What you need to know about the Poor Doge trading mechanism
In the current token space, many projects are plague by transaction mechanisms issues that are open to exploitation by fraudulent individuals. These can cause major damage to an investor’s confidence in the project.
1. No anti-bot mechanism
Many projects suffer from attacks from ‘sandwich’ robots, which can easily make profits while real investors suffer losses. These bots work by hijacking a large transaction, buying a certain amount of tokens before the investor buy is processed through, then sell those tokens immediately for a profit after the investor transaction. For example:
The user first initiates a normal transaction, buys $X with 237000.705USDC, sets the Gas Price to 40.5Gwei. When the runaway robot detects this profitable transaction, it immediately launches an attack, initiates a buy transaction, and sets The Gas Price to 49.9Gwei, which successfully front runs the user’s normal transaction by virtue of the Gas competition mechanism. At the same time, the robot sends another sell transaction and sets the Gas Price to 40.5Gwei as well. Because of the time sequence, the user’s normal transaction is completed in between the two bot transactions.
A perfect run attack is completed, and the bot will earn a total of 16448.012–16310.3–15.2–10.61 = $111.9, including a normal transaction attack, which is vividly called a sandwich attack.
2. No anti-whale mechanism
DEX is composed of many liquidity pools representing different trading pairs, such as the ETH / WBTC trading pair. These liquidity pools are not like an order book model, matching buyers and sellers, but acting as automatic market makers. Within this ecosystem whale transactions will result in a substantial price rise while buying, and vice versa a substantial sell-off will result in a large decline in prices. This is unfair to ordinary investors that do not have large funds, because they cannot buy at a better price when there is good news, nor can they prevent whales from selling arbitrage and causing floating losses.
3. No reward mechanism
When prices drop sharply, people with no investment experience often choose panic selling. As the panic spreads, more and more investors will sell, which will cause more and more people to suffer losses. A good project is often sold maliciously, causing the price of the token to be much lower than its true value, therefore preventing future investors from purchasing, which in turn causes the project to die slowly.
With the rampant spread of the above issues some developers have created various anti-robot and anti-whale projects, but because these token designs are often complex and unreasonable, developers can use these new trading mechanisms to harvest investors.
Our Poor Doge has formulated the following trading mechanisms in response to some of the above defects, which we believe will protect our investors’ interests.
1. A continuous Usdt income
Hold PoorDoge, you can directly receive Usdt dividends.
Poor people can also receive an income every day during PoorDoge’s growth period. Of course they can also choose to purchase again. At the same time, it can also effectively prevent people from selling PoorDoge through dividends, as a way of gaining from profitable arbitrage. For more details, see the distribution of taxes and fees incurred in the process.
2. The black hole of the rich
We hope to help the poor. We refuse to allow the rich to join and to allow wealth accumulation for financial titans. If the rich insist on buying a large amount of Poor Doge to earn a profit, they must pay exorbitant taxes and must provide financial aid for the poor.
2.1. For each address, if you buy too many PoorDoge in one day, you will have to pay more extra fees.The specific tax tiers are:
Cumulative purchase amount of a single address single day
/ Taxes
0~10000 Usdt 0%
10001~30000 Usdt 8%
30001~100000 Usdt 20%
100001~300000 Usdt 35%
300001 or above 49%
The formula:
Including the amount of this transaction that was purchased (Usdt)=z, buy fee=
IF(z>300000,49%,IF(z>100000,35%,IF(z>30000,20%,IF(z >1000 0,8%,IF(z>0,0%)))))
2.2. Example:
An address purchased 10000 Usdt on the same day, and this order only charges the basic 0% fee = 0 Usdt. The individual then purchases 20000 Usdt again on the same day, so the cumulative purchase order will be 30000 Usdt on that day. Then will be taxed 20000*8%=1600 Usdt.
If he purchases 70000 Usdt on the same day again, the cumulative purchase order will then reach 100000 Usdt on the same day. Then taxed 70000*20%=14000Usdt.
This cumulation continues in one day
2.3. The cumulative purchase amount of each address reset to 0 at 0:00UTC every day.
3. Mutual assistance for the needy
Our initial motivation is to help the less fortunate people who are in need of financial aid. For example, charity relief and operations all require funds to be able to be executed. As majority of our users are poor, only 10% taxes and fees will be charged for selling orders, and these taxes will be used for relief operations induced by wars, diseases, famine. These funds will be transferred to children or any poor individual who needs the help. However, should these emergency funds be robbed by malicious capitalists, then they will pay a painful price. Continue below.
4. A paradise for the poor
We do not want wealthy institutions or organizations to manipulate the market and potentially rob the poor. We wish to only provide wealth accumulation for the poor. We also emphasise on the long-term stability as the primary goal of this project, instead of short-term profits where buyers leave after making profits in a short period of time.
