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Phewz
@phewz
gembox's ($GEM + $BOX) tokenomics is a game of strategy, not chance. First mover tech on /base with very very novel ideas to combine ERC20 + ERC721 Some casts about gembox.wtf
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Phewz
@phewz
To get the full picture, you need to understand the difference between the two associated tokens: • $GEM is an ERC20 token with a deflationary twist • $BOX an ERC721 NFT backed by native ETH. To claim the accumulated ETH, you have to burn your BOX - triggering the flywheel:
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Phewz
@phewz
gembox creates a tokenomic playground, where $BOX NFT auctions feed ETH rewards to current holders of both, $BOX and $GEM in an interesting flywheel mechanism. It's using the Nouns auction house contract to create a loop where strategy beats luck, every 6 hours.
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Phewz
@phewz
Every sale of a BOX rewards holders: BOX is engineered to gather rewards fuelled by the ETH received from auction bids. Imagine there are 11 NFTs floating around, and the upcoming auction for a new NFT closes at 5 ETH. This 5 ETH is then allocated across the 11 existing NFTs:
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