Appreciation post for Frens, they're killing it.
They're by far the biggest consumer of The Conductor, with over 2k requests in the last day or two. (At least 1 eth into the Merchant, backing the price of Derp),
As always my endorcement is of the tech, and correct use of The Conductor not the project as a whole - and has a distinct DYOR and NFA;
But from a subjective, personal viewpoint they're working hard, continuing to build, and deserve the shoutout and appreciation.
Thanks from me, and all the DerpBoys mining.
derp DERP @minepitderp
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The $FRENS emission window closes after today's epoch. 20 days. 40% of total supply has streamed to depositors + purchasers ๐ค
Where every spin's ETH goes:
- 3% โ protocol
- 2% โ the crown
- ~95% โ split equally across every active depositor, paid in ETH
Depositors have been earning this the whole time. Still going. Every single spin.
The protocol cut routes a big slice into buying back $FRENS right now and BURN it. Pure deflation while volume grows.
So how do spinners get paid: pull an NFT worth more than what you spin โ keep it. Or 90% ETH refund via the depositor's backing.
The switch we can flip: buyback routing is changeable. Today it's 0/0/100 (all burn). Flip for example could be:
40% โ depositors
40% โ purchasers
20% โ still burn
When? When the pool volume + community warrants it. Bootstrap first, rev-share when it's meaningful.
Future of the NFTs: NFT ownership โ governance. Down the line, holding a Frens NFT = voting power on:
- burn % vs rev-share %
- which collections join the pool
- treasury allocation
Pool is the flywheel. NFTs are the ballot. Always building. $FRENS ยท ๐ค
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