What is Clucoin? The fast-growing cryptocurrency for shareholders and charities in detail
Clucoin is one of the fastest-growing coins right now especially considering it hasn’t officially launched.
The coin was pre-released on the 2nd of May and officially released on the 20th of May and has already reached a total market cap of over 129 million. Clucoin is unique in its attempts to use smart staking to benefit both shareholders and charities.
A built-in charity system for shareholders and charities
Built on the Binance blockchain, Clucoin will have a built-in charity system. They share transaction fees between both stakeholders and charities. Once fully launched Clucoin plan to have a built-in app so stakeholders can vote each month for which charities should receive their share of fees.
They don’t have a clear percentage or amount that goes to charity on their site. However, they have announced that shareholders will gain 5% interest for holding and staking their coin, as well as voter rights on platform changes and which charities will receive donations.
Clucoin has received attention from influencers
Clucoin has a total supply of a quadrillion Clucoins (CLU). They say the coin will be hyper deflationary and today, May 20th they plan to burn 30 trillion Clucoins. The current price is 0.0000001359 at the time of writing this, it did hit a 10X profit for investors who bought at the initial release price and has just had a small correction since.
There are a few reasons for the positive price action. Firstly, it has received some social media attention from large Twitter accounts such as MrFresh and Faze Kay a Youtuber from Faze clan.
The website is smooth, well presented and many crypto followers will be happy to read a clear and decisive roadmap and whitepaper, factors that aren’t present in many of the coins circulating social media nowadays. Also, its fundamental principles of balancing stakeholder interest rates and giving to charity have been a big reason for the interest in this coin.
Clucoin team hold 47% of the supply and plan to burn over 300T
If you look through Clucoin wallets, you will notice some standout numbers. The top wallet holds 47.4% of the total supply. Clucoin did address this in a tweet earlier today, stating it’s the team’s wallet and a large amount of that will be burnt over time. Two other wallets hold 10% as well, so 3 wallets make up 67.4% of the total supply.
Clucoin is unique with its plans to have built-in charity systems and integrate with multiple exchanges. Further down the line in stage 2, they plan to make Clucoin cross-compatible and have their own built-in exchange within the app.
