This is more of the same PulseChain nonsense. You can see this by reading the whitepaper. I couldn't make this up if I tried.
https://proofofnowork.gitbook.io/proof-of-no-work-whitepaper/ponw-token/ponw-token-explained
The primary draw to this project is the idea of getting yield by doing no work. According to the whitepaper, there is a 3% tax on all transactions. That's lame, but whatever...it is what it is.
However, this is the part that really matters...
Of that 3% tax, 2% goes to the holders of PoNW, distributed according to the percent of the total that each wallet owns. The other 1% goes to the "burn wallet." Again, there's that ever-present burn wallet in PulseChain projects.
Here's the kicker...
The burn wallet was funded with 33% of the total supply from day one. Now why in the world would a project do that?
BECAUSE THE BURN WALLET GETS A PERCENTAGE OF THE 2% PORTION OF THE TAX TOO.
Since the burn wallet is the largest holder of the PoNW from day one, most of the 3% tax goes into the burn wallet.
Now say it with me..."who has access to the burn wallet?"
Most buyers will want to get into this project because they think that they are getting money for nothing. So they won't pay attention to what's really going on.
But now that you know, you won't fall for this either. Show Less
