Today, we are examining little-known tokens in the crypto space. Going through Reddit, universal Pickle token for some reason grabbed and kept my attention.
Universal Pickle Token has launched 35 days ago. To be specific, on the 20th of December. It currently has a sub $500,000 market cap. And a total supply of $1,000,000,000. Experience meme token investors on Reddit are tipping to become a star token in 2022 and I see why.
Let’s look at what the token is exactly.
Universal Pickle describes itself as not just another cryptocurrency but a movement. The plan is that the project will be the first-ever to enter the food industry. How do they want to enter the food token? The lite paper answers that, by saying that the Universal Pickle project will be providing the food industry with a new brand of pickles, one that is on the
blockchain and in stores.
Another major feature of this project is the fact that the project plans solve the problem of the lacking connection between the crypto market and the physical world.
The team went on to explain the problem further. According to the team, We as humans rely on physical connections. Sight, feels looks, tastes, and everything that means to be human outside of the digital world.
Because of this natural human condition, the project has opted to implement the feeling of a token in the physical world.
The team argued that once people can see that a token has been brought to life, they will have a different outlook on the digital market of crypto.
I consider this a genius idea. You can see this project is not the generic Binance Smart Chain Play to earn, with a sprinkle of NFT project.
Like I said earlier. The token supply is just
$1,000,000,000. This supply is commendable. It doesn’t have the gazillion supply of most meme projects, which perpetually renders them useless in the grand scheme of things. When a transaction is initiated and executed, an automatic fee of 12% is in effect. This 12% is slightly high. The standard practice is 10% and below. However, this fee is split into five different sources to help the project develop and most importantly gives back to investors in the project.
Here is a breakdown of how the 12% tax will benefit the investors and the project.
4% from the 12% tax is redistributed to holders of the token. This makes the $UPL reflection token. For those who do not know. A reflection token rewards loyal holders of the token by giving a certain part of the tax to the holders.
2% from the 12% tax is sent to the liquidity pool. This makes the token more liquid so that transactions can be carried out seamlessly in the Universal Pickle ecosystem.
2% is sent to the marketing wallet. This is supposed to enable the dev team to pay for advertising and promotion of the token. This is a reasonable marketing share.
Another combined 4% is used bought back and burned. This makes the token hyper deflationary. If you don’t know what this means, just know that the token is programmed to go become more valuable.
Developers Behind the Project
The Developers are semi-doxed. On the road map, they promised to present a fully doxed team in the latter part of the year. However, their head of marketing is doxxed. His name is Kimmy Pilo. Kimmy Pilo is a European from Sweden. His linkedln profile is lacking in content and connection though. Instagram is where he is most active.
In conclusion, this token has loads of potential and room for growth. I do not think it is a scam. The concept is unique. It is not every day one runs into such a unique and ambitious project. The token seems to be gathering organic attention and is building a community of believers. The only thing that will stop this token is if they fail in their marketing and if the developers become greedy. Yes, the contract is not renounced. Investing in this project means completely trusting the developers.
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