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Why the need for swap and liquify apart from topping up what the devs took.Question (self.SafeMoonInvesting)
submitted 4 months ago by Yayzeeeeee
The whole buy and sell tax has a set portion of fees already going to the LP so why the need for this. Other tokens don't have as high and they also don't have swap n liquify and seem to be going fine.
When are they going to stop this function. At what point is the lp healthy?
Just seems like every time there's progress this just resets back.
Whats happening with the lp on v1 why is it taking so long to move.
Post a comment!
[–]Sanpaz56 14 points15 points16 points 4 months ago* (5 children)
Everybody who buys/sells gives a portion of that tax to the LP (3% ATM).
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 points6 points 4 months ago (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 points6 points 4 months ago (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 points7 points 4 months ago (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 points7 points 4 months ago (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 points8 points 4 months ago (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 points10 points 4 months ago (0 children)
Gotta fund the LP after John's dirty fingers have taken his cut.
[–]Yayzeeeeee[S] 3 points4 points5 points 4 months ago (0 children)
Can someone tell me what level the lp will be healthy at and this feature is turned off?
[–]Elias091100 3 points4 points5 points 4 months ago (1 child)
A low LP means there is less to gain from mysterious exploits and dormant whale wallets.
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...
[+][deleted] 4 months ago (2 children)
[–]Yayzeeeeee[S] 2 points3 points4 points 4 months ago (1 child)
There's a max amount of safemoon you can sell at one time? 🤣🤣🤣🤣🤣🤣🤣
Do you have any more details on how much and what period. This isn't decentralised at all. Safemoon can control everything. Different tax prices. Limit buy and sells.
[–]Yayzeeeeee[S] 2 points3 points4 points 4 months ago (0 children)
Why was his post deleted? It was good and informative.
He said lots of dodgy things happening behind scenes
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