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Penny Coin is a new project that aims to create greater financial well-being globally. The launch of the $PENNY token, currently in the pre-sale phase, will be carefully evaluated by the market.
Our review provides a series of information regarding the main features of Penny Coin. This article has only an informative purpose and aims to provide readers with the essential facts about the project. Remember to always do your own research (DYOR).
About Penny Coin
Penny Coin’s idea is to launch a platform that places its community at the system’s center. In the concept of its founders, the initiative is supposed to bring wealth to people having different demographic profiles.
Penny Coin adopts a token redistribution system within its community. The entire project has a charitable purpose, as it wishes to use a portion of the earnings to help those in need.
The following paragraphs provide the most important information for evaluating this new blockchain initiative.
A few words about the project’s origins
The project team tells, in its whitepaper, the events that led to the creation of Penny Coin. After a series of disappointments from scams in the crypto universe, the team decided to launch their own token.
The goal is to restore confidence in such a promising sector to those who have had similar experiences.
The token’s mission
The $PENNY token was born in the Binance Smart Chain universe. The team claims they have learned a lot from the misconduct of other token creators. Based on this experience, the founders promise a differentiation from these negative examples of the past.
The $PENNY token
The following subsections will illustrate the main feature of the project’s native token.
The overall total supply of the token is equal to 100,000,000,000,000,000,000. Less than a third (30%) of the coins will compose the circulating liquidity in the project’s first year.
The system’s liquidity largely relies on a transaction tax, which we will discuss in the dedicated section.
In terms of token distribution, the team has shared several statistics:
- Listing on new exchanges: 10% of the tokens will go to listing operations on new exchanges. The team expects to list the token on two exchange portals in the first year of the project
- Pre-sale operations: the project has a specific allocation limit on the pre-sale operations, both private (1%) and public (a little less than 10%)
- Pre-sale liquidity: the liquidity collected during the pre-sale event will be divided among liquidity (70%) and marketing operations (30%)
- Burn operations: 35% of the tokens will go to a burn wallet following the token listing on PancakeSwap.
A small part of the total supply (0.01%) will be available for redistribution as referral gifts in the private pre-sale phase. Finally, the team tokens will be blocked for at least one year following the coin launch.
Each transaction will see the application of a 7% tax, which we can break down as follows:
- 2% will go to redistribution operations among token holders
- 2% will go back to the main wallet
- 2% will be shared among owners, the main project’s team, and those working on development and marketing operations
- 1% will fund donations through a charity wallet.
The initiative aims at providing token holders with several perks. First of all, the taxation system we mentioned indicates the presence of a deflationary force in the system. Sending a number of tokens to the main wallet reduces the circulating liquidity.
The coin redistribution mechanism also plays in favor of token holders. The team promises to provide investors with a simple final product on the market. Most importantly, the initiative claims that the token is safe and reliable.
The team shared with the public a roadmap, indicating the main aspects that the project will cover over time. The whole pipeline consists of four stages, as we explain below:
The phase contains the completion of the project’s token launch on the market. The first steps will consist in reaching 500 coin holders and 1,000 members on the official Telegram channel.
By this time, the team expects both holders and Telegram members to double in number. Furthermore, the stage specifically mentions marketing campaigns to let the market know about Penny Coin.
By this time, the listing operations on small exchanges should kick-off. After reaching 5,000 token holders and signing the first partnerships, the team will move toward the non-fungible token (NFT) market.
Entering the NFT industry will evolve into developing and launching an NFT-based game. The team will reach more exchanges and, by this time, the Telegram group should have more than 10,000 members.
Bringing global financial well-being through blockchain is undoubtedly an extremely ambitious target. Penny Coin is entering the market with a series of features and, being an ongoing initiative, and the market will keep an eye on it in the future.
In the meantime, anyone interested in learning about new updates on the project can join Penny Coin’s official website and its community on social media.
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