Safemoon Swap is on a listing spree as the DeFi platform is onboarding stable coins for trading. Safemoon Swap listed Chainlink today for users to swap and trade the coin on the platform.
Since January, Safemoon Swap is on a listing spree as the DeFi platform is onboarding stable coins for trading. Just a few weeks ago, Cardano (ADA) saw itself get listed on Safemoon Swap. Along with stable coins, Swap has also listed meme-tokens such as Shibnobi, Shiba Inu among others for trading.
Chainlink was already on the Safemoon Wallet as a custom token and is now open for trading on Swap. Safemoon is now in competition with the larger swaps in the market such as Pancake Swap, Uniswap among others.
However, while the leading swaps have listed thousands of tokens, Safemoon is listing tokens only after they meet their criteria.
The criteria are stringent and not every token can make its way to the Safemoon Swap. For tokens to get listed on Safemoon Swap, they need to sign a contract, pass vetting and also meet the Safemoon team in person for an interview.
After these steps are completed, Safemoon Swap will consider listing the token on its platform. The stringent rules give no scope for tokens to indulge in rug pulls and protect users from potential scams.
On the other hand, its competitors list thousands of new tokens on their platform without background checks. However, this raises the chances of being rug pulled by the devs as they mostly remain anonymous all throughout.
“Anybody can list any BEP-20 network token on PancakeSwap. You just need to add liquidity to a liquidity pool. Traders can then trade your token by entering your token’s contract address,” reads PancakeSwap’s website about new listings.
NFTs Now Available For Purchase on Safemoon Wallet
Safemoon Wallet has added NFTs and users can buy their desired digital artwork on their platform. The NFTs were dropped yesterday on Valentine’s Day on the Wallet.
”Did somebody say #SAFEMOONWALLET update with #NFT support? A shiny new #SAFEMOON wallet release is dropping for the #SAFEMOONARMY… TODAY!” they tweeted.
Also, Safemoon CEO John Karony previously confirmed that they will soon launch their own NFT line called ‘Naught Naut’. However, he did not specify a timeline for the release and announced that the project will go live after completion. Moreover, you can read more about Naught Naut NFTs here.
At press time, Safemoon was trading at $0.00157169 and is up +3.3% in the 24-hours day trade.