Are you interested in understanding SafeMoon SWaP transactions at the blockchain level with the newly incorporated patent pending Token Monetization Innovation?
We'll show you how to do this step by step using BSCScan.com, so that you can fully understand each transaction you make. Before you begin, we recommend that you read our SafeMoon Contract Guide and SafeMoon Wallet Guide to gain a better understanding of the components of a SafeMoon SWaP transaction.
When you make a transaction with SafeMoon SWaP, the transaction is stored publicly on the blockchain. SafeMoon currently operates on the Binance Smart Chain (BSC), which allows for easy viewing of the public blockchain on BSCScan.com. It may seem daunting at first, but it's actually quite simple once you understand the basics.
To view a transaction with SafeMoon SWaP on BSCScan, start by looking for the transaction in the tokens list. Click on the token in the Wallet tab - if you are swapping into SafeMoon, click on SafeMoon; if you are swapping out of SafeMoon, click on the token you are swapping into. This will take you to the SafeMoon Wallet, where you can see all of your transfers for that particular token. From here, you can click on any of the transactions to see more details in the wallet. Under those additional details, you will find a link to "view transfer on BSC," which will allow you to view the blockchain transaction at a deeper level.
Now that you have opened a transaction on BSCScan, let's go over a typical SafeMoon SWaP transaction and explain what's happening with the various transaction events displayed.
SafeMoon SWaP Fees
The SafeMoon SWaP has recently undergone an upgrade to improve its system for collecting fees. Previously, it had collected LP Tokens for its 0.25% swap fees. However, with the introduction of the Token Monetization Innovation, SafeMoon is now able to collect its SWaP fees directly in the native token (i.e. BSC or ETH) as shown in the example above, with these fees being collected directly in the contract.
This means that rather than collecting fees in the form of LP Tokens, SafeMoon can now collect fees directly in the token being used in the swap. It's important to keep in mind that these fees are in addition to any other fees that may be associated with the swap, such as those related to Tokenomics. You can see the collection of these fees directly in the contract as demonstrated in the example provided.
Your Initial transaction
On your initial transaction, the Swap fee would already be deducted. So you will be initiating a transaction at 100.25% value as the swap fees are 0.25%.
SafeMoon Contract Fees (SafeMoon Tokenomics)
It is important to know that a total of 10% tax is applied on swaps with SafeMoon, the SafeMoon Tokenomics. Below you will find the explanation of where 6% of that fee goes. But there is the remaining 4%, which isn't going to show on a transaction. This 4% is the reflection distributed within the SafeMoon Contract to all holders.
1) 3% of the SFM tokens are sent from the SFM/WBNB liquidity pool to the SFM V2 contract address as part of the 10% buy/sell tax. These are the tokens that will be going back into the liquidity pool through Swap and Evolve.
2) 1% of the SFM tokens are sent to the SafeMoon ecosystem growth fund as part of the 10% buy/sell tax.
3) 2% of the SFM tokens are sent to the burn wallet as part of the 10% buy/sell tax. These tokens are now removed from the circulating supply forever.
Final delivery of your chosen tokens
4) Once all fees have been deducted, the transaction will calculate the final value for the swap to your chosen token. In the example above this was 0.2945637 SFM.
5) With some transactions you might find that there is a multi-swap involved, meaning your transaction would be required to swap into another token to reach your chosen token. In most cases, this would be a native token.
6) The final part of a transaction will simply be the chosen token your looking to swap into based on your initial request.