We have created an intensive FAQ to help our users understand the risks associated with the project. We want to be transparent about the risks and to make sure that our users are making informed decisions. We are also committed to compliance with all applicable laws and regulations. We believe that having an intensive FAQ is an important part of our compliance efforts. We are committed to creating a compliant digital asset. Despite our best efforts there still is inherit compliance risk due to lack of clear regulations for the ascent cryptocurrency industry.

Piggy Bank has no direct affiliation with Richard Heart or any other entity, and we have not received any compensation.

The tokens are not being offered as an investment. Piggy Bank(OINK) tokens serve as utility tokens designed exclusively for participation in the project's governance and ecosystem.

Ownership Interest: The tokens do not represent any ownership interest in the project or any other entity. They are intended solely for participation in protocol governance.

Regulation: Please be aware that the token is not regulated by any financial authority, and there is no guarantee of its future value. Its value may fluctuate and is subject to market dynamics.

Risk Warning: The future performance of the tokens is uncertain and could potentially go to zero. Before acquiring tokens, it is essential to understand and assess the risks involved.

Decentralization: Our project is fully decentralized, with no central authority governing it. The founding team will relinquish any active role in development and marketing post-launch. The project's management and direction are now in the hands of the community.

Community Governance: The project is entirely in the hands of the community, which has full responsibility for its governance and decision-making.

By acquiring and using these tokens, you acknowledge and accept these terms and conditions. Please conduct thorough research and consider your own risk tolerance before acquiring any tokens. If you have any doubts or concerns, we recommend seeking advice from a financial advisor or legal professional.

FAQ

Notice: the information provided is for informational purposes only and does not constitute financial advice or an offer to invest. Details are subject to change.


What's "Piggy Bank" and what does it do?
Piggy Bank is a Memecoin and a decentralized autonomous protocol on PulseChain. Projects goal is to create a funny memecoin that replicates succesful scarcity effects of Bitcoin. With projects success, the in-built treasury can serve as a "piggy bank" to support public goods and philantrophy. OINK.


Earn OINK rewards using PulseChain ecosystem tokens
PulseChain users can mine OINK token using their PLS, PLSX, HEX, INC and many other tokens. The goal of giving cryptocurrency to PulseChain ecosystem holders is to build a community and create a fairly and widely distributed decentralized currency.



What is the utility for Piggy Bank token OINK?
Piggy Bank tokens, denoted as OINK, play a vital role within our ecosystem. They serve a dual purpose: to actively participate in securing and governing the protocol and to incentivize long-term commitment to our network.


What is the scope of security audit for Piggy Bank?
Piggy Bank is a comprehensive protocol consisting of multiple smart contracts. The entire protocol has undergone a peer review by an independent researcher. Additionally, the contracts holding principal in PLS, HEX, PLSX, and INC have beenrigorously audited by two professional security auditing firms to ensure the safety of deposited tokens.

It's important to emphasize that despite our efforts to ensure your safety, no system is entirely risk-free. The auditing process is designed to mitigate the likelihood of security breaches or bugs, but it cannot provide absolute guarantees. In the world of cutting-edge software development, there is always a slight inherent risk of software bugs, design flaws, or other technical failures.


Is my principal safe from hackers and vulnerabilities?
Reward contracts have been audited by 2 independent professional security auditing firms, as well as an independent security analyst. Your principal is probably safe. However keep in mind that the auditors do not give any guarantees.


Are there any fees charged on the principal?
The system has in-built optional deposit and mining fees. Fees can be manually turned on through the governance process. Deposit fee is charged once, while funding fee is charged perpetually. The fees earned are taken from your principal and go towards a SMART CONTRACT, collectively governed by long term miners. This creates the possibility of creating collective wealth (a "piggy bank"). Referral fees can be used to reward the adoption of the protocol.


How does Piggy Bank compare to Bitcoin?
Bitcoin became the first succesful decentralized digital asset. We try to emulate the properties of Bitcoin to create a genuine and scarce digital asset.

In a world of endless inflation and depreciating currencies, Bitcoin became a digital gold with maximum supply of 21 million Bitcoins.

Note that past performance is not necessarily indicative of future success.


What are some similarities between Piggy Bank and Bitcoin?
1.) Bitcoin has a maximum total supply of 21 million bitcoins.
Piggy Bank has a maximum total supply of 21 billion OINK tokens.

2.) Early on Bitcoin required no investment. It could be obtained using regular computer hardware.
Piggy Bank requires no investment early on. PulseChain community can obtain tokens using assets they already possess .

3.) Bitcoin inflation reduces every 4 years through halvenings.
Piggy Bank inflation reduces periodically through reward boost events. Short burst of high rewards is followed by a token burn and reduction of the global inflation.

4.) Bitcoin prevents centralization of mining conglomerates through validating nodes.
Piggy Bank prevents potential centralization of big token holders through the senate.

5.) Bitcoin software can be upgraded through consensus (GOOD).
Piggy Bank software can be upgraded through consensus (GOOD!).


What are some differences between Bitcoin and Piggy Bank?
1.) Bitcoin is a decentralized NETWORK
Piggy Bank is a decentralized PROTOCOL deployed on PulseChain network.

2.) Bitcoin miners get rewarded for securing the network and adding transactions to the blocks.
Piggy Bank miners get rewarded for securing the network, maintaing the consensus and governing the protocol.

3.) Bitcoin supply could be manipulated, changed and increased through consensus (BAD!).
Piggy Bank supply is FIXED and IMMUTABLE (GOOD!)

