🆙 POOP

POOP is the core token of the Poop protocol.

Token Details

• Name: Poop

• Ticker: POOP

• Decimals: 18

• Total supply: elastic supply

• Contract: 0x00000065cBADeAD116136940b302F938284f2BDc

POOP has no pre-sale and no investor.

Up-Only Mechanism

POOP adopts an over-collateralized elastic supply mechanism, which guarantees the price of POOP/L1 Coin goes Up-Only.

The mint and burn of POOP are supported by the deposits and withdrawals of the L1 Coin Backing Vault. Each time a POOP is minted or burned, a small-portion tax will be charged and collected by the Backing Vault. This ensures that the reserved L1 Coin in the Backing Vault will always increase at a greater rate than the total supply of POOP.

The Backing Vault is a smart contract (not a wallet address) and nobody can ever manipulate the L1 Coins in it. Code is the law.

Here's an example:

POOP on BNB Chain adopts a 10% tax (60% of which is used for over-collateralization)

Mint POOP

When a user pays 1 BNB to mint POOP

• 0.9 BNB for mint, of which 100% goes into the Backing Vault

• 0.1 BNB for tax, of which 60% goes into the Backing Vault, 40% goes into the development fund

This results in

• Contract mints 0.9 BNB worth of POOP,

• Backing Vault adds 0.96 BNB collateral,

• Value of BNB reserved (0.96 BNB) > value of POOP minted (0.9 BNB),

• The price of POOP/BNB goes up.

Burn POOP

When a user burns POOP worth 1 BNB

• 0.9 BNB for repayment, of which 100% goes into the user’s wallet

• 0.1 BNB for tax, of which 60% goes into Backing Vault reservation, 40% goes into the development fund

This results in

• Contract burns 1 BNB worth of POOP,

• Backing Vault reduces 0.94 BNB collateral,

• Value of BNB reserved (-0.94 BNB) > value of POOP minted (-1 BNB),

• The price of POOP/BNB goes up.

Conclusion: Every transaction of mint and burn will make the price of POOP/BNB goes up, and it will go up only.

You can also trade POOP without taxes on DEXs.

Chain	DEX
BNB Chain	PancakeSwap