Deflationary Mechanics

We created a liquidity pool for Guppy Gang NFTs after 8001 had been minted. Each Guppy entered into the pool provides the user with Guppy20 Tokens. Anyone with Guppy20 Tokens can redeem those tokens for any other Guppy Gang NFT in the liquidity pool. Liquidity Pools, like this one, allow players to easily trade Guppies.

To keep things interesting, we will be allowing Guppy Gang holders exclusive opportunities to burn their Guppy20 Tokens, Exchanging them for other unique items within the Phat Loot ecosystem, or even outside of the ecosystem through future collaborations. Over time this will decrease the circulating supply of Guppy Gang NFTs, making them scarcer by locking them within the liquidity pool as Guppy20 tokens in their place. Burning tokens will allow Guppy Gang NFTs to remain trapped in the liquidity pool after all tokens have been redeemed.

The opportunity to burn a Guppy will allow holders to take advantage of whitelist events that are primarily available to large holders of Guppy Gang NFTs. This means the more Guppy Gang NFTs you burn, the more likely you will have the opportunity to participate. To keep things fair, small Guppy Gang NFT holders will also be randomly selected to participate in these rare events. It will be a tough decision for holders to take advantage of these opportunities being presented, but over time the plan is to make them more and more enticing.