🤸‍♀️Elastic Supply

Mint on Buy

Minting and Burning Tokens after Initial Seeded Pool​

A unique feature of LILY is the ability to mint more tokens even after the pool has been created and seeded.

There is no function to mint tokens, except minting to the entirely contract owned liquidity pool. LILY is only minted in bins that are consecutive to the active bin -> last bin seeded, no double seeding bins.

The differs from LOTUS and its forks because in those implementations, the token had to be 100% pre-minted and seeded into the bins. Since those tokens are placed in higher priced bins, it acts as a large "sell wall" on the liquidity books, which can hinder price discovery.

Market Cap and Liquidity figures in those tokens, are stuck near the initial MC/LP figure that is set by the token pool creator on pool creation.

In our case, minting what people buy and burning what people sell at floor price, the MC and Liquidity numbers will start low [with the price] and rise when the price rises, like traditional crypto.

For example, if the last bin seeded was bin 120 with 100 LILY, then the protocol can call the function raiseRoof(10), which will seed bins 121-130 each with 100 LILY.

Disclaimer

Onyx Lily tokens are released via a Trader Joe v2.1 Liquidity Pool. The purchase of Onyx Lily tokens does not constitute an investment contract or any form of investment advice.

Onyx Lily no guarantees or promises about the future value or performance of the token, and the value of the token may fluctuate significantly.

Also note that it might be illegal for you to own Onyx Lily depending on your jurisdiction, check with your local laws.