fcof

$Oil - introducing the Farcaster Community Oil Fund FCOF

Word on the streets of farcaster is that there is a fee share for clanker coins.

I do not plan on taking any of these fees

These fees will be shared with folks who are $OIL Tycoons...

How do you become an $OIL Tycoon?

Growing veggies for the fine folks of Southeastern Massachusetts, w/ a focus on nutrient quality. Always interested in the evolution of digital payments.  🎩 

Are you manually distributing the weth fees to qualifying $oil holders or do you have a split set up to automate it?

founder /openventures | /proxyswap | tokenbot @clanker

hoping we automate it, will cross that bridge when we get to it.

I'm going to post more about the snapshop process later today or tonight.

need to connect with @proxystudio.eth to get a better sense of their intended timing for having the next round of fee distribution live.

They've stated fees are 1% with 60% to proxy 40% to the creator

Assuming these fees are in the form of both $OIL and $WETH, I've stated that the $OIL would be burned (to reduce any sell pressure from folks receiving $OIL as fees) and the $WETH would be distributed to the Tycoons and Whales.

so I would anticipate .2% or (20% of 1% of volume) to be distributed.

if my math is correct that's $3200 at the moment.

It will depend on how many of each quality for the distribution.  Distributions would be ongoing for folks maintaining positions.

Thanks for the quick reply

Do you have any idea what the % of total fees you’d end up receiving out of the total amount of fees distributed by proxy is?