SafeMoon has burned 2.2 trillion SFM tokens across Ethereum, Polygon, and Binance Smart Chain networks. This action has eliminated nearly all of the Ethereum and Polygon supplies, and about 60% of the Binance Smart Chain supply. The team plans to launch a new memecoin on Solana at 1:00 AM UTC on Saturday. SFM holders can exchange their tokens for the new memecoin through the VGX wallet. The goal is to relist the token on exchanges and boost liquidity, allowing community members to recover some of their investments. SafeMoon, once valued at $17 billion, now has a market cap of around $41 million. The company declared bankruptcy in December 2023 and was acquired by the VGX Foundation.
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