CatsRus (SafeMoon Education Manager) and Gandalf (SafeMoon Scholar)
Table of Contents:
The Week in Review | Community Questions & Answers
The Week in Review
We are now recording and placing these [MoonCasts] onto Spotify.
For those that want to keep up to date on the daily SafeMoon news, to head over to safemoon.education and check out the Lowdown. The team have gone through pretty much every resource that you can think of across all social media, to essentially collate all the information, to provide it to you in a nice, streamlined, easy platform. You can also sign up for the mailing list at the bottom of the Lowdown.
Cross-chain function on the Swap:
On March 23rd, SafeMoon will halt trading on its SafeMoon Swap. You will not be able to perform any actions on the Swap on March 23rd and March 24th.
It should take around two days to grade that router.
Essentially the back end of the SafeMoon Swap needs to be upgraded. In order to do that, you can't have transactions going through the system. So by doing so they're able to halt the system and then upgrade it.
Some of you may or may not know that SafeMoon does have both BSC and an Ethereum token that both, through the bridge, are called pTokens. pToken was its initial form of cross blockchain trading and you could simply go from Ethereum➡BSC and BSC➡Ethereum through SafeMoon and that was through a third party called pTokens. Safemoon is now taking it one step further where you're now able to cross trade any token that the SafeMoon ecosystem lists.
What does this mean? When the Swap goes live after the upgrade, you should be able to swap any token for any other token. It doesn't matter what blockchain you're on. You just need to think about the gas fees. So Ethereum still has its Ethereum gas fee and BSC has its BSC BNB gas fee.” So from the face value, nothing will change. But when you want to swap from the likes of SafeMoon➡Shiba Inu, for example, you can do that straight through the SWaP.
Essentially, SafeMoon will be the middleware token. Regarding the middleware, there's a 2% fee on the Swap from the cross-chain. If you go from SafeMoon➡Shiba Inu, for example, there is a 2% fee that needs to be paid. Of that 2%, 1% is distributed in reflections, 0.5% is liquidity, and 0.5% is burned.
There will be guides on it once we get closer to the launch.
If you haven't already, and you're thinking about getting into crypto, or you're just trying to learn about crypto, you can now get in with zero fees with MoonPay. There is still a small blockchain fee, but that’s unavoidable and it’s only a couple of dollars.
We had a goodbye from Charles. For those that weren't aware, Charles was VP of Operations for Europe. He has now decided to go ahead and continue his education. He has now decided to leave SafeMoon and go back to study. We all wish him the best.
Swap & Evolve has a confirmed trigger of 250 million. So Swap & Evolve will trigger, once launched, at 250 million BNB value.
SafeMoon is looking at ways to refund those that lost 100% of their assets due to the V1 fees.
John was announced as one of Utah's CEO Honorees of 2022 by Utah Business.
If you were one of those individuals that has added liquidity to the SafeMoon ecosystem for any of its tokens, you need to remove them by March 22nd, or you will lose your capital. We can't guarantee that you are going to retain your capital because those contracts are going to become unsupported because of the upgrade.
For those that are saying that Safemoon needs to come out with products faster, why? Why do they need to come out any faster? Why would they want a rushed product? Why would they want to completely negate the entire process that they've just done for the last 6-12 months. You don't want to rush a product. I want the complete product, which the team is heavily, heavily working on. I can't wait for the entire SafeMoon community to see the complete ecosystem.
SafeMoon Connect and SafeMoon ecosystem wouldn't be possible without the brilliant SafeMoon Rewards smart contract. Ryan was hinting at the SafeMoon rewards. The Reward contract was in development and staged before SafeMoon was a thing and was acquired and repurposed for SafeMoon products. Trends Server:
The Trends server has launched.
This will be the community connection to marketing. It will function much like how our mods operate, a group of volunteers that can work on multiple platforms. The Trends teams will have a hand in how marketing is working.
Marketing is still an independent department within SafeMoon, but Trends will be directly connected to it.
“It’s more than ‘hey everybody, repost this.’ It’s about finding different ways to engage it on different platforms and getting the right translations out. We will be able to get translations out on big important topics across platforms that nobody’s even heard [that’s used in] other countries, where we want to grow. A lot of people have heard about us in the United States, but maybe not in 20 other countries that we could reach with properly applied marketing mechanics online. That’s where the Trends server comes in.” -Veno
Here is the link if you are interested in joining a team!
When can we purchase those wonderful new hoodies that saw John wearing please?
Cats: The hoodie and everything associated with the official merch are being worked on right now. Stay tuned for that because they need to sort out the distribution, which they're working with a company in Utah. Once it's set in stone you guys all know about it, but it's being worked on heavily.
Do you know, the difference in the blockchains John's said has been tested?
Cats: Do I know personally? No. I know that they were testing different options of the way that they could take SafeMoon, but I don't know specifically about the different types of blockchains that they were referring to in that conversation.
