What makes Shitcoin unique?
According to the Shitcoin white paper/toilet paper, it was created for two purposes:
- A medium of exchange for fungible assets.
- An artistic outlet for minting and selling NFTs.
While there are quite a few projects that offer the same thing, Shitcoin has its own tokenomics that make it a bit different. First and foremost, the Shitcoin ecosystem also includes another crypto token, Baby Shitcoin (CRYPTO:BBYSTC).
There's a 6% fee when buying Shitcoin and a 9% fee when selling it. This fee is split up and used to fund development, add liquidity to the market, and reward holders of Baby Shitcoin. Baby Shitcoin has its own transaction fees of 6% for both buying and selling, which are used to add liquidity and reward holders.
Where Shitcoin came from
Jacob Martin, at the time an unemployed 26-year-old, started working on Shitcoin in July 2021. He got the idea as an investor who ran into quite a few pump-and-dump cryptocurrency scams and lost money because of them.
Shitcoin was released on Dec. 20, 2021, with a presale on PinkSale (PINKSALE +0.00%), a crypto launchpad protocol. The presale sold out, and Shitcoin launched shortly after the presale on PancakeSwap (CAKE +4.18%), a decentralized crypto exchange.
How Shitcoin works
Shitcoin is a crypto token built on the BNB Chain, a smart contract blockchain created by the Binance exchange. Like Bitcoin (BTC +0.31%), it has a maximum supply of 21 million tokens. Each wallet can have a maximum of 882,000 STC, which is 4.20% of the total Shitcoin supply.
There's no fee for transferring Shitcoin, but there are fees for buying and selling it. Here are the fee amounts and how they're used:
