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SafeMoon Lowdown (December 17th, 2022)

Updated: Dec 18, 2022


FUD | pSafeMoon Cutoff Near | Community Content: Image - Video | Food For Thought | Blockchain Education: What is a DAO? | The Exciting Future of Blockchain Tech | Blockchain News: Binance CEO Zhao brushes off $2.1 billion FTX concerns - CEO CZ Reassures Staff - Silvergate Bank, Corp, and CEO face class-action lawsuit | SafeMoon Stats | Reminders


"Let the FUDers FUD. We continue to build regardless of them. Their memes are pretty funny tho. So thank you for the entertainment." - John

Original Discord Message

pSafeMoon Cutoff - 2 days

We are just 2 days away from the pSafeMoon cutoff date!!

The dApp will be live on December 19 at 11 AM EST. Use the OFFICIAL LINK on once it goes live.

  • Have the tokens in the wallet you want to use for Migration

  • Don't transfer after the cutoff date/time ⚠️

  • Migrate tokens using the dApp from our official link once it's live

  • Have a small amount of ETH for gas fees

  • Tokens acquired in wallets after the cutoff date/time won't be eligible

dApp will be live on December 19th, at 11 AM EST

Read more

Community Content




"As many of you know, Twitter Spaces is not working right now! So, there will be no #WaterCooler today ᕙ⁠(⁠⇀⁠‸⁠↼⁠‶⁠)⁠ᕗ Have a great weekend everyone and Please share this post!! (⁠◠⁠‿⁠◕⁠)👍" - Jeremiah

Original Tweet


SafeMoon community members Holly and the CryptoBros having a little fun.

"Yes #SAFEMOONARMY We totally had to do the tortilla challenge! Guess who is still the reigning champion of rock, paper, scissors " - Holly

Food For Thought

Dream what you want to dream, go where you want to go, and be who you want to be. You only have one life, one chance to do all the things you want to do. Don't count the days. Make the days count 😉 As always, #BeKind💙

- Holly

"Confidence finds encouragement, encouragement forms confidence 💪 Nothing can stop you if you stick to your path. No matter what the situation, your drive is your engine for success ☑️ And success can be achieved, that's what we're all working on 🤝"

- Gandalf

"Happy Friday Fam! What doesn’t kill you makes you stronger. It builds tough skin. Don’t ever think asking for help is a sign of weakness either. Love one another and help them grow. 🙏❤️👑"
"What if everything you are going through is preparing you for what you asked for?"

- King Turner

"Work, strive, and improve for a better you! #LateNightThoughts" - cats
"You are born lookin like your parents but you die looking like your decisions"

- Shared by Cats

Blockchain Education

What is a DAO?

  • A decentralized autonomous organization (DAO) is a type of internet-based organization that is owned and managed collectively by its members.

  • DAOs operate without a central leadership structure and are governed by a set of rules enforced on a blockchain.

  • Decision-making within a DAO is done through proposals that are voted on by the group during a specified period.

  • DAOs have built-in treasuries that are only accessible with the approval of their members.

  • DAOs can be used for a wide range of purposes, such as freelancer networks where members pool their funds to pay for software subscriptions, charitable organizations where members approve donations, and venture capital firms owned by a group.

The Exciting Future of Blockchain Tech

Amidst all the crypto chaos and market conditions technology will continue to evolve.

A few of the things we’re excited about in crypto

This article highlights a range of technologies that are generating excitement among investors in the engineering, research, and investment sectors. Some of the topics covered include the use of blockchain for mobile devices, zero-knowledge technology, post-quantum cryptography, on-chain "autonomous" environments, soulbound tokens, decentralized energy, and more. The article also includes a link to a longer list of exciting new technologies that are expected to emerge in the coming year.

Blockchain News

Binance CEO Zhao brushes off $2.1 billion FTX concerns

Changpeng Zhao, the CEO of Binance, has dismissed concerns that his company could be required to return $2.1 billion as part of FTX's bankruptcy proceedings. Binance was an early investor in FTX, and received a payout when it sold its Series A investment in the company in 2019. However, if it is found that the payment was made through fraudulent means or that an individual should have known the payment was fraudulent, the trustee may be able to recover the funds from any beneficiary within a two-year period. Zhao is confident that Binance is financially stable and that his legal team will be able to address the issue. [Source: CNBC]

CEO CZ Reassures Staff in a message after $1billion platform withdrawals in a single day :

Changpeng Zhao, the CEO of Binance, sent a message to Binance employees following the withdrawal of over $1 billion from the platform in a single day amid the FTX situation. In the memo, Zhao reassured staff that Binance is a resilient company that will weather any downturn in the cryptocurrency market, but acknowledged that the coming months may be difficult. Below is the full staff memo he sent on Tuesday.

"Team: You may have seen some of the latest news regarding Binance. The fallout from the FTX implosion has brought with it a lot of extra scrutiny and tough questions. The good news is that, even though the news stories don't always reflect it, we can answer the tough questions thrown at our business. For example, despite today's news regarding withdrawals, we are in a strong financial position. We often process more than $1b in deposits or withdrawals on a daily basis. So, it's nothing unusual today. User assets at Binance are all backed 1:1 and Binance's capital structure is debt free. We maintain hot wallet balances to ensure that we always have more than enough funds to fulfill withdrawal requests and we top up hot wallet balances accordingly. With regard to questions on the temporary halt of withdrawals of USDC, because we auto convert USDC to BUSD in order to retain large liquidity pools, we generally retain USDC deposits for future withdrawals. In today's case, many people deposited BUSD or USDT to withdraw USDC. When this happens, we need to convert. Our current conversion channels are clunky. We have to go through a bank in NY in USD, which is slow. We will improve this going forward. With all that is going on, we know that we are at a historic moment in crypto. Rest assured, this organization was built to last. As long as we continue to offer users the best product, user experience, and frictionless trading environment – Binance will survive any crypto winter. While we expect the next several months to be bumpy, we will get past this challenging period – and we'll be stronger for having been through it. As always, I'm grateful to each of you for your incredible dedication and hard work and I'm proud of the incredible business we've built together. CZ"

[Source: INSIDER]

Silvergate Bank, Corp, and CEO face class-action lawsuit over alleged transfer of FTX user deposits to Alameda accounts

A class-action lawsuit has been filed against Silvergate Bank, Silvergate Capital Corporation, and Silvergate CEO Alan Lane in the California Southern District Court. The suit, brought by plaintiff Joewy Gonzalez on behalf of himself and others in similar situations, alleges that Silvergate is responsible for the bankruptcy of crypto firms FTX and Alameda Research. The suit claims that Silvergate placed FTX user deposits into the bank accounts of Alameda, causing panic in the crypto market and leading to the bankruptcy of both firms. The plaintiff asserts that he invested his savings in crypto through the FTX exchange, which had promised to securely store assets and allow investors to cash them out or trade them for other assets.[Source: Cointelegraph]

SafeMoon Stats