What is PooCoin? Is this Sh*t?

In the ever-evolving landscape of decentralized finance (DeFi), new and often quirky projects emerge, capturing the attention (and sometimes skepticism) of the crypto community. 

PooCoin ($POOCOIN) is one such project that has garnered significant interest, primarily within the Binance Smart Chain (BSC) ecosystem. But what exactly is PooCoin, and is it just another fleeting "shitcoin" or a platform with genuine utility? Let's dive in.

What Makes PooCoin Unique?

PooCoin isn't just a token; it's an evolving application designed to enhance the trading experience on the Binance Smart Chain, particularly for newer and less established tokens. 

Since its initial release, the platform has undergone several updates, introducing a suite of features aimed at providing traders with valuable insights and tools. Here's a breakdown of what makes PooCoin stand out:

Inline Entry Point Visualization

This innovative feature allows users to see the exact price points where they entered a trade directly on the chart. This visual aid simplifies the process of tracking a trade's progress and making informed decisions.

Rug Check Feature

In a space plagued by "rug pulls" (where developers abandon a project after raising funds, leaving investors with worthless tokens), PooCoin's rug check feature offers a crucial layer of due diligence. It helps users assess the integrity and potential risks associated with a token.

Direct Token Swapping

The platform integrates a swapping functionality, enabling users to trade tokens directly within the PooCoin app, streamlining the trading process and potentially saving time.

External Tools Page

PooCoin conveniently curates a collection of other useful tools specifically for the Binance Smart Chain in one easily accessible location. This acts as a central hub for traders seeking additional resources.

Dev Wallet Checker

This feature aims to identify potentially suspicious activities by developers, such as sudden large sales ("rugs"), gradual selling ("slow rugs"), or significant token dumps, providing an extra layer of risk assessment.

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Premium Features for PooCoin Holders

Beyond the core functionalities, PooCoin offers tiered premium features that unlock additional benefits for users who hold a certain value of POOCOIN/BNB liquidity pool tokens:

• Tier 1 (Holding at least $100): Enables users to track the wallets of other traders and disable advertisements within the PooCoin application. This provides insights into the activities of potentially successful traders and a cleaner user experience.
• Tier 2 (Holding at least $300): Unlocks the ability to display your own trades on the chart and access a dedicated wallet transaction tab for detailed tracking of your activity.
• Tier 3 (Holding at least $2000): Grants access to view trending websites and tokens across various timeframes and lists the top 100 most popular tokens, offering valuable insights into market sentiment and emerging trends.

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How Many PooCoin (POOCOIN) Coins Are There in Circulation?

The total supply of POOCOIN is capped at 10 million tokens. Notably, 25% of this supply is held in the deployer wallet. The tokenomics also incorporate a deflationary mechanism: an 8% fee is charged on every transaction, with 4% redistributed to existing holders and 4% burned, permanently removing them from circulation.

Furthermore, a maximum of 100,000 POOCOIN can be traded in a single transaction. This limitation is implemented to foster price stability and contribute to the deflationary nature of the token, aiming for long-term appreciation. 

This burn mechanism is a common strategy employed by various cryptocurrencies, including Ethereum's recent implementation of burning a portion of transaction fees.

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How Is the PooCoin Network Secured?

POOCOIN operates as a BEP-20 token on the Binance Smart Chain (BSC). This means it benefits from the security infrastructure of BSC, which utilizes a proof-of-stake (PoS) consensus mechanism.

In the BSC ecosystem, 21 validators are elected every 24 hours to validate transactions and maintain the blockchain's security. These validators are required to stake a significant amount of BNB coins with Binance to be eligible for this role, incentivizing them to act honestly and secure the network.

When Will PooCoin Trading Begin?

PooCoin was made available for public trading on March 7, 2021, through the decentralized exchange PancakeSwap.

Where Can You Buy PooCoin (POOCOIN)?

Currently, the primary platform to purchase PooCoin (POOCOIN) is PancakeSwap (V2). For individuals new to the world of cryptocurrencies and decentralized exchanges, resources are often available to guide them through the process of setting up a wallet and making their first trades.

Also Read: How to Create Meme Coin? Free and Easy!

FAQ

What is PooCoin ($POOCOIN)?

PooCoin is a BEP-20 token on the Binance Smart Chain that also functions as a platform providing charting tools, trade tracking, rug check features, and other functionalities specifically designed for trading tokens on BSC.

Is PooCoin a "shitcoin"?

While the name might raise eyebrows, PooCoin offers a range of utilities that go beyond a typical "shitcoin." Its features aim to provide traders with valuable tools and insights. However, like all cryptocurrencies, it carries inherent risks, and its long-term success depends on its continued development and adoption.

What makes PooCoin unique?

PooCoin's uniqueness lies in its integrated features like inline entry point visualization, rug check, direct swapping, and premium features for holders, all tailored for the Binance Smart Chain trading environment.