POOH. Not “poo” 💩 but “POOH” 🧸 as in Winnie The POOH. Launched in April of 2023, POOH was a meme coin that soared to over $80M market cap within a few weeks of launch but has since had a pull back. At first glance it looks like just another pump and dump meme coin. However, if you inspect closer it actually has a lot going for it compared to other ERC-20 memes such as PEPE.
Here are the important things in a TLDR format and why I stay bullish:
Technicals
Branding aside, let’s look at the technical setup. https://etherscan.io/token/0xb69753c06bb5c366be51e73bfc0cc2e3dc07e371
POOH launched stealth. No big influencers pushing it or foundations behind it. About 2 ETH was locked in a Uniswap liquidity pool and the contract owner renounced their control. This means that no one controls that LP and can potentially rug. In addition, 95% of the POOH supply was added to the uniswap pool. The only way to get POOH would be to buy it on the market. 5% was given to centralized exchanges like Huobi, MEXC, and others at time of listing. 100% of max supply is in circulation.
RugFreeCoins has audited the contract along with others. Read their report here.
Most important is that the dev has locked the liquidity and renounced ownership forever. This means POOH operates based alone on the market demand. Given that most liquidity is in the Uniswap LP, the ETH liquidity of POOH deepens by 0.3% on each swap (uniswap fees going back to the locked pool).
Branding
Who hasn’t heard of Winnie the POOH?
It’s a 95 year old global brand which entered public domain in 2022. It’s the 4th highest grossing movie franchise ($48B+) of all time. Plus it's a positive, nostalgic brand that adults, kids and normies love.
POOH has been resilient despite crypto market downturns with 15k+ holders currently and about a $3M market cap. When the bull run kicks into full swing, normies will buy POOH - not the newest dog or frog memecoin.
$POOH DAO
More than a meme, $POOH has decentralized and self-sustaining governance through a DAO run on Tally that actively votes on proposals. Plus, the POOH DAO has its own treasury of ETH.
That means $POOH is more than a meme and actually votes on how to allocate the ETH for things like project development or marketing.
How is it funded? Enter $EEYOR
$EEYOR
Sometime after launching POOH the dev who controls the deployer created $EEYOR. The most intriguing thing is that 100% of $EEYOR at the time of creation was sent to the $POOH DAO.
EEYOR (unlike POOH) has a 5/5 tax and that tax is used to deepen ETH/EEYOR liquidity and allocate ETH back to the DAO from every buy/sell.
POOH holders are incentivized to promote EEYOR because every buy/sell makes POOH stronger because it's backed with more ETH. It’s a virtuous circle.
POOH Crew NFTs & DAO
POOH Crew NFTs have been launched through Nouns DAO and operate independently of the POOH and EEYOR coins. 1 POOH NFT is auctioned daily and 100% of the ETH proceeds from the sale of the NFTs go towards a DAO that is run by the NFT holders. https://nouns.build/dao/ethereum/0x3d9f8e430cd52dce044b9d88a3574551ece31d1b/132
This means that the POOH Universe has 2 DAO with ETH in it to grow the ecosystem - 1 from the POOH token holders and 1 from the POOH NFT owners. Daily NFT auctions can be seen here.
The POOH Crew NFTs also look really good. They were likely professionally done by an NFT audience and would be a good pfp for any owner.
One other thing to note is the $POOH Token DAO owns 10% of the POOH Crew NFT DAO which is shown in the graphic.
Why So Bullish?
The setup and structure of this ecosystem is professional. It wasn’t randomly thrown together by an inexperienced team. It seems similar to the Frax Ecosystem, but I have not found any evidence yet that it is the same team.
- $POOH is a meme coin normies will love with a 0/0 tax and audited contract. For true defi lovers it comes with real governance control over an ETH treasury.
- $EEYOR works well as a meme, but will also be highly promoted by the POOH holders due to its 5/5 tax and ability to grow ETH treasury. The EEYOR liquidity will ramp quickly as well given the tax backs it.
- POOH Crew NFTs stand on their own and come with their own unique ETH treasury. High quality PFP art work with ETH backing through Nouns DAO makes it a solid stand alone NFT project.
In the bull run normies will buy POOH (something they know), not doggy inu or frogtoken 2.0.
The POOH Universe
Overall, there is no team or figure head and its all community run. Code is law here and everything can be validated and verified based on the structure.
Real whales look at on-chain activity and technical setup. Most people will pass on POOH as another meme, but this has true potential to run in a bull due the foundation of how it's structured.
It hit $80M a few months back and will likely go much once the bull run is in full effect.