PEEPLES DONUTS

What Is $DONUT

  • $DONUT is a store-of-value token on Base
  • Mined through a continuous Dutch auction instead of proof-of-work or staking
  • Auction revenue increases $DONUT's liquidity and scarcity

How Mining Works

  • Only one active miner at a time, called the King Glazer
  • The right to mine is bought with ETH through a continuous Dutch auction:
  • - Price doubles after each purchase
  • - Then decays to 0 over one hour
  • - Anyone can purchase control of emissions at the current price

Revenue Split

  • 80% → previous King Glazer
  • 15% → treasury (Blazery)
  • 5% → provider (frontend host)

Emission Schedule

  • Starts at 4 DONUT / sec
  • Halving every 30 days
  • Tail emission: 0.01 DONUT / sec (forever)

Proof of Just-In-Time Stake

  • ETH is "staked" only while controlling emissions
  • Profit if the next purchase pays more
  • Lose if it pays less
  • Earn $DONUT the entire time you hold control

Treasury

  • Treasury ETH is used to buy and burn DONUT-WETH LP in the Blazery
  • Once sufficient liquidity is established, the Glazery can be upgraded to buy and burn DONUT directly, or governance can decide to acquire other assets or reinvest the treasury

Builder Codes

  • Anyone can host their own Donut Shop by deploying a frontend
  • Add your builder code to earn 5% of all purchases made through your shop
  • The protocol will launch with two official Donut Shops:
  • - GlazeCorp by @heesh
  • - Pinky Glazer by @bigbroc
  • - Peeples Donuts by @saltorious