SafeBank token – What is SafeBank YES?
SafeBank token was one of the most exciting projects to appear in the last couple of years. All started very well, with a $1.6-billion market cap upon the project’s launch. But as with any other ICO, you cannot predict all circumstances on the way regarding the token’s performance.
Here is a quick overview of the SafeBank token and its protocol.
What is the SafeBank Yes project?
SafeBank token is an auto liquidity-generating protocol developed by DafriBank Digital. It was the first Binance Smart Chain project that achieved a fantastic $1.6-billion market cap in less than 24 hours upon its launch.
In April 2021, DafriBank launched this protocol on the Binance Smart chain called BEP-20. Once it achieved a $150 million market capitalization, the whale attack decreased the market cap to $30 million. The only way to get out of this situation was to recreate the token and develop one with an anti-dumping mechanism. The creator and team members working on the project promised investors they would receive their old SafeBank tokens. They invited them not to dump the coins. In that case, the project won’t be able to renew the project again.
SafeBank was self-proclaimed as the first decentralized bank enabling clients to take control over their assets. It was run by the Revolut of Africa, leveraging DafriXchange, Africa’s largest crypto exchange by outreach.
The founders of SafeBank Yes
The team behind the creation of SafeBank consisted of two South African investors and financial experts: Catherine Anajemba (Managing Director of DafriGroup PLC) and Xolane Ndhlovu (DafriGroup PLC Chairman).
What is a SafeBank token?
SafeBank token, or SafeBank YES, is a cryptocurrency built on the Ethereum blockchain designed to offer users financial freedom and security. It is an ERC-20 token compliant with the Binance Smart Chain and intended to provide users with the highest level of privacy and safety. This token has been built to provide users with a secure, low-cost, and fast way to transfer money from one account to another.
SafeBank is used to securely store and transfer value on the Ethereum blockchain.
Suppose you want to invest in this token. In that case, it is crucial to scrutinize the market. Be aware of potential risk involved in investing in the crypto market before making any decisions. While SafeBank YES may offer potential rewards, it’s also essential to understand the risks associated with investing in such tokens. As always, consulting with a financial advisor before making any investment decisions is important.
SafeBank Tokenomics and price analysis: should you invest in it?
Before the launch in 2021, the team announced the following: A max supply of 1,000,000,000,000,000, with 450,000,000,000,000 tokens that are planned to be burned and an initial total supply of 550,000,000,000,000 tokens.
However, the project is dead or inactive and is either gone or recommended not to use. There is no relevant data regarding the trading volumes, circulating supply, etc. The social media accounts are not available, as well as the project’s white paper.
If you look at some forums, you will see different opinions from one year ago. The positive one dominates. As for the negative, they are warning the project is a scam, and if you’re detected selling a considerable portion of your tokens. The remaining tokens can be sold/transferred once the wallet address is frozen since the smart contract blocks it.
