The DeFi industry is growing rapidly as blockchain technology becomes increasingly mainstream. Several startups and companies are improving the infrastructure and developing new applications to make it easier for people to use. Their goal is to create a more decentralized financial system that is fairer and more accessible to everyone.
With the goal of making DeFi and cryptocurrency technology more accessible and easier to use, many startups and coalitions are turning their gaze away from typical buyers within the crypto community and looking to bring new buyers into the space.
During this review we will take a look at POODL, one of the most ambitious projects in the space with several ideas that could potentially change DeFi forever. For a project with a surprisingly small team, we found that POODL has more utility and use-case than many projects ten times its size!
What Is POODL?
POODL was created in the spring of 2021 during the dog memecoin frenzy. Although it started as an ERC-20 token on the Ethereum blockchain, it very shortly after launch transitioned to BEP-20, where it has lived since May 2021. Since then, the token has branched out into NFTs, retail use, and gaming with the goal of creating its own metaverse ecosystem dubbed “the POODL-verse.”
As is typical with many cryptocurrencies on the Binance Smart Chain (BSC), POODL employs deflationary economics built into each buy, sell, and transfer. The theory behind this is known as scarcity, the idea that an item or currency’s value should increase over time as it becomes less easily available. POODL accomplishes this through a mechanism called “token burn,” which we will discuss later in this article.
An example of a POODL Player NFT
The most recent large development from the team is the release of 2000 randomly generated 2D Non-Fungible Tokens (NFTs) referred to as “POODL Players.” These NFTs feature unique artwork of the eponymous POODL mascot with different outfits and props in different environments. These NFTs cost only .25 BNB to mint, and give rewards to the holder based on certain values of the NFT. The team has commented that these NFTs will be utilized in other areas of the project in the future.
The crown-jewel of POODL is the impressive marriage of NFTs and augmented reality (AR) technology to create a very interesting and unique user experience. Upon purchase, a user will have access to a unique link that they can open with their AR-compatible smartphone, resulting in being able to view your NFT in the world around you!
If someone wants to experience this impressive technology for themselves, you can experience seeing what it’s like to have one of these 3D NFTs in the world around you at the following website on your AR-compatible smartphone:
In addition, these 3D NFTs are rigged for gaming, with many already usable in metaverses such as LakeView Meta as player avatars. Not only that, but they also give the buyer a certain percentage of POODL in rewards based on trade volume. We expect to see these sell out quickly, with the promise of many more interesting implementations of this unique NFT technology in the future!
The project’s 3D NFT collection is already live on OpenSea.
POODL in the Crypto Security Sphere
Security has always been and will remain one of POODL’s most important areas of focus. The team was among the first in the crypto space to get a verified blue checkmark on Twitter, Telegram, OpenSea, and other internet platforms. This is done to help limit the ability of scammers and impersonators to take advantage of potential would-be victims.
The original POODL smart contract audit by Solidity Finance gave the project a security certification that’s publicly posted so that anyone can verify. Since then, POODL has been re-assessed by S3EK token and holds the honor of being one of the first tokens approved by their team. The POODL developers are doxxed and KYC’d through S3EK, an extra step only taken by a select few tokens that ensures the team can be held accountable for the project.
In addition, the team decided to lock the POODL/wBNB pool for five years on Unicrypt. This makes the token impossible to rugpull and guarantees that the token will always be available to trade on various decentralized exchanges (DEX) like PancakeSwap in addition to centralized exchanges (CEX) like HotBit. More importantly, it signifies that the team is in it for the long haul. With over a years-worth of history behind them, POODL has many more years of continuous development to look forward to.
As mentioned earlier in this article, many crypto projects utilize special properties for their transactions. For POODL, this is utilized as a mechanism to simultaneously reward long-time holders and provide additional funding to the project. However, what’s unique to POODL is that the holders of the tokens vote on how to allocate these funds. If a majority of the community decide something should be changed, it’s brought up for discussion and thrown to a poll where each community member gets one vote per POODL token they own at the time the poll goes live.
The POODL token uses a 6% transaction tax on buys, sells, and transfers:
- Token redistribution: 2%
- Marketing operations: 2%
- Deflationary mechanism (token burning): 1%
- Charity donations: 0.5%
- Liquidity system: 0.5%
The overall supply of this token was 100 trillion tokens at launch, but 20 trillion tokens have been burned in the year since then.
The Project’s Future
Sharing a roadmap with the community is essential when launching a crypto project. This choice will help keep everyone up to date on what is happening with the project. Moreover, the community will know what to expect in the future. It will also help build trust between the team and the community.
NFTs, Partnerships, & Gaming
Ongoing efforts to further develop POODL’s NFT and gaming metaverse are expected to continue for the foreseeable future. Metaverses where POODL is already present are also developing with rapid speed. Outside of gaming, POODL will continue to develop partnerships with reputable tokens to form a safe haven for investors where they don’t need to worry about scams.
“POODL for Business”
The latest update from the team is that this summer is going to be focused on “POODL for Business.” POODL can already be used for retail payments at select stores, but although details are currently scarce it is expected to launch very soon.
Marketing and Charity
Since the project launched, charity has been an integral part of POODL. Specifically, the team donates approximately $1,500 per month to “Canines for Disabled Kids.” In the future, it is possible additional charities will be added.
Anyone who has read this far in the article should realize that POODL has more to offer than nearly any other token of its size. On top of being safe and reliable, the team is innovative and constantly coming up with new ideas and directions for the project. We’re sure it won’t be long until this puppy is barking loud enough for everyone to hear it!