Safemoon launched BSC on March 8, which has grown 200 times in less than a month. That is, if you invest 10,000 RMB to buy Safemoon on March 3rd, you will have 2,000,000 RMB by April. It should be noted that even though Safemoon’s price has fallen to $ 0.000003, investors can still face high levels of risk in buying Safemoon now.
What can Safemoon be used for? The team openly admitted that it was useless; if there has to be, it takes advantage of a unique mechanism to get people to hoard tokens. Compared to Safemoon at a steep price, the up and coming 4JNET is in the spotlight. 4JNET, which is classified as an updated Safemoon, is still in its infancy, but it is quite promising.
According to an official statement, 4JNET started advance sales of limited edition NFTs on October 18, and a total of 5,000 limited edition NFTs will be distributed. After the start of the project on December 1st, all NFT holders will be able to claim 30% of all tokens issued, unlock 2% every day and enjoy a 3% reduction in service fee. The purchased 4JNET tokens will be added to the liquidity pool to maximize benefits.
I. The unique mechanism of 4JNET
4JNET will introduce a mechanism to lower service fees in order to stabilize prices. Specifically, 90% of the initial transaction amounts are used as a service fee, 6% are distributed to all token holders via tokens and the remaining part is automatically transferred to the liquidity pool.
As transactions increase, the service fee is gradually reduced to 10%, thus closing the gap between early and late investors. 4JNET’s early investors have to pay high service fees even if they buy earlier, which are automatically fed into the liquidity pool to encourage steady price increases and alleviate price instability due to selling pressures.
4JNET’s unique mechanism largely reflects the “HODL” idea of encrypted tokens, which advocates “buy and hold” regardless of their short-term appreciation or depreciation. In essence, its fairness, security and transparency increase investor confidence to hold the tokens for a long time or to trade at the right time so that one day they can get rich.
II. Comparisons between 4JNET and Safemoon
1. Total circulation
Currently, Safemoon is said to have issued 1,000,000,000,000 tokens, but its upper limit, according to the contract, is 1,000,000,000,000,000,000,000,000, which is the number of all atoms in 1,000,000 galaxies. In contrast, only 5,000 4JNET NFTs are issued and all NFT holders can enjoy a 3% discount on the service fee.
2. Token possession
@waronrugs, a KOL with 100,000 followers on Twitter, said 50% of Safemoon is owned by its founding team, so they could potentially crush the market at any time. All of 4JNET’s business logic follows the smart contract, and the team does not own 4JNET tokens and have no access to investors’ funds.
3. Technical skills
Safemoon’s contract is copied directly from Ethereum’s RFILIQ smart contract. Not only does Safemoon keep the misspellings of the original contract, but it also keeps some dubious questions that affect Safemoon’s security. However, the core team of 4JNET comes from internationally renowned companies such as Oracle, Microsoft and IBM and therefore has technical strengths.
III. The four guarantees of 4JNET
1. MSB license: 4JNET has secured the US-MSB license for encrypted tokens and is legally allowed to participate in ICO, IEO and encrypted token transactions.
2. Transparency: All of 4JNET’s business logic is achieved through smart contracts. All contract addresses and codes are open source.
3. Contract review: 4JNET’s smart contract has been reviewed by the blockchain security company CertiK and its security and fairness are further guaranteed.
4. Fairness: 4JNET’s unique mechanism effectively curbs token oligarchs and centralized ownership of tokens.
To the best of our knowledge, the news that 4JNET’s limited NFT edition is about to be released and the project will start soon has caused quite a stir in the market. KOLs in the token industry indicated that 4JNET with its unique mechanism will soon take a market share and outperform Safemoon. A new star is rising!