The yield-bearing cryptocurrency
DAM has a fixed supply. Lock it to mint FLUX at each block, and unlock it in full at any time. The contracts are open source and immutable: no owner, no admin key and no upgrade path.
Audits
Four tokens in a chain
DAM
Ethereum (L1)
The base of the chain. DAM is the only token with a fixed supply: no more DAM can be made. Lock DAM to mint FLUX.
FLUX
Ethereum and Arbitrum
Minted by locking DAM, with no fixed supply. A burn of FLUX destroys it. On Arbitrum, lock FLUX to mint ArbiFLUX.
ArbiFLUX
Arbitrum (L2)
Minted by locking FLUX on Arbitrum, where each transaction costs less in network fees. Lock ArbiFLUX to mint LOCK.
LOCK
Arbitrum (L2)
Lockquidity. Minted by locking ArbiFLUX. A burn of LOCK does not destroy it: the tokens go to a vault that adds them to a permanent liquidity pool.
How minting is calculated
The same formula runs at all three stages: DAM to FLUX, FLUX to ArbiFLUX, and ArbiFLUX to LOCK. An address with locked tokens is a validator.
reward = locked × blocks × timeMultiplier × burnMultiplier ÷ 10^8
- The time multiplier goes from 1x to 3x while the tokens stay locked. Unlocking resets it.
- The burn multiplier goes up to 10x. A validator raises it by burning tokens. It compares what the validator burned with the network average, so it can fall when other validators burn more.
- Together, the two multipliers give up to 30 times the base rate.
Where the yield comes from
The tokens that validators mint are new supply. They are not lent, borrowed or transferred from anybody. A holder who does not lock tokens owns a smaller share of the supply over time. This is dilution.
What works against dilution
- The rate of new supply falls over time. New supply is in proportion to what is locked, but the total supply keeps growing, so the percentage added each year goes down. This is arithmetic, not a promise.
- Burns work against new supply. Each burn of FLUX or ArbiFLUX removes tokens. Each burn of LOCK puts tokens in the permanent pool.
- Anyone can lock tokens and mint. There is no minimum, no approval and no gatekeeper.
This does not remove dilution. By design, a holder who does not lock tokens owns a smaller share of the supply over time.
LOCK and permanent liquidity
A burn of FLUX or ArbiFLUX destroys the tokens, and the supply goes down. LOCK works in a different way.
A burn of LOCK sends the tokens to a vault. Anyone can call the sweep function of the vault. It sells half of the tokens for ETH, adds both halves to a Uniswap V2 pool, and keeps the pool tokens in the contract.
The contract has no function to withdraw them. Nobody can remove this liquidity, including the people who wrote the contract.
This does not set a floor under the price. The pool holds ETH, so the value of the liquidity moves with ETH. What stays permanent is the depth of the market.
What the code guarantees, and what it does not
Guaranteed by the code
A validator can unlock its locked tokens in full at any time. Nobody can turn this off.
The contracts have no owner, no admin key, no pause function and no upgrade path. Nobody can seize or freeze holdings.
The rules cannot change. There is no board, no vote and no upgrade.
Every lock, unlock, mint and burn is public on the chain.
Not guaranteed
Price. There is no peg, no reserve and no buyer of last resort.
A return. The formula is fixed, but the result depends on the choices of each validator and on what other validators do.
Protection. There is no insurance and no regulator. If you make a mistake, nobody can reverse it.
Software with no bugs. The token contracts are audited, but an audit does not prove that there are no bugs.
Permanence has a cost. The timing constants were written for the block rate of Ethereum at launch. Ethereum now makes blocks faster, so every schedule runs about 25% faster than designed. Nobody can correct this. It has the same effect on every participant.
Contracts
| Contract | Chain | Address |
|---|---|---|
| DAM token | Ethereum (L1) | 0xF80D589b3Dbe130c270a69F1a69D050f268786Df |
| FLUX token | Ethereum (L1) | 0x469eDA64aEd3A3Ad6f868c44564291aA415cB1d9 |
| FLUX token (bridged) | Arbitrum (L2) | 0xF80D589b3Dbe130c270a69F1a69D050f268786Df |
| ArbiFLUX token | Arbitrum (L2) | 0x64081252c497FCfeC247a664e9D10Ca8eD71b276 |
| LOCK token | Arbitrum (L2) | 0x454F676D44DF315EEf9B5425178d5a8B524CEa03 |
| Locked liquidity holder | Arbitrum (L2) | 0xE05E43eE517A6D2862f91Be27315318A8E991FCc |
| Datamine Market | Arbitrum (L2) | 0xe948c8417DD2f8e7dfc88ac3F50b3F89Db7c29Dd |
| HODL Clicker: Rush | Arbitrum (L2) | 0x012C2a83f854Bd016074195d06611785eF8D27E0 |
| Batch Minter | Arbitrum (L2) | 0x352c8A363eF1C9e730b8A2EE14Bab90545fd189C |
One address names two tokens: 0xF80D589b3Dbe130c270a69F1a69D050f268786Df is DAM on Ethereum and FLUX on Arbitrum. Always check which chain you are on.
Nothing on this site is investment advice. The tokens are worth what someone will pay for them, and they can lose value. A transaction on a public chain cannot be reversed. Read the contracts and the audits before you take part.