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Tokenomics for Streams
Summary: Streamonomics refers to the tokenomics of streaming tokens to multiple recipients as an incentive mechanism.
Degen Dogs is pioneering the concept of Streamonomics: a set of rules that determines how the token streams are distributed amongst the owners of previously minted Dogs.
Each Streamonomics rule has 4 elements:
percentage- the percentage of proceeds to be shared under the rule
start- counting backwards from the current Dog, this specifies the first Dog to receive a stream under the rule. For example, a value of
1refers to the Dog minted previous to the current Dog.
step- the next Dog to receive a stream under the rule, counting backwards from
limit- the maximum number of Dogs to receive streams under the rule.
There are 3 Streamonomics rules that determine the distribution of the 50% that gets streamed to previously minted Dogs:
As an example of the above Streamonomics, let's consider the auction proceeds for Dog#27, for each of the above 3 rules, respectively:
- 10% would get streamed to the owner of Dog#26
- 30% would be shared equally between the owners of Dogs #22, #17, #12, #7, and #2
- 10% would get streamed to the owner of Dog#17
In all cases, the proceeds would be streamed over 365 days.
When a Dog is sold or otherwise transferred to another address, all streams are redirected to the new owner.
When a Dog owner is eligible for a new stream, it must be claimed (launched), similar to claiming yield-farming rewards.
Use the [CLAIM] to launch new streams
For the first 50 auctions, a bot automatically launched streams on behalf of Dog owners. After Dog#50, Dog owners should take the follow steps:
- 1.Go to https://degendogs.club
- 2.Connect your wallet with address owning one or more Dogs (Polygon network).
- 3.If a new stream is available, you will see a claim button, as shown above. No button is shown if there are no new streams available to claim, try again after one or more auctions complete.
- 4.Hit the [CLAIM] button, and submit the transaction. Note that this will launch all available streams to this wallet address, even if you have more than one Dog, up to a maximum of 25 per claim transaction.
Note that unclaimed streams are effectively paused. No tokens will be lost if streams are not claimed immediately, the clock only starts ticking when claimed.
When a Dog is sold or transferred, the new owner will need to claim streams, even the ones that were flowing prior to the sale/transfer.