An Introduction to the Voodoo Ecosystem
Voodoo Token is a meme coin project on Pulsechain that started around one year ago. Our mission and vision are still unchanged: to become the #1 meme coin project on Pulsechain with the most utility. So far, we have built a complete ecosystem consisting of three tokens and surrounded by many DApps.
This overview looks closely at how all the different tokens work and how you can use them within different decentralized applications.
About the Voodoo Token
Launched as the first coin in the project, Voodoo Token stands right in the middle between the MAGIC Reward Token and the POISON Reward Token, acting like a bridge between POISON and MAGIC tokens. People need Voodoo Token to earn MAGIC or POISON for various decentralized applications within the ecosystem.
About the MAGIC Reward Token
MAGIC Reward Token (MAGIC) is built as a deflationary PRC-20 token. It’s different from regular cryptocurrencies because it acts as a deflationary token and burns 2% of the transaction amount. This gives the token more value over time since the supply keeps decreasing. The MAGIC token also serves as a DeFi and utility token. DeFi for people who earn it by staking Voodoo Tokens, and it acts as a utility token within the gambling application.
About the POISON Reward Token
POISON Reward Token is designed to offer holders a passive income opportunity by only holding the token. It leverages the Pulsechain network’s capabilities to provide a secure, transparent, and decentralized ecosystem for token holders. With a total supply of 10 million POISON tokens, the token aims to automatically reward holders while also serving similarly to the MAGIC token as a DeFi and utility token within the Voodoo ecosystem.
Let’s Switch Over to the Different DApps We Have Built So Far
- Staking Platform
Our first developed DApp was the staking platform. It’s an application that consists of six pools with different APY rates and staking length durations. In pools 1, 2, and 3, users have the possibility to earn the MAGIC reward token, and in pools 4, 5, and 6, the POISON reward token is given as a reward.
- Decentralized Gambling Application
Our gambling application is inspired by the classic head or tails game. Users can gamble here with their Voodoo Tokens, MAGIC reward tokens, or POISON reward tokens. It all works by inserting a bet amount. Then you have to choose a multiplier button (x2, x3, x4). The first multiplier (x2) is the standard one, with a 47% chance of winning. When you win, your bet amount is doubled by 100%. The second multiplier (x3) offers a higher payout rate (200%), but the chance of winning is lower, at 25%. The last multiplier (x4) provides the highest payout rate (300%), with a reduced chance of winning at 12.5%. After selecting one of the three multiplier buttons, you can select heads or tails. After that, click on start game, and after confirming the transaction in your wallet, you will know if you made the right bet.
- Faucet
One of the best marketing strategies to increase adoption is to give free samples of your product to other people so they can test out your product and put out a good word. For this reason, we decided to build a decentralized faucet that can give users free Voodoo Tokens, which they can then use on other DApps, such as the staking or gambling application, to experience real-life utility for themselves.
- Voodoo Bank
In contrast to the staking platform where your maximal staking length is only 3 months, the Voodoo Bank is made for people with a long-term mindset. In total, there are 200 safe deposit boxes available to use (a minimum of 50,000 Voodoo Tokens is required). Select a lock-up period that ranges from 1 year, 5 years, and 10 years, and lock your Voodoo Tokens up in the bank! A 1-year lock-up gives x1 reward, 5 years lock-up x2, and 10 years lock-up x3. Once locked up, it is not possible to get your tokens out of the safe deposit box. Another cool factor is that this DApp has real opening hours that are:
- Mon 9:00 AM - 5:00 PM
- Tue 9:00 AM - 5:00 PM
- Wed 9:00 AM - 5:00 PM
- Thu 9:00 AM - 5:00 PM
- Fri 9:00 AM - 5:00 PM
- Sat 9:00 AM - 5:00 PM
- Sun Closed
- Wheel of Fortune
Similar to the faucet, the Wheel of Fortune is made to increase adoption by giving users micro rewards. Everyone can spin once a day on the wheel and get a free prize. This prize consists of an amount of Voodoo Tokens, MAGIC reward tokens, or POISON reward tokens. It’s a fun addition to the Voodoo ecosystem.
Your thoughts
So those are all the things we have built so far, but the development doesn’t stop there! We are constantly working on the project and expect many new products in the near future, including a mobile wallet app that will allow users to send and receive Voodoo Tokens on their phones, as well as offer staking capabilities so that a desktop is not required anymore. We are open for discussion, let your thoughts be known in the comments 
website: www.voodootoken.com