@heesh
This mechanism is actually the same one we are using at GlazeCorp
In fact, GlazeCorp was almost a way to test the mechanism and make sure it is sound.
But instead of buying an NFT in the auction, on GlazeCorp you buy the mining rights for $DONUT. All $DONUT emissions get streamed to you and you are the sole $DONUT miner in the market.
The auction revenue gets used to buy DONUT-ETH LPs and burn them and eventually buy-burn $DONUT itself, automatically and permissionlessly, no one ever touches the revenue besides autonomous smart contracts
Subtly dropping my 2nd miniapp right here! https://farcaster.xyz/miniapps/fOIgVq2bFKru/glazecorp
will be bidding in the qrcoin auction for it
5 replies
5 recasts
27 reactions