Protocol Details
Minting/LPing for Chads
When you mint on the website, this is what happens:
You provide some ETH for the Uniswap Pool.
You fund the Chainlink VRF account with 1 LINK. This is used for the verifiable randomness of the system. This is what brings fair fuggability to the system.
In return, you get:
LP position in Uniswap, with your ETH and the equivalent, freshly minted $FUGG. Fugg yeah.
Moar fresh $FUGG directly in your account, ready to fugg around and find out. The amount will depend on how much $LINK is left in Fugg's contract, in order to incentivize minting more when reserves are low. This goes from 0% (if the LINK subscription is full) to 50% more.
Fugging Transfers
This is what happens when you start fugging around. Every transfer (including selling) is subject to the following for the sender:
5% probability of getting up to 69% of your tokens burned. You'll get 10x the amount in points.
5% probability of earning up to 69% yield on the amount of transferred tokens. No change in points.
5% probability of airdropping up to 69% of your FUGG to a random hodler. You get 10x the amount in points. BTW only accounts hodling at least 0.001 ETH worth of $FUGG (at the time of their last transfer) are counted. We don't want those naughty sybils fugging around too much, no?
5% probability of receiving a unique fuggin NFT!! Fully on-chain, generative art. An SVG marvel, that will outlast humanity and survive even when dinosaurs reclaim the Earth. If you win an NFT you'll lose all your points though.
The Fugging Lottery
Points!!! Hell yeah. Fugging points!!! Can't make a protocol without points these days, we all know that.
How does this work? Well besides the previous goodies, the following can happen at the same time:
50% probability that you give a little of you $FUGG to the lottery. How much you give is random and up to 10% of all your $FUGG. You'll get 10x the amount in points.
A probability of winning the lottery (up to 2% chance). Guess what. Depending on how many points you have, the higher the chances. That's it. Points with utility. We are at the edge of crypto innovation here. ChaosFi is truly the future of France. BTW If you win you lose all points.
The following image shows that the users with the most points have greater chance of winning the lottery, and that this is non-linear:
Total Supply
Total supply is not capped, but thanks to the burn mechanism, and self-balancing minting it won't grow indefinitely. Moreover, minting doesn't directly reduce the price of the token in the Uniswap pool, as the equivalent amount in ETH needs to be added to it, which helps reduce the selling pressure thanks to the locking mechanism.
Some Fugging Caveats to be very well aware of:
Welcome to the wonderful world of on-chain randomness. It's not as good as we all would like. So take this into account:
Always pay attention to the transaction simulation before signing. If it fails, don't send it.
All this VRF magic happens asynchronously (ie not in the same block, but later at an undefined time). So don't expect the results immediately. Your tokens will be locked until then. I know, I know... you want to complain. But believe me that otherwise, MEV searchers would have an unfair advantage.
This system depends on Chainlink, and it can fail. The main reason would be that the link contract runs out of LINK, so we would need some Chad to help with that. That's why we call them chads and why they get an extra fat bag of $fugg.
Locking will timeout after 2 hours if Chainlink doesn't do its duty, so your tokens will be free to play again.
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