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Demosthenes.eth

@demosthenes

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@demosthenes
In other news, I'm going to try to be on here more often. Just seems like better vibes.
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Congrats!
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20/People will run with it - or they won’t - but either way, it's out there and available now for anyone to do with it what they will. For more information and detailed documentation, see: github.com/Demosthenes-Et… DMs open if anyone wants to reach out.
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19/The token will be low float at the outset, most likely extremely volatile, and may very well end up net inflationary if Issuers aren’t sufficiently motivated to burn. At heart, this is a social experiment. Don’t treat it as anything other than that.
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18/I will not be seeding any liquidity for the token. Users can create their own liquidity pools if they want to trade the token. I urge people to follow security best practices and keep an eye out for classic rug pools and scams. As always, never share your wallet keys.
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17/There is no official Discord, Telegram, Whatsapp, Farcaster, Telegram, or any other social media account for Public Domain Token. People are free to create their own groups around the token if they want, but note that none have any more or less authority than any other.
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16/In the spirit of decentralization, there is no official frontend for the token. You can interact with the smart contract via Etherscan or RPC. Or you can make your own frontend. You do you.
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15/ $PDoT has no owner authorizations and its parameters can’t be changed. It’s intended to be an immutable, ungovernable, decentralized, and open token. It is highly experimental.
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14/Public Domain Token started as a thought experiment turned practice exercise turned side project. It's provided as-is, unaudited, under an MIT license. Fair warning - I am not a professional dev. Use at your own risk.
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12/The interface IPublicDomainToken exposes the core public token functionality and also inherits from IERC20, IERC20Permit, and IVotes. It also exposes useful getter functions such as getIssuerMintFactor(), getIssuerMaxMintable(), getIssuers(), and getExpiredIssuers().
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13/So what is Public Domain Token for? Anything! Or nothing! You decide! The token is completely open and permissionless, so what happens next will be completely dependent on whoever takes an interest and decides to do something with it.
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11/The $PDoT smart contract implements several @OpenZeppelin libraries including ERC20Permit and ERC20Votes, giving the token a range of potential utility. For example, an Issuer could start a DAO and use $PDoT as the governance token.
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10/Issuers can transfer their authority to new addresses as long as the Issuer's authority has not expired. This allows devs to potentially reserve Issuer authorization in advance of deploying smart contracts that intend to utilize that authority, such as a governor contract.
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9/The contract logic considers both inflationary minting and deflationary burning when calculating the mint factor. But it primarily attempts to reward Issuers who show restraint when minting and who contribute toward the stabilization of the token supply via burning.
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7/Issuer authorization is limited to a hard coded interval of 2628000 blocks, or roughly 1 year based on current Ethereum Mainnet block times. Once an Issuer's authorization has expired, they can be deauthorized by any account, freeing up a new Issuer slot.
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8/The contract publicly tracks each Issuer's mints and burns and uses this data to determine their individual mint factor. The more an Issuer mints, the less they can mint in the future. Burning tokens helps to offset the decrease in an Issuer’s mint factor.
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6/ There is a hard coded cap of 1000 Issuers that can be authorized at any given time. Issuer authorization is first come, first serve. Users wishing to become Issuers may want to pay close attention to the Issuer list.
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5/Any account can become an issuer by calling the authorizeIssuer() function and passing the account address as the argument. Yes, any account. That includes EOAs, smart contract wallets, DAO governor contracts, multisigs, game contracts, you name it.
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4/ $PDoT is an experimental attempt to find out. It does so primarily by introducing a privileged class of addresses within the smart contract called Issuers. Issuers are accounts that have the authority to mint or burn $PDoT tokens.
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3/Social behavior in the ecosystem has evolved to treat this token setup as normative. Which got me thinking - what would happen if we switched up the game theory around the TGE and token supply mechanics? How might user collaboration or PVP activity change in response?
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