New Crypto Project Pandoshi Revolutionizes Crypto with Innovative Staking Mechanism and Deflationary Utility Token
London, United Kingdom, January 3rd, 2024, Chainwire
Launched in November 2023, Pandoshi has started to emerge as an option worth considering in the market. While it might initially seem like just another meme coin, a more detailed look reveals its identity as a utility token with actual value.
At the heart of Pandoshi’s advancements is its native cryptocurrency, PAMBO, which is distinguished by its deflationary characteristics. Essentially, Pandoshi implements a strategy where it periodically purchases and eliminates some of its tokens from the market. This method incrementally reduces the availability of PAMBO, potentially enhancing its value over time, much like how scarcity can increase the worth of a collectible item.
PAMBO is integral to the Pandoshi ecosystem, acting as the primary utility token. It is utilized for a range of activities within the Pandoshi framework, including transactions on PandaChain (Layer 2 Network), in the Metaverse Game, and as a transactional medium at Pandoshi University. PAMBO is also subject to a distinctive buy-and-burn mechanism enforced by PandoshiSwap (DEX) and Cardoshi (prepaid cards). This deflationary approach continues until 80% of the total PAMBO supply is withdrawn from circulation. PAMBO can be acquired either through purchase or by engaging in official Pandoshi initiatives.
Conversely, BAMBOO operates as a secondary token within the Pandoshi ecosystem, chiefly serving as a governance token. It allows community members to partake in the governance and future direction of Pandoshi. Unlike PAMBO, which is a deflationary utility token at its core, BAMBOO adopts an inflationary approach and has no fixed supply cap. BAMBOO is earned through what is known as collateral staking of PAMBO tokens.
The concept of collateral staking introduced by Pandoshi encourages holding the project’s primary token by rewarding holders with a secondary token. This approach safeguards the main asset from inflation, thereby preserving its value.
When individuals stake their PAMBO tokens, they receive Shares proportional to the total PAMBO staked by the entire community. As more PAMBO is staked, an individual’s Share percentage diminishes, promoting a decentralized spread of voting power and influence. The reward per Share is fixed and established in advance. Importantly, any BAMBOO tokens utilized in governance votes are permanently taken out of circulation, emphasizing their exclusive function in governance activities.
It should be emphasized that BAMBOO is exclusively a governance token and its yield performance is not a primary consideration. Nonetheless, there is no restriction on selling BAMBOO at the prevailing market rate.
Pandoshi has released 2 billion PAMBO tokens in total, setting aside half of that amount for the presale phase. The rest are distributed in the following manner: 20% to provide liquidity on decentralized exchanges (DEX), 10% for centralized exchanges (CEX), and 20% for the Bonus scheme.
Presently in its third phase, the presale of Pandoshi lists PAMBO tokens at $0.006 each. As it progresses to the fourth phase, the cost is set to increase to $0.008, eventually reaching $0.01 in the final phase.
Pandoshi recently shared on Twitter that they are progressing ahead of their timeline and are poised to launch the beta version of the Pandoshi Wallet shortly, within their ongoing presale phase.
The soon-to-be-released wallet beta is designed to initially accommodate all EVM (Ethereum Virtual Machine) chains, with intentions to broaden its compatibility to include non-EVM chains in subsequent updates. The wallet will be accessible as an application for both Android and iOS users, thereby improving its reach.
Additionally, Pandoshi intends to distribute its project NFTs at no cost to initial supporters and is setting up a giveaway where ten fortunate entrants will have the opportunity to win part of a $100,000 pot ($10,000 per person). To enter, participants just need to interact with the project’s official social media platforms, such as Twitter, Telegram, and Discord.
Website: https://pandoshi.com/
Whitepaper: https://docs.pandoshi.com/
About Pandoshi
Pandoshi represents a blockchain project inspired by Satoshi Nakamoto’s vision, dedicated to decentralization, privacy, and financial freedom. Operating as a community-driven initiative, this endeavor places power firmly in the hands of its community members.
The mission of Pandoshi is to establish a robust ecosystem of decentralized products, which includes the Network, DEX, Wallet, and other essential components vital to the DeFi landscape. Pandoshi also explores innovative domains such as decentralized Metaverses and educational platforms to enrich the DeFi experience.
Passionate community support underscores the core values of financial privacy and autonomy upheld by Pandoshi. The project ensures that users’ needs and interests are paramount in every product created, delivering economic benefits directly to users without intermediary involvement.
Pandoshi stands as a testament to decentralized finance, privacy, and user empowerment, rather than a fleeting meme coin or an experimental project. The commitment to these principles fuels relentless efforts and underscores the project’s significance.