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https://warpcast.com/~/channel/thecircle
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Conor Grogan
@jconorgrogan
So is this a memecoin or a financial experiment? or both? White paper is intriguing (especially the incentives to grow the LP which will keep it front of mind). Curious if this will result in a meta around MEV sniping the CCTP (if I understand it correctly) https://circlecoin.blue/
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shishigami
@shishigami
meme supercharged by a burn primitive, or a burn primitive supercharged by meme? the question only brings one deeper into the center of the circle.
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Conor Grogan
@jconorgrogan
Is it a buy and burn? or just a burn. If its just a burn, doesnt that just impact "market cap" versus immediate price?
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Conor Grogan
@jconorgrogan
I guess thats part of the experiment 🤷 What is "value" and how it impacts holding patterns/market participants/etc
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shishigami
@shishigami
fees from LP are used to buy and burn
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Regarded
@brap
Oh also, you can track the burn on ultraround.money
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CryptoXman
@cryptoxman
The LP was created with ALL the circle to begin with using Uni-V3. The chaos engine uses the fee to buy circle from the LP and burns them. Ultimately pushing the bonding curve to the right and thereby pushing the floor price upward with each burn.
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Regarded
@brap
Buy and burn. But also on top of that, the Chaos function actually doesn't just do a straight buy and then burn: it creates multiple buys/sells in the LP all in a single TX then burns. This results in creating a high amount of volume, increasing LP rewards for future burns, and leaves price slightly higher than before.
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Profit Maxi
@lesserfool
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