4.) Bitcoin blocks and rewards are mined every 10minutes. Transactions can take upwards of 10minutes to confirm.
Piggy Bank utilizes PulseChain network. Rewards are mined roughly every 10seconds. Transactions are confirmed within seconds.

5.) Bitcoin network is ENORMOUSLY expensive to maintain and consumes TREMENDOUS energy resources. It pollutes and destroys the environment.
Piggy Bank is energy efficient. There is minimal to no toll on the environment.

6.) Bitcoin mining is a complex and computationally intensive process that requires specialized hardware and software. This has made it difficult for the wider public to participate in mining, and has led to a concentration of mining power in the hands of a few large players.
Piggy Bank mining is a simple process initiated between the user and the smart contract on the blockchain. This makes it possible for anyone to participate in mining, regardless of their technical expertise. This helps to create a more decentralized and equitable cryptocurrency network.

7.) Bitcoin community has little to no power in the network.
Piggy Bank community has the power and control to allocate Treasury resources towards (PulseChain)public goods, the community, charitable causes, longevity research and more.

8.) Bitcoin rewards miners to pollute the environment. Miners hurt it's ability to store value as they must sell tokens to cover costs of their operations.
Piggy Bank rewards the community at little to no cost. It creates the potential to allocate resources towards the empowerment of society and public goods.


9.) Bitcoin is considered to be safer, established and globally recognized "store of value".
Piggy Bank is highly risky and could occur failure and/or have it's token go to 0.


Where do the rewards and treasury funds come from?
The mining rewards, as well as treasury funds come from inflation built into the smart contract.


What can the treasury funds be used for?
The treasury funds are meant for the creation of public goods for the community and philanthropic purposes.


What are the risks involved?
Your principal is likely safe and you can mine Piggy Bank currency(OINK) for free or at cost of fees.

However, the rewarded token itself(OINK) should be considered as highly experimental and there is inherit risk the project fails due to technical or societal issues. It might not succeed over the long term and could go to 0.

Cryptocurrencies are highly risky and volatile assets. While we do believe the system is safe and secure, there is always risk of software failure, bugs or design flaws. There are no guarantees.

The project is subject to a number of risks, including technical, regulatory, and market risks.


Is this an opportunity to make money?
This is an opportunity to participate in a decentralized protocol and acquire a new and unique digital asset.

You should have no expectations of financial returns. The primary goal is creating a scarce digital asset and a good decentralized system that brings utility to the community.

There is no promise of future value. The tokens are likely to be highly volatile and could go to 0.


Can i earn passive income with Piggy Bank?
You can mine Piggy Bank currency by locking up your tokens. The rewards are paid in the native currency OINK. You can earn tokens, but there is no guarantee that the tokens will have any value. You should have no expectations of financial return.


Can i make money with Piggy Bank?
Piggy Bank token (OINK) IS NOT an investment. It is a decentralized system designed to provide a benefit to the community. It's a community tool made to support the development of public goods on the PulseChain network. There is no expectation of financial return. However, if you will decide to invest in the Piggy Bank token, you should only invest money that you can afford to lose.


Should i buy the Piggy Bank (OINK) Token?
We want to give the PulseChain community an opportunity to acquire a new and unique digital asset FOR FREE. We encourage you to mine our token for FREE.

If you decide to buy the tokens, do so at your own risk and responsibility. They are likely to be highly volatile and could go to 0.
Only risk what you are willing to lose.

The project team is not responsible for any losses that may be incurred by anyone who purchases the tokens.


What is "The Senate"?
The senate consists of members where 1 member = 1 real person. It's incorporated as a means of further decentralizing the network and preventing big token holders from gaining control over the protocol.

The senate has the power to veto all governance and treasury requests. Senate members receive the ability to redeem a portion of voting credit to their wallet with each token published.
The role of the senators is to SECURE and further decentralize the network.

They must represent and protect the interests of the public.

This mechanism has some similarities with the concept of Bitcoin validating nodes - which serve as a means to prevent the miners from getting control over the network.


How to become a member of the senate?
We believe the best senator members would be public and trusted members of the PulseChain community.
Ideal number of senators would be 50-100 members. You should contact your favorite twitter influencers to apply as a senator.
If you can provide value to the Piggy Bank, you can apply as well. Twitter/Telegram account is required.


Why pursue PulseChain community to become a member of the senate?
The goal of senators is to serve and act in the interest of the public and the PulseChain community. To make sure the currency is distributed in a fair manner to a wide array of participants.

Piggy Bank miners will naturally seek to to decrease allocations towards(PLS, PLSX, INC, HEX, T-SHARE) as that increases their own rewards. The senators serve as a balancing act to protect and reward the PulseChain community as a whole.

Senators have the power and influence to protect the interests of PulseChain community. There are only benefits to being a senator with little to no downside.


What expectations can i have from the founding team?
It is very important to understand that we had to put hard work and countless into bringing the project to fruition. We were not motivated by financial motives. We were not marketing in attempt to raise as much sacrifice funds as possible. Instead we were committed to building a great product aligned with the core values and fundamentals upon which cryptocurrencies were founded.

This is our GIFT to the community. The protocol is now fully launched. There is no future work or effort from the team. As a finished&complete product you should have NO expectation of work or effort from the founding team post-launch. When tokens are distributed, the minting process will begin and the protocol will be fully decentralized. The project becomes full responsibility of the community. There should be no expectation of future work or promotion from the founding team.

The only role of the founding team post-launch can be of educational nature. At our best effort we will attempt to educate users and provide information about the technology and functionalities of the system.


Read The Full Whitepaper

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