Meme coins have earned the disturbing reputation of being potential rug pulls. This comes on the back of the “baseless” rise in the value of these coins that lack utility. Due to the above-stated features, meme coins rely heavily on influencers and the buzz of a token with potential as pedaled by its marketing team.
Contrary to the unwritten rule-of-thumb governing meme coins of being utility-less, Ponyo’s ecosystem has actual built-in utility. The promises made by the team backing the project seem to make a joke of the other over-hundred meme coins. Sort of like that is the underlying pun/joke. When, in fact, the Ponyo project takes the cue of environmental preservation from a 2008 anime of the same name.
Ponyo Inu intends to raise the bar of expectations for meme coins going forward. But how do they plan on doing just that? Well, let’s take a look at the ecosystem.
Ponyo Inu’s Ecosystem
Ponyo Inu’s atypical meme coin ecosystem features auto-impact investing, use cases, Play-to-Earn (P2E) games, and DAO (Decentralized Autonomous Organization) voting.
The Ponyo Inu’s strive for difference and immediate impact made philanthropic and charitable gestures at the center of its utilitarian model. For starters, 3% of all transactions made on the platform are donated to the Coral Restoration Foundation. Another 5% will go to marketing to spread the word. This will, in turn, contribute to the impact it seeks to create as more investors come on board.
Ponyo Inu gamified the concept of saving the seas in the soon-to-be-released P2E game called Swim Swim. Players of the game will accrue the platform’s secondary token, $PEARL, by gathering sea gems and some other game activities not yet specified.
Loyal users and holders of Ponyo’s native and primary token, $PONYO, will be rewarded depending on the amount they already hold. One percent of every single trade on the platform is shared amongst holders. The reward-sharing formula will be based on investors’ token volume, encouraging loyal users to buy more PONYO. This tactic is aimed to solidify users’ loyalty and ensure investment increase.
Decentralized Autonomous Organization
Ponyo Inu shares that it will gradually cede power to the community as the platform develops. The DAO will be responsible for the upvote of decisions that will prove pivotal to the organization’s future at the later stages. Giving power to the community ensures they have control over the causes they want to be funded, the economic and business model of the platform, development of new use cases, etcetera.
$PONYO, $PEARL, and Staking
PONYO is the central token of the ecosystem that will be used in most transactions within the platform. The supply limit is capped at a billion, with a portion of the token burned when transacted with. As a result, the unit valuation of PONYO might soar, mainly as it employs scarcity, speculation, and charitable gestures.
Holders of the token can decide to stake or fund PEARL liquidity pools. LPs for PEARL liquidity pool will receive PEARLs depending on their stake. As the secondary token of Ponyo Inu, PEARL will be used to access the new P2E game, Swim Swim.
On a Final Note
Meme coins have always provoked mixed reactions from crypto enthusiasts. On the one hand, it arouses their money-making antenna as two of these coins have found their way into the top 15 cryptos by market cap. On the other, it arouses their suspicion of them being a potential rug pull because they rely solely on-trend for valuation.
For this reason, the Ponyo ushers everyone into the new dispensation with its utility and value-based model. A cryptocurrency built on the Ethereum chain that is deflationary, charitable, and speculatory. What a time to be alive!
Source link: https://coincodex.com/article/12918/ponyo-wants-to-be-more-than-just-a-meme-coin/