Milo is a Farcaster-native gamified hybrid DeFi/NFT project that aims to be the de facto dog token on Base. The project combines the $MILO fungible token with 1000 generative BabyMilo NFTs with hand-drawn traits for guaranteed uniqueness.
The $MILO token has a MAXIMUM supply of 1 billion tokens.
Distribution of these tokens will happen via the following mechanisms:
$MILO tokens will be available on the Base network via an in-frame mint or by sending ETH to the smart contract address. 40% of the supply has been allocated for distribution via this mechanism. Distribution will continue until all available $MILO has been minted.
A linear pricing curve will be applied.
The official liquidity pool will be opened once 37.5 $ETH is raised (roughly around the 157.20 million $MILO mark). Ether will be added alongside $MILO in strategic tranches to ensure the preservation of the market and combat bot activity.
Any additional funds raised will be allocated to the Treasury.
While $MILO is a token, the intention is for players to come and join the community for the game, not for the speculative value of the token. Additionally, meme coins are massively multiplayer PVP games in and of themselves. Further, the game will likely launch before the LP, assuming the 37.5 $ETH is raised after the first week of TGE.
Hence, much like multiplayer games employ Anti-Cheat Software, we employ Anti-Jeet Software to ensure an even and equitable playing ground for all participants.
The Anti-Jeet mechanics will be enabled only after launching the official liquidity pool.
Time Threshold | Buy tax (%) | Sell tax (%) | Notes |
|---|---|---|---|
120 seconds | 50 | 50 | Bot protection |
1 day | 0 | 50 | Anti-Jeet |
30 days | 0 | 30 | Anti-Jeet |
31+ days | 0 | 5 | Treasury funds |
Rogue liquidity pools (i.e., pools set up external to the official Treasury) will be taxed harshly. Again, since the token will be available and transferable before the launch of the official liquidity pool, this mechanism is an effort to ensure a fair and equitable launch and ongoing game mechanics.
Official LPs can be exempt from any taxation. All others will incur a 50% buy-and-sell tax in perpetuity. Any fees collected from these rogue actors will be reallocated to the Treasury.
$MILO’s primary utility is playing the in-frame minting “game.” Users lock a minimum of 200,000 $MILO for at least one epoch (roughly one week), and each week, a provably fair selection algorithm runs to select ten (10) lucky minters to adopt a BabyMilo NFT.
Each BabyMilo NFT costs 200,000 $MILO tokens.
Regardless of how much $MILO is locked, only 200,000 $MILO will be removed from the player’s balance if they successfully adopt a BabyMilo.
BabyMilo supply is fixed at 1000 Genesis NFTs.
The first 100 BabyMilo NFTs will be distributed via an in-frame mint to those granted access to the whitelist. Whitelist members include OG members of the community and selected Farcaster-native communities, including:
Farcaster OGs
Proxy Studio
DVDOGE Holders (pre-snapshot)
Twitter comment WL
DIVI holders
FID <30k
All players, regardless of whether or not they hold a whitelist spot, must hold and lock a minimum of 200,000 $MILO tokens.
Players can adopt a BabyMilo once per epoch (roughly one week).
Players can leash more than the minimum $MILO (200,000), increasing their chances of minting. However, only 200,000 $MILO will ever be spent on the mint.
Once a player adopts a BabyMilo, the 200,000 $MILO mint fee is burned.
BabyMilo owners can stake their NFTs to earn more $MILO, effectively reducing the overall cost of minting by roughly 20% over 1.75 years.
We are on-chain maxis and will continue to produce more fun and exciting on-chain, in-frame games in which BabyMilos will participate.
