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6 Crucial Takeaways From The Updated CluCoin Whitepaper

Releasing an updated version of a whitepaper is often underappreciated in the cryptocurrency industry. Providing clear guidance on how a project is evolving and where it will have next is vital information for investors. The new CluCoin paper indicates what to expect in the coming months, with some interesting tidbits worth paying close attention to.

Improving Upon The Safemoon Code

Although it has been mentioned before, CluCoin is a project using parts of SafeMoon’s code and introduces some significant improvements. Whereas Safemoon has peculiar deficiencies, the ClUCoin team took note of these aspects and either negated them or enhanced the code to prevent anything wrong going wrong. It is for this reason the project received a high rating from CertiK following the code audit. Using existing code and addressing its flaws is an essential step toward making a long-term impact on the cryptocurrency industry. 

A Clear Mission

Whereas most recently launched cryptocurrencies have no purpose other than speculative value, CluCoin has a clear mission statement. The project aims to alleviate global suffering by empowering charities and individuals. Establishing a global infrastructure to build one of the largest charity-focused communities. Every CLU holder can vote, and every donation is tracked transparently. Additionally, the goal is to set up CLUnited, a charitable organization, allowing CLU holders to make tax-deductible donations from their wallets. 

The CluCoin Community Focus

No cryptocurrency project can succeed without building a solid community. For Clucoin, the “CLUmmunity” will be able to participate in frequent events and giveaways. Furthermore, there will be virtual spaces for members to socialize, build virtual worlds, and play games while earning prizes. Games built on the blockchain will play an integral role in this regard. Once the Clu Vault storage wallet becomes accessible, CLU holders will earn tokens and NFTs for free, including rare Non-Fungible Tokens provided by Axie Infinity, Decentraland, Arkh, and others. 

Big Utility Plans

Another aspect to analyze is whether a crypto asset has any utility. For CluCoin – initially perceived as a social currency – there will be extra utility in the future. Not only will the community project’s revenue be reinvested into more valuable NFTs, but there will be a mobile wallet. With a built-in Web3 browser, asset swaps, and QR scanner, the team aims to gamify the essential benefits of using a dedicated cryptocurrency wallet. Catering to the needs of long-term holders and newcomers is a top priority.

Making things even more interesting is the plan to launch a VISA-based CLUcard. Through this card, users can deposit funds from their bank account and earn rewards on purchases. The potential rewards include CLU, collectibles, event tickets, NFTs, etc. There will also be multiple interactive games capable of providing cashbacks.

Wallet and Reflection Details

As a currency that offers reflections based on a 10% tax for all transactions, it is pertinent to be as transparent as possible. The different wallets are broken down in the whitepaper, including their token burn schedule and whether they are eligible for reflections. The prelaunch, burn, Pancakeswap, and team wallets will not receive any reflections to maintain a fair and level playing field. 

A Clear Clucoin Roadmap

For a currency that only launched a little over a week ago, a lot has been accomplished already. However, there is a lot more to do in the months and years ahead. The whitepaper outlines a roadmap that will focus on organizational development, rolling out the Clucard wallet, and hints at the project’s next stage, which will begin in 2022. Notable ventures include an upcoming documentary, building an eSports team, revamping the website, introducing subscription-based charity + rewards, and so forth. 

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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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JP Buntinx

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