We opened up a new position. We鈥檙e now at 20 open positions 馃コ at current prices we hold $50k of $PNKSTR in our treasury.
We鈥檙e about to open up a new position. As a reminder, once there are 20 open positions, new positions will then merge the cheapest and most expensive positions, helping to DCA. The strategy was always long term, in punks we trust!
We鈥檙e always watching the project, there just isn鈥檛 much to promote at the moment. Our strategy is contingent on crypto punks and therefore punk strategy making a comeback so when those get back near the price of our positions will we be posting about it
We had a burn and buyback yesterday! We last on-chain forever just a matter of time until punks come back
We are still monitoring the project, but are at the mercy of cryptopunks at this point. Whenever they make a meaningful come back we will be right there with them.
I believe you're looking at one liquidity pool that is outdated since most people aren't using it. If you check our website you can see accurate MC info.
So when you sweep strmog it moves the strmog to the treasury. After enough accumulates, it is converted to ETH.
When a minimum threshold is passed, that strmog is sold and the ETH from the sale is moved into the treasury. This is pretty rare because most people do not use exact out sells, but if we didn鈥檛 include this functionality then the fee could be avoided through exact out selling.
This is how ETH sweeping works, but the same thing happens for strmog - only it rarely happens. The fee is collected in ETH whenever possible, but certain transactions - like exact out sells - cannot safely have fees taken in ETH, so the fee is taken in strmog.
Strpnk and strmog have separate treasuries. That address is the strmog treasury address.
In the uniswap v4 architecture, the fees accumulate on the hook - the sweep button moves fees from the uniswap v4 hook to the treasury.
We've updated the fee accumulation target for $STRMOG to 1ETH as the community voted for a few weeks ago. We waited for the previous position to be opened before doing so. We continue to monitor the markets and devs are still around for when punks heat up next.
Sorry we didn't see it sooner! We're glad we saw it this time and could clarify. Thanks for the support feel free to DM us anytime.
Yes, we will be changing the $STRMOG fee target to 1eth as well. We will communicate this change when it happens. The sweep feature moves helps add accumulated fees to the treasury.