[ANN][IDO] Boopsy: a token that rewards holders of BOOP with more BOOP

[Boopsy]

Links

• Website
• Twitter
• Medium
• Etherscan
• Github
• Uniswap

Boopsy: a token that rewards holders of BOOP with more BOOP

• Project started August 2020 - today is our first public announcement (February 2021)
• Fully completed and deployed smart contract - no owners, admins, or governance
• Token supply to grow from 5m to 100m BOOP through daily holder payouts (1%-5%)
• Smart contract adjusts payout rate based on the number of new holders each day
• More background in our Medium announcement
• See infographic and FAQ below for more details

Launch (IDO) - February 21, 2021

• The project is complete and the Boopsy smart contract has been deployed as of February 19, 2021.
• Boopsy will be launched on Uniswap on Sunday February 21, 2021 at approximately 21:21 UTC (1:21 PM PST / 2:21 PM MST / 4:21 PM EST).
• 1m of the total 5m initial BOOP tokens will be allocated to the Boopsy team for development and liquidity costs.
• The remaining 4m BOOP will be added to the Uniswap ETH/BOOP trading pair in tranches over time.
• The initial liquidity will be approximately $100k USD (in ETH) to 1m BOOP, giving approximately $0.10 per BOOP. This gives a fully diluted market cap of $500k.
• We will slowly add more BOOP liquidity over time.

Infographic





Interface





FAQ
What is Boopsy? What are BOOPs?
Boopsy is a smart contract that awards more BOOPs to holders of BOOP until there are no more BOOPs to be given.

Why Boopsy?
It is a fun name that we think people will remember, and our intention with Boopsy is to be light-hearted and not so serious.

Do BOOPs have any value?
No.

Should I invest in BOOP?
No. Boopsy and BOOP are not investments, and we are not investment advisors. Please consult your financial advisor for financial advice.

What is the initial token supply of BOOP?
The initial supply starts at 5 million.

What is the maximum token supply of BOOP?
The supply can grow to 100 million.

How many rounds will there be?
It depends on how the payout rate adjusts to changing demand over time. For example, a 5% payout every other day would complete in just over 2 months. A 1% payment every day would go for nearly a year.

How does the payout happen?
When a new round begins all payouts and rate adjustments are applied for every holder. Anybody can tell the smart contract to "rebase" after a round completes (or use the "Start new round" button) and a new round will be started.

What happens to the price when a payout is given?
Because the ratio of BOOP to ETH changes when a payout is given, Uniswap automatically adjusts the price of BOOP lower accordingly. But because holders have more tokens, the overall total ETH value of their BOOP holdings should stay the same.

The idea is to keep the price of BOOP attractive to new holders, while rewarding holders with more and more BOOP (rather than fewer BOOP of higher value).

What happens when the number of holders increase?
All holders will receive additional BOOP between 1% and 5% of their current holdings.

The future reward rate will decrease by 1% (to a minimum of 1%).

What happens when the number of holders does not increase (or decreases)?
No reward is given, and no tokens are (ever) taken away from holders.

Instead, the future reward rate is increased by 1% (to a maximum of 5%).

Can Boopsy take tokens away from me?
No, it can only give you more.

Can Boopsy run out of tokens to give me?
Users of Boopsy are the only people that are able to create new BOOP - through payouts. The Boopsy smart contract mints all the BOOP it needs at that time. This process only ends once 100m BOOP exist.

Why is the payout based on the number of BOOP holders?
We figure it is a good proxy for demand. While it may not be perfect, we wanted to avoid relying on an external data source / oracle.

What happens when maximum supply of 100M BOOP is reached?
No more BOOP will be created going forward.

Why increasing only?
When demand is increasing, additional supply is welcomed.

When demand is decreasing, Boopsy does not want to punish holders of BOOP. Instead, the increased reward rate should help keep up demand, while the paused rewards helps demand catch up to supply.

Who controls Boopsy?
Boopsy is a completed Ethereum ERC20 smart contract - no work remains to be done or will be done. The smart contract, and its users, are the only ones in control.

Who is on the development team?
The project is already completed - we don't have or need a development team.

Is Boopsy safe and bug-free?
We have done our best to make sure Boopsy operates as we expect, but it is impossible to say there are no bugs. This is uncharted territory so there is no guarantee things will work properly. You are responsible for all your interactions with the Boopsy smart contract because we do not have any way to change or control it after it has been deployed.

Has Boopsy been tested?
The Boopsy smart contract has been tested fairly rigorously - feel free to browse the Github repository to see the automated test suite. We have also taken measures to keep the contract very simple as to avoid introducing bugs. That being said, this is a new experimental project so it is quite possible the smart contract will not behave as intended. Proceed with caution.

How are the tokens distributed?
1m of the initial tokens are allocated to the Boopsy team for development costs and providing initial liquidity.

The remaining 4m tokens will be distributed on Uniswap. We will add ETH/BOOP liquidity and BOOP itself in tranches over time so that the most number of people can have access to Boopsy as early as possible in a fair way.

