Table of Contents
CatsRus: Welcome back everyone. After a two week break, we are back and it's been a slow and steady roll back into sort of a general routine, so trying to catch up with everything that went on and everything like that. As we were about to return, we had a little product release or feature release. We'll talk about that in the show as well.
There's a lot to share based on the holiday and the break. And I'm going to try and put a thought process in place as best I can. If I ramble on a bit, I do apologize and it's just so much that I actually took from the vacation as a whole.
And it wasn't just about relaxing and that sort of thing for me. And once I started getting into the places I actually wanted to see and all this, it started to become more apparent than what you'd expect.
Without further ado. Hello everyone. How are we all doing today? I'm your host Cats and I'm joined by fellow educator, Gandalf. We'd like to welcome you to MoonCast, a SafeMoon Education podcast. First I'd like to make everyone aware that this is an educational podcast, where we are able to answer the questions of the community. We do not look to make any announcements during this cast, unless previously advertised. We are looking to bring education to the forefront of the SafeMoon Army.
Please understand everything you hear today is to be used as educational content only, and not to be treated as financial advice. You must always look to complete your own due diligence before making any financial decisions. Welcome to MoonCast episode 40.
For those that have been aware. There was no MoonCast for the previous two weeks. I did look to take a vacation and I traveled to the Caribbean. I was not expecting this holiday to give me a lot more perspective on certain things. I was shocked to see some of the places that I did visit.
For those that didn't know, I went on a cruise to the Caribbean for seven days, traveled from Miami. We then went to St. Martins first, then St. Thomas, and then one of the Caribbean islands that's owned by Royal Caribbean. But the main two places that I wanted to see were Saint Martins and also St. Thomas.
Now, during the trip there, I was going into it expecting these places to be gorgeous, luscious, heavily invested, kind of like a holiday islands. And in some cases that was true and in other cases that wasn't. And I was blown away by some of the people there that I did actually meet.
Now, if anyone's been to St. Martins or St. Thomas, you'll kind of know what I'm going to talk about with the whole perspective of people not having the funds or the ability to do more than being in control of themselves. To put it in perspective, we were on a water taxi going to one of the islands and one of the gentlemen or the ferry driver basically said to us that 95% of this island's income is from tourist attractions.
And you're talking upwards of maybe three, four or five days without any tourists, because they all come in on cruises. Now the 5% to those islands are through the likes of the wealthy that have private houses and vacation and holiday homes and those where the bigger funds come from. But the majority of the funds to these islands are the tourists. And without anyone coming to those islands, it was difficult for them, especially over what was the pandemic.
So it truly gave me a perspective of how cryptocurrency as a whole can help individuals in these places. And we all sit here and hear the stories about how a lot of these places aren't financially stable. Obviously we've spoken about The Gambia previously and there's so many more countries other than just St. Thomas and St. Martins, but this for me was the first true perspective of seeing it for myself. And I was really shocked that how much funding they don't have and how much the likes of me going on the cruise helps these individuals.
So if you want to go and look at some of the sort of states and countries like Saint Martins and St. Thomas, there's loads around the world. We could go on and talk about all the different countries, but the specific person I want to speak about was Mo or 'Mao' as he said. He was one of these guys that makes a living off selling 'lounges' on the beach and they provide you a drink package and all of this.
And he would roughly make upwards of $40/50 a day. Which to some of us may not seem like a lot to some other people that may seem like a lot of money. In his case, he was living off $3 a day throughout the entire pandemic. And he had to feed his entire family, pay rent and everything like that.
So for him, it was a struggle because there was no tourism, there was no money in common, and there were just no jobs for anyone. And his job was to essentially barter his way to make funds through the tourists. Now I basically said to him, do you know what cryptocurrency is? And he had no clue.
Got a mobile phone. We took him through the process of explaining what SafeMoon was at the time. And I said, look, how much do you make in a week? And I sent him X amount in SafeMoon that would cover him for the week. And he spent the entire day with us, taking us through the island and just explaining the economy and how everything works.
