$TRIP
Everything there is to know about $TRIP

Contract address

0xd948efcc99be419ca9bdace89b2bec31edf13adb

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Tokenomics

  • Supply: 17k starting supply; uncapped
  • Emission rate: 0.025 per block (2455 $TRIP daily)
  • Burn: see below
  • Expansion rate: currently inflationary due to uncapped supply and emission rate
    • Note: by controlling the emission and burn rates of $TRIP, the token can be made deflationary if desired. There are, however, no such plans in place currently. Read more below.

Controlling the supply of $TRIP

No hard cap

Community members often point to the inflationary nature of $TRIP as a cause for concern. While the team certainly understand the wish for a hard cap, there's a big reason we don't expect to set one in the near future:
$TRIP's primary function is to incentivize providing liquidity to the exchange. Without block rewards, there would be much less incentive to provide liquidity.

Keeping inflation in check

The team aims to make deflation higher than emission by building deflationary mechanisms into all our Degen Haus future updates. The goal is for more $TRIP to leave circulation than the amount of $TRIP that's produced.

Reducing block emissions

By reducing the amount of $TRIP generated per block, inflation can be slowed. This has already been done once: during initial testing, the emission of $TRIP was reduced from 0.05 $TRIP per block to 0.025 $TRIP per block. However, it is not expected that this will be done very frequently for the same reason that a hard cap is undesired: provisioning of liquidity needs to be incentivized and that cannot happen if there is little or no $TRIP being emitted.

Burns

  • Manual burning at opportunistic times.
  • Automatic burns to be built into many Degen Haus products (e.g., a 10% burn of TRIP spent on future lottery tickets).

Transaction fees

  • 10% fee for any sell or buy transaction (transferring $TRIP from one wallet to another is a tax-free transaction):
    • 3% marketing and development
    • 2%: insurance
    • 1.5%: wages (weekly)
    • 2.5%: treasury (weekly)
    • 1%: burn

Distribution upon launch

  • Combined LP: 58.85%
  • Shareholders: 29.4%
  • Parties and giveaways: 11.75%

Use cases

  • Current
  • Future
    • Governance token by staking in the VTrip pools
    • Profile NFT purchases
    • Entry into trading competitions
    • Purchasing lottery tickets and entry into lotteries
    • In-game currency for upgrades in the weed-themed game: spend XTrips to upgrade your substrate for additional chance of rare strains
    • Used as payment for token partnerships, pools, farms and other services
    • To be announced

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Last modified 7mo ago
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On this page
Contract address
Chart
Tokenomics
Controlling the supply of $TRIP
No hard cap
Keeping inflation in check
Reducing block emissions
Burns
Transaction fees
Distribution upon launch
Use cases
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