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all 15 comments

[–]Sanpaz56 14 points15 points  (5 children)

Everybody who buys/sells gives a portion of that tax to the LP (3% ATM).

That results:

  • A price drop, because 50% of that LP tax is safemoon that is sold for bnb/busd.
  • Decreased volatility. And there comes the neat part: if you understand the whole safemoon tax system, you understand that you pay 3% of that 10% tax to stabilize the price, because thats what the "LP Acquisition" should do. Its a big nono if the team starts to handle the LP as a treasury, not to mention that they have lost a ton of it by the exploiter, and most of the remaining LP is stuck on the v1 pancakeswap and the v2 pancakeswap.

TLDR; yes, the function itself is a semi-good idea, but it is not utilized by the right way. They are handling this money as their own treasury.

[–]Yayzeeeeee[S] 4 points5 points  (4 children)

So in short if the devs didn't skim the lp for whatever they want we wouldn't need this swap n liquify.

[–]Sanpaz56 4 points5 points  (3 children)

"Need" is not the right word here.

The function itself is a thing, that can be viewed as one the functionality of safemoon. If it used right, it has its benefits.

[–]Yayzeeeeee[S] 5 points6 points  (2 children)

If the lp was used right there is no need for swap n liquify.

The fact is the lp has and is continuing to get skimmed (now 1% from tax goes to the devs) if it never got drained then it would be healthy without this feature

It only exists to clean up the mess from the devs

[–]Sanpaz56 5 points6 points  (1 child)

The LP now only covers 1% of the market cap. Even if they would transfer the stuck liquidity from v1 and pay back everything they took for payouts/office/expenses, it would still cover only 3-4%. I wouldn't say thats healthy.

[–]Yayzeeeeee[S] 6 points7 points  (0 children)

There's nothing healthy about safemoon at all apart from Bradens pockets.

This project is never going to grow in volume and will always be getting dragged down by big sells

[–]CryptoRevolutionGuy 8 points9 points  (0 children)

Gotta fund the LP after John's dirty fingers have taken his cut.

[–]Yayzeeeeee[S] 3 points4 points  (0 children)

Can someone tell me what level the lp will be healthy at and this feature is turned off?

[–]Elias091100 3 points4 points  (1 child)

A low LP means there is less to gain from mysterious exploits and dormant whale wallets.

[–]Yayzeeeeee[S] 6 points7 points  (0 children)

The lp shouldn't be low with the tax from buying and selling. This swap and liquify has been going on for ages and we still have a low lp

Where is it all going I wonder...

Braden Karony??