BLAST/USD (-0.77%)
SafeBlast is a utility cryptocurrency project started in 2021. It has a native token called BLAST that was launched on the BNB network. The coin is deflationary in nature in that a small amount is removed from circulation with every transaction.
The project has a renounced smart contract, meaning the creator cannot manipulate it to their advantage. Additionally, holders get a portion of half of the transaction fee based on the number of tokens in their wallets.
And the rest? It's kept in the liquidity pool. This network charges a 10% fee on each amount transacted on the BNB network.
A Bit About SafeBlast
SafeBlast can be described as a utility coin. It was created in May 2021 by a team of crypto enthusiasts keen to see a token that increases value over time. This team is led by Abe from the USA and several volunteers who are willing to grow the BLAST ecosystem. Other notable figures in the development team include Shyam Thakur, Saqib Zahoor, and Sean.
This token stands for ease of transactions while enhancing the value of each coin held. The development team wishes to make cheap transactions across different chains while ensuring the holder of the coin gets the maximum benefit in terms of increased value. This is why each transaction they make reduces the number of available tokens.
The coin can be used online for any type of transaction. Holders can buy goods and services with it or use it as a store of value, as it is expected to appreciate over the years.
SafeBlast (BLAST) is a utility token built on the Ethereum blockchain. It is a fast, low-cost, scalable, layer 2 chain that is EVM compatible. Users of the blockchain can access the Ethereum blockchain at a low cost, which helps make transactions cheaper. This token and blockchain were released on the BNB network.
BLAST takes a 10% fee from each transaction that happens on the BNB chain. The fee is divided into two parts. Half of the fee goes to the rewards. This amount is auto-distributed to every holder that has the token in their wallet based on how many tokens they have. There is a burn wallet on the system that receives the most coins to remove them from circulation. This way, there are fewer coins after each transaction.
The second part of the fee goes to liquidity. This amount goes back to the PancakeSwap liquidity pool. The LP generation pool is also locked. This enables the growth of the ecosystem as 5% goes into conversion to BNB coin and pairs with the other half in BLAST. No amount can ever be withdrawn from the locked pool.
BLAST uses a renounced smart contract. This means that no individual or entity can mine or manipulate the ecosystem for their own benefit. Its liquidity automatically locks after each transaction. At the time of launch, one quadrillion tokens were released. However, as the amount goes down daily, holders have to check the available coins on the blockchain.
More recently it's been added to Arbitrum, Optimism, Matic and Fantom.
Utility of SafeBlast?
As explained above, BLAST is a utility token that can be used for the purchase of goods and services on the internet. It means the holders do not have to exchange the coins with others for them to make a purchase. There are several benefits that accrue from holding these tokens, as we explain below.
First, the holders of the coin get a portion of the 5% transaction fee charged to other users. So, by holding the coin, users see the value increase over time. Second, the value of the coin increases due to its deflationary nature. The more users transact, the more coins are removed from circulation in order to enhance demand.
Third, the coin is based on the Ethereum network and released on the BNB ecosystem. This ensures safety for the tokens that are held on the network. The renounced smart contract means that no one has the code to manipulate the ecosystem to their advantage. There are other networks too like Arbitrum, Matic, Avalanche and more.
SafeBlast Price details
ETH Contract address: 0x614D7f40701132E25fe6fc17801Fbd34212d2Eda
›› Details & Tokenomics
›› BLAST tokenomics and social media
Advantages of SafeBlast
+ The coin increases in value over time due to its deflationary nature+ BLAST is based on the BNB network, which is secure
+ Gamers can earn BLAST tokens on games that give out these coins in winnings
+ BLAST enables cross-chain purchases across Polygon, Fantom, and Base, among others
+ SafeBlast holders earn a part of the fee charged for each transaction
Disadvantages
- There are a few merchants that accept BLAST for transactions so far- BLAST has not been increasing in value fast, making it less attractive as an investment
- The chain-to-chain bridge only accepts coins from a few blockchains
- BLAST charges a high fee of 10% on its transactions
- Users of BLAST are stuck on the BNB network to earn their benefits
Costs
▪ Rated at 10/10There is a 10% fee on all transactions made on the BLAST network. This cost is quite high compared to the cost posted by most utility coins. However, it is lower than leading coins like Bitcoin and Ethereum.
Users can swap their BLAST coins for free with a limited number of coins in other chains whose tokens are available on the BNB network.
Reputation and Buzz
▪ Reputation rated at 8/10▪ Buzz rated at 7.5/10
The SafeBlast project and the native token were well received in the cryptocurrency networks. There are several reasons that led to this. First, the project was launched on a trusted BNB network. Second, the coin solved a real problem, which is offering utility services for users around the world.
The project has received coverage from leading new distributors around the world, including Bloomberg, Benzinga, NASDAQ, Market Watch, Yahoo News, Yahoo Finance, and Business Insider. It has also had positive analysis on various crypto forums and leading news outlets like CoinMarketCap.
FAQ
What is a renounced contract?
This is a case where the creator of the said token relinquishes control. This prevents them from making changes to the blockchain, minting new tokens, or drawing funds already in the contract.
Where can I buy BLAST?
You can see where to buy it by scrolling down and seeing our list of support brokers.
Is this the same as the more recent BLAST?
No it's not the same, and they're in no way related to each other. But considering they have the same ticker it can be confusing. We have the other Blast reviewed here.
History of SafeBlast
September 2021 - BLAST is launched, and an airdrop happens shortly thereafter.
June 2021 - A 56% prelaunch burn happens to reduce the number of coins in circulation.
April 2022 - The BLAST coin-to-coin Bridge is launched. The bridge works with other chains like Polygon, Fantom, and Base, with more expected to join in in the future.
Screenshots from SafeBlast
More sites where to buy/sell/trade SafeBlast
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
SafeBlast details and tokenomics
BNB Contract address: 0xddc0dbd7dc799ae53a98a60b54999cb6ebb3abf0
ARB Contract address: 0xe0eb31082bbf8252f7425c6dd72a8c6b3bfbe99f
