During the Asian session on Wednesday, the SafeMoon token ($SFM) demonstrated a sharp jump after the project announced the launch of a new meme coin on the Solana blockchain and the airdrop for current holders of the already released token.
As part of this announcement, SafeMoon is burning trillions of tokens on Ethereum, Polygon, and Binance Smart Chain, simplifying the supply structure and increasing the value of the remaining assets.
SafeMoon has chosen an unconventional approach to the airdrop – tokens will not be distributed all at once, but will be gradually allocated. This prevents mass sell-offs that would hinder adequate price development and helps maintain steady growth.
"This will not be a typical airdrop. Tokens will be released gradually, following a specific curve," explained SafeMoon representatives.
This response followed concerns from the community. A Twitter user named Cosmo expressed doubts that the airdrop of new tokens to old investors would not lead to a mass dump.
"You are giving new tokens to old investors when they exchange their 'dead' assets. Won't this cause a dump? How will this attract new investors?" asked Cosmo.
SafeMoon responded that gradual distribution will ease the pressure on the asset. The project is confident that long-term holders who have endured tough times will continue to support the ecosystem.
"The best way to attract new participants to the community is to place the token where it is easier to exchange and where the culture of meme coins thrives, and that is definitely Solana," noted SafeMoon.
The project has faced serious difficulties, including legal issues in 2022. Now SafeMoon is fully controlled by the community and belongs to the VGX Foundation. The project does not have a traditional roadmap – instead, the team is focused on developing the ecosystem and the culture of meme coins.
The new token will be available for exchange through the VGX wallet, which should increase liquidity and revitalize the community. The positive response to this news is reflected in a 108% rise in SFM, signaling a return of interest in SafeMoon.
Against the backdrop of news about SafeMoon's transition to Solana, fake accounts and fraudulent offers have begun to appear in the network. The project team warned users about potential risks:
"Wow, it seems like the 'SafeMoon support service' hired an army overnight... Oh, right, it's SCAMMERS. If someone messages you privately, it's a scam," warned representatives of SafeMoon.
It is important to note that the official contract for the new token has not yet been published. Users should be cautious and trust only official sources, verifying even the information published there, due to the increasing frequency of hacks of official project accounts, in order to protect themselves.
The decision to launch a new token on Solana is a strategic step. The blockchain is known for its low fees, high transaction speed, and active meme community. This gives SafeMoon the opportunity to attract new users and rekindle the interest of existing investors.