🌍 Origin
It all started with the FSM (Flying Spaghetti Monster), the God of we Pastafarians, who created the universe after drinking heavily, according to The Gospel of the Flying Spaghetti Monster. If you haven’t heard about this please consider taking a glance at the website of the church. Interested and in need of religion? Just consider yourself a Pastafarian! Try us for thirty days and if you don’t like us, your God will most likely take you back.
🌋💃 The FSM Heaven
Let’s skip over all the other unimportant parts and have a look at the FSM Heaven, which features a Stripper Factory and a giant Beer Volcano. We’d love to see you dressed in His chosen garb: full Pirate regalia. We want you to enjoy Fridays as His chosen holiday.
However, there’s one thing that He forgot to tell us due to the serious drunkenness. Disclosed by an anonymous non-prophet developer, while beer from the volcano is always free, the Stripper Factory has its own economic system. So He created the FSM coin for that on the He-couldn’t-remember-the day.
🪙 Token Design
🍝 FSM coin and the FORK
There will be two kinds of tokens in Heaven, the FSM coin (ERC-20) and the FORK (ERC-721). You definitely have heard of NFTs which usually function as collectables or representation of LP positions. DeFi yield farming doesn’t sound alien, either. But what is innovative here is that we’ve combined the two scenarios and in the Stripper Factory’s economic system the FORK NFT is a virtual miner which mines FSM coins. In reverse, you can spend FSM coins to mint new FORKs.
🥧 Distribution of FSM coin
As the world was created in 0.062831853 seconds as described in the Gospel, the total supply of FSM coin was casually decided to be its reverse, 3581382600.
The distribution of FSM coin was designed to ensure 100% decentralization, so just like Bitcoin, there will be no ICOs, team allocation, pre-mining, or whatsoever. All the coins will be released through mining immediately after Genesis.
The reward for mining will be halved approximately every four years and in the first four years, half of the total supply will be mined, evenly through blocks.
🍴 The FORK and NFT mining
By saying the word FORK we literally mean the fork, with which you eat spaghetti. You may be wondering how to mine an ERC-20 token and here’s the tool: FORKs. A FORK is an ERC-721 non-fungible token (NFT) that simulates a physical miner. Anyone can stake his/her FORK to start mining FSM coins.
If you’re crypto-native you definitely know that an NFT usually contains some form of media like pictures or short videos. So does the FORK. When minting FORKs, a photo of (preferably) its owner wearing a colander is required, so the FORK is your FORK. You can use it to eat spaghetti (not really), mine FSM coins, gift it to your grandchildren, or sell it to another Pastafarian, etc.
One Ethereum address can mint or own an unlimited number of FORKs but when mining only one FORK is allowed to stake. To generate more rewards, FSM coins can also be staked along with the FORK and bound to the FORK. However, staking FSM coins alone is not a valid way of mining.
The reward for mining is determined by the following formulae. Suppose in a block A FSM coins are produced, and in the state of that block, a total number of B FORKs and C FSM coins are staked, so a Pastafarian who stakes only one FORK can get A \ 60% / B* FSM coins and one who stakes a FORK along with D FSM coins gets A \ 60% / B + A * 40% / C * D* FSM coins as the reward for that block.
Stunned? Just grab your FORK to try it yourself. It’s just 1720 FSM (well, no discounts or refund, sorry) and this price/rate will never change.
To illustrate with an image:
🗞️ Insights from the future (Governance)
One night a developer was drunk and in his dream was touched by the Noodly Appendage of the FSM, and the next day he woke up somehow with a fraction of memory from the future. It was about the infinite possibilities of FSM coin and the FORK. With a governance mechanism, the project can be shaped into something way more interesting than its original design.
Whenever you burn 1720 FSM coins to mint a FORK, 5% of the FSM coins will be reserved and temporarily kept in the contract deployer’s address. This address will provide funds for future events of the project.
👾 GameFi
The FORK, as an NFT, is inherently suitable for blockchain games and is also an important piece for the DeFi LEGO. The FSM coin can function as a form of voting power. With these tools combined, various gameplays can be designed on top of this project.
For example, FORK holders can enter a Who-is-Undercover game and when the game ends, one player is voted out and his/her corresponding FORK will be invalidated and burnt.
🖼️ FORK art
Actually, the smart contract does not force the embedded media of the FORK NFT to be related to a portrait with colanders. After the Genesis, whenever you mint a FORK, you can upload the pictures of your own and make the FORK a piece of art (and maybe auction it on NFT platforms). This gives your FORK both aesthetic and practical values.
💡 More by Pastafarians
We believe Pastafarians are a group of innovative people so by community governance we will find ways and ideas to build more exciting dapps based on the infrastructure we have now.
As the blockchain industry is developing rapidly, it’s hard to predict what’s the next big thing, but as long as this community exists, we’ll see bold, cracking, fresh, and trendy things added to our FSM Heaven in the near future.
🏁 Proof of Colander (Genesis)
So here comes the question: where is the first FORK from when there are no FSM coins to buy FORKs while earning FSM coins requires a FORK?
Before the FSM coins are available to mine, 2100 FORKs will be gifted to a selected 2100 Pastafarians who have joined the Genesis event. Candidates are asked to take a photo of them wearing a colander and this photo will be on their FORK NFT. We call this process Proof of Colander (PoC) 🤠. Then please head over to our Twitter account and find the Genesis tweet. Quote that tweet with your Ethereum address and your PoC photo to get lucky! Details of the Genesis event will be disclosed in the next post so please stay tuned.
💬 Get connected
- Read our latest posts at https://medium.com/@fsmcoin
- Get updated by following our Twitter at https://twitter.com/FSMcoin
- Join the discussion in our Telegram group at https://t.me/fsm_coin
- Interact with FSM on the official website at https://fsmcoin.org
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