DEXs, MinSwap and MuesliSwap, currently have $30 million and $6.5 million worth of liquidity locked in them respectively On Thursday, COTI Network, the issuer of the Cardano-backed stablecoin Djed announced its upcoming listing on major DEXs MinSwap and Muesliswap. COTI also added that Shen, its reserve coin, would be on that listing. MuesliSwap to List DJED and SHEN On Thursday afternoon, COTI retweeted the MuesliSwap announcement that revealed the exchange’s plan to list $Djed and $Shen in the coming…
Pomeranian is a crypto project looking to bring “normies” back to the crypto sector. It promises unique features that the team hopes to set them apart from many other projects.
The project’s roadmap and vision statement illustrate the extensive labor behind making Pomeranian a valuable asset for the community. Let’s look at Pomeranian, review its features, and how it works.
What is Pomeranian, and What Are Its Unique Features?
Pomeranian is a Layer-1 EVM-compatible blockchain built to bring everyday people back into an open, secure crypto space. The project integrates unique features like no mempool snipers, locking liquidity as a mandate, and more user-centric security.
The next subsections will review key features of the Pomeranian project.
How Does Pomeranian Work?
The core of this project is its POMv2 blockchain, which is EVM compatible and designed to facilitate blockchain-based applications. The POMv2 chain allows developers to build various on-chain dapps in a secure environment.
Its developers explained they are inspired by reputable people and projects that have successfully implemented “outside of the box” concepts. The ultimate goal is to produce a protocol that is both secure and efficient.
Here are a few examples of user-centric safety mechanisms that will be implemented:
- Removal of mempool snipers,
- Mandatory contract verification
- Liquidity locks (Minimum: 7 days)
Additionally, developers can lock their contracts in smart contracts and receive rewards for validating blocks. In this scenario, governance holders can vote to unlock the contract and let developers change the code. This strategy aims to safeguard holders and developers if and when the system needs changes.
What Are the Benefits of Using Pomeranian?
To understand the project’s benefits, you should know that the team plans to issue its token. $POMv2, as they labeled it, will represent an on-chain reward for staking and Decentralized Virtual Private Network (DVPN) participation.
By staking their $POMv2 coins, users can earn passive income. Furthermore, those holding $POMv2 coins experience zero fees when bridging different chains.
Staking is a fundamental pillar of Pomeranian’s ecosystem by encouraging user participation to secure the network actively. Cryptocurrency staking has grown in popularity, and the Pomeranian makes it effortless for users.
A Look at the $POM Tokenomics
The currently available ERC20 $POM token has a total supply of 100,000,000 tokens and implements a dual tax system:
- 5% tax on purchases
- 5% tax on sales
The tax system helps reduce market manipulation risk. The project utilizes tax funds for marketing, product development, and community development initiatives. Additional tax funds from $POM token transactions will support POMv2 on-chain liquidity.
It’s important to note that the team has not released any details on token prices or expected returns yet.
The future of Pomeranian
The Pomeranian project is rapidly growing, and $POM tokens are available to buy and store via the Uniswap Exchange. The POMv2 testnet is live, and the POMv2 mainnet should go live by early 2023.
The project’s social media pages will continue to provide the most up-to-date project information regarding development progress, competitions, and much more.
Pomeranian is looking to revolutionize the world of DeFi by providing users with a secure and efficient platform. With its unique features and innovative approach, Pomeranian looks set to become one of the top projects in the space.
Deep Dive Into the POMv2 System
The team has shared several interesting technical features embedded into their POMv2 protocol.
The ability to securely store large amounts of data and historical information on the blockchain is key. This feature enables developers to set up applications not limited by the amount of data stored on the blockchain.
If you are not new to blockchain, you probably know that scaling is a big issue. POMv2 plans to deliver a highly scalable system and reach a very high number of transactions per second (TPS).
The POMv2 blockchain also operates more securely than its predecessors, utilizing an HPOS consensus mechanism. Based on sharding technology, the system will guarantee low transaction cost, low transaction latency, and high transaction concurrency.
Proof of Bandwidth
The project will take important steps toward a more equitable and functional infrastructure for the internet. Users will no longer need to worry about privacy leaks and VPN logs sales. So how does this work? Clients can construct I2P routed circuits by selecting nodes randomly weighted on stake and filtered on secondary criteria (price, location, etc.).
The staking mechanism will work to align incentives against operator malfeasance, and linear stake weighting will neutralize Sybil’s attacks.
The project will also implement a probabilistic payment system that scales to millions of transactions per second. This system will enable a highly liquid bandwidth market without a trusted central party.
In this framework, you will get to see multiple participants in the POB market:
- A user will run the POB client and will start proxy circuit connections.
- Relay nodes will forward encrypted traffic.
- The exit node provides the final connection to an external destination (e.g., a website).
- Bandwidth sellers accept “nano payments” for traffic.
This is a simplified drawing of the POB market and how it works. It allows bandwidth sellers to register their nodes via staking, register custom services, and metadata.
Protection Against MEV Systems
MEV bots are a common issue in the industry, taking advantage of order books to try and front-run orders. With POMv2, the orders are not visible to anyone in the meme pool, and no one can front-run orders.
Furthermore, snipers will not have any way to access the hidden order book due to its covert status. This prevents large whales from coming in at the last second and sniping the entire supply.
Additionally, POMv2 has a built-in mechanism to prevent malicious actors from blacklisting anyone or any address. The team promises its smart contracts are always immutable, secure, and fair for everyone using them.
The POMv2 Network is an ambitious project that hopes to bring new features to the DeFi world. The Pomeranian project aims to become a leading Layer-1 blockchain by providing unique benefits and security.
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