PAINT Token
PAINT is an ERC-20 token and is required to draw on MurAll. When you use it to draw, the tokens are burned, meaning it is a deflationary token.
PAINT is equivalent to real-life paint - you can only use as much as you have to draw on the canvas, and just like real-life paint, it cannot be used again once it is put on the canvas
Tokenomics
In each transaction made on the canvas, tokens are burned, meaning all tokens that are spent drawing to the canvas are taken out of circulation. This reduces the total supply, which increases the rarity (and in turn, the value) of the remaining tokens.
This means at the beginning of the life of MurAll when PAINT is plentiful in supply, drawing to the canvas will be incredibly cheap, which no doubt will result in lower quality artwork, where anyone and everyone will draw anything and everything on the canvas.
However as PAINT’s supply reduces, the remaining tokens will increase in value, causing token holders to be more reluctant to use their tokens to draw meaningless things. This will make MurAll a platform for those who truly want to make a statement or who truly want to make good quality art with the desire to use the tokens to draw on the canvas.
🔥 Burn rate of PAINT 🔥
PAINT is burned at a fixed rate of 0.5 PAINT per pixel.
Given that PAINT has a fixed supply of 22 020 096 000 tokens and the canvas has 2097152 pixels, this means that MurAll can be drawn over a total of 21 000 times.
Distribution
PAINT is a utility token that represents the freedom of expression. To prevent outside influence on the project, there was no pre-sale or an ICO. Instead, more than 80% of the total supply was made available for claiming.
- 9 252 634 624 PAINT (42.02% of the supply) - Claimable for known artists (8824 addresses collated from Known Origin/Rarible/SuperRare/Async Art, snapshotted 15/11/2020)
Each address is able to claim 1 048 576 PAINT — enough for 1 entire coverage of the MurAll canvas - 8 808 062 407 PAINT (40% of the supply) - Claimable for existing NFT holders (45511 addresses of ERC721 NFT hodlers with both incoming and outgoing ERC721 transactions, snapshotted 18/12/2020)
Each address is able to claim 193 537 PAINT - 660 602 880 PAINT (3% of the supply) - Founder funds. Each founder got 1% or 220,200,960.00 PAINT
- 3 298 820 096 PAINT (14.98% of the supply) - Team funds. This will be used for covering running costs, holding competitions and events, commissioning artworks and marketing.
Addresses
MurAll (and so also PAINT) is deployed on both Ethereum and Polygon
- Ethereum mainnet contract address: 0x4C6eC08CF3fc987c6C4BEB03184D335A2dFc4042
- Polygon mainnet contract address: 0x7c28F627eA3aEc8B882b51eb1935f66e5b875714
Can I stake PAINT?
No, PAINT itself is reserved for creating NFTs. However you can use PAINT to provide liquidity to the Uniswap pool.
We have also partnered with the SYNC Network to provide more incentive to provide liquidity. SYNC Network offers tradable, time-locked liquidity stored in CryptoBonds, a brand new financial asset combining DeFi with NFTs.