BitMart
The Altruism Protocol (Altrucoin) is a community-driven, frictionless yield-generating token created on the Binance Smart Chain.
The protocol was designed to produce decentralized charitable donations and to provide a safe, appreciating store of value for token holders with strong incentives for long-term investment and a clearly defined use case: trustless defi lending.
Our project combines the established use case of trustless defi lending with the modern tokenomic mechanism of token reflection and a variety of other improvements.
We aim to remove the middlemen (banks) from the lending equation and instead send profits directly to Altrucoin holders and charitable organizations.
5% of every transaction is distributed proportionally to the wallets of all holders of Altrucoin.
Altrucoin implements features such as token burning and locked liquidity pooling, ensuring that the token remains deflationary.
Our smart contract automatically deposits a portion of every transaction into a locked liquidity pool.
A portion of all transactions goes to a dedicated charity wallet. Holders can vote on which charities should receive donations from the charity wallet at vote.altrucoin.io.
Altrucoin was created for decentralized governance from the start. All protocol wallets are controlled via Multisig and our roadmap shows our plan for full decentralization.
The Altruism Protocol's long term use case is to become a decentralized lending platform that rewards users for staking tokens. You can learn more from our live roadmap and whitepaper.
Producing yield generation and creating a sensible investment for our holders.
Creating a secure store of value for all our holders.
Giving to impactful charitable causes in order to change the world for the better.
Ensuring no single entity or group has complete control of the protocol.
Through decentralization Altrucoin will remain community driven, built and controlled.
Transparency from our team in all aspects of the project.
We have learned from our predecessors and aim to improve on their formulas. Our team has identified a number of issues with existing frictionless yield-generation tokens, and has devised solutions for each of them:
Issue #6: Poor Security Controls
Every protocol wallet is controlled via Gnosis Multisig Safe wallet contracts. This greatly reduces the likelihood of a single rogue user being able to attack or steal protocol funds or liquidity.
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