,000.
Step 4 - LP generated with every trade and locked on Pancake. This only adds to the case of step 3.
Now this sounds great a coin/currency has been made but what does it do and why should people have it? The word DeFi Token is the first thing to take a look at here: “Decentralized finance or DeFi is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum”
Definitions from Wikipedia
So how does DeFi help you? Well, it means that no one owns your own money other than you. It is yours to deal with as you please. You will find that storing your money in a bank account is essentially funding the bank to operate, For example, you put $10,000 in your account, they now can use your $10,000 to give out loans or mortgages earning huge amounts of interest that you would be seeing a penny of or at least a small % of it. So by first removing the hold on your own money within banks, it gives the holder of Crypto access to make money off their own money in a similar way to how banks are doing it today.
But there is more to SafeMoon. Tokenomics! Tokenomics is a word used to describe the Mechanics of how SafeMoon operates, Which is via Three simple functions that occur during each trade: Reflection, LP Acquisition, & Burn. Now, these 3 functions equal a 10% (Currently, this fee % can be changed as growth happens) fee that occurs when a trade happens: A trading fee is when someone purchases or sells Safe moon. This 10% is then split by simple functions listed above. Reflection: 5% fee = redistributed to all existing holders (This includes the burn process)
LP Acquisition: 5% fee is split 50/50 half of which is sold by the contract into BNB (Another Crypto Coin), while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
So what does that all mean? Well, the 5% reflections are split across all its holders. For example, let’s say someone purchases 100 SafeMoon they are only going to receive 90 SafeMoon while 10 of them are split 5 to Reflections and 5 to LP Acquisition. Now if I hold 50% of the total supply to SafeMoon, Which no one does, I would receive 2.5 SafeMoon from this one transaction where someone bought into SafeMoon. Now within this 5% reflection process, there is a burn address, this is currently sitting at around 41% of the total supply and only will grow as time goes on which is great. By having this burn address that NO ONE has access to, these coins are essentially burnt and deleted only ever-increasing the price based on supply and demand.
This meaning you’re not only earning coins for every trade but the price is also being pushed up due to the burn process.
But how is this going to affect the “Unbanked”?
It’s not something that is going to happen overnight, this will take time as people start to become firstly educated in Crypto as a whole but then start to learn how powerful SafeMoon’s Tokenomics are:
let's talk, world scale, mass adoption. In the world, there are no records of cash transactions. The world GDP is 84 trillion dollars per year, which would be 230 billion dollars per day. But this is a low estimate because things get traded many times on their way from raw materials to the consumer. Iron is sold (and paid for) as ore, then again as pig iron, then again as, say, steel sheet, then again as, perhaps, car doors, and then again as a car to the dealer, then again to the buyer. So the value of that raw iron appears as money spent several times over. And that is a simple case: electronic devices have many, many layers of trading. So if we take this $1,000,000,000,000T and take 5% reflections is $50,000,000,000 now at my Wallet Size of 0.0031% is $155,000,000 in reflections alone before the price increases due to the burn process and increase of holders. This is something that needs to be adopted across the globe which is very unlikely anytime soon but fun to think about how powerful this can be.
So with this in mind let’s take about the Unbanked and more specifically “The Gambia” Safemoon has begun its talks with countries in Africa to look to adopt SafeMoon as one of its local/global currencies. In doing so, they give the people access to a system and a place where they can store their own money without restrictions or limitations. They will be able to access the global economy in a new way that they didn’t first look to have access to due to the people of the country not looking to trust their local banks. Beyond this, they can then begin trading with all countries around the world which in time brings development to their countries and in the future reduces the inflated local government currency as they won’t need to look to print as much each year.
But aside from all of this, going back to the Tokenomics. Giving the people of “The Gambia” a place to store their money and have them essentially earn interest over time is a huge deal as it’s money that they otherwise wouldn’t have. It just means over time they will get more money by storing it in a place controlled by no one other than its users, taking the money the banks would otherwise earn back to the people holding.
It’s all well and good owning Safe moon but what can I do with it?
The last 80 days have shown a few cases in which the people who hold SafeMoon can use it. The first part of this is the SafeMoon Wallet. This is going to be the home/epicenter of the SafeMoon EcoSystem, You will actively use this as a normal wallet or purse but digitally aspect like a banking system/app.
Once the wallet is in place, then comes the SafeMoon Exchange. Now there are over 10,000 Cryptocurrencies out there to date. And SafeMoon is looking to integrate all these other coins into the exchange with Tokenomics. As mentioned above about reflections, this is something that is going to apply to all the Cryptocurrencies that are integrated into the SafeMoon Exchange. Giving more reasons for Non-SafeMoon Holders a reason to use the SafeMoon Exchange as they are only going to earn more as they hold. As the more people hold the more the price will be, as this goes back to supply and demand. In addition to the exchange and wallet, they have confirmed a SafeMoon Card. This will work in the same way any Visa or Mastercard works except your paying with Crypto to the merchant. They will still receive regular currency (Fiat) as this operation is provided through their partnership with Simplex. Simplex makes the Card transactions seamless. Tap your card and it’s done, they deduct the crypto and pay the merchant in Fiat. And it has been confirmed that the Card Transactions will not have the 10% fee applied. It will still receive the standard fee of Simplex but there isn’t going to be a huge deduction of your money every time you make a purchase.
To summarise SafeMoon:
It’s an 80-day old DeFi deflationary token on the Binance Smart Chain backed by BNB. They are wanting to integrate their token across the globe in as many countries as possible especially where the local currencies are heavily inflated. Which in time will we hope that this brings the economy of the world to an equal playing field or at least slightly closer. They can help countries/individuals through hard times with the use of the Liquidity Pool which the community can look to choose cases where donations can be made on behalf of the SafeMoon community. In terms: SafeMoon is looking to change the way we act in our day-to-day lives with money. And I have no doubt it will get there, but it’s a long road ahead and the team is working incredibly hard to achieve goals ahead of schedule.
List of Achievements in the last 80 Days:
$250M Locked in LP so far.
3 Million + Holders
$2 Billion Market Cap
$1 Million Dollar Fundraiser (Completed)
Multiple Exchanges reached and launched on.
UK Office Opened
India Covid Relief Donation.
416 Trillion Tokens burnt
Partnership with Simplex (SafeMoon Card) (Apple Pay Integration)
Making of their own Ledger (SafeMoon Hard Wallet)
Minecraft Server in Beta Testing (Testbed for Crypto Technologies)
Partnered with Annonymous Keys Technology
Large Marketing firm coming on board
Talk of integration with “The Gambia”
Certik Audit, Complete and Score increasing
Multiple big US new Outlets have discussed us.
Dave Portnoy has come on board and share us on Fox News
Verified on BSCscan
LESS THAN 3 MONTHS OLD! More to follow.