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@wake.bsky.social

Wait, did you burn $MOXIE or Wake tokens? I'm confused

Moxie Official

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the key thing to understand is "bonding curves." if you understand that fan tokens are priced according to a bonding curve - and how moxie is held by that bonding curve contract - the rest should make sense.

when a fan token is purchased, the moxie isn't "spent" - it's "stored" inside the contract. that's why fan tokens have value: they can always be traded for some deterministic amount of moxie.

specific to bonding curves, whenever 1 fan token is purchased:
✔️ price moves up one step
✔️ token quantity moves up one step

whenever 1 fan token is sold:
✔️ price moves down one step
✔️ token quantity moves down one step

BUT, if you buy and DESTORY the token instead, that money stays inside the token's contract FOREVER.

whenever 1 fan token is bought and burned:
✔️ price moves up one step
✔️ token quantity moves down one step

see the functional difference yet? buying and burning stores money inside the token contract AND reduces the supply FORCING token price to increase.

I like pleasure spiked with blockchain and music is my aeroplane. It's my aeroplane. @pizzadao underboss & /politics contributor. Featured in "Number Go Up"

it burns wake fan token.

https://warpcast.com/wake.eth/0x23abbf24

it's moxie i bought from market, then used to buy ~1000 wake fan tokens. then i burned those tokens and locked the money away forever.

the moxie doesn't /burn/ per se, but it isn't likely coming out of the contract either. so functionally burned. lightly singed, maybe.

So this burn in the frame is from your Moxie earnings being used by the contract to buy and burn right? At first I thought you set a couple grand on fire haha