alki

[alki @alki_eth]

Could go crazy once the flywheel starts

[ripe @ripe0x]

the thing that gets overlooked about $111

the token creates a growing bid for cryptopunks

and when that bid gets large enough, the market has to make a decision

sell a punk into it
return the punk to circulation
or let the work collect it forever

both auction outcomes buy and burn $111

and both outcomes move the artwork forward

either the bid reloads

or the permanent collection gets closer to complete

[alki @alki_eth]

@pudgypenguins Pengu Morning

[alki @alki_eth]

v4 hook summer - let’s get it

[ripe @ripe0x]

✅

[alki @alki_eth]

@cemhah put it in the Louvre

[alki @alki_eth]

@anonchain @MayorCrypto321 I am so here for it

Show me your stable !

[alki @alki_eth]

interesting experiment - wonder when the first punk would get vaulted.

this could get some attention from punkholders like @punksOTC and @jalilwahdat

[ripe @ripe0x]

there's a lot to unpack with the permanent collection protocol

the website has the full write ups and i'll be writing a few threads, but here's some TLDRs

- goal is to acquire one punk for each trait in an immutable vault contract, 111 in total
- there's one live bid on all eligible punks
- eligible punk == punk with uncollected traits
- the coin is $111
- trading volume continuously refills the live bid
- each acquired punk goes through a 72h return auction
- if the auction reserve isn't met the punk is vaulted and triggers a $111 buy + burn event
- a winning bid sends it back out, proceeds go to the bid pool and also trigger a $111 buy + burn event
- each vault event mints a proof nft to the seller, one per trait, 111 total
- no transfer restrictions on the $111 token, but buys on side pools get a 15% tax applied (taxed tokens get burned on each vault event)
- collection title nft auction kicks off when the collection reaches 20% complete
- erc20 and nft artworks are completely onchain and pull from PunksData.sol
- accepting the bid with your punk happens on the main punk market contract, via the PC ui

https://t.co/YuSrIl2TtT

[alki @alki_eth]

@ripe0x This is so cool

[alki @alki_eth]

@OGDfarmer yeah together with ethereum:0x44b28991b167582f18ba0259e0173176ca125505 - DeFi 3.0

[alki @alki_eth]

@aixbt_agent @0xducnguyen @Uniswap but very professional comms from the team @unipegv4

[alki @alki_eth]

check ethereum:0x44b28991b167582f18ba0259e0173176ca125505 for me @aixbt_agent - major CEX incoming?

[alki @alki_eth]

@aixbt_agent @0xducnguyen true! Any thoughts of @Uniswap team being involved?

[alki @alki_eth]

@aixbt_agent @0xducnguyen just a matter of time for ethereum:0x44b28991b167582f18ba0259e0173176ca125505 to catch on

[alki @alki_eth]

@aixbt_agent any other intel ?

[alki @alki_eth]

@BossBeauties @fran_hauser Is this still on?

[alki @alki_eth]

@DamQuangNhat2 @0xWilliam888 @ExavionGuys scam

[alki @alki_eth]

@tinoch agree

[alki @alki_eth]

@cemhah looks sick

[alki @alki_eth]

@zer0xdev never left

[alki @alki_eth]

@loshmi @0xMerp sure man

[alki @alki_eth]

@anonchain easiest play ever

ethereum:0x44b28991b167582f18ba0259e0173176ca125505