And I was meant to be on holiday, but it gave me a great perspective in real life of how much this can do. And by the end of the day we had, I think it was a group of seven of us, me and my partner, and then there's five of the guys. And I think there was one lady as well that came across. And then we were all having a conversation about crypto and how this can help them in the long-term because they don't have any other way of getting generational income into their economy, other than what it's through the US dollar that the tourists provide.
So for them, this opened the doors and their eyes to so much more with what they can do. So long story short, I spent the day with these guys, and it was a fantastic day and it truly showed how much the cryptocurrency side of things helps these individuals on a longer scale. And I was over the moon that I could help some of these guys out with not having to work so hard and push so hard for that day, because we were the only boat there for seven days. So the next boat wouldn't arrive for seven days. So they're going to be without any sort of work, income or anything like that for seven days until the next tourist boat comes in. So for them, it changed their entire week.
Maybe that month, I don't know how far that can take it, but as I said, explain to them what SafeMoon is. Explain to them what cryptocurrency is. And some of them didn't truly get to understand its full potential. And then again, Mo (Mao) was hot on with everything that went on and hopefully me introducing it to those two guys, be able to expand that and hopefully with mass adoption in the future, because they don't trust their banks. They stick to the notes and the coins. So hopefully this is a better alternative for them. And now we all want that financial freedom, but we also want freedom from the control and unbanked.
So, yeah, that was just one of the things that I took away from the holiday other than relaxing and just chilling and having a good time. So, it was a great holiday. Got a lot of things to get done now that I'm back.
SWAP AND EVOLVE
CatsRus: But as I was on my way back, last Sunday, we did launch Swap & Evolve. So S&E is the evolved state of what was the previous generation of liquidity, which is Swap & Liquify. So I'm going to go through the entire S&E process. What it does, how it works and overall what it can do in the future.
So, first of all, Swap & Liquify was the previous generation of liquidity for the SafeMoon token and that was the initial state of how your ultimate tokens would have funding and backing through its liquidity pot. So that was the initial point; 10% tax. And 3 to 4% of that went into liquidity.
And over time it collected either 500 billion or 500 million, depending on V1 or V2. And you would see a large swap that would ultimately create a red candle. And we all knew that was coming. You had trackers, and ultimately it wasn't a positive impact on the token, even though it was doing a positive thing by generating liquidity.
So by moving forward, we now have the evolved state; Swap & Evolve. So what is S&E? Essentially S&E is taking a few of the main factors of swap & liquify to generate liquidity, but also create a positive impact on the end of the overall transaction. So every transaction that you make for the 10%, the SafeMoon liquidity portion, which is 3%, is collecting SafeMoon.
And ultimately right now, the reason we're collecting SafeMoon is because we're unable to collect BNB directly. We don't have contract ownership, we aren't able to do anything in connection with BNB directly, so we have to collect SafeMoon. So by collecting SafeMoon, we'll overall hit a 323323 amount of SafeMoon, and we will collect and store that until we hit that amount.
Once we hit the 323323 we will then sell that SafeMoon for the BNB and create a BNB pot. Once we hit a 1320.32 pots of BNB, we will then look to split that in half a 66.12 BNB and buy back the SafeMoon. Now, why do we do that? Well, in order to put tokens into a liquidity, you need both. You need the native token, BNB, and then we need a token, SafeMoon.
So we collect it and then we collect the BNB until we have enough BNB. Then once we collect the BNB, we then split that in half and then get the other half of SafeMoon and pair it together and put it in the liquidity. There's a few things that obviously are a little bit different to swap and liquify. We're first off collecting the BNB through the smaller effects of what were the sell swaps.
And we're now not doing a huge one, but yes, ultimately, the only way we have to collect BNB is through the smaller one. So in this case here, what would then happen is that the volume that you're looking at right now, ultimately is going to outweigh the negative side of the swap that you would consider.
So overall, it's less impactful in one hit, and it's a steady progression to a better outcome and better impact because Swap & Liquify was always designed to be outweighed by volume. That was sort of like the base factor. You have to have volume to outweigh the Swap & Liquify, or ultimately you're going to be stuck in a W-trend.
