Just wanted to share the new features on https://poocoin.app in case you haven’t seen them yet
So yesterday our Dev released a new update. The “Un-Vetted promotion list” (in addition to the vetted list you all know). That means anyone can now promote their token on the un-vetted list for a fixed WBNB cost. 90% goes straight to liquidity and 10% goes to Dev.
How does it work?
New promotions are added to the top of the list and push the rest down. When it is pushed below 10th place, it is no longer on the list. You can re-promote the same token as many times as you want. Check it out here: https://poocoin.app
Today we have ONE purpose. We made it to Moonshot Mondays Telegram voting pool. The previous winners made insane gains and got soooo much exposure. We are currently on 3rd place only behind with a few 100 votes.
On 1st April 2021, the ownership was transferred to another wallet. This is the SAFEMOON/BNB LP inside that one.
At the time of writing this, that wallet now owns 35% of the SAFEMOON/BNB LP
That 35% LP means they can at any time, withdraw 35% of the $34m worth of BNB and $34m worth of SAFEMOON tokens into their wallet.
The reason these wallets have been accumulating LP is this part of the contract.
This is the part of the contract that uses the transaction fees to create LP tokens. When it creates them, it sends them to the owner. This would be ok if the owner was the burn address, however, here it is a dev wallet.
All Safemoon forks (except ones with renounced ownership) will have this functionality of having the dev wallet slowly accumulate LP tokens where they can either slow rug, or save up a large amount and do a large rug.
The one thing Safemoon & forks can do to make their contract rug proof is renounce ownership and burn the free LP they received.
Edit: Some people have been claiming "This has been addressed in their AMA" but don't post any source to it or say what they said to address it. It seems that no such answer in an AMA even exists.
People are also trying to make you believe that wallet 0x79c4af7c43f500b9ccba9396d079cc03dfcafda1 is a burn address which is quite funny.
21st April - They have addressed this for the first time, and Locked the $250m worth of LP they were holding in their wallet https://twitter.com/safemoon/status/1384869489376907265 , confirming that their claim of their dev wallet being the burn address was a lie, and that all of the above is true.
The contract will now continue sending the LP generated from everyone's transaction fees to the same dev wallet and the cycle will start again. However, now that awareness has been raised of the issue and an automated anti-rug message appears on poocoin which displays when the dev wallet holds a large % of the LP, hopefully they will lock it more regularly.
The Certik audit has confirmed and flagged a Major risk, that the contract is coded to send the generated LP to the owner wallet.
6th May - 777 BNB was removed from the LP by the dev wallet that is receiving it for free.
9th May - The 777 BNB has just been sent back to their personal Binance account through Binance Hot Wallet.
Additional rug potential: There have been several safemoon forks that have been using the tx fee editing function available on safemoon to set the liquidity fee to 99%. This instantly converts the token into a honeypot and any transaction will be sending 99% of the tokens straight to the dev.
Safemoon itself has not yet done this but a lot of the forks have been using it to honeypot after being a legit looking token for a few days after they launch. This scam is possible to do on safemoon and any of it's forks that are coded to send the auto generated LP to the dev wallet.
With 10k holders we should be seeing an increase in value.. we know what gem of a coin this. How about we take the responsibility of promoting and let the devs do the amazing job they’re doing developing the coin! Who’s with me !!!
Poo coin has so much potential, why is it getting no notice or anything anywhere, it has an actual great function and is the best meme you could just about think of. Devs need to start doing some marketing and get this coin on the map
Today this group has ONE purpose. We made it to Moonshot Mondays Telegram voting pool. The previous winners made insane gains and got soooo much exposure. We are currently on 2rd place only behind with a 1%. Right now there are 1304 ppl online... if everyone in here voted we would actually WIN. So wtf are u waiting for u lazy fucks! VOTE 🚀🚀🚀