Do you see cross chain being the biggest release this far for SafeMoon in your opinion?
Cats: Well, technically the wallet would be the biggest release for SafeMoon this far, because that is the core of everything that goes on. But if you're talking more about upcoming releases, the router upgrade is huge. It's like upgrading from Windows 98 to Windows 7, there's a big [leap] in what you can do. It will fundamentally allow them to do so much more.
I will not have the chance to meet John because I live in Germany. Can I ask John for a picture with an autograph for my birthday?
Cats: I don't know if I can get you an autograph for you but, if SafeMoon ever comes to Germany or Europe and you're able to come along, I'm sure there'll be conventions or some kind of space where you can meet John there. So I can't do that for you, unfortunately, but happy birthday, nonetheless.
Any plans regarding staking, which was mentioned by Ryan some time ago?
Cats: It's on the radar, but we've got so many things in the pipeline that we can only do so much in a fast pace. So the resources right now [are being spent on the] router upgrade. They need to get this route to upgrade done. Once that's done, they can start bringing the other things that they've been mentioning down the pipeline. And these are the things that the community has been asking for.
Is the one new exchange listed a US-based exchange?
Cats: I actually don't know the extra listed exchange. So if there's an actual listed exchange, great. The more the merrier, but I have no idea as to what that might be.”
Is there any way you can tell the team to add another payment service to the wallet? A whole lot of us aren't able to use MoonPay.
Cats: It's been noted. As for when that will be, I don't know. We do understand that there are specific states, like New York or Texas, that are more to buy in.
Are you all employees of SafeMoon or volunteers?
Cats: So right now I am employee of SafeMoon and I work on the SafeMoon Education site. Gandalf is working voluntarily beside me creating the content, more specifically, SafeMoon Labs.
Gandalf runs a Twitter space every Monday, where he will speak on a specific topic of either crypto or SafeMoon. And that will come paired with a recording and article to be released on the same Friday. So if you're not able to catch it live on his Twitter, through the Twitter Space. You can look to catch the recording, which is uploaded to the SafeMoon Education YouTube channel. So what have we got this week?
Gandalf: Might be coincidental, but for this week we have the SafeMoon Labs theme about liquidity and liquidity pools in DeFi which will happen tomorrow at 3:00 PM EST, 7:00 PM GMT and 8PM CST.”
Can you explain more about the LP that you were referring to?
Cats: The LP that is in the SafeMoon pool right now has been built up over time however some individuals can add liquidity to the SafeMoon liquidity pool, or the SafeMoon tokens, because you can add two other liquidity pools. Essentially what that means is you take the token of whatever you're looking to put into the pool, along with the store of value which would either be BUSD or BNB (those are the two preliminary ones that you would use). If you had to pair them together and put them into the liquidity pool, you would gain a small percentage back over time for essentially funding the SafeMoon liquidity pool, or the token pool or whichever pool you've gone into. Because we are performing a router upgrade, you will need to remove these tokens if you have put liquidity into the liquidity pool. This isn't buying the token, this isn't doing anything with purchasing the tokens. This is if you have gone ahead and manually put LP into the pool, you will need to remove it by March 22nd.
If you don't remove it, you are at risk of losing those funds, because the team needs to perform the upgrades and they cannot assure that you are going to keep these funds because the contracts that currently operating on are going to become unsupported. They can't confirm the security of those assets that are stored in there after that point.
Should we see a large spike in volume when the cross-chain swap is in place?
Cats: It's hard to say. We can't comment on the actual price action, but overall it is a huge product for SafeMoon as a whole to have cross-chain swap. And then again, as Ryan mentioned, in the future as you start to add more high volume tokens, the likes of Bitcoin, and the bigger volume tokens, and you can start getting a piece of that volume, that's where your volume will start to play into account because we've got everything coming to one.
If people could theoretically get in, bring their Bitcoin across, swap it here and there. And all of that swapping on the SafeMoon Swap adds to the SafeMoon token itself. Sure. You're going to see some sort of transactions on the chain itself for SafeMoon. So yeah, unfortunately we can't comment on exactly what will happen because we don't know. We can only speculate and see what happens.
Will the Swap and Evolve include be BUSD SafeMoon or is it only BNB?
Cats: It's both. It's BNB and it's also BUSD. So there's one and two. Right now SafeMoon has two pairs, which is BNB and BUSD. So it'll do both pools separately. If you swap to BUSD, then it's going to stack up BUSD. If you swap through BNB it's going to stack up on the BNB side. Whichever way you're swapping it, it's going to add to that pool that's associated with whichever liquidity pool you work with.
If you want more specific information on that, there is a Swap & Evolve article on the SafeMoon Education site you can read that explains more about it.
How many more birthday announcements are left?
Cats: There are more. We're not done. We're only halfway through remember. I'm not going to confirm or spoil how many presents are under the tree, so to speak, but there's some more.
