How does the "ShitCoin Recycle Bin" Poop in the DeFi world achieve an upward spiral in the circular economy?

“Poop is building a circular economy that allows holders of 0-liquidity “shitcoins” to cash out their residual value, and this circular economy is also building an upward spiral system that benefits all participants”

The product of the iteration of the encryption industry, "Shitcoin" with 0 liquidity

Web3 marketing is mainly based on block chain technology to achieve direct interaction between brands and users, so as to realize direct interaction and value exchange between brands and users. Brands issue tokens to directly motivate users to participate in marketing activities, which is the most common Web3 marketing techniques. Based on this, users can obtain branded products or services through tokens, realizing seamless cooperation between brands and users.

Marketing based on encrypted tokens can play a good role in attracting newcomers and promoting activation in the early stage. For example, Uniswap, ENS, Aptos, Optimism, Arbitrum One and other top ecology have provided a large number of qualified community users (usually the first to use , users who have contributed to the ecological development), issued valuable token airdrops, and achieved quite good results after the airdrops (users usually actively become sticky users in the community), and in token rewards Driven by the drive, we can see that the vast majority of users in the encryption industry are looking forward to becoming early users of some early ecosystems. In fact, very few people will refuse the "free lunch" that they can get by "moving their fingers".

Of course, the reason why this "simple and rude" airdrop method can continue to work is usually based on a strong community consensus, which can usually hedge against the negative effects of airdrops.

For crypto projects that lack community solidarity (most of them fall into this category), after providing airdrops to users, it is often difficult to hedge the negative effects due to the weak value base, and the tokens plummeted and lost liquidity in the short term after being marketed.

In fact, since 2020, there have been thousands of encrypted projects that have been marketed through token airdrops, but very few tokens with value and good liquidity. This means that the crazy airdrop marketing behavior has produced a large number of "Shitcoins" with almost zero liquidity.

In addition to airdrops, each round of bull-bear alternation and each round of industry hot spots will lead to the death of a large number of encrypted projects and Rug Pull, which also leave a large number of altcoins with zero liquidity. The industry is constantly iterating, and no one seems to remember the glory that the projects represented by these tokens once had.

There may be dozens of the above-mentioned "Shitcoin" assets in the encrypted accounts of almost every "encrypted native", which not only represents their past "records", but also shows the speed of iteration of the encryption industry and the cruelty of competition.

Is there any salvation for these "Shitcoins"?

In the real world, most objects will become less and less useful after a certain number of years. In recent years, with the development of various recyclable technologies and the strengthening of environmental protection awareness in various countries, the recycling system of various items has been continuously improved. Based on this, we can further realize the residual value of these items through recycling, and Contribute to a circular economy.

In the Web3 world, behind every "Shitcoin" may represent the holder's previous efforts or a failed investment, and after these assets are completely reduced to "Shitcoin" with zero liquidity, the holders will Regret is also or expresses powerlessness.

Now, these former "Shitcoins" can also obtain the opportunity to extract residual value through the "recycling bin" just like in the real world. A project called Poop is becoming a "recycling bin" in the DeFi field. It is establishing a series of recycling mechanisms and facilities for these "Shitcoins" to help these assets re-establish liquidity through token recycling, and is becoming a lot of "Web3 The Gospel of the Indigenous Peoples.

Poop: The "recycle bin" of the DeFi world

Poop is becoming an on-chain venue for the recovery of 0 liquid assets. The protocol has established a recovery mechanism with value creation momentum. The protocol allows all "Shitcoins" to be "recycled" through its recovery system and obtain $POOP tokens returns to realize the remaining residual value of these assets.

The Poop recycling system consists of several parts: Shitcoin Recycle, POOP Station, Referral Program

• Shitcoin Recycle

Shitcoin Recycle is the core function of the Poop platform, and this section is the main execution place for "Shitcoin" recycling. In Shitcoin Recycle, like a DEX transaction, we can exchange 0 liquid assets in our hands due to investment failure, airdrop, Rug Pull, etc., with $POOP tokens, and after the exchange is completed, "Shitcoin" holds Someone can sell the $POOP tokens in their hands to get income, and the "Shitcoin" will be burned directly.

On the implementation path, Shitcoin Recycle will handle different paths for "Shitcoins" with different liquidity.

