POISON Reward Token is a decentralized cryptocurrency on the Pulsechain blockchain, featuring a unique reward mechanism that sends a fraction (1%) of the transaction amount back to all current holders of the token. This page highlights POISON’s features and its role in the Voodoo ecosystem.
Attention! For a full detailed explanation of the Voodoo ecosystem, we recommend reading the whitepaper.
Introduction
The POISON Reward Token is designed to offer holders a passive income opportunity by only holding the token in your own wallet. It leverages the Pulsechain blockchain’s capabilities to provide secure, transparent, fast, and cheap transactions. With a total supply of 10 million POISON tokens, the token aims to reward all its holders automatically, while also serving as a useful utility token within the Voodoo ecosystem.
Token Details:
• Token Name: POISON Reward Token
• Token Symbol: POISON
• Total Supply: 10,000,000 POISON
• Circulating Supply: 10,000,000 POISON
• Decimals: 9
The token address below is from the POISON Reward Token. Note that it does not refer to your personal wallet address!
0xb8c8761fed2aad5c0a75561bc604531a42c452e6
VoodooGroup
VoodooGroup is an external and decentralized part of the Voodoo ecosystem (Decentralized Autonomous Organization), set up to ensure and analyze the smooth functioning and growth of the project. It uses POISON Reward Token as reserve currency to fund decentralized applications (staking, gambling, etc.). 70% of the supply is reserved for holder distribution, stored through different wallets.
Use Cases
1. Passive Income Generation: Holders of the POISON Reward Token can passively earn rewards through the reflection mechanism implemented in the token’s contract. Through every transaction made with the POISON Reward Token, a 1% fee is distributed to all token holders, providing automatic rewards. To give a real-life example, imagine Person A sending 10,000 POISON Reward Tokens. 1% of 10,000 is 100, so 100 POISON tokens will be distributed among all holders, while Person A receives 9,900 tokens in their destination wallet address.
2. Utility within decentralized applications: The POISON Reward Token can serve as a utility token within various decentralized applications within our ecosystem. For example, holders can use POISON as a gamble token on the gambling application.
Future use cases are:
1. Governance Voting: POISON token holders have the opportunity to vote with their POISON tokens on a decentralized voting application. Each token gives holders a small amount of power. Governance voting will be related to the future development and direction of the ecosystem, such as voting for different influence outreach by VoodooGroup, token burns, airdrops, and other parameters within the Voodoo ecosystem. By voting, holders shape the future of the project.
2. Crypto Farming: By pooling POISON Reward Tokens with, for example, Pulsechain, holders will have the possibility in the future to participate in another DeFi opportunity. So far, it is only possible to earn POISON with Voodoo on the staking platform, but by implementing it as a reward token on a farming platform, POISON gains another DeFi possibility.
POISON Reward Token across different decentralized applications
Staking Platform
The POISON Reward Token serves as a DeFi token on the staking platform, enabling Voodoo stakers to receive rewards in POISON Reward Tokens.
Gambling Application
The POISON Reward Token functions as a utility token on the gambling platform, allowing users to gamble with it.
Tokenomics
Liquidity Pool –30%
Around 30% (3,000,000 tokens) will be used as liquidity across multiple pools. This ensures easy trading and stability in the markets. The aim is a 15% POISON / Pulsechain pool and a 15% POISON / Voodoo pool.
Holders Redistribution –70%
VoodooGroup reserves 70% (7,000,000 tokens) through different wallets to reward DeFi users on the Voodoo staking platform and to make sure there are enough tokens to reward users. (This includes smart contracts of DeFi applications in the future.)
The total supply of the POISON Reward Token starts at 10,000,000 and is, in contrast to the MAGIC Reward Token, fixed.
Future Developments for Poison
Behind the scenes, VoodooGroup is working on a user-friendly crypto wallet called Voodoo Wallet, where you can securely store POISON Reward Tokens on your own phone. Managing your tokens will be easier than ever. This wallet also includes a cross-chain swap, special money requests for users, and storage for NFTs.
Conclusion
POISON Reward Token brings DeFi to another level through a 1% reflection mechanism in the token contract, which automatically rewards holders without the need for staking, farming, or other DeFi-related products. We aim to build a strong community of holders and provide them with rewards and utilities. Since there are always possibilities to expand a project, you can potentially expect more improvements and features to make the token even more useful through newly built decentralized applications or additional token features by developing a V3.
Disclaimer: Due to the inherent flexibility and volatility of cryptocurrency liquidity pools, the percentages and figures presented may not always be accurate or up-to-date. Please be aware that variations in market conditions and liquidity can affect these values.
