DDJ
Double Dip Joy (DDJ) is a fungible token (ERC20) that is designed like a loyal point to reward contribution to the Double economy. It has no premine and no cap. DDJ is a per chain based token and a new DDJ token will be launched on every chain where Double is launched.
DDJ Utility and Demand
By design, DDJ is a utility token. It is the only token that can be used to purchase or breed Double Down Club (DDC). DDC is also a utility token by design and is required to supply capital into Double and capture the benefits of doubling ROI while at the same time significantly reducing impermanent loss for capital providers. DDJ has strong protocol native demand due to the strong demand of DDC.
DDJ Issuance
DDJ will be issued based on the contribution to the Double economy, more specifically DDJ will be issued based on the fees collected by the Double protocol.
Example
Let’s use an example to explain how the DDJ issuance works in detail.
Assume a capital provider supplies 10,000 USDC for the AMM pool
The commission rate and reward ratio are designed as monetary policy parameters, which can be adjusted up and down initially only by the team, to maintain a healthy Double economy.
Claiming DDJ
DDJ can only be claimed once the withdrawal threshhold is reached
- Connect your wallet via Metamask or Wallet Connect
- Click Withdraw & Mint DDJ
- Finalize the transaction in your wallet, this will require gas for minting the tokens