April 19, 2024
Pandoshi Presale Success and Wallet Beta Release Milestone
Altcoins News

Pandoshi: Presale Success and Wallet Beta Release Milestone

The recently launched cryptocurrency project, Pandoshi, initiated its presale phase in early January and is now close to completing it, having attracted over 8,000 token holders under the ticker “PAMBO”. The current presale stands at 50% completion, with plans for the token to be listed on both centralized and decentralized exchanges thereafter. This rapid progress is attributed to the heightened investor interest, drawn by the project’s introduction of innovative concepts and the early delivery of one of its features ahead of schedule.

Despite initial perceptions as a meme coin, Pandoshi (PAMBO) represents a comprehensive ecosystem dedicated to blockchain’s core principles. It integrates various products, including a Layer 2 with a Proof-of-Stake (PoS) protocol, a multi-chain decentralized exchange (DEX), a non-custodial wallet, KYC-free reloadable prepaid crypto cards, educational programs, community-distributed NFTs, engaging Metaverse games, and more outlined in the project’s whitepaper.

PAMBO, the native coin, has a total supply of 2 billion tokens, with only 1 billion in circulation. It benefits from a deflationary mechanism via a buy-and-burn process, where revenues from Pandoshi’s products are used to buy PAMBO tokens at market price, subsequently removing them from circulation permanently. This process continues until 80% of the circulating tokens are burned.

Despite being inherently deflationary, PAMBO offers staking opportunities, rewarding users with a secondary governance token called BAMBOO, without adding new coins to the market. This collateral staking system incentivizes users to hold PAMBO while maintaining its value.

The PAMBO token sale is divided into five phases, with the final phase currently offering tokens at $0.01 each, of which 50% have already been sold.

Pandoshi achieved a milestone with the beta release of the Pandoshi Wallet on the Google Play Store, as announced on their Twitter. This development, alongside the ongoing presale, signifies a significant step forward for the project, showcasing compatibility with Ethereum Virtual Machine (EVM) compatible chains and plans for connections with non-EVM chains in the future. Additionally, the team is working on an iOS version of the wallet to enhance accessibility.

Image by Pandoshi

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