When the liquidity of a "Shitcoin" ≥ the required minimum liquidity, the Shitcoin Recycle protocol will convert "Shitcoin" into Layer 1 tokens (such as ETH, BNB, etc.) Go buy $POOP tokens.

And when the liquidity of a "Shitcoin" < the required minimum liquidity, the user needs to pay the Layer 1 token fee, which is equal to the required minimum liquidity. Shitcoin Recycle then recycles and users get $POOP in return.

• POOP Station

In addition to the Shitcoin Recycle protocol, POOP Station is the place where $POOP tokens are minted and destroyed in the Poop protocol. In POOP Station, users can buy or sell $POOP tokens with Layer 1 tokens through the trading hub. In this process, the deflation and empowerment of $POOP tokens will continue to be generated to help $POOP tokens build a more solid value foundation.

In addition, the Poop protocol agreement also allows $POOP holders to further profit in the form of Staking and LP, and can continue to receive dividends from the deflation mechanism.

• Referral Program

The Poop protocol also establishes an invitation system designed to reward users who help Poop expand the community and share products. When a user recommends another user to use the Poop protocol, 10% of the income generated by the invitee will be owned by the inviter. As an incentive, these rewards will be released in the form of Layer 1 tokens to the inviter's account immediately upon completion of the transaction. Through this direct incentive model, Poop is helping to build a strong community and user base, and bringing in a lot of income for contributors.

The Poop protocol has established a "recycling" system based on $POOP tokens. Of course, in this process, in order to allow $POOP tokens to continue to obtain the ability to capture value to offset the impact of potential selling pressure, It also designed a highly deflationary enabling mechanism to ensure that $POOP can always maintain an upward spiral in its circular economic system, encouraging more $POOP holders to become Holders.

Poop The upward spiral in the circular economy

The Poop protocol has established a rising system for $POOP based on the mortgage flexible supply mechanism, and the asset has no private placements, early giant whale investors, and market makers. It is early started in a fair way to ensure that $POOP can achieve an upward spiral .

*Purchase drives up the value of $POOP

When users use Layer 1 tokens to purchase $POOP tokens through POOP Station, the new tokens will be minted into new $POOP through the Poop Finance contract. During the purchase process, buyers need to pay a certain amount of tax (10%), which will be distributed to the Backing Vault (accounting for 60% of the tax, which is the liquidity reserve pool of $POOP tokens), LP Stakers and contributors.

Although the total supply of $POOP tokens increases, the tax mechanism ensures that the actual amount of $POOP purchased by buyers through Layer 1 tokens becomes smaller.

For example, when the exchange rate of BNB/POOP is 1000, the amount of $POOP obtained by purchasing 1 BNB at POOP Station will be less than 1000, which will further promote the continuous rise in the price of $POOP tokens (the increase in value offsets the impact of inflation). Purchases are also boosting the value store of Layer 1 tokens in POOP Station vaults, which are also on the rise.

• Sell $POOP to speed up burning

When a user sells $POOP for Layer 1 tokens, although the Layer 1 token reserve in POOP Station decreases, the sold $POOP tokens will be destroyed by the Poop Finance contract. At the same time, the sale of $POOP also needs to pay taxes (10%), which will also be distributed to Backing Vault, LP pledgers and contributors to accelerate tightening. The destruction of $POOP will also accelerate the price increase of $POOP tokens.

It can be seen that whether buying or selling $POOP will bring new gains to the rise in the value of $POOP. This means that more and more users will recycle "Shitcoin" through Poop, and the Poop ecology and $POOP will continue to accumulate new value, making every participant a beneficiary. Of course, the upward spiral of $POOP is promoting the long-term holding of more holders in order to continue to profit from the upward spiral system.

The Poop protocol will be launched on BNBChain at 20:00 on June 28 (UTC+8), and will be further deployed to Ehtereum, Arbitrum, Optimism, zySync, Polygon and other ecological systems.

Conclusion

From the perspective of the industry, the vast majority of encrypted players are holders of "Shitcoin", and they will also be potential user groups of the Poop protocol. Especially under the incentive of the Referral Program, it will accelerate the influx of these users into the Poop ecosystem. trend. As more and more users participate in the "recycling" transaction, it will also accelerate the operation of the Poop ecological spiral flywheel, and the value base of this ecology will also continue to be enlarged.