Venom

<p><a href="https://venomcrypto.io/" rel="noopener noreferrer nofollow">Venom</a> is a defi driven community token that maximizes yields with appealing meme elements. The project launched on Uniswap, 17 May 23, and listed on <a href="https://coinmarketcap.com/currencies/venom-vnm/" rel="noopener noreferrer nofollow">CoinMarketCap</a>, 18 May 23. Venom entails a variety of interesting features that will be reviewed below.</p><react-video url="https://youtu.be/ImG4M5ezdiA"></react-video><p></p><h2 id="header-0">Token Allocation and Distribution</h2><p>Proper token distribution is critical to the long-term success of a project. The starting market cap, liquidity provisioning, and pricing all force hard decisions on the token distribution in relation to the various stakeholders of the project.</p><p>There are two aspects that are important: Token Allocation and Token Distribution. That is, the proportions between all the stakeholders and how those tokens are given to them. To ensure <a href="https://coinmarketcap.com/currencies/venom-vnm/" rel="noopener noreferrer nofollow">$VNM</a> is an attractive opportunity to buy, hold or stake the tokens, the allocation is:</p><ul><li>35% Public Sale (vested)</li><li>20% Private Sale (vested)</li><li>16% Liquidity (locked)</li><li>12.5% Core Team (vested)</li><li>11.5% Staking Pool</li><li>5% Marketing (vested)</li></ul><p>The distribution of the tokens is further managed for four groups in this allocation: Core Team, Marketing, Private and Public Sale stakeholders. The vesting schedules starting at the Token Generation Event (TGE) are as follows:</p><ul><li>Core Team: 100% vested at TGE with 1-month cliff and 11-month vesting (9.09% / month)</li><li>Marketing: 100% vested at TGE with 1-month cliff and 0-month vesting</li><li>Private Sale: 100% vested at TGE with 0-month cliff and 5-month vesting (20% / month)</li><li>Public Sale: 100% vested at TGE with 0-month cliff and 5-month vesting (20% / month)</li></ul><p>At launch, at least 77.5% of supply will be locked. The Liquidity Pool was also <a href="https://gempad.app/presale-liquidity-lock-detail/0x04411209D86e742Ec3e94af868Cb050EdB594d37?chainId&#61;1" rel="noopener noreferrer nofollow">locked </a>at TGE.</p><h2 id="header-1">Gempad Vetted</h2><p>Gempad thoroughly vetted the Venom Team and issued a <a href="https://github.com/TheGemPad/GemPadOfficial/blob/main/VETTED/Venom_Vetting_Report.pdf" rel="noopener noreferrer nofollow">report of their findings</a> on 6 May 2023. The report included details on the following categories:</p><ul><li>Project Details</li><li>Utility</li><li>Contract</li><li>Pairs and Liquidity</li><li>Wallets</li><li>Tokenomics</li><li>Wallet Locks</li><li>Raise Details</li><li>Launch Details</li><li>Team Members</li><li>Community</li><li>Marketing Plan</li><li>Overall Project Assessment</li></ul><p>The purpose of the report was to create a public document of facts available online, from the Venom team with counter-checks and verifications. While the document should never be interpreted as financial advise in any shape or form, it does help facilitate potential holders of the token to do their own research. The project qualified for the highest level of Gempad support as a Diamond-level listing.</p><h2 id="header-2">Assure Defi KYC</h2><p>The three core team members have been KYC&#39;d by <a href="https://assuredefi.com/projects/venom/" rel="noopener noreferrer nofollow">Assure DeFi™</a>, which is the verification gold standard in the crypto industry. Assure DeFi™ empowers investors and collectors with an unmatched accountability chain and active recourse support. A US registered LLC, Assure DeFi™ serves to reduce fraud and provide credibility to legitimate innovators, with a broad vision of creating a more investable blockchain.</p><h2 id="header-3">Smart Contract Audits by InterFi</h2><p>InterFi Network was involved in the auditing process early in the development cycle, which allowed the Venom team to make additional improvement to the solidity code prior to deployment. Both the token smart contract and the staking pool smart contract are <a href="https://github.com/interfinetwork/project-delivery-data/tree/main/Venom" rel="noopener noreferrer nofollow">audited</a>.</p><p>All Major and Minor factors were resolved with the use of Safe. Safe is a highly trusted decentralized custody protocol and collective asset management platform. The Safes are configured to enforce 2 of 3 signatures prior to smart contract execution as well as management of project treaturies. In addition, every Safe has been labeled by the Etherscan team and annotated as 2 of 3 Safes.</p><p>The <a href="https://wp.venomcrypto.io/security/safe-multi-signature-protections" rel="noopener noreferrer nofollow">Venom Whitepaper</a> has links to each of the Safes as a result of the audits and the solidity code improvements can be found in their audit reports.</p><h2 id="header-4">Blockchain Tracking by Bubblemaps</h2><p>Bubblemaps is the first supply auditing tool for DeFi tokens and NFTs. Their unique and colorful bubbles make on-chain data easy to understand. With Bubblemaps, you can investigate wallets, reveal connections, and see through the noise of blockchain data.</p><p>Venom is listed with <a href="https://app.bubblemaps.io/" rel="noopener noreferrer nofollow">Bubblemaps </a>to ensure full transparency of blockchain transactions of the top 150 wallets holding Venom. This feature serves as a deterrent to prevent fraud and abuse by the top token holders in the project.</p><p>Follow this link to <a href="https://app.bubblemaps.io/eth/token/0x804ea14b08dec488e5b0bc408f23eef107fe3717" rel="noopener noreferrer nofollow">Bubblemaps </a>to explore the top 150 wallets holding Venom tokens.