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Boopsy is a smart contract that awards more BOOP to holders.


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Boopsy is a smart contract that awards more BOOPs to holders of BOOP until there are no more BOOPs to be given.

Holder rewarding token

Boopsy  was an idea dreamt up in the summer of 2020 while marveling at the success of projects like Ampleforth (AMPL) — the most prominent elastic supply token that aims to achieve a stable price by periodically readjusting the entire AMPL supply — a process called rebasing.

Ampleforth

Here’s how it works:

When the price of AMPL increases above $1, all AMPL holders receive more AMPL (but their share of the total pie does not change).

This causes the price of each AMPL to go down since the total supply just got inflated. (In fact, the Ampleforth smart contract automatically notifies decentralized exchange liquidity pools to reflect the new ratio).

When the price of AMPL decreases below $1, the reverse happens. All holders lose a portion of their AMPL holdings, causing the price to increase back towards $1. The overall value of their holdings does not change.

The project is complete and the Boopsy smart contract has been deployed as of February 19, 2021.

Boopsy will be launched on Uniswap on Sunday February 21, 2021 at approximately 21:21 UTC (1:21 PM PST / 2:21 PM MST / 4:21 PM EST).

1m of the total 5m initial BOOP tokens will be allocated to the Boopsy team for development and liquidity costs.

The remaining 4m BOOP will be added to the Uniswap ETH/BOOP trading pair in tranches over time.

The initial liquidity will be approximately $100k USD (in ETH) to 1m BOOP, giving approximately $0.10 per BOOP. This gives a fully diluted market cap of $500k.

How it works

Supply starts at 5m BOOP and grows to a maximum of 100m BOOP.

When the number of holders of  BOOP  increases over a given day, all holders are rewarded with more BOOP. At the same time, the following reward rate is decreased because demand is already high. (Minimum: 1%)

When the number of holders of BOOP did not increase over a given day, no new BOOP is rewarded that day, but importantly, no BOOP is ever taken away from holders.

Instead, the reward rate for the following day increases as to attract new holders. (Maximum: 5%)

If you are interested in this, please visit https://boopsy.finance

Here is the token

contract: https://etherscan.io/token/0x76Ed97e2F710e259EB9379Fe50B660f77d716683

Uniswap info: https://info.uniswap.org/token/0x76Ed97e2F710e259EB9379Fe50B660f77d716683

 

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