Can I receive rewards while providing BOOP liquidity on Uniswap?
Yes.

Important: Liquidity providers should only use the (W)ETH/BOOP Uniswap V2 pair because this smart contract is programmed specifically to work with that pair so that token balances belonging to that pool are synchronized properly during payouts.

What is the point of Boopsy?
There is no particular goal or objective other than observing what the behavior of such a token will be.

If holders lose interest and the number of holders starts to decline, the supply will temporarily stop expanding, but at the same time entice new holders to participate due to the higher reward rate.

The earlier holders join, the bigger percentage of the total market cap they should receive in the end.

How is this different than Ampleforth or Antiample?
People love when their balances are increasing but don't like being doubly punished with negative rebases when there is less demand. We have opted to only increase balances for this reason.

[Boopsy]

$100k liquidity has been added to the ETH/BOOP pool.

Liquidity has been locked for 3 months: https://unicrypt.network/amm/uni/pair/0xF682a6eC74a27cFdbf8E6e66466d7F90d1Be683D

[lvsca]

Boopsy token holders are still very few, only 4 wallets at the moment, is it possible that people are not interested in the ongoing promotional event?
as well as creating even more unique programs to attract people's attention

[RuLanuh]

Interesting that when demand is increasing Boopsy should increase its supply and reward its holders, but when demand is decreasing Boopsy can't take tokens away from holders

[Boopsy]

Boopsy token holders are still very few, only 4 wallets at the moment, is it possible that people are not interested in the ongoing promotional event?

Coingecko and Coinpaprika listings are pending - also downturn in alts right now. Next leg up could be interesting.

as well as creating even more unique programs to attract people's attention

We are currently working with multiple agencies on some targeted marketing campaigns. Our current promotional event is a giveaway which tends to attract folks from non-crypto backgrounds in addition to crypto folks.

We took an unconventional approach with Boopsy by releasing it first then announcing/promoting afterwards, since we wanted to make sure it was a working completed product rather than a promise to complete some work in the future (complicates regulations).

[Boopsy]

Interesting that when demand is increasing Boopsy should increase its supply and reward its holders, but when demand is decreasing Boopsy can't take tokens away from holders

Yeah - in a way it seems counterintuitive, but in reality the main goal is to amplify the up-moves and soften the down-moves. Take Antiample (XAMP) for instance - it does not increase balances, only decreases. This type of deflationary behavior should on paper make coins "scarce" and therefore drive the price up, but the reality is people don't like having fewer of something. Our approach was to just pause rewards while ramping up the reward rate for when demand starts increasing again.

[Boopsy]

So when demand is decreasing instead for taking tokens away from BOOP holders, team just temporarily pause new rewards and increase the future reward rate

Basically yes - except that the smart contract handles this all itself - requires no intervention from the team. The smart contract keeps track of how many holders are gained or lost over a given day on its own.

[terciduk123]

Boopsy token holders are still very few, only 4 wallets at the moment, is it possible that people are not interested in the ongoing promotional event?
as well as creating even more unique programs to attract people's attention

Yes, to this day i see there are still 4 holders. exactly what is the use of this token? apart from getting dividends. besides, does this project have a white paper and a roadmap? I haven't found it yet, neither has any information about the team.

[Boopsy]

So as I understand when a new round begins all payouts and rate adjustments are applied for every holder automatically and there re shouldn't be delays

Correct

[Boopsy]

Boopsy token holders are still very few, only 4 wallets at the moment, is it possible that people are not interested in the ongoing promotional event?
as well as creating even more unique programs to attract people's attention

Yes, to this day i see there are still 4 holders. exactly what is the use of this token? apart from getting dividends. besides, does this project have a white paper and a roadmap? I haven't found it yet, neither has any information about the team.

There is no roadmap or team - those are expensive things applicable to incomplete projects that actually take away from holder value.

We wanted to ensure that the contract is actually a contract (we have seen other projects use "upgradable proxies" which means the contract can change whenever they like). There should be no agreement between holders and some team responsible for the contract. The contract is between holders and the contract itself.

The use of this token is similar to that of $AMPL - a token that automatically adjusts its supply based on demand. Namely, channeling market cap increases into more tokens rather than existing tokens. And importantly, avoiding the death spiral of taking away tokens when demand is decreasing, opting to pause it instead while incentivizing demand with a higher reward rate.

[Miiike]

You've been around since August 2020, as you claimed. No worth-mentioning achievement during past months? And, if there are no team, where does the fund collected on token offering goes to?

[bakasabo]

"Boopsy is a smart contract that awards more BOOPs to holders of BOOP until there are no more BOOPs to be given." - What will happen next when maximum supply of 100 millions will be reached? On the webpage it is mentioned that "no more BOOP will be created", but how then you are going to distribute rewards to holders? You will just swap BOOP to a new token and start all over again?

