In a surprising pivot, SafeMoon is preparing to rise from the ashes of its troubled past by launching a new memecoin on the Solana blockchain. The move comes just days after the project burned trillions of SFM tokens, drastically reducing the circulating supply across multiple networks.
From SFM Ashes to SOL Rebirth
SafeMoon, once a darling of the 2021 crypto bull run, has seen its share of challenges. The token’s value plummeted from all-time highs, key executives faced fraud charges, and the project ultimately filed for bankruptcy in late 2023. But now, under new management from VGX Foundation following an acquisition, SafeMoon is attempting a fresh start.
Burning the Past
In a massive token burn event, SafeMoon has eliminated almost the entire SFM supply on Ethereum and Polygon, along with over half the tokens on Binance Smart Chain. By drastically reducing the circulating supply, the project aims to stabilize the token’s value and pave the way for a new beginning.
“We are going to allow the community to swap their tokens so people can get out of their positions,” explained a VGX representative.
Solana Memecoin Swap
The linchpin of SafeMoon’s revival strategy is the launch of a new memecoin on Solana, set to debut on Saturday at 1:00 AM UTC. SFM holders will have the opportunity to exchange their tokens for the new SOL-based coin via the VGX wallet, potentially giving investors a chance to recoup some of their losses.
- Swap Ratio: The exact SFM to SOL memecoin swap ratio has yet to be announced, but is expected to favor SFM holders to incentivize participation.
- Liquidity Goals: By migrating to Solana and engaging the community in a token swap, SafeMoon hopes to boost liquidity and secure exchange listings for the new memecoin.
From Moon to Memecoin
The transition from SafeMoon to a Solana-based memecoin marks a significant shift in the project’s identity. Once touted as a serious DeFi contender with its own blockchain ambitions, SafeMoon is now embracing the memecoin moniker in an attempt to start fresh and capture the attention of a new wave of investors.
While some may view the move as a last-ditch effort to save a sinking ship, others see it as a bold play to leverage Solana’s growing ecosystem and tap into the enduring appeal of memecoins. With the crypto market showing signs of life in 2025, SafeMoon’s timing could prove fortuitous if the new token catches on with the SOL community.
Risks and Rewards
As with any crypto project pivot, SafeMoon’s Solana memecoin launch comes with both risks and potential rewards for investors.
| Risks | Potential Rewards |
| Uncertain swap ratios and new token value | Chance to recover some losses for SFM holders |
| Memecoin volatility and hype-dependence | Exposure to Solana’s growing DeFi ecosystem |
| Reputational baggage from SafeMoon’s past issues | Renewed interest and liquidity for the project |
Ultimately, the success of SafeMoon’s Solana pivot will depend on the project’s ability to distance itself from past controversies, deliver a compelling memecoin experience, and cultivate a vibrant community around the new token. As the crypto world watches, only time will tell if this phoenix can truly rise from the ashes and soar once again.