Is there marketing planned around the cross-chain, so when it's upgraded people will know about it, other than the SafeMoon Army?
Cats: So the biggest thing for the marketing overall is word of mouth. That is the biggest: word of mouth. That's what SafeMoon was built on. That is the most powerful form of marketing that you can have, but at the same time, yes, there's marketing going to be had across the board.
You've seen the new form of branding. That's the way that SafeMoon is slowly going to start to present itself. So as we move forward, you're going to slowly see more forms of that style of branding coming at you with face value. So for now that's where we're at. But yeah, marketing will slowly continue to evolve itself as with everything that SafeMoon is trying to do. They're trying to evolve into something more and be the better form of a company than they are today. So as each day we take on board, we learn and then we evolve.
Will there be coins and tokens with more volume be lived after the router release?
Cats: Not right away to my knowledge, but in the future as they start to essentially develop this minimal viable product, because that's something SafeMoon striving to release is the minimal viable product is the first starting point.
You've seen it with the wallet. They launched the wallet and it didn't have many features. It didn't do much other than to show the value of your tokens. Now, they've evolved it and added more and more features. It's going to continue to be added as the course of the time goes on. So right now you just seen this one straight up minimal viable product, which is Ethereum to BSC through Ethereum. But again, as time goes on, we'll add more.
Will we be able to track when Swap & Evolve will happen, for example, see how much has accrued it?
Cats: It's on the blockchain so I would say yes. I'm sure the trackers out there will be able to track it in some way, shape or form. No doubt in my mind that someone would be attracting that for you.
Why not buy back and burn the V1 LP and burn it?
Cats: So the current V1 LP is locked in DxLocker. There's nothing we can do about that. The team is working to move that to V2, but right now we can't do anything. It's in a vault with no key and you have to find some way to get it out. That's unfortunately was part of the early days of thinking, which was to secure value in the token and gain trust for holders. The initial purpose was to say, look, you've got volume and in terms of LP in this token for four years.
That was the main point to gain trust in the community but, as John's mentioned previously, that's not the right way of thinking about things anymore. And now they've said they never looking to do that again, but instead why lock, which could then hinder you instead, we can now insure the LP. So if anything did happen, we have our entire LP insured, which is great to hear.
So Ethereum will be done on this two-day shutdown of trading and the installation of a router. Will further shut downs have to be done every time we add new chains?
Cats: The router and the chains are two different things. So the router upgrade is the operating system behind the scenes, that's an operating system. Whereas a blockchain is kind of like a program that is on the router. That's the way to think about things; it's not [that] the router is the cross chain. It's the operating system [that] has the programs running on it, which is each chain, so it's an installation. So you won't have to stop trading each time we want to add a chain. No, this should realistically be the only time what we would need to stop trading, unless some further development down the line.
How much of the ecosystem have you seen?
Cats: I couldn’t even tell you because I don’t know how big it is *laughs* I wish I could tell you how big it is but I don’t know. Hypothetically? I’m trying to think about what I’ve seen versus what I’ve heard is coming which I haven’t seen. Obviously there’s stuff that I’ve heard about that I’ve not seen and there’s stuff that has been hinted at that I know exists but I couldn’t even tell you. There are parts of the SafeMoon [ecosystem] that existed before SafeMoon launched as a token.
Is the team going to look at it from just the individual users that lost their tokens migrating to v2 so we aren’t rewarding people for using arbitrage bots?
Cats: It is something that has been brought to their attention. From what they’ve explained, there is some way to determine the difference between a legit person that may have just lost funds versus an arbitrage bot through maybe patterns of the way they’ve tried to trade or whatever it is. We don’t want to reward people for arbitraging and stealing people’s money, because that’s not fair, not at the same time there are too many different levels that could be going on in the back. I don’t know how they’re going to handle it but everyone that lost through not knowing or not understanding v2 are all going to be refunded. But again, how that all happens I don’t know, because that’s behind the scenes.
I have an NFT from a provider on the Binance Smart Chain but the NFT doesn’t show up on my SafeMoon wallet. How can I move my NFTs to my SafeMoon Wallet?
Cats: Right now the SafeMoon wallet only operates for OpenSea NFTs. It’s something they are expanding on in the future but right now it’s just OpenSea. That’s probably why you aren’t seeing it in the wallet.
Will the SafeMoon Swap also need to go offline when you introduce the SafeMoon Exchange?
Cats: The operation system should be the latest operating system. The router they’re upgrading is the latest and greatest. They shouldn’t need to take anything offline because it should just be able to be upgraded on the fly. The old system doesn’t let you operate or upgrade while running programs but the new one (theoretically) should. In terms of the SafeMoon Exchange, it shouldn’t take the SafeMoon Swap down because even though it’s a fundamental part of the SafeMoon Exchange it’s not the main focus, which is the centralized portion.
Special thanks to Kerr for helping transcribe this week's MoonCast!