- SafeMoon has relaunched on Solana with a new DAO and leadership.
- The SafeMoon community is voting to revive reflection rewards for engagement.
- SFM price shows signs of recovery but faces cautious sentiment.
SafeMoon (SFM), once hailed as a community-powered force in decentralised finance (DeFi), is attempting a bold comeback under new leadership.
This comes after a troubled history of scandals, losses, and legal fallout that left many investors disillusioned and the project all but declared dead.
Now, with a completely new team and a fresh launch on the Solana blockchain, the rebranded SafeMoon DAO is hoping to rekindle trust, rebuild momentum, and deliver on the promises that were once broken.
However, whether this revived vision can translate into a real rise in the value of the SFM token depends on both market sentiment and the new team’s ability to follow through with action.
A fresh start on Solana
The newly established SafeMoon council, operating as a decentralised autonomous organisation (DAO) on Solana, has formally distanced itself from the previous management.
In a public letter to the community, the council has issued a heartfelt apology, acknowledging the pain of past failures while vowing to chart a more transparent and community-led path forward.
By relaunching on Solana, a blockchain known for its speed and low transaction costs, the new team hopes to create a more robust and scalable environment for SafeMoon’s ecosystem.
They have also emphasised that none of the individuals involved in the original SafeMoon leadership—now embroiled in fraud convictions and criminal charges—are part of the current project.
This complete organisational reset may help reframe SafeMoon in the eyes of the crypto community, especially as the new team leans into transparency, accountability, and community engagement.
Legal clouds still loom over SafeMoon
Despite the renewed efforts, the dark cloud of past scandals continues to cast a long shadow over SafeMoon’s reputation.
Just last month, former CEO Braden Karony was convicted in a US federal court on multiple counts of securities fraud, wire fraud, and money laundering after his arrest in 2023 and the Safemoon CTO’s guilty plea in February this year.
Karony’s actions, including the misappropriation of over $9 million in crypto assets, helped trigger the collapse of the once $8 billion token and left many investors reeling.
To make matters worse, a 2023 smart contract vulnerability—infamously known as the “burn bug”—allowed hackers to exploit SafeMoon’s liquidity pool and siphon off $8.5 million in a single day.
Although the FBI managed to recover approximately $680,000 from the breach, the financial damage and loss of community trust have been immense.
However, with the project’s leadership now completely overhauled, supporters argue that it’s unfair to judge the new team by the sins of their predecessors, although this remains to be seen.
A new DAO proposal sparks optimism
In a sign that the community is willing to give the project another chance, the newly constituted SafeMoon DAO recently launched a governance proposal aimed at incentivising participation.
The proposal, which seeks to bring back a “reflections-style” reward system tied to DAO voting activity, has generated overwhelming support from token holders.
The community is currently voting for the proposal with hours left before the voting ends.
At press time, more than 13 billion votes—accounting for 99.9% of the total—were cast in favour of developing this reward mechanism.
The reflections model, once a core part of SafeMoon’s appeal, redistributed a portion of transaction fees back to holders and helped drive initial excitement.
Reintroducing this mechanism, but this time linked to governance participation, could motivate long-term engagement while enhancing the utility of the token.
The council has also committed to showcasing creative community projects in a metaverse gallery and using their official channels to spotlight SafeMoon holders’ efforts across the broader crypto space.
Can the SFM token really rise again?
SFM’s price has shown notable signs of recovery, currently trading around $0.00001418, with intraday highs near $0.0000152 and lows at $0.00001417.
Over the past week, the token has fluctuated modestly, dipping around 5% as the broader crypto market.
In April, SFM experienced a sharp 25% uptick following SafeMoon’s migration to Solana. The gains were, however, tempered by profit-taking that caused a resumption of the bear trend.
Now, whether the SFM token can climb back from its fall depends largely on the new team’s ability to deliver consistent results over time.
For many in the community, the transparency and energy surrounding the Solana relaunch mark a stark contrast to the previous regime’s opacity and misconduct.
Importantly, the reintroduced governance rewards might provide long-term price support by encouraging sustained token holding and engagement.
Momentum is clearly building again, driven by grassroots engagement and a deep desire among holders to reclaim SafeMoon’s lost glory.
However, analysts warn that current selling pressure could negate momentum unless the team delivers on roadmap items and DAO initiatives.
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SafeMoon has relaunched on Solana with a new DAO and leadership. The SafeMoon community is voting to revive reflection rewards for engagement. SFM price shows signs of recovery but faces cautious sentiment. SafeMoon (SFM), once hailed as a community-powered force in decentralised finance (DeFi), is attempting a bold comeback under new leadership. This comes after
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