4.1 Take the price per minute of 1440 minutes (within 1 days) combined with the historical benchmark price to obtain the current benchmark price. If the current currency price equals to 120% of the benchmark price, then selling PoorDoge will incur a 20% charges for taxes, and will be used to fund all other poor holders.
4.2 After reaching 120% of the benchmark price, the tax rate will increase by 0.4% every time the current price exceeds the benchmark price by an additional 1%. (For example, when the benchmark price is 125%, the tax rate is 22%). The maximum sales tax rate will not exceed 46%.
The formula:
benchmark price=x, current price=y
x = Benchmark price as of the last minute / launch minutes (highest 1440)*(launch minutes-1)+y/launch minutes (highest 1440)
Selling fee = max(10%,min(46%,if(y>=x*120%,(20%+(y/x120%)*0.4),if(y≤x*90%,(20%+(90%-y/x)*0.8)))))
4.3. Example:
If the current benchmark price is 0.0001 Usdt and if the current currency price is 0.00012 Usdt, then any seller will have to pay 20% taxes. But when the benchmark price gradually approaches 0.00012, then the tax is only 10%.
4.4. The official website refreshes the benchmark price and current price every 1 minute, address: www.poordoge.org
5. The consensus of the poor
When the selling volume is too large, all selling orders will incur additional taxes. In order to protect the interests of the poor, our goal is to punish those wealthy who pretend to be poor, and purchases at this time will receive Usdt rewards.
5.1. Take the price per minute of 1440 minutes (within 1 days) combined with the historical benchmark price to obtain the current benchmark price. If the current currency price equals to 90% of the benchmark price, then selling PoorDoge will incur a 20% charges for taxes, and will be used to fund all other poor holders.
5.2. For every additional 1% that is lower than the base price, the tax rate of additional 0.8% is added (if it is 85% of the base price, the tax rate is 24%), and the tax rate does not exceed 49%.
The formula:
benchmark price=x, current price=y
x = Benchmark price as of the last minute / launch minutes (highest 1440)*(launch minutes-1)+y/launch minutes (highest 1440)
Selling fee =
max(10%,min(46%,if(y>=x*120%,(20%+(y/x120%)*0.4),if(y≤x*90%,(20%+(90%-y/x)*0.8)))))
5.3. At the same time, all buy orders will get USDT will be obtained from the prize pool based on 8% of the order amount. For every additional 1% below the base price, an additional 0.3% USDT will be awarded, the highest 20% .
The formula:
benchmark price=x, current price=y, purchase amount (Usdt)=z
Purchase bonus USDT = min(20%,if(y<=x*90%,8%+(90%-y/x)*0.3))*z
5.4. Example:
If the benchmark price is 0.0001 USDT, and if the current currency price is 0.00008, then a seller will have to pay 28% for taxes. But when the benchmark price gradually approaches 0.0001, then the tax is only 10%.
If you purchased 100 Usdt Poordoge at this time, you will get 100*11%=11 Usdt rewards will be obtained from the prize pool, which will be automatically sent to the buyer’s wallet after the purchase is successful.
5.5. The official website refreshes the benchmark price and current price every 1 minute, address: www.poordoge.org
6. Encouragement of the poor
In order to sustain and strengthen the support for these projects that help the poor, a prize pool will be provided.
6.1. The prize pool is settled by Usdt;
6.2. If no one buys PoorDoge for 4 hours, then the last individual who purchased PoorDoge before the said time will receive half of the Usdt reward in the prize pool (if there is 100,000 Usdt in the prize pool, the winner will get 50,000 Usdt).
6.3. During the countdown period, once an individual purchases PoorDoge, the countdown will restart for 4 hours until the countdown reaches 0. The reward will then belong to the last individual who purchased PoorDoge.
6.4. The reward will be automatically sent to the winner’s wallet.
6.5. If no one can claim the reward, after 120 hours, 1/3 Usdt in the prize pool will be used to buy back Poordoge and burned.
6.6 The official website will count the total amount of the current prize pool, countdown, address: www.poordoge.org
7. Decapitate the shady
In order to prevent wealthier individuals from transferring Poordoge and manipulating market prices, the number of PoorDoge sold at a time will be limited, so as to avoid selling too many PoorDoge based on the same free.
7.1. A single address can sell a maximum of 10,000,000,000 PoorDoge in a single transaction.
To learn more, follow our official website and read our white paper.
Join us and say no to all unfair things! Protect the interests of the poor together!
Join Poor Doge :
Website : https://www.poordoge.org/
Twitter : https://twitter.com/PoorDoge_coin
Telegram : https://t.me/poordoge_coin
Media : https://medium.com/@PoorDoge_coin
