SafeMoon, an altcoin and a blockchain-based digital currency broadly similar to Bitcoin, plans to implement a new project in the Gambia, according to CEO John Karony. The project that is knocking its way to The Gambia’s doors through Ambassador-at-Large Sankung Jawara is dubbed “Operation Phoenix.”
According to the altcoin executives, plans for this project seem in advanced preparations as SafeMoon talks with the Gambia government for approval.
SafeMoon is one of the newest and fastest-growing cryptocurrencies, even in a market that’s recently seen Bitcoin and Ethereum reach record-high values and even the tongue-in-cheek Dogecoin growing by over 11,000%. It was launched in March 2021 and has already racked up over 1 million users.
SafeMoon’s unique feature charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.
As he tweeted that the company is preparing to start “Operation Phoenix” in The Gambia, SafeMoon CEO John Karony wrote, “There’s so much excitement around Operation Pheonix, I wanted to recap that we are working to the ongoing conversations about SafeMoon in The Gambia.”
Karony also added that the SafeMoon community is pleased about the upcoming Operation Phoenix project in The Gambia.
The digital currency entrepreneur announced an imminent trip to the Gambia to present SafeMoon and its entire community to Gambia’s Ambassador-at-Large Sankung Jawara.
SafeMoon Chief Operating Officer Jack Haines confirmed that an online video presentation of the project took place this Monday early evening.
One criticism of cryptocurrencies like Bitcoin is how they’ve strayed from their original goal of providing a functional, decentralized currency to become investable commodities. It’s not clear what, if anything, you’ll be able to buy with SafeMoon, but the selling fee is at least encouraging owners not to buy and sell their tokens for now.
SafeMoon’s CEO John Karony said his altcoin does not intend to replace The Gambia’s Dalasi in its cryptocurrency operations. Instead, the blockchain’s primary focus is to serve as technology for innovation and learning purposes.
John Karony’s ambition is to position SafeMoon to go mainstream and increase adoption in the Gambia. The target is to gain more than 2 million users within the Gambian diaspora.