Shroomy coin overview and tokenomics
Shroomy is a token fair launched on Binance Smart Chain on September 3rd, 2021 without a presale. The team allocations to fund the marketing, website development, contract development, and payment towards artists developing the NFTs was set aside at launch as 5% of the supply. In addition to this a charity wallet equaling 5% of the supply was set aside. This wallet will donate weekly to the psychedelic research and therapy organizations that can be found on our website, discord and telegram.
Shroomy token implements a system where holders are rewarded from holding Shroomy tokens themselves, as 10% of every transaction is taxed. One half of this amount, 5%, will be redistributed to all current holders (including the charity wallet) increasing their total share of Shroomy tokens. The other 5% of this amount is sent to the liquidity pool located on the Pancakeswap decentralized exchange which provides stability to the project because this liquidity pool is essential for the exchange of the tokens.The tokens redistributed to holders is dependent on their total holdings of the token automatically dispersed by the contract at the time of each transaction. This serves the function of rewarding all current holders of the token and decreasing sell pressure, as all holders will accumulate more Shroomy tokens while the total supply of Shroomy tokens decreases as they are sent to the liquidity pool. At launch, the initial LP tokens (liquidity provider tokens) were sent to the Binance Smart Chain burn address 0x000000000000000000000000000000000000dEaD, removing any possibility of the total liquidity pooled being removed from the developer team, while at the same time removing these liquidity tokens from the supply, deflating the supply of the token as time passes. Lastly, the contract was renounced at launch, meaning no additional functions can be added to the contract, and no functions can be called that would pose a threat to the token and token holders.
The charity donates 2.5% of its current value on donation day. The purpose of this is that the charity wallet will grow faster in reflections than the total amount donated, so the charity wallet grows in size over time, while at the same time, as the total market capitalization of the token increases the total dollar value of the donations increase. Shroomy is able to donate to the profoundly life changing field of psychedelic research by capturing a portion of individuals' profit interest, as communities are able to grow and accomplish much more than an individual, much like a fungal network. Shroomy aims to expand in the same vein as Dogecoin or Shiba Inu, which exist solely in the self interest of investors, however Shroomy will provide the real world application of providing more funding and awareness to the rapidly emerging field of psychedelic therapy than any individual on their own could provide.
Shroomy Security Measures
With no extreme pre-sale allocations or whale wallets due to the fair launch on September 3rd 2021, there is minimal chance of market manipulation which could adversely affect the token. Furthermore, Shroomy has an on-going Certik audit to prove no security issues can compromise the token from the end of the developer team, and no bugs could arise that would threaten the health of the project. The token functions autonomously and the charity wallet will donate fixed amounts of it’s supply, therefore the longevity of the token is ensured.
Burned liquidity giving no access to removing LP (commonly referred to as rugpulling): https://bscscan.com/tx/0xf0cb7057c33017621e6263245a5440edb2f1470be815565098a4896d49e1e630
Contract renounced so no additional functions could harm holders: https://bscscan.com/tx/0x7cc69969606fa092184ed2dc13f92617d7a7a88c39077b115de2154ecc6ecdeb
Psychedelic NFTS
In addition to the token launch, Shroomy is launching multiple collections of premium NFTs created by several artists. The first collection was launched on September 7th 2021, 10 NFTs were released with 10 new additional NFTs launched everyday until the final amount of 100 NFTs were reached with a 10% artist commission fee. The objective of this first collection is to raise funds for the marketing of the project's next steps. A second collection of personalized personified Shroom Punks is to be released totaling 100 pieces released in 33 + 1 increments. Once the second Shroom Punks collection is complete the team will release a psychedelic NFT marketplace where users may use their Shroomy to mint their own randomized Shroom Punk with over 400+ assets and 10s of thousands of combinations.
Shroomy App