[Boopsy]

You've been around since August 2020, as you claimed. No worth-mentioning achievement during past months? And, if there are no team, where does the fund collected on token offering goes to?

Good questions. The main contributor (myself) is a long time engineer and long time crypto enthusiast, but first time crypto-engineer. Spent much of the time studying other tokens (mostly Ampleforth and Antiample) and playing with different token dynamics. Then decided to launch on 2/21/21T21:21 as a tribute to Satoshi. Project was mostly completed late last year.

Funds goes to mostly to funding follow up projects (BOOP holders would get upgraded to new contract most likely, and we would tweak the token dynamics as we go). I put up my own $100k for initial liquidity (locked 3 months).

[Boopsy]

"Boopsy is a smart contract that awards more BOOPs to holders of BOOP until there are no more BOOPs to be given." - What will happen next when maximum supply of 100 millions will be reached? On the webpage it is mentioned that "no more BOOP will be created", but how then you are going to distribute rewards to holders? You will just swap BOOP to a new token and start all over again?

Spot on. When 100m BOOPs are paid out, there will be no more payouts going forward. If there is demand for continued payout structure, I'd likely create a new version that allows existing holders to swap their existing BOOP in (perhaps the earlier you swap, the better rate you get?)

[Miiike]

You've been around since August 2020, as you claimed. No worth-mentioning achievement during past months? And, if there are no team, where does the fund collected on token offering goes to?

Good questions. The main contributor (myself) is a long time engineer and long time crypto enthusiast, but first time crypto-engineer. Spent much of the time studying other tokens (mostly Ampleforth and Antiample) and playing with different token dynamics. Then decided to launch on 2/21/21T21:21 as a tribute to Satoshi. Project was mostly completed late last year.

Funds goes to mostly to funding follow up projects (BOOP holders would get upgraded to new contract most likely, and we would tweak the token dynamics as we go). I put up my own $100k for initial liquidity (locked 3 months).

So to summarize, no achievement because although it's been alive for around 6 months, those early months were the idea concoction phase and the project itself was just started to be developed around two to three months ago? And funds goes to... you? To compensate your contribution of LP?

[eXtremal]

There are still not many people who want to participate in this project, the transaction activity is very minimal, is the cause another problem? such as the transaction fees are very high so that the people at this time still have not bought it or are not at all liked

[Boopsy]

You've been around since August 2020, as you claimed. No worth-mentioning achievement during past months? And, if there are no team, where does the fund collected on token offering goes to?

Good questions. The main contributor (myself) is a long time engineer and long time crypto enthusiast, but first time crypto-engineer. Spent much of the time studying other tokens (mostly Ampleforth and Antiample) and playing with different token dynamics. Then decided to launch on 2/21/21T21:21 as a tribute to Satoshi. Project was mostly completed late last year.

Funds goes to mostly to funding follow up projects (BOOP holders would get upgraded to new contract most likely, and we would tweak the token dynamics as we go). I put up my own $100k for initial liquidity (locked 3 months).

So to summarize, no achievement because although it's been alive for around 6 months, those early months were the idea concoction phase and the project itself was just started to be developed around two to three months ago? And funds goes to... you? To compensate your contribution of LP?

Built multiple versions and tweaked the contract over time. Was mostly in its final shape late last year, but continued to tweak it this year.

Yes - funds goes to me for past work, not future. When you accept funds for future work, you are at risk of being labeled a security. Therefore, the project is fully complete and there is no promise of future work, and thus cannot be classified as a security.

Now if I decide to roll those funds into future projects or marketing efforts, that would be totally my choice and not something that is promised or expected in any way (once again, that could make it viewed as a security).

[Boopsy]

There are still not many people who want to participate in this project, the transaction activity is very minimal, is the cause another problem? such as the transaction fees are very high so that the people at this time still have not bought it or are not at all liked

I suspect it is a mix of skepticism, awareness, and high gas costs. Or perhaps people don't like the project? Possible.

Our twitter following is growing which is nice. Got listed on coinpaprika today too.

Hopefully gas price comes down. I don't think that will matter if we go into an alt super cycle though - something like Boopsy has the cute mechanics to help it go up.

[eXtremal]

There are still not many people who want to participate in this project, the transaction activity is very minimal, is the cause another problem? such as the transaction fees are very high so that the people at this time still have not bought it or are not at all liked

I suspect it is a mix of skepticism, awareness, and high gas costs. Or perhaps people don't like the project? Possible.

Our twitter following is growing which is nice. Got listed on coinpaprika today too.

Hopefully gas price comes down. I don't think that will matter if we go into an alt super cycle though - something like Boopsy has the cute mechanics to help it go up.

yes hopefully that's true and when gas costs drop, enthusiasts show their action for the Boopsy project, and hopefully by being registered on coinpaprika the attractiveness of the Boopsy project is getting better and more and more people are glancing at it

[pankoim]

I was thinking why project name is Boopsy as it is a little strange lol Just read that it is a fun name that people will remember