The price of Safemoon (SFM) has surged by 75% in the past 24 hours, reaching $0.0001042 as the token migration to the Solana (SOL) network is in its final stages. Developers have burned significant amounts of SFM tokens and announced a gradual airdrop. One major change in Safemoon is the modification of its governance structure, aiming to transform it into a decentralized autonomous organization (DAO). Despite recent challenges, Safemoon is striving for a fresh start. The project, launched in late 2021, was accused of a billion-dollar scam by Coffeezilla. The US Department of Justice has taken legal actions against former project leaders, with one of them confessing. Safemoon, under new management, plans to migrate to the Solana network. Safemoon announced its migration to Solana two weeks ago to completely overhaul the project’s structure and image. Bitrue exchange has supported this migration and released developer guidance to streamline the process. The new team has also introduced a gradual airdrop that has boosted prices. Safemoon recently announced the creation of an interim advisory council for governance transition. Today, it emphasized that the ultimate goal is to implement social governance based on user voting on the Solana network. Overall, migration to Solana is just part of Safemoon’s changes, with the developer team diligently working on reconstructing the project. If the new structure is properly implemented, the project will be community-controlled, strengthening positive market sentiments towards SFM.
