Mint Mechanics
We know you're excited so let's dive into how it works.
Every mint transaction divides $OKB into 5 categories:
Mint to the user
Buyback & Burn from pool
ConeMinterPool
ConeBurnerPool
Community Fund
After a user calls mint, the contract gives him 1000 $CONEs. Mint price is determined by a custom hype index. The more mints there were in the past time window, the higher the price. Thus, users compete for cheaper price along with trying to peg it to dex.
Based on the amount of OKB in liquidity pool, the transaction either adds more liquidity (from user funds), or just buys back the token. In both cases the amount is burned and never accessed again.
To add a fun PvP element and give some incentives to minting, we added 15-minute ConePools. These will automatically be set aside and distributed to top minters & burners.
Community fund is the part that may be used to promote and evolve cone ecosystem. Read more in a separate section.
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