The PUNKS LP CLUB uses gamified NFTs as a community coordination tool to bootstrap liquidity for the $PUNKS cryptocurrency.
Our 2,000 NFTs represent two main things. First, they are an artistic symbol of community organization and pride. Second, each NFT functions as a ticket in a weekly giveback.
Beginning on the date the last PUNKS LP CLUB NFT is minted we will select 5 NFT owners every week for 20 weeks. Winners will win about 10x of their initial investment in LP tokens! The 5 NFT owners will be chosen at random using Chainlink VRF, a provably fair system.
There will be 4 types of NFTs; Courtney, GFunk, Hilary, and Frank. There will be 200 Courtneys, 400 GFunks, 600 Hilarys and 800 Franks. Courtney will have a 6x chance of winning each week, GFunk 3x, Hilary 2x and Frank 1x. Obviously the rarer the character the greater the chances for winning the giveback.
Why use SushiSwap, isn't $PUNKS traded on Uniswap?
Unlike Uniswap v3, SushiSwap provides LP tokens in the form of #SLP# (SushiSwap Liquidity Provider tokens) to SushiSwap liquidity providers. Our goal is to return %50 of the liquidity generated from this project back to the community. SushiSwap's LP token system provides us the best way to do this through our weekly givebacks.
What is an LP token?
LP tokens are ERC20 tokens given by a decentralized exchange (DEX) to liquidity providers. As ERC20 tokens they can be transferred (to giveback winners for example), traded and/or staked on other protocols. They represent both a liquidity provider's stake in the pool and the trading fees accumulated by the liquidity provider. The LP token can be redeemed for both the initial stake and fees accumulated.
How will weekly winners be chosen?
On the day the PUNKS LP Club NFT minting period finishes the givebacks will begin. From then on, each week 5 winning NFTs will be chosen using Chainlink VRF, a provably fair and independently verifiable selection tool. Winners will be able to claim their share from this website.