📜Litepaper
The MiniPanther team will be donating part of its proceeds from running the DAO to black cat-related charities!
Abstract & Introduction
Greetings! Thank you for your interest in MiniPanther Special Purpose DAO (SPDAO). MiniPanther uses the standard DAO mechanics of staking and bonding but is configured to play out entirely in approximately 15 days:
The normal treasury withdrawal function is disabled. The creators have no direct access to treasury funds
Staking rewards are given for the first 14 days
Bonding/minting is available for the first 11 days, building the treasury (3-day vesting)
At the end of the first 14 days, the amounts in all treasury bonds besides MP-DAI LP are calculated
80% is liquidated and used for MP buybacks & burns on the untouched MP-DAI LP within the next 24 hours
20% is sent to the contract operators as an administration fee
Part of the administration proceeds will be used for black cat-related donation
If any of the 80% buyback funds remain unspent after day 15, anyone can call a function that conducts a buyback & burn using all remaining buyback funds
MP then becomes the meme token of the Fantom ecosystem
After the first 14 days, no new supply can be minted
However, stakers will still receive rewards via proportional redistribution of the 6.66% transaction tax on selling
The protocol will still own MP tokens, which could be traded for outside staking pools or other benefits
If the protocol retains the sufficient TVL, the team will pursue a Fantom infrastructural grant
Outside staking partnership with Dark Knight offers bonus rewards for staking
Current Situation
Unfortunately, the macro crypto market situation has not been the best recently. Many major coins have suffered major markdowns. We can only guess as to the factors causing this, but they may include tax season, Chinese New Year, rising interest rates, and poor stock market performance in the standard economy. But none of that even remotely describes the reason you are here.
The reason you are here is because you'd like to have a nice refuge from all of that macro bearishness. Fortunately, short-term financial games can be structured independently of macro trends, and it is possible to structure short-term incentives so that they still play out according to the rules of human psychology and game theory. As we have seen recently with veNFTs and SnowDogDAO, short-term reward structuring can take precedence over macro market trends in people's minds. And that type of structuring is what we offer with MiniPanther.
If you are here and interested in this product, you may also have some long-term investments, but you also crave something more. Maybe it's that tingly, sinking feeling you get, almost like you're falling, when you get to swap for an insanely large amount of coins. That type of exhilaration that results from your extreme greed is what attracts you to MiniPanther. In fact, you may be masturbating right now. Don't worry about that. It's fine.
Just picture 80% of the treasury going into a huge buyback after 14 days of staking. And picture yourself receiving the proceeds. This is what MiniPanther provides.
MiniPanther
MiniPanther offers a self-contained financial game that plays out completely within a 15-day period. To our knowledge, it is the first fully auto-liquidating DAO in history, and for that reason, we call it a Special Purpose DAO (SPDAO). In lieu of repeating what is written in the other sections of these documents, we provide a list of special platform features and links for you to read about them:
Massive buybacks (80% of non-LP treasury within 24 hours of emission stopping)
Meme token transition
Bonus outside staking (double staking rewards)
We feel that restricting all supply growth to a short-term period and then executing massive buybacks creates an exciting and interesting playing field for investors!
In MiniPanther, the promise of executing buybacks faithfully and transparently is ensured by the code. The administrators have no direct access to treasury funds and have no decision-making ability regarding which LP pair the buybacks are executed on. Therefore, the fairness of the game is programmed in.
We feel that the promise of a 14-day accumulation period followed by massive buybacks will excite a primal urge in people and encourage participation! But what happens after the buybacks, you ask? Well, thanks for asking. We have an answer for you.
Meme Token Transition
After the supply expansion and buybacks are complete, MP will become the meme token of the Fantom Network. The protocol has several features that are expected to help with this transition:
The transaction tax on MP selling is redistributed to stakers at rebase time. This means that there will still be MP staking rewards even after all supply expansion stops.
Because the treasury withdraw function is disabled, The MP-DAI LP provided by the team and acquired by bonding will be forever locked in the bond depository contract.
The DAO will still own MP tokens after minting stops, which can be traded for outside staking pools or used in other ways to benefit the ecosystem
The MiniPanther branding and its relationship to black cat-related charitable work could have enduring appeal
Thank you for joining us for this fun, exciting experiment in game theory and human psychology!
Regards,
Kurt, Wojak, Kyoko, Chad, Gandalf, Terrance, and the rest of the MiniPanther team
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