Deploy On-Chain
What is DEPLOY ON-CHAIN?
DEPLOY ON-CHAIN is an advanced feature that acts as a wrapper to our Follows assets. By wrapping your Follows, you can deploy it as a new on-chain asset that is tradeable on any DEX. This means more flexibility and opportunities for you as a creator.
Key Benefits
Tradability: Your on-chain asset can be traded across various DEXs, increasing its visibility and potential value.
Transferability: Easily transfer your on-chain asset to others, enhancing its utility and reach.
Earnings: Earn 7% for each Follows purchased and an additional 2.5% of the total amount when your on-chain asset is minted.
How It Works
Creating Your On-Chain Asset
Wrap the Follows: When you decide to wrap your Follows, you're essentially creating a new on-chain asset. This process starts with zero supply.
Minting: To mint your on-chain asset, you need to mint 1 unit of it. Minting 1 unit requires buying 1 Follows internally, which also increases the supply of your on-chain asset.
Burning: You can also burn your on-chain asset. When you burn 1 unit, it internally sells 1 Follows and reduces the supply of your on-chain asset accordingly.
Supply Mechanics
Initial Supply: Initially, there is no supply. You control the minting and burning, which directly affects the supply of your on-chain asset.
Minting: Each time you mint, Follows is purchased internally, and the supply of your on-chain asset increases.
Burning: Each time you burn, Follows is sold internally, and the supply of your on-chain asset decreases.
Financial Incentives
Creator Earnings: As the creator, you earn 7% of the Follows bought within your on-chain asset. Additionally, you receive 2.5% of the total value each time your on-chain asset is minted.
Market Dynamics: The bonding curve set by the smart contract ensures that the price of Follows increases over time, potentially increasing the value of your on-chain asset.
How to Use DEPLOY ON-CHAIN
Step-by-Step Guide
Access the Feature: Navigate to the DEPLOY ON-CHAIN section in your dashboard.
Wrap Your Follows: Initiate the wrapping process to create your on-chain asset.
Set Parameters: Define the name and other parameters for your on-chain asset.
Mint Your On-Chain Asset: Start by minting units of your on-chain asset, which will involve buying Follows internally.
Trade on DEXs: Once minted, your on-chain asset can be traded on any DEX. Use this opportunity to increase its reach and value.
Manage Supply: Continuously mint or burn units to manage the supply and adapt to market conditions.
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