Flo
@dflory3
I just won 701 $DEGEN in Gate of Degen! @degengate
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RJ (replyor)
@shulzzz
do you buy the gate tokens or whatever? still dont understand wtf this is
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Flo
@dflory3
I still don't understand it very well, but I understand it a little more now that @tormential and @hammallama.eth explained it in the /hellfire DCs if you are a part of it (see if Tor can add you to the group). If you get 800 or more you can buy a key to person in GoD and collect degen, but keys are expensive for certain people. If you get 200 or less you can just buy positions towards a person. Your positions increase in value and can sell to collect Degen. If you sell though it affects the overall price of said person. I could be completely out of pocket with my understanding so the other two can explain it better.
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TORMENTIAL 🎩
@tormential
That is a very good summary! CC: @6bazinga
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🍖🦙🎩
@hammallama.eth
It's one of the more complex projects for sure opening gates is opening a "vault" for that person I've never closed any positions. It was free degen to me so I want to let it ride
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RJ (replyor)
@shulzzz
Thanks. So it's basically another type of trading card or fan token situation, but with subsidies? Can you do anything with the keys or theyre for collecting only?
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6bazinga🌭🎩🥕
@6bazinga
Yes, that Is a solid explanation. Prices of keys vary greatly depending on the individuals influence. The more "popular" the more the key costs. You can essentially mint anyone's key as well as your own. Each transaction has 1%tax. Of that 1% - 95% goes to the key holder and 5% to the crown. Until the crown is "claimed" by the profile owner at which point 95% goes to the crown and 5% to the key. But this is no impact on a standard "position" held by putting into a GoD
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RJ (replyor)
@shulzzz
50 $degen for the explanation too, thank you
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