And that's not a great circumstance. Whereas swap and evolve is now editable in a way that, theoretically, as time goes on and as the markets change, you can move these factors around to best benefit the token as a whole. So once we get to that end and we've collected all the SafeMoon into the BNB, and then the BNB into the LP tokens, we're then creating this trigger of a buyback/ buy-in the half 66.12 BNB and pairing them together. So overall it's a better implementation of Swap & Liquify. It's an evolved state of Swap & Liquify, to what was the first generation of generating liquidity. To now a second state and evolved state of generating liquidity.
Now does this mean in the future this couldn't be evolved again? Evolution is a continuous thing. Now we'll have to wait and see with our own blockchain and how things will play out. But an important thing to note is the tiered system. The tiered system is the biggest key factor to it all, which is we have control to what is a generation of liquidity.
So right now we have the 2% and we have the 10%. We could have 4%. We could have a 1%, we could have a 2.5%. For all these different things that could generate some sort of taxable transaction, whether it be a trade, a swap, a sell, whatever it is, the card has an application of generation of liquidity.
I think it's like 0.3%. Might seem like a small amount, but that plays into the Swap & Evolve factor. There's so much more that can be applied to Swap & Evolve that helps generate liquidity other than just the buys and sells of SafeMoon. So it's an important thing to consider, but as I said, it's not the final stage.
Nothing is ever the final stage. Nothing's ever the final thing. Overall it's just a course of generating liquidity. Which is what we all need at the end of the day to be able to function with the token and be able to have the ecosystem that we have. Liquidity is the core of the entire tokens backing, shall we say.
So, that was the holiday. Holiday was fantastic and I got to meet some amazing people and started to truly understand the perspective of some of these countries that ultimately don't have backing, don't have funding, or at least are struggling in some cases. Well, I finally got to see that for myself. I can't wait to hopefully be able to help some of these countries out. Then we had the launch of S&E. It's an evolved state of what was the previous generation of liquidity and it's triggered four times now. Did we hit four or was it three? I have to double check.
Gandalf: Think it was even five or like four times hit and one just added to it. Let me check.
CatsRus: Yeah. For going on the fifth. So it's triggered four times in a week essentially. Which equates to roughly an estimation of around about a hundred thousand dollars in liquidity that's been applied. So that's pretty good. In terms of the application into the liquidity and that'll only continue to go as time goes on. But yeah, overall we're in a happy place. We're in a stable place and things are moving behind the scenes. Things are moving, we're moving. It's been exciting. It's been exciting.
Overall, I can't wait to just push forward now that we're back. Now that I'm back, should I say. It was only really me, that kind of disappeared for the day.
CatsRus: But for the likes of Gandalf, you still were here. You were still doing things. So do you want to cover your Lab sessions and go over some of the things that you spoke about over the last two weeks while I was away?
Gandalf: Of course. While you were away, SafeMoon Labs continued on the spaces on Monday and the oldest space, which was delayed and then just now shifted to an upload for this weekend, which was Bear and Bull Markets and Stablecoins. These we basically talked about the systems of a market, how a market works and what a stable coin actually can provide to a token, a coin itself. And last week, the theme of innovations. Talking about how innovations are built and how you actually come to the kind of sense of what an innovation really is.
We talked about that and now the next labs will be: SafeMoon Labs Evolution. So I'll be talking about evolution. What evolution is, what it means and how action evolution functions, especially in a technological way.
CatsRus: Awesome. And that's tomorrow, same time, same place on your Twitter. Say, want to just give them the actual times?
Gandalf: Yeah. As always: 2:00 PM EST, 7:00 PM GMT, 8PM CST.
CatsRus: Perfect. So if you want to see and hear more about the evolution and what evolution does in terms of cryptocurrency then head over to Gandalf's Twitter tomorrow at the time specified.
But again, as always, if you can't make it live, it is recorded and it is uploaded on Friday and it will be continued every Friday now that we're not away. So the uploads will happen every Friday.
So that's pretty much all I really wanted to really cover. I can talk more about the holiday. I can talk more about S&E. But we're just going to open the floor and have a good 30, 40 minute conversation with you guys. Just to answer any questions you may have. Because I know that I've had a few on S&E and I know some people wanted to really ask about what I took away from the holiday. So hopefully I covered that. But yeah, let's open the floor. So if you want to come up and speak, the floor is open. But I'm going to jump into some of the questions that we have.
