FLUX: Solving Monetary Inflation with Ethereum Smart Contracts — How we beat inflation of a G20 country in just 226 days.
FLUX audited token reaches an all-time low inflation of 32.83% just 7 months after release. Our unique on-chain supply/demand balance has been achieved with 50% of all FLUX tokens currently available in Uniswap FLUX/ETH pool.
Argentina, a G20 country had 36.10% inflation rate in December 2020. Due to 69.46% of all FLUX tokens being destroyed from circulation our inflation rate continues to drop every month as we head towards 0% inflation.
Currently every 1 FLUX in the FLUX / ETH Uniswap pool is backed by 4.6 destroyed FLUX. That means we’ve destroyed over $200,000 of FLUX with a market cap of only $89,000.
How is this possible?
With recent Ethereum developments and growth of liquidity pools like Uniswap and Balancer it is now possible to create completely new DeFi use cases.
At Datamine we’ve tried to tackle the most difficult problem of money: Inflation. Normally central banks control inflation & deflation by controlling the money supply.
In Datamine Ecosystem the central bank is replaced by a decentralized group of individuals. Datamine tokens can be “locked-in” into an audited Ethereum smart contract that is both immutable and ownerless (This means no one can touch your funds).
By locking-in Datamine (DAM) tokens through our decentralized portal you are rewarded with FLUX tokens every 15 seconds. FLUX tokens can be minted at any time and are designed to be sold (or added as liquidity to the Uniswap pool). This linear minting process guarantees linear growth of our Uniswap pool and rewards Datamine (DAM) lock-in users for keeping their DAM locked-in.
APY% calculator for FLUX available on our decentralized community page.
In the future, simply holding FLUX tokens will be a good way to combat monetary inflation.
On-chain supply/demand automatically self-regulates Datamine Ecosystem
The price of FLUX is always controlled by our unique on-chain supply/demand. A sudden spike in price would lead to more FLUX being minted and sold to the Uniswap pool.
A drop in price would make buying & burning FLUX a more lucrative option as burning FLUX increases rate of FLUX production for Datamine (DAM) lock-in holders.
Currently the demand for FLUX is low so the ecosystem self-regulates the demand by having 69% of all FLUX tokens burned while keeping the Uniswap pool at 50% supply.
A sudden spike in Datamine (DAM) tokens will result in lowering of lock-in % where existing FLUX minters will unlock & sell their DAM taking advantage of increased DAM demand.
Uniswap Liquidity Pool acts as M0 money supply
FLUX can be used to convert any liquidity pool into an “incentivized liquidity pool” due to guaranteed transactional throughput. Before minting FLUX you have an option to perform a “Burn Cycle” where you can purchase FLUX from the pool, mint FLUX and re-sell the minted FLUX which provides incentives for providing liquidity.
77.17% of all Datamine tokens are locked-in to mint FLUX (Up from 71% 3 months ago) leaving the remaining DAM tokens very scarce. This creates a high-volatility DAM/ETH Uniswap pool.
We’ve tripled our Uniswap FLUX /ETH pool liquidity in 3 months. Impermanent loss will continue to drop as the pool grows in size due to linear minting of FLUX tokens.
FLUX is “Fine Wine” and gets better with time
FLUX is down to 32.83% inflation in just 7 months. Back in June 29th we started with an astounding 883% inflation and it took the market many months to find a supply/demand equilibrium.
We’re heading towards 0% inflation and might even see negative inflation which the ecosystem might deem necessary in times of low on-chain demand.
We’ve got real-time metrics to prove our use case so all of these numbers are available for your viewing pleasure through our decentralized dashboard: https://datamine-crypto.github.io/realtime-decentralized-dashboard/
You can now connect to our decentralized dashboard and interact with our audited Ethereum smart contracts from your phone using WalletConnect option.
MetaMask and Brave browser are still the preferred ways to connect, be sure to check out our instant decentralized help available on our dashboard.
Datamine Network Decentralized Dashboard:
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FLUX & DAM Uniswap: