In a way, consolidation cleans up the numbers without changing the ownership rights of the investors. The same ‘reverse stock splits’ in the form of consolidation is used by SafeMoon V2. Why is Binance banned in the US In 2019, Binance was banned in the United States on regulatory grounds.In May 2021, Bloomberg News reported that Binance was under investigation by the United States Department of Justice and Internal Revenue Service for money-laundering and tax evasion. The stock market has ‘consolidation’ in place since decades and allows companies to engage in reverse stock splits.
In addition, consolidation is a DeFi feature that SafeMoon refers to as ‘reverse stock splits’. The upgradation occurs without affecting the overall portfolio balance of the users. The upgraded contract entails a 1000:1 consolidation formula that reduces the supply of circulation by a factor. V2 has upgraded contracts that has the capacity to change the coin’s consolidation formula. The V2 platform is now fully implemented and users can swap their V1 tokens to V2. The official email address solely dedicated for this feature is the SafeMoon support team at What is SafeMoon V2?įor the uninitiated, SafeMoon launched V2 to its users on the BEP-20 Binance Smart Chain platform. In addition, if none of the above wallets, apps, exchanges applies to you and own SafeMoon in another format altogether: You need to contact the SafeMoon support team for guidance and they will help you with the steps to migrate to V2. There are several fake accounts on social media asking users for their private keys posing as ‘helpdesk’ to scam users. The exchanges will handle the migration process themselves and notify you through email when the process is complete. If your tokens are on an exchange: There’s no need to worry and no need to manually setup the transition. They include MetaMask, Binance Chain Wallet, Trust Wallet, Math Wallet or have access to WalletConnect dApp on your wallets. This is only applicable for SafeMoon holders with another wallet. Firstly, you need to click on the tab in green that reads ‘Consolidate to V2 SafeMoon!’ and follow the instructions to complete the process.
The steps would display on the screen once you click on the ‘consolidate’ tab and follow the instructions until ‘finished’.įor Non SafeMoon Wallet users: (Users with another wallet) – You need to go to and connect your wallet to consolidate.
#Binance safemoon how to
Here’s How To Migrate Your SafeMoon Tokens To V2įollow the below detailed step-by-step guide on how to migrate your SafeMoon V1 tokens to the V2 newly launched V2 platform.įor SafeMoon Wallet users: You must update to the latest version of the app on your mobile phone and follow the consolidation process in the wallet.
0 kommentar(er)
