boby1988
Joined: 28 Feb 2018
Posts: 156
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 Posted: Mon Mar 15, 2021 4:11 am Post subject: Is Boopsy safe and bug-free? |
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Boopsy is a smart contract that awards more BOOPs to holders of BOOP until there are no more BOOPs to be given.
Is Boopsy safe and bug-free?
We have done our best to make sure Boopsy operates as we expect, but it is impossible to say there are no bugs. This is uncharted territory so there is no guarantee things will work properly.
You are responsible for all your interactions with the Boopsy smart contract because we do not have any way to change or control it after it has been deployed.
Holder rewarding token
Boopsy was an idea dreamt up in the summer of 2020 while marveling at the success of projects like Ampleforth (AMPL) — the most prominent elastic supply token that aims to achieve a stable price by periodically readjusting the entire AMPL supply — a process called rebasing.
Ampleforth
Here’s how it works:
When the price of AMPL increases above $1, all AMPL holders receive more AMPL (but their share of the total pie does not change).
This causes the price of each AMPL to go down since the total supply just got inflated. (In fact, the Ampleforth smart contract automatically notifies decentralized exchange liquidity pools to reflect the new ratio).
When the price of AMPL decreases below $1, the reverse happens. All holders lose a portion of their AMPL holdings, causing the price to increase back towards $1. The overall value of their holdings does not change.
The project is complete and the Boopsy smart contract has been deployed as of February 19, 2021.
Boopsy will be launched on Uniswap on Sunday February 21, 2021 at approximately 21:21 UTC (1:21 PM PST / 2:21 PM MST / 4:21 PM EST).
1m of the total 5m initial BOOP tokens will be allocated to the Boopsy team for development and liquidity costs.
The remaining 4m BOOP will be added to the Uniswap ETH/BOOP trading pair in tranches over time.
The initial liquidity will be approximately $100k USD (in ETH) to 1m BOOP, giving approximately $0.10 per BOOP. This gives a fully diluted market cap of $500k.
How it works
Supply starts at 5m BOOP and grows to a maximum of 100m BOOP.
When the number of holders of BOOP increases over a given day, all holders are rewarded with more BOOP. At the same time, the following reward rate is decreased because demand is already high. (Minimum: 1%)
When the number of holders of BOOP did not increase over a given day, no new BOOP is rewarded that day, but importantly, no BOOP is ever taken away from holders.
Instead, the reward rate for the following day increases as to attract new holders. (Maximum: 5%)
If you are interested in this, please visit https://boopsy.finance
Here is the token
contract: https://etherscan.io/token/0x76Ed97e2F710e259EB9379Fe50B660f77d716683
Uniswap info: https://info.uniswap.org/token/0x76Ed97e2F710e259EB9379Fe50B660f77d716683 |
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