Quick Rundown: Bogdanoff Approved
Proof Of Weak Hands [PoWH] is a Smart Contract economic simulation system that evolved from (we shit you not) an autonomous blockchain ponzi scheme written by Jochen-Hoenicke a main developer of the Trezor hardware wallet.
Previous developers launched a modified version of his Ponzi-contract on a website covered in frantic begging for you not to invest in the scheme, instead the original contract (and clones) have consistently taken up 5-15% of the ethereum network's traffic ever since! Oops.
While that initial smart contract
failed succeeded spectacularly in a blaze of glory that involved stack overflow bugs, JUSTing everyone (including the dev team) out of their own money, and the crashing of other ERC20 tokens who unknowingly had the same token bug with no survivors. We're pretty sure everyone had fun except for this guy. Press 0xFFF To pay respects to old PoWH devs.
In non crypto terms, they made a joke ponzi contract and managed to scam everyone including themselves.
Proof of Weak Hands: 2 - Electric Boogaloo (Also known as PoWH-3D) is a new team with new programmers deploying a full rewrite of code from the ground floor (you're on it!) that takes some of the truly interesting aspects of that experiment, and applies them to a new linear algorithmic model that is no longer intended to funnel funds to the first-investors.
With the unique rules we developed based on the coolness of the other smart-contracts (passive income is awesome). We've created the first truly three dimensional cryptocurrency asset that successfully replicates economic models that people have been trying to tell you "might be great" for decades now.
Join us and see how well this goes!