Cosmic Cash $CSC
Cosmic Cash is used to, directly or indirectly, mint and upgrade drills, refineries, purchase resources, refine resources, and more. 250,000 CSC was minted to the treasury on launch to kickstart protocol owned liquidity. We quickly realized this was too much and burned 200,000 CSC from the treasury. The protocol has a burning mechanism as well as a buy back mechanism for CSC. These are in place to allow for low inflation or deflation of the token.
Initial Supply
250,000 CSC was initially minted, followed by a 200,000 CSC burn. We can consider the initial supply to be 50,000 CSC owned by the protocol. This initial supply is used to pair with FTM to create liquidity on Beets.fi.
Earned CSC
Through the life of the game, users will be able to earn CSC by converting various resources and items into CSC. We have allocated 9,750,000 CSC to the game wallet. During week 1, only 108 CSC was earned in the game. It is hard to estimate how many years will be required to achieve the fully diluted supply.
Burn Mechanism
The treasury regularly receives CSC from minting and upgrading the drills. In the future, the treasury will receive CSC from other game interactions as well. Every Sunday, the protocol will count all of the received CSC and burn 75% - 90% of it. 75% early in the game and 90% as the game matures. The protocol will also post a weekly transparency report with a Google Sheet and a Medium article containing all of the relevant data. View the week 1 report here. The remaining 25-10% of CSC will be used to pair with FTM to add liquidity.
Buy Back Mechanism
The treasury will always be a net accumulator of CSC. The income allocation towards CSC buy back vary depending on price. Following is a breakdown on how much of the income will be put towards CSC buy back depending on its price.
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