The Safemoon team has announced that as of 2AM UTC on the 10th May 2022, Safemoon is now live on the Mandala Exchange. John Karony, the CEO and founder of SafeMoon, says that it is one of the fastest growing crypto companies and communities. This is an ever growing partnership between SafeMoon and Mandala as the SafeMoon tean looks to grow from Local Tokenomics to Global Tokenomics.
With this initial launch we are only looking to go live with Local Tokenomics. Now what does that mean to the holders of SafeMoon? Well, as you well know, there is a 10% fee on each trade and this fee split into four different methods of use:
Reflections – 4% is Redistributed to all existing holders
LP Acquisition – 3% is added to liquidity
Token Burn – 2% of tokens are burned
Growth Fund – 1% is added to the SafeMoon Ecosystem Growth Fund
Now that we understand the above, how does it work for Mandala? It’s quite simple, really. All traders will be taxed the standard 10% SafeMoon tax, as well as a Mandala trading fee (standard exchange fee). The Mandala fee can be reduced depending what $MDX locking tier you are in (base trading fee is 0.1%, traders can receive up to 35% off trading fees by locking Mandala native token, $MDX).
Mandala will send 6% of collected taxes to the SafeMoon team to distribute to their allocated addresses for their LP, burn and growth fund.
The 6% will be sent to the SafeMoon team via address: 0xf218BEBCfb919Fc6CD73Df9ABDdBD5DAEd1a6c57
From there, the SafeMoon team will distribute accordingly.
The remaining 4% will be distributed to Mandala SFM holders bi-weekly.
When do I receive my reflections?
Mandala will take a snapshot of all SFM holders on the 1st & 15th of every month at 12AM UTC . SFM holders will be sent their reflections within 72-96 hours after the screenshot is taken.
Users that trade and hold their SFM on Mandala exchange can enjoy SAFU funds, as well as collect their 4% local SFM reflections bi-weekly.
Does Mandala affect my holdings in the SafeMoon Wallet?
Yes, It most certainly does. So remember the 6% that is sent to the public wallet: 0xf218BEBCfb919Fc6CD73Df9ABDdBD5DAEd1a6c57. This will benefit everyone on chain, the Binance Smart Chain.
3% will be applied to the liquidity pool, growing the strength of the token.
2% will be a direct burn. This will only increase the burn rate and decrease the total circulating supply.
1% will be applied to the SafeMoon EcoSystem Growth Fund.
So even if you’re not on the Mandala Exchange, the trading volume on there platform is still benefiting all holders. Now while this is not Global Tokenomics just yet, this is the first initial step to making the Tokenomics process work both on and off chain.
MoonCast 8th May 2022
On MoonCast #38, We were joined by the CEO of Mandala, Joe Reiben, where he answered some questions in relation to the partnership with SafeMoon and the entire journey to the launch of SafeMoon on their exchange.
Mandala Competition: SafeMoon Spin-Off
What is SafeMoon Spin-Off?
Here’s how it works:
The SafeMoon Spin-Off prize pool will be generated from a percentage of revenue generated from trading SFM. The more volume generated on the pair, the larger the prize pool will be.
Assemble the army!
How to enter:
To qualify for SafeMoon Spin-Off, you must have a minimum of 1,000 MDXT locked and hold a minimum of 32,000 SFM on Mandala Exchange.
For every 32,000 SFM held on Mandala, you will receive 1 entry
For every $32 SFM Market buy, you will receive 1 entry
For every $32 MDXT Market buy, you will receive 2 entries
Market buys over $32 will receive additional entries accordingly.**
Market Bought $64 in MDXT (4)
Holds 160,000 SFM on Mandala (5)
Total Entries: 9
Market bought $3200 in MDX (200)
Holds 320,000 SFM (10)
Market bought an additional $320 worth of SFM (10)
Total Entries: 220
SFM Deposit Bonus Entries:
The first 1,000 people to deposit 100,000 SFM each will receive bonus entries based on the following:
First 32 to deposit greater than or equal to 100,000 SFM = 32 entries each
Next 168 to deposit greater than or equal to 100,000 SFM = 16 entries each
Next 300 to deposit greater than or equal to 100,000 SFM = 8 entries each
Next 500 to deposit greater than or equal to 100,000 SFM = 4 entries each
How big will the prize pools be?
Let us break it down for you all…
At $10mil SFM volume a day:
$10mil SFM volume a day x 30 = $300mil/month Lottery Pool = 0.015% of total SFM volume 0.015% of $300mil = $45,000
How many winners will there be?
32, of course…split equally
What are my chances to win?
Size doesn’t matter…or does it?
Your chances to win are directly proportional to the amount of SFM you hold on the exchange, as well as the number of bonus entries you’ve accrued. The more SFM & MDX you stack, the better chance you have at winning the SafeMoon Spinoff Pool!
How do I know if I won?
Winners will be randomly selected at the end of each month and tokens will be automatically distributed to your Mandala SFM wallet.
You must have at least 1,000 MDX LOCKED and a minimum of 32,000 SFM in your account to qualify for SafeMoon Spin-Off.
Although additional locked MDX do not grant you more entries to SafeMoon Spin-Off, they DO grant you additional entries into our original Mandala Madness Pool!
PS: We are going to start off by seeding the pool $5000!
If Mandala sees our users driving consistent volume to SFM we just MIGHT continue to BOOST the reward pool!