POISON Reward Token: Your double yield generation token

A Short Introduction to the POISON Reward Token

Launched as the third coin in the Voodoo ecosystem, POISON Reward Token gives decentralized finance another twist! It is changing the traditional idea of earning passive income through staking. Built on the strong Pulsechain blockchain, the POISON reward token contract gives back a small part of transaction fees to all the people that hold the token in their wallet. This article explores the main features, use cases, and tokenomics of POISON Reward Token, highlighting its unique role in the Voodoo ecosystem.

Let’s start with understanding the basics of the POISON Reward Token

It all started with an idea: creating a token that automatically rewards its holders based on the amount they hold. This simple concept came to life after developers worked day and night on it. Essentially, POISON Reward Token was created to provide people with an easy way to earn money with minimal effort. By simply holding the token, users experience the benefits of traditional DeFi (Staking, Farming), but this time without needing to interact with a smart contract. Instead, holding the token is enough to receive dividends. For example user A does a transfer with 50,000 POISON Reward Tokens, This means 500 tokens wil redistributed among all holders directly. Being built on the Pulsechain blockchain provides all holders with extra benefits. Transactions are fast, cheap, and the network is completely decentralized.

Discovering Token Details

Looking into the details, POISON Reward Token uses POISON as the ticker symbol and employs 9 decimals in the contract (this refers to the smallest unit a token can be divided). The total supply is only 10 million POISON Reward tokens. This is almost even the half of Voodoo’s 21 million supply! VoodooGroup (DAO) plans to share the POISON Reward Token supply fairly and help the Voodoo ecosystem grow rapidly.

The heart of the POISON Reward token

Deep within the POISON Reward token code lies the reflect function. This function simply represent the 1% reward mechanism for passive income for holders, a important aspect for the POISON Reward Token

let’s go more technical now:

function reflect(uint256 tAmount) public { address sender = _msgSender(); require(!_isExcluded[sender], “Excluded addresses cannot call this function”); (uint256 rAmount,,,,) = _getValues(tAmount); _rOwned[sender] = _rOwned[sender].sub(rAmount); _rTotal = _rTotal.sub(rAmount); _tFeeTotal = _tFeeTotal.add(tAmount); }

This function is crucial in redistributing rewards to token holders based on their holdings. Here’s how it works:

1. Validation: Ensures that excluded addresses cannot trigger the reflection process, maintaining integrity and fairness in reward distribution.

2. Calculation: Retrieves the reflection amount (rAmount) along with other values necessary for the process.

3. Deduction: Subtracts the reflection amount from the sender’s balance and from the total reflected supply, effectively redistributing a portion of the transaction fees to all token holders.

4. Accumulation: Increases the total fees collected (_tFeeTotal), reflecting the growth of the reward pool available for distribution.

If we had to compare this function to a human organ, it would be the heart! It’s the only function in the code that fosters engagement and incentivizes participation among POISON Reward Token holders. It’s the function that lets them passively earn rewards simply by holding POISON tokens.

Important Features that let POISON Reward Token stand out

Built-in DeFi Feature: POISON Reward Token uses a new form of DeFi, giving all holders a small part (1%) in each transaction. This means people don’t have to do anything to get automatic rewards; they just land directly into their wallets. Another cool feature in the code is the Exclusion Feature: This lets VoodooGroup exclude some wallets (exchange wallets, wallets from smart contracts or wallets controlled by VoodooGroup itself.) This makes it easier to manage the ecosystem and give rewards only to the people who exactly bought the POISON Reward Token or got it as a reward. Thanks to the Pulsechain blockchain, transaction fees are extremely low, making it an attractive coin for traders to trade with. Low transaction fees are not only good for traders but also for people who use the coin in our gambling application. I will discuss this further later.

Earning Money has never been so easy!

People who own and hold POISON Reward Tokens in their own wallets can receive a steady flow of income through the way POISON Reward Token works, where a portion of the transaction fees is redistributed to the holders. This encourages people to hold onto their tokens for longer periods to maximize their returns. But the benefits don’t stop there. POISON (and MAGIC Reward Token) have been selected as the preferred tokens within the Voodoo ecosystem for governance proposals. This means that as a POISON Reward Token holder, you have voting rights and the power to shape the future of the entire ecosystem alongside other voters during a proposal. Additionally, POISON Reward Token has gained real utility within some dApps we have developed, such as the classic gambling game Coinflip. This means you can use your POISON Reward tokens for gambling activities.

POISON Reward Token’s utilities within different dapps

In the Voodoo ecosystem, POISON Reward Token is a token used as a reward token for people that staked Voodoo tokens. This means that you can basically earn free POISON Reward Tokens by locking up some Voodoo tokens for a certain time on the staking platform. We reward you as a thank you for helping keep the network safe. Gambling application: POISON Reward Token is officially used as a utility token within our gambling DApp, This makes gambling with POISON Reward Tokens possible!

Tokenomics

With only a total supply of 10 million tokens, the project sets aside 30% (3 million tokens) as liquidity in different pools and to make sure trading goes smoothly. The other 70% (7 million tokens) is in the hands of VoodooGroup. They need it as a reserve currency to give people rewards on staking activities, or to pay out the people that won on the gambling DApp.

Conclusion: Double yield is double the fun

In the end, holding POISON Reward Tokens gives you only benefits. With the innovative features integrated, utilities, and a strong use case within the Voodoo ecosystem, POISON Reward Token shows its real strength by giving everyone benefits. Even people that trade the coin will give all the other people rewards because they have to pay the 1% fee. As the ecosystem grows, people can expect more features added to the token. Join this new form of DeFi today and start your journey to passive income!

Gamble with your POISON Reward Token here: gamble.voodootoken.com

Already owning Voodoo Tokens? Stake them at https://staking.voodootoken.com/ and earn the Poison Reward Token as passive income!

For more info about the project: Visit www.voodootoken.com