Is the website still up and running?
CatsRus: Everything seems to be operational on my side. It seems to be there. If you want to provide screenshots, we can try to help and see if there are any issues on your side. (Update: I appreciate the heads up. I’ll make a note of that concerning the Terms and Conditions page and send that up right away)
When is the next product release?
CatsRus: I wish I could say. I get informed when things happens. We are currently on track for Q2 card release unless stated otherwise. Unless there is new information, we are 3 weeks away from the card.
What happened to the Times Square competition?
CatsRus: It is still being worked on. There are many things that go into getting that ready as well. Please stay tuned.
Was your trip a SafeMoon-related trip in helping other countries?
CatsRus: While I was away, it wasn’t a SafeMoon-related thing. It gave me a perspective, while on holiday, to some of the actual real-world issues. There are many countries that don’t have the financial support and systems to make ends meet. They are stuck to fiat currency. Many do not trust their banks or those places lack a banking system altogether, which is a real struggle for some of the people there. It’s given me a real passion to help more of these people that don’t have access to anything and create some sort of financial stability for them through education and giving them some sort of guidance on what is out there and what is available to them, other than remaining stuck in a fiat world. We’re all here for financial freedom and to escape the fiat world. Some of these people don’t even know that the [possibility] existed. Overall, it’s a vicious world in some of these places and I want to help them out as best as I can through the educational content and help guide them on their journey.
Can we have a mascot?
CatsRus: If anyone has any ideas for a mascot, I’d be interested to see what they come up with.
Did you hear any good dad jokes while on your trip?
CatsRus: Surprisingly not. For the most part, I didn’t talk to anyone.
I know that the SafeMoon Twitter account was very active and engaging over the last two weeks, which people have loved. It was funny to see people thought it was me tweeting on the boat, over the holiday. It definitely wasn’t me. The team have been on the backend which is what you guys have been wanting. The engagement from the Twitter account has been phenomenal. You guys have enjoyed it and it’s not going to stop.
Are there any news on new hires that we haven’t heard of?
CatsRus: Nothing as of yet. Obviously, if you’re looking to be a part of the SafeMoon company, we do have a career section on the website. We’ve got a few jobs up there now, so check them out if you feel that you are fit for the role.
Did Cats destroy the cocktail bar on the ship?
CatsRus: I spent most of my time at the robot machine, where you put your drink on an iPad and the robot makes it [for] you. I was pretty much there 90% of the time. With the robot bar, I could control how things were made. The bartenders generally put more alcohol than I like. It was a good trip. I spent most of my time at the robot bar, though.
What happens to Swap & Evolve once we are on our own blockchain?
CatsRus: Essentially, we could have an evolved state, where you don’t need to have the collection of the native token as we will be our own blockchain and contract owner of the native token. Therefor, we can collect our own token and it’s backed by our own stable coin. If you want to learn more about stable coins, Gandalf did a [SafeMoon Labs on the topic] the week before last. Go and check that out at the following link.
Essentially, we would have our own contract ownership of the stablecoin and of the native token, so we could then theoretically negate some of the fundamental designs that are currently implemented to be an even more positive outcome. Ultimately, we will have to wait and see what the final stance is on S&E. This is not the finalized state. This is an evolution of the features and facilities, which will continue to change based on the requirements.
Is everything that is to be released on track? What are you excited about?
CatsRus: The education site and rebranding of the entire site is coming along nicely. I think everything is on track so far. We don’t have any down time or extensions on anything currently. The card is still for Q2 at present until we are told otherwise. I don’t see anything, currently, that would change that.
Will Swap & Evolve be automated in the future?
CatsRus: The automation of Swap & Evolve trigger upon collecting 132 BNB cannot be automated at this time as we don’t have contract ownership over BNB. Perhaps this will change on our own blockchain. There are a few things that could work in our favor but we’ll have to wait and see. Ultimately, we cannot automated the trigger at this moment in time, but as I’ve said, this could change in the future.
Does SafeMoon have a community assistance program?
CatsRus: That I’m not too sure about. I don’t have any information regarding that. If someone needs help, they are welcome to reach out.
