Click on my profile, follow since you’re there, then find the post I was talking about. 7-8 days ago
I was about to post a bunch of screenshots of these coins but I rather leave some meat on the bone for you to get yourself if you’re interesting.
Being “spoonfed” information is one thing, but having it shoved down your thought is another.
These 2 charts are 2 different coins, but these coins work together.
These coins are GIFF and pGIFF
Now I know what some of you are thinking… “pGIFF? Is that a pulsechain coin? So GIFF is the ethereum version”
Well, not exactly.
GIFF and pGIFF are both tokens built on top of Pulsechain.
Look at that, a couple of haters clicked x already cause they don’t like Pulsechain.
Oh well.
GIFF was built on Pulsechain because the technology they use would be too expensive to run on ethereum.
There is 1 billions GIFF tokens.
What can you do with your GIFF tokens? Well, if you want, you can BURN GIFF to create pGIFF.
Might take a moment to digest this image, quality is low but you can still read it all
BnB means Buy and Burn
So the way it works, you take 10 pls per GIFF, run it through the contract and MINT yourself pGIFF
The GIFF gets sent to a dead address
The PLS goes towards buying and burn PGIFF off the open market using a DEX aggregator (which spreads your order across the most liquid pairs to get best price execution)
One side note, GIFF that is burnt is sent to a dead address that was forked over to pulsechain, so although no one has control over those coins, they are still counting towards “circulating supply’ or “total supply”
But the pGIFF that is bought off the market through to contract is actually DELETED.
So basically if PGIFF’s price is 10pls more that GIFF’s price then you can ARB the price difference by burning your GIFF and paying a 10pls per GIFF fee to mint yourself pGIFF
Example: 10,000 GIFF goes in, you also pay a 100,000 pls fee, then you can MINT yourself 10,000 pGIFF, that fee you paid goes toward buying that coin on the market, which is illiquid relatively, so it pushes the price up, and permanently removes those coins from existence.
By the way, for the people who have read this far, the p in pGIFF stands for perma. The Perma Bull. The Perma Bull idea came from the PulseX buy and burn.
For those that don’t know PulseX is a uniswap type DEX built on pulsechain.
So if you have ever used a DEX, you know that self custody is awesome, and the transactions are worth the 0.29% fee
The thing with PulseX is that fee goes towards buying and burning the PulseX coin, which translates into a whale, that just buys a lot everyday, and NEVER sells… thus, Perma Bull.
This system needed another piece
Introduce iBurn
This changed things a bit.
There is a coin called icosa.
This icosa coin, just like every other erc20 coin, got forked over to pulsechain.
So, this contract, can burn either icosa, the original one from ethereum, or the pulsechain version.
This mechanic is actually making people bridge over their eIcosa to pulsechain so they can burn it for iBurn
If eIcosa and Icosa on pulsechain reach parity it would be very interesting.
If you notice though in the image, you need 1,500 pls per Icosa or eIcosa to mint your iBurn.
85% of that 1,500 pls goes towards burning and deleting the iBurn off the market
But, 15% of that 1,500 pls goes towards buying and burning pGIFF
So, what happens. Brace yourself for a lot of new but real information
eIcosa and Icosa wake up after having their own “drama” and storyline that we won’t go into.
eIcosa pumps.
If it pumps high enough it will kick start the icosa/hedron system buying up cheap eHEX to make 5555 stakes for the auctions to mint icosa to then bridge over to pulsechain to burn along with the pls fee to mint iBurn which causes buy pressure for iBurn and pGIFF but that buy pressure is deleting supply, when supply goes low and buys keep coming in what happens to price?
Well… these are the prices 8 days ago
Around 1.6 cents each…
Guess what, they are worth 5.2 cents as I am writing this.
THIS is what tokenomics is all about.
This is how you build in “perma bull” mechanics into your system.
Creation, not inflation.
When done right, you are profiting from destroying something that already exists in order to create something completely new, and the fee you are paying to do this creates an up and to the right price chart.
The INLEO team is waking up to the power of tokenomics.
Built in price pumps is the best marketing