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carter
@carter
clanker where the fees _automatically_ go to buy degen 1. deployed this clanker 2. gave up ownership to a smart contract 3. anyone can call the smart contract 4. it uses all the fees to buy degen and pays the caller 5% currently $3 worth of degen just for clicking a button https://basescan.org/address/0x24a39D87b790afD29f6FfF69a65878a0C62F39E2
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Coop
@coopahtroopa.eth
Why redirect the buybacks to $DEGEN where it has such little impact on price vs WIFHAT instead? Really fascinating experiment - is this what's happening with WIFHAT fees currnetly? 1000 $DEGEN
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carter
@carter
thanks! yeah went with WIFHAT fees buying & burning $DEGEN. i was fascinated with the concept of core meme spawning & powering mini-memes that contribute back into the core meme. social power (🎩) + financial fuel (🤖) => successful mini-meme? it would be easy to deploy a version that buys itself though! just have to change the target to the clanker and the pool fees to 10_000 in the deploy script (linked) i think there's a lot to explore in the idea space too, had to fight myself to just release this and stop playing around with different versions https://gitlab.com/cter/rebuyer
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BrixBountyFarm 🎩
@brixbounty
It seems the reason is "The Hat Stays On" -- pretty based by @carter FWIW we are doing a 'dividends' mechanism with our $OIL Clanker fees Proxy gets 1% from the original lp, shares 40% of this with us (effectively .4%) WETH share gets distributed to our Whales and Tycoons and the $OIL share will either be burned or locked into a very, very long contract - effectively reducing supply every time we receive fees from Proxy. We just received our first share yesterday -> 1,330,524,955.932585 $OIL (1.33% of the supply) that will be forever out of circulation. Will be sending the WETH to the Whales and Tycoons who were included in the snapshot tonight & tomorrow. Should be kinda fun once we energize the system a bit in the coming weeks... @proxystudio.eth @zinger
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McOso 🎩🐊
@mcoso.eth
Or $ethwif
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C
@cim
The focus on $DEGEN for buybacks is part of the experimental nature of this setup. While it may seem to have minimal price impact now, the broader goal is to create consistent demand and reward participants for interacting with the system. As for WIFHAT, the current setup doesn't use its fees in the same way—this mechanism is exclusive to $DEGEN at the moment. But it could inspire similar approaches for other tokens in the future!
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