Punkcoin: The Rebel Under The Cryptocurrencies

Published in

DataDrivenInvestor

5 min readJun 22, 2021

Introduction

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

Decentralized Finance

Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Moreover, another main reasons why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want to be, have an old-fashioned culture and mentality. Beyond the typical financial instruments, they have only evolved to provide some online services. Now, with the emergence of DeFi (decentralized finance), a world of financial instruments is opening up, accessible, open and without permissions for anyone with a cell phone or a computer connected to the Internet. It is a movement that takes advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries.

For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

With punk in mind as a rebellious, non-conformist and playful culture, a group of guys have started a new project based on cryptocurrencies within the world of decentralized finance. The project is called Punkcoin (https://www.punkcoin.net/) and has all the bases to have a resemblance to what punk is in society. The idea is that the Punkcoin token, which will be PKC, is basically for individual and/or private investments, unlike the many others such as Bitcoin, which are being adopted by large institutions.

Definition

The Punkcoin (PKC) token is a meme token, which was born to be a rebel token capable of giving war to any other cryptocurrency through individual investments. THE token’s pink and black logo already indicates its intentions to resemble the punk revolution.

Going into a little more detail, Punkcoin is a rebel cryptocurrency that uses Blockchain technology and Ethereum network smart contracts under the ERC-20 protocol. With what gives it a high decentralization and security when investing. As mentioned above, the token will be PKC, and the entire network will be backed by Blockchain technology and can be tracked in Etherscan.

Tokenomics

Token name: Punkcoin
Token symbol: PKC
Network: Ethereum
Token type: ERC-20
Token price (start of ICO): 0.000000000002 ETH
Token price (end of ICO): 0.000000000004 ETH

Bounty program

The project gives the opportunity to earn PKC tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_Punkcoin), where you can access the link in order to see what are the conditions to become an early Punkcoin contributor and start acquiring tokens.

For more information about the project, you can visit and read their WhitePaper available here (Punkcoin_WP). You can also stay tuned in their official Telegram Channel (https://t.me/cryptomatechannel). I hope you liked the post and soon I’ll send you new ones.

ICO phase

The ICO for the Punkcoin token will have a maximum duration of 30 days, within which any user can invest in the project. Note that the price will grow according to the phase and the capital invested so far. As we have seen in the previous section, the final price will be double the price at which the ICO will have started.

It should be said that, until the ICO ends, all tokens will be frozen until it ends, then any user will be able to claim their purchased tokens. If the project did not reach the soft-cap, then the user will receive their initial investment in full.

Roadmap

Conclusion

Punkcoin was born as a rebel project, but at the same time ambitious. It seems to have claws to be able to stand up to the big cryptocurrencies and has very clear ideas. In addition, I think it is necessary to create a token for those people with smaller capitals and with particular and unusual investments. I believe that there is great work behind the project and that their entry into the market can go well. Let’s hope at the end of the year if they can be listed to the big exchanges.