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Tokenomics

danger

Cryptocurrency is highly speculative and involves substantial risk. The value of cryptocurrencies can fluctuate dramatically, leading to significant potential losses. Scammers are always looking for new targets. Always do your own research for any project you encounter.

Frogecoins are created by mining a block in the Base blockchain. Every block created in the Base blockchain has 420 Frogecoins that can be mined. Frogecoins will continue to be created as fast as blocks on chain are generated.

This design makes Frogecoin inflationary, but there are two functions that can be called to create more or less Frogecoins. Anyone can call these functions so it is up to the community to decide on how fast/slow Frogecoins need to be created.

Create More Frogecoins​

warning

After sending the amount of ETH to increase the minerFee by, the minerFee is increased by the amount of sent ETH.

The increaseMinerFeeBy() function helps decrease the amount of Frogecoins being created. A higher minerFee makes it more expensive to create new Frogecoins.

frogecoin.sol
    // Function to help decrease overall supply
    function increaseMinerFeeBy() public payable {
        require(msg.value > 0);

        frogeDev.transfer(msg.value);

        minerFee = minerFee + msg.value;
    }

Create Less Frogecoins​

warning

After sending the amount of ETH to decrease the minerFee by, the minerFee is decreased by the amount of sent ETH.

The decreaseMinerFeeBy() function helps increase the amount of Frogecoins being created. A lower minerFee makes it cheaper to create new Frogecoins.

frogecoin.sol
    // Function to help increase overall supply. 0.0042 ETH is the minimum minerFee
    function decreaseMinerFeeBy() public payable {
        require((msg.value > 0) && ((minerFee - msg.value) >= 4200000000000000));

        frogeDev.transfer(msg.value);

        minerFee = minerFee - msg.value;
    }

Summary​

The purpose of these two functions is to create a "tug of war" between the miners and non-miners in the Frogecoin community. The miner role is inherently selfish because they need to get rewarded for creating new Frogecoins. The community agrees on the minerFee once it stabilizes.

Mining Frogecoin​

Anyone with a wallet that can connect to the Base Network can mine Frogecoin.

Mining Frogecoin is simple, but there are two public functions in place that control how fast or slow Frogecoins are created.

It is up to the Frogecoin community to decide a healthy minerFee for new Frogecoins to be created. The minerFee will constantly change until a minerFee is agreed upon by the community.

How to Mine Frogecoin​

The steps to mine Frogecoin can be summarized through:

  1. Downloading the Coinbase Wallet app (or MetaMask)
  2. Making sure your wallet has enough ETH for the mining fee
  3. Waiting for enough mineable blocks to be generated
  4. Finding the official Frogecoin contract address
  5. Calling the "mineFROGE" function