</p><h2 id="header-5">Tokenomics &amp; Reward System</h2><h3 id="buy-and-sell-taxes">Buy and Sell Taxes</h3><p>The buy (6%) and sell (6%) taxes for the project are based on:</p><ul><li>2% True Burn</li><li>2% Marketing</li><li>2% Ethereum Reflections</li></ul><p>In addition, there is a small 1% transfer tax.</p><h3 id="rewards">Rewards</h3><p>Venom uses a dividend tracker reward system. On deployment the contract deployed another contract termed the “dividend tracker” which possesses its own token just as the main contract does. This dividend tracker contract address can be added to your wallet just like the token address if you wish to know how many of these tracker tokens you have. Tracker tokens by default are minted or burned according to your actual venom token transactions, you will be minted tokens when you buy VNM and they will burn when you sell it, you will see this happening in those transactions on chain. In addition, the rewards system will pay out on a queued basis.</p><p>There will be a DAPP for tracking everything related to rewards, so you don’t have to learn the ins and outs of the contracts. The dividend tracker reward system is presently set to reward Ethereum to holders of Venom.</p><h3 id="multipliers">Multipliers</h3><p>Multipliers are built on top of the rewards system described above. Simply put Venom adjusts the dividend tracker for those who hold their tokens for periods of 7, 14 and 21 days to equal 3x, 5x and 7x the amount of <a href="https://coinmarketcap.com/currencies/venom-vnm/" rel="noopener noreferrer nofollow">VNM </a>you have. This will become the balance of your tracker tokens. Tracker tokens define your share of the rewards pool. Holders will update their multiplier in the DAPP after 7, 14 and 21 days via a function in the contract. The moment the holder sells a single token or transfers tokens from the wallet to another this benefit will be gone and the timers will reset, meaning the holder will need to wait again.</p><h3 id="tax-incentives">Tax Incentives</h3><p>Venom values people that know how to hold the token and of course they wanted to create a benefit for those who met these criteria via the gamification of the tokenomics. Those who hold 50,000,000 amount of tokens for at least 24 hours <em><strong>will not pay tax on ANY additional buy they make</strong></em> until they either sell tokens or transfer tokens to another wallet, at which point this benefit is lost. Additionally, a new buy transaction will be required to start the timer over and gain the benefit back, but as long as a holder doesn&#39;t sell, the buys will not be taxed if holding the minimum balance for this incentive.</p><h3 id="holder-protection">Holder Protection</h3><p>Similar to above in the opposite fashion, holders can be further benefited in the form of disincentives to those who choose to sell large amounts of Venom quickly. The contract has a check on the amount of tokens being sold in one transaction, if the amount is greater than 0.05% of the supply (can be changed as prices fluctuate) an additional 6% Venom tax will be applied, this tax will be added directly to rewards tax and paid out to the dividend tracker which rewards holders as described above.</p><h3 id="venom-39-s-antidote">Venom&#39;s Antidote</h3><p>The fun concept behind Venom is that they purify the Venom and send clean Ethereum. With Venom&#39;s Antidote, which gets stronger the longer one holds Venom, the more Ethereum one receives as a reward.</p><h3 id="true-burn">True Burn</h3><p>Traditional burn events send tokens to the null or a dead address but will not reflect that in the actual token supply on chain, this is not the case here. Every transaction has a burn tax that will not only send tokens to the dead wallet, which can never be recovered, but will also update the balance of total supply of the token itself on chain. This is the master source of information that impacts the DEX price directly. This approach is EXTREMELY important because burn has no actual benefit to holders if the total supply does not reduce to match the number of tokens burned, quite simply because of math. The token is hyper-deflationary in its truest form as a result.</p><p>To learn more about the project, join the community via the following socials:</p><h2 id="header-6">Contact Information</h2><p><a href="https://venomcrypto.io/" rel="noopener noreferrer nofollow">Venom Website</a></p><p><a href="https://twitter.com/VenomCryptoVNM" rel="noopener noreferrer nofollow">Venom Twitter</a></p><p><a href="https://t.me/VenomVNM" rel="noopener noreferrer nofollow">Venom Telegram</a></p><p><a href="https://www.youtube.com/&#64;VenomCrypto" rel="noopener noreferrer nofollow">Venom YouTube</a></p><p><em>Disclaimer: Nothing that is being said should be considered as financial advice. Please make sure to do your own research or consult with a financial advisor before making any financial decisions. You can visit the above contact information to do your own research, ask questions, and learn more before making a decision.</em></p>

Venom Crypto Lists on CMC: Project Overview

Table of Contents

VENOM

Other articles published on May 22, 2023

Bitcoin Price Analysis: 26523 Technical Support - 23 May 2023

3 Top Decentralized Exchanges on Kadena

Weekly Roundup

Malaysian Regulator Orders Huobi to Halt its ‘Illegal’ Operations in the Country (Report)

Unleashing the AI-Crypto Revolution: Pioneering a New Era of Intelligent Digital Assets…But What ...

Bitcoin Pizza Day: The Mouthwatering Legacy of a $600M Meal

Join our free newsletter for daily crypto updates!