Cigarette
Cigarette The token was issued by some members of the CryptoPunk community. Its goal is currently still quite open-ended and must be decided by the entire PUNK community; at present, however, it is a token used in a$CIG web-based social game: There is a “CryptoPunk’s CEO”, and there can only be 1 of them. Its role is linked to a unique NFT on the Ethereum blockchain, proving that it is the CEO; this proof changes from the corresponding Ethereum address based on who becomes the new CEO. The way to become the new CEO is to pay the previous CEO a preset selected amount$CIG. If the amount is too low, the likelihood that someone will seize its CEO position is higher. But if the amount is too high, the CEO tax that must be paid, namely 0.1%of that amount, will be too high, and the security deposit that the previous CEO had to pay initially will be depleted more quickly. This is the game equilibrium. The “CryptoPunk’s CEO” can write graffiti messages on the web for everyone to see. They can also adjust the 20%issuance rate by$CIG each time, with a cooldown period of 2 cycles. Issuance begins at 1000 $CIG per block, which is the maximum value, while a minimum issuance rate also exists.$CIG is issued linearly to liquidity providers of the CIG-WETH trading pair on SushiSwap, as with any other liquidity mining program. It can also be viewed as a Christmas airdrop to the PUNK community, where each PUNK holder receives PUNK for every CIG they hold. It is spiritually similar in style to the$SOS token, but focuses on a more specific PUNK community. Hopefully, over time, the PUNK community will develop around it and may use it for broader purposes, such as more advanced games or DAO. Because of the project’s decentralized nature, it is currently impossible to determine how it will evolve.
Overview
Cigarette The token was issued by some members of the CryptoPunk community. Its goal is currently still quite open-ended and must be decided by the entire PUNK community; at present, however, it is a token used in a$CIG web-based social game: There is a “CryptoPunk’s CEO”, and there can only be 1 of them. Its role is linked to a unique NFT on the Ethereum blockchain, proving that it is the CEO; this proof changes from the corresponding Ethereum address based on who becomes the new CEO. The way to become the new CEO is to pay the previous CEO a preset selected amount$CIG. If the amount is too low, the likelihood that someone will seize its CEO position is higher. But if the amount is too high, the CEO tax that must be paid, namely 0.1%of that amount, will be too high, and the security deposit that the previous CEO had to pay initially will be depleted more quickly. This is the game equilibrium. The “CryptoPunk’s CEO” can write graffiti messages on the web for everyone to see. They can also adjust the 20%issuance rate by$CIG each time, with a cooldown period of 2 cycles. Issuance begins at 1000 $CIG per block, which is the maximum value, while a minimum issuance rate also exists.$CIG is issued linearly to liquidity providers of the CIG-WETH trading pair on SushiSwap, as with any other liquidity mining program. It can also be viewed as a Christmas airdrop to the PUNK community, where each PUNK holder receives PUNK for every CIG they hold. It is spiritually similar in style to the$SOS token, but focuses on a more specific PUNK community. Hopefully, over time, the PUNK community will develop around it and may use it for broader purposes, such as more advanced games or DAO. Because of the project’s decentralized nature, it is currently impossible to determine how it will evolve.