Over the years, the crypto sector has presented several innovations that have disrupted different industries. The decentralized nature of blockchain technology has enabled the development of projects that promote novel solutions in multiple areas.
One such project is Pomeranian. This is a new initiative aiming to create a safe environment for its community by introducing innovative features and technology. This article will provide an overview of the project's main traits and goals and discuss the role of the POMv2 blockchain for the DeFi community.
Introducing Pomeranian and Its Vision
The best way to begin a project analysis is to understand its vision statement. In this sense, Pomeranian claims the intention to "bring back normies into this space, with a safe place to degen."
The meaning of the Pomeranian mission is clear: provide a safe crypto environment for everyone. Users can join the platform without feeling vulnerable, regardless of their knowledge or experience with cryptocurrency and blockchain technology.
In order to achieve this goal, Pomeranian has created a Layer-1 EVM Compatible blockchain. The system introduces features like mandatory locking liquidity malicious code scanner verification of contracts.
Developers can safely lock their smart contracts, and the associated governance token holders are provided authority. The governing body determines when to unlock the contract and reinstate developer control.
Additional goals for the Pomeranian blockchain include:
● ERC20 $POM holders pay zero bridge fees to transfer $POM token to $POMv2 coin at 1:1 ratio
● Validator rewards follow a governance holders redistribution mechanism.
● POMv2 coin staking provides users with passive income and supports the Decentralized Virtual Private Network (DVPN) bandwidth requirements.
POMv2 Network Overview
The core of the Pomeranian project is, without a doubt, the POMv2 network. This is a network built with security, scalability, and decentralization in mind.
The first issue that the POMv2 technology expects to solve is that of MEV and front-running orders. But what exactly are they?
- MEV stands for miner extractable value
- Front-running is a type of trading where an actor can use knowledge of future trades and transactions to profit.
POMv2 will have several mechanisms designed to prevent both MEV and front-running orders. The most important feature will prevent mempool order visibility, restricting an attacker or malicious actor from using the information.
Furthermore, smart contracts will not be able to blacklist any wallet type or address.
The team has also implemented a verification tool that ensures the deployed contract is secure and free from malicious code. Moreover, developers can burn or lock tokens with a custom locker after adding liquidity.
Finally, POMv2 will allow for the renouncing of contracts to regain ownership. The exact implementation details are still under discussion. It is important to mention that the team's social pages share frequent updates on the project for its growing community.
The Pomeranian project has taken great strides toward creating a secure crypto environment for its users. Within this ecosystem, their transactions remain safe from malicious actors.
The team takes pride in its work and is determined to ensure that the network remains secure and resilient.
Tokenomics
The project's native token, $POM, is already available for trading on Uniswap, a popular automated market maker protocol. The total supply of $POM is 100 million, with a 5% tax on both purchase and sale transactions.
The reason why many projects in the crypto world introduce a tax system comes from experience. The 5% tax helps reduce the number of tokens entering and leaving the system, thus stabilizing prices and preventing volatility. In short, it is to prevent whales from manipulating the market.
The project's HPOS consensus mechanism will bring multiple benefits to the project, such as:
- Low transaction costs
- Low transaction latency
- High transaction concurrency with sharding technology.
All transactions on the POMv2 network will be secure and compliant with best practices. As a result, users will be able to carry out transactions on the network with confidence.
Moreover, POMv2 leverages a range of incentives and rewards to encourage users to stake their tokens in the network. These incentives include block rewards, distributed when somebody produces new blocks.
By staking their tokens, users collect for locking their funds in the network and help to secure it.
The Importance of POMv2 Bridges
It is impossible to grasp the Pomeranian concept without spending much time on its POMv2 bridges. These bridges will connect to other Blockchains, making all supported tokens available in the POMv2 network.
In short, this means that there will be a bridge for Pomeranian $POM token holders with absolutely no fees. This strategy will bring a captivating and innovative project to the crypto industry, in its founders’ design.
Bottom Line - The Project's Future and Community Involvement
The Pomeranian project is an ambitious endeavor designed to create a safe crypto environment for its community members. With features such as programmable privacy, obfuscated tokens, and POMv2 bridges, you can see its potential as an innovative project.
The future of this project will depend on the collaboration between developers and users. In such a rich context, it is highly likely that investors will keep an eye on the initiative.
It is important to mention that the team's social pages share frequent updates on the project for its growing community. Stay up to date with Pomeranian's development by visiting the website and joining the social media pages (Twitter/Telegram).