SafeMoon is all set to be upgraded to V2 but the launch date has not been announced yet. However, the DeFi token has started a V2 upgradation countdown on social media. SafeMoon’s official Twitter handle extended the phrase “V2 coming soon” to its name and began the countdown.
CEO of SafeMoon, John Karony shared updates on the development of the project by announcing a new transitioning team. The former Chief Blockchain Officer (CBO) Thomas Smith, commonly known as ‘Papa’ has been replaced by a new team. The change is part of the company’s restructure and preparation for the launch of V2.
SafeMoon will be a restructured team during the launch of V2. The new team will infuse fresh ideas into the DeFi project with an aim to make it an industry leader in terms of innovation.
“Improvise, adapt and overcome. It’s not only about what you know, but your ability to adapt to a situation and having a level of resiliency to not give up in the face of a challenge. This is especially important in an emerging tech industry. #SAFEMOON is the #Evolution!,” tweeted Karony.
Even The Fud Hound shared his thoughts about the new SafeMoon team saying resiliency is what makes the unit strong. “The one thing that has always attracted me to #SAFEMOON was it’s resiliency. Every single day is a challenge in a slightly different way, but for certain people who love a CHALLENGE, that just adds more fuel pump to the tank! Good things in due time #SAFEMOONARMY,” he tweeted.
What is SafeMoon V2?
Safemoon’s V2 involves getting upgraded contracts that have the ability to change its consolidation formula. For the uninitiated, consolidation is a DeFi feature that SafeMoon refers to as ‘reverse stock splits’
The traditional stock market allows firms to make reverse stock splits as it would benefit the shareholders. The same reverse stock splits in the form of consolidation is used by SafeMoon for the benefit of its investors.
In conclusion, consolidation is a way to clean up the numbers by not changing the ownership rights of the investors.
SafeMoon revealed the upcoming features of the V2 upgradation and stressed that the development is safe and secure. ”3 reasons why #SAFEMOON V2 is the Evolution. Upgraded contract implementing a 1000:1 consolidation. Increased quality, security, and accessibility of SafeMoon. Preparing us for a warp-speed future.”
At the time of publishing, SafeMoon was trading at $0.00000327 and is up +1.5% in the 24-hours day trade.