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BearsLoveMountains combines the following elements:

  • A collection of psychedelic NFTs created from original photos taken in Patagonia and enhanced with GLSL shaders
  • A meme coin ($BMEME)
  • A rewards distribution system
  • A game theory experiment involving strategic minting and burning

Game Theory Mechanics

The project features ERC1155 NFTs and ERC20 meme tokens, both priced dynamically via a bonding curve. The mint price increases as more tokens are minted and decreases as they are burned.

To add complexity, burning ERC1155 tokens incurs a 4.2% burn tax. This tax is directed to a rewards contract, which uses the funds to buy $BMEME tokens during each epoch. These tokens are then distributed proportionally to ERC1155 holders. Holders face a decision: retain the ERC1155 NFTs to earn rewards or burn them to lock in gains at the cost of forfeiting future rewards.

Rewards Distribution

At the end of each epoch, accumulated ETH in the rewards contract is used to purchase $BMEME tokens. These tokens are distributed proportionally to all ERC1155 holders.

Important: Rewards must be claimed within the current epoch; they are not cumulative. Any unclaimed rewards roll over into the next epoch’s pool, where they will again be distributed proportionally.