How bad of a sunburn did you get in the Caribbean?
CatsRus: I didn’t get a sunburn. As soon as my skin gets hot, I take breaks and [put on sun screen]. I have a nice tan. I haven’t peeled. It’s great!
Any speculative talk on fully remote customer support positions in the future?
CatsRus: If you have a look on the career’s website, there are one or two customer success positions.
Are there any SafeMoon stickers available for purchase?
CatsRus: Stickers are included in the SafeMoon capsule. They have the items in the warehouse being stacked and stored in the warehouse. The capsules were a success as there is a lot of value for the overall merch.
What Q2 release are you most excited for?
CatsRus: Nice try! That was a good try, but no. The only Q2 release [that we are talking about today] is the card.
What’s John up to? He has been silent on Twitter for the last couple of days.
CatsRus: If I remember correctly, John is in the UK. In the UK. We’ve had the Platinum Jubilee, which is a holiday. Potentially, that is what he’s been dealing with—and with businesses and such but I’m not quite sure. If things do go silent for a day or two, it’s not the end of the world. Things are moving at an exponential rate and once they finally get to the end of things, that will be great.
Will the card have a spending limit like the current banking system?
CatsRus: I do not know. We don’t have the final key information for the card as of yet because there could be spending limits for different places. Different countries could also have different rules on usage and stuff like that. That’s all being handled on the backend. Once we have more information we’ll share it but there’s nothing to share as of yet. Q2 release is still in play, however.
Any official announcement on the 100% V1 tax reimbursement?
CatsRus: Nothing at this time. I can’t give any more information on that… I’d love to, but nothing as of yet as to what could be happening on that side.
If you are receiving any links [in DMs], they are a scam. Please block them. Do not engage, do not click the link. We do our best to control bots and scammers within the servers but sometimes they’re a little bit more humanized and they can slip past.
How is the SafeMoon website coming along?
CatsRus: It’s coming along very well. It’s definitely an upgrade, for sure. As for timeframes, I haven’t got a clue. I do my best with SafeMoon Education but, even with that coming along, there’s so much backend integration. They’re not just building a site, they’re building an entire system on the backend to help me, Gandalf, Momo and Pulse. Designing everything from the ground up rather than just copying and pasting and that’s it. It’s not just a standard crypto website anymore, where you go and get a template and that’s it. There’s a lot more thought and process going into everything. It’s coming along very nicely.
Wind turbine updates?
CatsRus: We don’t have any kind of product updates as of yet. Everything you've heard so far is where we're at.
Instead of a static spending limit on the card that would be applied across the board to all accounts, it might be a wonderful idea to be able to toggle our own set spending limits within the wallet or whatever utility we will utilize to control the card itself so that an individual can say "I want to limit this card's activity to $300 today" and then hand it to a loved one or a family member and let them utilize it or to make certain that one does not overspend one's own account. Would it be possibly to look at the potential of putting an item like this on the card controls?
CatsRus: Funny you should say that because one of my previous jobs was a responsible gambling operator and those cards, their accounts and any sort of gambling accounts do have it. In the eyes of some people, yes, theoretically, investing as a whole is a form of gambling of sorts. Obviously it's a little bit more controlled. Any sort of cases or integrations where you get to apply a little bit more control to your money, sure. 100%, I could see that happening. I don't know how integratable it's going to be from the get-go, but I can definitely see, as we've seen with the wallet, the minimal viable product coming out, getting the card launched and getting it usable, and then integrating features to the card and to the wallet as a whole in the longer term. From the start we may not see that happen, I don't know. We have to see the initial launch of the card, but I could definitely see that happen in the future.
Do you believe that there will be a forum whereby we can offer input as we go with the card as a separate entity in order to further improve its utility to the consumers?
CatsRus: I definitely could see that happening. I don't know if they've got that planned, but yes. I know from the start, when you sign up, they ask about the features you're wanting and we took and initial list from the community of what they're looking for. The community's feedback is hugely appreciated and is what we want because at the end of the day the community's going to be who is using the product and be a part of the ecosystem.
A special thank you to our transcribers this week Kerr and Sir Burns!