SafeMoon finally lands a spot on Mandala Exchange

Sahana Kiran
Source – Unsplash

The Mandala Exchange was one of the earliest platforms to embrace SafeMoon [SFM]. The asset was originally scheduled to start trading on the platform back in February 2022 itself. However, constant technical difficulties urged the exchange to delay this addition without a tentative date. Last week, the exchange affirmed that SFM would soon be a part of Mandala on 10 May 2022, and as promised the altcoin went live on the platform a while ago.

The exchange took to Twitter and shared the news with the community.

Earlier today, the exchange shared a tweet revealing that the Safemoon launch had encountered a slight delay. The now-deleted tweet read,

“Update on SafeMoon launch…we will be live soon. “Slight delay on launch of SFM trading, but don’t worry, we’ll be live soon!” – Zach Daniels, Mandala CTO

Thanks for your patience!”

This tweet irked the community as the inclusion of SFM was long-awaited. However, without any further hold-up, the exchange onboarded SafeMoon. Currently, the exchange endows SafeMoon through the trading pairs SFM/USDT. In addition to this, only the SafeMoon Protocol V2 would be supported by the exchange. Mandala affirmed that V1 deposits would be non-recoverable.

Further elaborating on the tokenomics of the altcoin, Mandala wrote,

“Traders will be taxed the standard 10% SafeMoon tax as well as a Mandala trading fee, depending what $MDX locking tier you are in (Base trading fee is 0.1%, traders can receive up to 35% off trading fees by locking Mandala native token, $MDX).”

The exchange will reportedly send 6 percent of the taxes to the SafeMoon team.

SafeMoon continues to plummet

It seems like the latest listing made no difference to the price of SFM. The altcoin seemed to be focused on the market sentiment instead. During press time, SFM was trading for $0.0004488 with a 5.44 percent drop over the last 24-hours.

Despite being ranked at 3042, the network has managed to create quite a buzz in the market.