SafeMoon's token SFM surged during the Asian session on Wednesday following news that the Web 3 platform is set to rejuvenate its community by distributing new tokens to current holders.

In a recent development, SafeMoon announced its intention to introduce a new meme coin on the Solana blockchain after burning trillions of tokens on Ethereum, Polygon, and Binance Smart Chain.

Under the headline "SFM Soars Amid Safemoon Airdrop and New Token Launch Plans," BeInCrypto covered SafeMoon's shift towards community autonomy and the launch of a Solana-based meme coin for its supporters. The project aims to streamline the token supply in order to enhance its value.

The new distribution method involves a staggered release of tokens to existing holders to prevent immediate sell-offs and support sustainable growth. This announcement led to a remarkable 108% surge in SafeMoon's governance token, SFM.

Addressing concerns raised by a community member named Cosmo regarding the airdrop potentially triggering a sell-off, SafeMoon reassured its holders that the gradual release strategy would lessen the immediate selling pressure. The project highlighted the importance of attracting new investors by making the token available on a platform that is easier to trade and is aligned with meme culture, noting Solana as the venue for this endeavor.

Transitioning from past legal challenges, SafeMoon is now under the community-driven governance of the VGX Foundation. By adopting a community-controlled approach, SafeMoon is focused on fostering an ecosystem driven by meme culture rather than traditional roadmaps or centralized control.

The upcoming token will be accessible through the VGX wallet, contributing liquidity to the ecosystem and revitalizing the community's excitement. Despite the surge in value reflecting renewed faith in the project's future, users are cautioned about potential scams during the transition, with the official contract for the new token yet to be made public.

SafeMoon's decision to launch on Solana is strategic, leveraging the platform's meme-friendly atmosphere to attract new users and invigorate its existing community.