SafeMoon will soon take things to the next level with the launch of V2. Investors believe that the development will benefit its price in the long run.
In addition, the upgrade to V2 will also increase the quality, security, and accessibility of the token and lead it in a new direction.
The popular DeFi token is aiming for wider adaptation and working to gain additional use-cases with the launch of V2. In other words, the upgrade will give it an opportunity to spread its wings and be among the top contenders in the market. The move will attract new and first-time investors into its fold and can propel its price to new highs.
Here’s The Latest Update on Safemoon V2
Above all, The CEO of SafeMoon, John Karony retweeted an update on V2 and hinted its in the final process of upgrade. ”SafeMoon progression for #SAFEMOONV2 V2 Contract = DONE. Third-Party = DONE, QA = Final Testing! @Safemoon is Inevitable! #SAFEMOON | #SAFEMOONARMY, the tweet read.
SafeMoon’s V2 contract is completed and the third party development is completed as well. However, the Quality Assurance (QA) is in the final testing mode and could be rolled out shortly.
What Is V2 and Why is it Important?
SafeMoon’s V2 is important to the future of the token because its upgraded contracts have the ability to change its consolidation formula. For the uninitiated, the consolidation formula is a DeFi feature similar to reverse stock splits in the stock market.
The stock market has a feature that allows shares to do reverse stock splits as it would benefit the shareholders. The SafeMoon team will use the same reverse stock splits formula of consolidation in the V2 upgrade.
SafeMoon had revealed the upcoming features of their V2 upgrade as,
”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 $0.00000369 and is up +1.2% in the 24-hours day trade. The coin is therefore experiencing profit bookings this month and is sending mixed signals.
The token had spiraled upwards +300% in October 2021 and investors are indulging in large sell-offs at the moment. In addition, after the V2 upgrade is announced, the coin is expected to shoot up.