Safemars
Crypto Overview
Overview
SafeMars is a BEP-20 token launched on the Binance Smart Chain in March 2021. The project claims to be a community-driven DeFi token that implements an automatic liquidity pool mechanism and static rewards for holders.
Purpose and Utility
The stated purpose of SafeMars is to serve as a store of value and medium of exchange while implementing automatic liquidity generation and reflection mechanics. The token charges a 4% fee on transactions, with 2% being distributed to holders and 2% being added to the liquidity pool.
Business Model Analysis
The core mechanics of SafeMars involve actual token ownership and transfer, with built-in protocol features for liquidity provision. The project does not directly involve any prohibited activities like gambling, interest-bearing loans, or adult content.
Real-World Adoption
Current usage appears to be primarily focused on trading and holding. While the project aimed to develop additional use cases, there is limited evidence of significant adoption beyond trading activity.
Development Activity
The project shows minimal recent development activity on its public repositories. Communication channels remain active but focus mainly on community engagement rather than technical development.
Token Distribution
Initial token distribution included a fair launch mechanism with no pre-mine for developers. Ownership of the contract was renounced, limiting the ability of developers to modify the contract or extract value maliciously.
Crypto Impact
To assign a comfort level investing in Safemars from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Safemars.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.