BAMK•OF•NAKAMOTO•DOLLAR
The Runes ticker BAMK•OF•NAKAMOTO•DOLLAR was etched on April 21st 2024 with a max supply of 21,000,000,000 (21 billion)
1,311,625,000 (6.25%) of the supply was offered as a public free mint to degens paying attention. It took ~6 days and around $150,000 in miner fees to mint out.
BAMK Season 1 Incentives
An additional 1,311,625,000 (6.25%) of the supply has been offered as incentives to all NUSD holders. Simply buy NUSD and hold in your wallet to begin accruing BAMK tokens. Every block between 844,492 and 886,454 - a total of 41,972 blocks will accrue 31,250 BAMK per block, distributed pro-rata to your NUSD holdings divided by the total NUSD TVL at that block height.
A dashboard to show BAMK accrued per address is in the works.
Allocation: 31,250 BAMK per block, pro-rata, user_holdings/NUSD_TVL Duration: 41,972 blocks (~291 days) Start block: 844,492* End block: 886,454 Vesting: 31,250 BAMK per block after block 886,454, for the next 41,972 blocks
*Block 844,492 was when the first purchase of NUSD occurred
Example:
At block 846,492, Alice buys 5,000 NUSD. At this block height, the current TVL is $704,900 NUSD. So her pro-rata share is 5,000/704,900 = 0.709%
This means for every block she holds her 5,000 NUSD, her address will accrue 0.709%*31,250 = 221 BAMK tokens.
Alice decides to hold NUSD until block 856,492 - a total of 10,000 blocks or 69 days. She then sells NUSD back to BTC.
Her BAMK tokens will start to vest at block 888,464 (block 846,492 + 41,972 = 888,464), at the same rate she was allocated the BAMK. So at block 888,465 for example, she will receive 221 BAMK tokens. It will take until block height 898,464 before Alice receives her full allocation of BAMK rewards.
So the earlier you own NUSD the earlier you will start to receive BAMK.
The APY figure shown on https://www.bamk.fi/ is calculated by using the current BAMK token price - the amount will fluctuate depending on current NUSD TVL and current BAMK price.
Dotswap Liquidity Pool BAMK Incentives
Since block 849,215, an additional 25million BAMK has been allocated to the NUSD/BTC liquidity pool on Dotswap as rewards.
Allocation: 5,000 BAMK per block Duration: 5,000 blocks (~34 days) Start block: 849,215 End block: 854,215 Vesting: Same as BAMK Season 1 Incentives
Liquidity providers will still qualify for the existing Season 1 rewards for simply holding NUSD. The leaderboard will be updated to reflect this soon.
Note: in order to add liquidity to Dotswap's AMM pool you need equal amounts of NUSD and BTC.
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