SafeMoon AMA Unveils Simplex Partnership, Community Testing Plans

The development team behind the cryptocurrency SafeMoon announced a number of updates in their most recent "Ask Me Anything" session, including plans to use Minecraft as a platform to test how the token could be integrated into video games.

The crypto token SafeMoon was launched in March this year. Since then, it has gathered an active fanbase and is listed as one of the most viewed tokens, according to CoinMarketCap, though it has also had critics.

John Karony, CEO of SafeMoon, and Jack Haines, COO, held a livestream video on Sunday to answer community questions and provide updates.

The team said they had plans for a "community test bed" that Karony called "a fun, inclusive way to incorporate the community with our testing of [...] different technologies."

The team added they have created a server within the Minecraft video game that will be part of this test bed, and added that more details would be available on Twitter and on the online chat platform Discord. The server will be used to "stress test" new developments, including non-fungible tokens (NFTs), i.e. one-of-a-kind digital assets that can be bought or sold, as a property would in the physical world.

Other new features included updates to the SafeMoon cryptocurrency wallet, including a dark mode and customization options, such as profile photos. No specific date was available for the updated wallet's release.

The team also announced a partnership with Simplex, a platform that allows users to purchase cryptocurrency using a credit or debit card.

There were no updates regarding the deliberately spelled "Operation Pheonix"—a project the group has provided almost no details on—but Karony said more information should be available in a week's time.

Karony also warned viewers not to give out their cryptocurrency wallet address to anyone claiming to be from the SafeMoon team. He said: "The core team will never ask for your wallet. So if somebody online is saying, 'hey, I'm from the core team, the support staff, send me your wallet address,' that's not us."

The cryptocurrency security auditing firm CertiK recently announced it had completed an assessment of SafeMoon and given it a security score of 82/100, placing it 68th out of the 325 tokens that are listed on the CertiK site.

Last week, John Wu, president of the Ava Labs blockchain development firm, told Newsweek that security audits could not catch all bugs and that "users should continue to do their own research, and be active members of projects' communities so they can hear any early alarm bells from fellow members."

"It is still unclear what the utility or long-term plan is for SafeMoon," Wu added.

Edward Moya, a senior market analyst at the Oanda currency platform, told Markets Insider earlier this month that many view SafeMoon as a "pump-and-dump coin," adding: "It seems unlikely SafeMoon will ever make it to the moon."

Thomas Yeung, a market analyst writing for InvestorPlace, last week called SafeMoon an example of "cult stock" investing that was reminiscent of the GameStop saga.

The token works by issuing a 10 percent fee on transactions and redistributing 5 percent of this to users who already own SafeMoon. SafeMoon is currently down 30 percent on the day at the time of writing to a price of around $0.0000068—though this can change rapidly. Dogecoin and Bitcoin are worth around $0.51 and $58,000 respectively.

Experts have previously warned Newsweek about the risks associated with cryptocurrency investing.

Stock market on phone screen
A stock image shows someone looking at an asset price on their phone screen. SafeMoon has gained an active fanbase since entering the cryptocurrency market. Zapp2Photo/Getty