Welcome to all my fellow degenerate gamblers. It appears our time has come, so we made a token designed to help pump other tokens. It has the standard use case of going up in value through all the usual mechanics like lock ups, staking, and of course we force fees to be paid in our made up token as well. The function is use in an incentive system that rewards the pumping of other coins. Unipump opens up new risk profile opportunities for plebs of all stack sizes, while simultaneously removing trade fees and reducing network load.
How It Works
Pumpers create groups by staking UPP and selecting a few options. Users can deposit ETH into the pumper’s group if they like the risk profile the chosen options created. The pumper then trades with the users’ funds for a pre-determined length of time. Profitable pumpers get to keep a pre-selected percent of the winnings, as well as the group entry fees. For each 1% of user funds the pumper loses, users are given 1% of the group pot, which is made up of the Pumpers stake and half the group entry fees.
Pump Groups
While opening a Pump Group has a near zero cost, by staking UPP tokens you will incentivize people to join. This gives Pumpers access to a bigger trading stack, and lets them collect UPP token fees. Pumpers can select from pre-made token lists for their group to trade, or they can create their own. Some of the options Pumpers have to choose from when opening a group are:
- The amount of UPP they will stake in the group pot;
- The percent of the profits the they will keep;
- The amount of UPP tokens that users need to pay to the group pot to join;
- The list of UniSwap pairs they will trade;
- How many days or weeks the group will be open;
- The maximum limit of ETH the fund is willing to accept.
Pumpamentals
All use cases involve locking the token. Entry fees are locked with the group creator’s stake until the end of the round, and other users can stake for rewards risk free. Liquidity will be removed from the pool in 4 large chunks over the next 10 months. We’ll do our best to call the CreateLiquidityCrisis function mid pump to help send it flying. This will result in more stability at launch, and thinner books over time for when pump season really heats up. Team tokens will be slowly unlocked over time, removing the “unlock date” meme as a potential negative market event.
The system also allows people to profit from privileged information. Those with insider info can point to their previous success on the blockchain and charge higher fees, just like in the real markets. The burning coins meme doesn't have much effect, because the numbers are all just made up. Leaderboards will proudly display the top pumpers by both notional and percent at various time frames, weekly, monthly, and all time. Pumping competitions will be held monthly to further incentivize proper use of the system. We believe whatever helps bring out peoples competitive nature will always give better results, and of course bragging rights are super important.
Road Map
(This is the original text from the site, no longer accurate. Roadmap article coming soon. UI goes live on Friday September 4th, staking about 2 weeks later) We’re releasing a working product that will automatically launch at the end of the sale. The contracts and tests will be verified and public, so buyers can confirm everything is as described with no exit scam possible. One week after launch we will activate the staking system, with a front heavy reward schedule as a thank you to early buyers. We see this project as a way for everyone to “make it” together and enjoy the ride. We will also be using some of the funds to have a formal audit done, if we can find a reputable entity thats willing to put their name beside a product of this nature.
(Some group set ups will be very dangerous to join. Risk outline and group joining guide to be released with UI.)Our biggest concern is this becoming a vehicle for scamming as we have all seen happen with Uniswap. The front end will be delayed for up to a month after launch, and we have decided against immediately releasing a minimal UI. Of course people are free to build their own UI or interact with the contract directly. The general risk warnings and the risk factor calculation for the many unique group possibilities need to be properly communicated for the safety of less experienced users.
