What Is SafeETH (SAFEETH)?
SafeETH is a Defi token. According to the SafeETH website, SafeETH is a deflationary autonomous yield and liquidly generation protocol. SafeETH applies a tax of 4% to every transaction, which is then split in half. While 2% of the fees are distributed proportionally across the existing holders, the other 2% goes automatically to the liquidity pool.
What Is The Purpose Of SafeETH?
According to the SafeETH whitepaper, the purpose of SafeETH is to provide token holders with a way to earn yield from their tokens without having to stake or farm. Also noted is that the splitting of these fees provides holders with an incentive to continue holding for longer periods in order to realize this yield. Additionally, the whitepaper asserts that the automatic LP adds stability to the protocol by providing a price floor on SafeETH for token holders and the automatic burn strategy helps SafeETH token holders in the long term.
How Many SafeETH Coins Are There?
SafeETH launched on March 23th 2021 with a total supply of 1,000,000,000,000,000. Sixty percent (60%) of that supply was sent to a dead address (burned), leaving current circulating supply under 400 trillion.