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Freemoon is a decentralized financial ecosystem looking to solve the current issues with deflationary tokens and blockchain systems.
Since the decentralized finance craze of 2020, numerous projects have surfaced on the crypto scene. Some of them attracted billions of dollars and thousands of investors. Nowadays, they are thriving and spearheading the DeFi revolution.
Unfortunately, not all of them followed the same course. And some turned out to be money-grabbing scams. Among them, high-yield investment programs (HYIP) seem to take the lion’s share. For instance, Bitconnect alone defrauded U.S. investors a total of $2 billion. Even today, scams like these continue to keep potential investors away from cryptocurrencies.
The good news is that not all DeFi protocols look to profit from HYIPs. On the contrary, some look to fight them and their adverse effects on investors by offering safer investment opportunities. One of them is Freemoon Finance, a community-driven DeFi protocol that we’ll discuss in this review.
What is Freemoon Finance?
Freemoon Finance is a DeFi project on the Binance Smart Chain. Its goal is to provide automatic liquidity and pay out static rewards to its participants. Also, the protocol has a native token, $FREEMOON, and holders receive rewards for active participation within the Freemoon community.
The project’s entire design aims toward solving the problems of most deflationary tokens.
According to the Freemoon whitepaper, its developers believe that the current environment is driving potential investors away. Furthermore, they condemn High-Yield Investment Program (HYIP) projects for killing people’s faith in crypto through their fraudulent designs. Lastly, it seems that in these protocols, “who ever went in and out first won.” Therefore, they deter people from pouring more money into DeFi.
Freemoon seeks to provide an investment and trading system that overcomes these issues. Moreover, it should provide more financial and technical solutions for potential investors. Above all, it should allow participants to gain money regardless of entering the crypto sphere.
And that’s not all. Freemoon plans to provide users with bot traders and the ability to transfer cryptocurrency between two different blockchains. Also, with every FREEMOON token they purchase, users access numerous benefits, including two separate sources of profit for their portfolios.
This is Freemoon’s mission as a big picture. By delving deeper into its whitepaper, we can discover how it aims to complete it.
Freemoon vs. HYIP
Some crypto projects taking part in scams have cast a shadow on the investment potential in decentralized finance. Freemoon wants to restore the investors’ trust in DeFi by citing a solution for every HYIP issue.
The problems that HYIP create, according to Freemoon Finance:
- Most HYIP projects focus on deflationary tokens with limited development potential
- Some of these projects offer anonymous multicurrency solutions in one device.
- Many HYIP protocols repeat each other. Therefore, they don’t provide investors versatile solutions.
- These protocols don’t allow users to transfer cryptocurrencies between different blockchains.
Additionally, many HYIP projects purposefully start as scams. They invest substantial amounts in advertising and showcase expensive, pro-looking websites. However, backstage of this elaborate production, their so-called developers prepare to scam naive, poorly-informed investors.
High-Yield Interest Programs need an antagonist, and Freemoon Finance seeks to play that role. Some of its solutions include:
The project’s native token, FREEMOON, should ensure stability and constant value surge. For instance, the protocol’s entire liquidity pool is locked for no less than 4 years.
While it is still in its early days, Freemoon has already successfully passed audit certification from Solidity Finance. The audit report shows that the protocol does not present flaws, leaks, or code errors.
The project plans to purchase its tokens from exchanges and burn them to comply with the protocol’s deflationary purpose.
The Freemoon Swap feature enables users to transfer cryptocurrencies between two blockchains, Binance and Ethereum. This way, they don’t have to own multiple crypto wallets just to store and exchange different digital assets.
Lastly, Freemoon users can use Swap to add liquidity to Freemoon pools and store different pairs on the two blockchains.
A Community-Driven Ecosystem
Freemoon keeps all its assets locked and allocated, and users drive its growing community. In return, they receive 5% in rewards from every transaction on the protocol. The protocol automatically distributes this among all token holders. Therefore, they can earn money simply by holding tokens in their wallets.
Simultaneously, from every crypto transfer, 5% goes to the liquidity pool. Lastly, if the users’ wallets support two different blockchains, they can swap between them hassle-free.
Freemoon Finance Apps & Features
To support all these solutions, Freemoon comes with an extensive suite of applications and features. Some of them are still in the development stage. However, once they will all be up and running, they should look something like this:
This user-friendly feature from Freemoon enables users to exchange fiat currencies for crypto-assets and vice-versa. Furthermore, they can transfer money between accounts, bank cards, and crypto wallets.
The Freemoon DEX users benefit from a quick registration process that makes crypto swaps hassle-free. Soon, the protocol will integrate this feature with other exchanges, making the process even more convenient.
Thanks to Freemoon’s automatic distribution system, 5% of profits from each transaction go to the liquidity pool. This mechanism guarantees a consistent value increase for the protocol’s coin. Also, the development of its DEX enables users to trade with pairs of the protocol’s coins.
Once it releases the DEX, Freemoon will redeem its tokens on the exchange at market price and burn them. This way, it will reduce the total amount of tokens while increasing their cost.
This feature enables users to swap tokens between two different blockchains. Also, it allows them to stake their tokens separately on each blockchain. This way, they can increase their passive income by earning interest from both chains.
SWAP is a non-custodial crypto exchanger. It helps users swap crypto assets without using fiat currencies. Furthermore, it enables them to exchange between BTC, ETH, BCH, BNB, and more, without leaving the blockchain. Lastly, they can engage in multi-swaps without relinquishing control of their private keys.
Freemoon Trading Bot AI
This feature will enable users to use a high-performance trading bot on the Freemoon DEX. Furthermore, the developers will design the bot to ensure crypto trades with minimal risks and guaranteed profits. This way, users are unlikely to lose their funds even if they lack experience in crypto trading.
The bot’s design uses an algorithm that specialists and leading professional traders developed specifically for Freemoon. Above all, the feature will enable users to see their income increase through automatic trades that occur 24/7.
Freemoon Finance will mint 1 quadrillion FREEMOON coins but burn 50% of them during the swap. Then, 45% of the remaining tokens will go to the SWAP feature. Lastly, the rest of the tokens will go to airdrops and bonuses.
The protocol reserves the right to assign taxes on transactions. These taxes are necessary to list the coins on the exchange. Along with the coins, Freemoon will also provide the equivalent amount in USDT.
The Freemoon Finance ecosystem will redeem 20% of its coins on exchanges and burn them. This way, the price of FREEMOON tokens will increase as its circulating supply drops.
At the time of writing, Freemoon was a relatively young protocol. It launched in late 2021, but it proposes an extensive roadmap for the rest of the year. Here is a brief presentation of it:
2021 – Q1
- Create a website and social media profiles.
- Develop a smart contract for FREEMOON.
- Upload Binance Smart Chain and Ethereum.
2021 – Q2
- Listing on PancakeSwap
- A pre-sale period of 5 weeks for FREEMOON
- LP-Lock for 4 years
- Obtain audit for the smart contract.
- Burn 50% of the tokens subject to pre-sale.
- Listings on CoinGecko, Coinmarketcap, and Uniswap
- Release of several features, including Swap, Exchange, and Trading Bot AI.
- Partnerships with BitMart, Gate.IO, HotBot, and ZBG, among others
Freemoon Finance and its deflationary token aim to restore the investors’ trust in decentralized finance. In this regard, it comes with innovative solutions and cross-blockchain transfers. Furthermore, it proposes a 4-year lock on LP, convincing several crypto enthusiasts to give it a try.
At the moment, Freemoon is making its first steps in DeFi. We will follow its progress and see if it reaches its goals and reduce the harmful effects of HYIP scams.
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