Safemars ProtocolPrice

(SMARS)

Safemars Protocol, also known as SMARS, is a decentralized finance project operating on the Binance Smart Chain. It functions as an autonomous protocol designed for generating both yield and liquidity. The project's core mechanism involves a four percent tax applied to every transaction. This transaction tax is allocated in two ways. Two percent is immediately distributed to existing Safemars token holders, allowing them to accumulate more tokens simply by holding them in their wallets without needing to actively farm or claim rewards. The other two percent is paired with Binance Coin (BNB) and automatically added to the project's liquidity pool. This process is intended to continuously increase the liquidity. Safemars is described as a community-driven initiative, emphasizing community participation for its growth. Its primary goal is to provide passive income to its holders and to establish a continuously increasing liquidity base. The project highlights several safety features. These include an initial burning of Liquidity Pool tokens, regular burning of newly generated Liquidity Pool tokens, and contract audits. The development team states that the protocol has no minting functions and that liquidity is locked indefinitely through the consistent burning of BNB/SMARS LP tokens. Safemars launched on March 13, 2021. Upon launch, over half of its total token supply was sent to a burn address, often referred to as a black hole address, with a continued burning of a portion of transaction fees, which can contribute to a reduction in overall supply. A small portion of the total supply was allocated to the project's team. As a BEP-20 token, Safemars is built upon the Binance Smart Chain. Learn more

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