$LONDON

CHECK OUT THE SHOPPE!

A social currency backed by the lasting impact of minting, gas price manipulation, and EIP 1559

Proof of Beauty Studios

Abstract

$LONDON is an ERC20 where the amount of tokens minted is directly tied to gas price via a bonding curve (See Figure 1). The bonding curve doesn't reward gas bidding wars; users will need to coordinate in new ways to optimize their $LONDON returns.

Any user can mint until the London hardfork since EIP 1559 radically changes the fee market mechanics. $LONDON is a fair launch project, there is no starting supply.

Blocks left until London hardfork + $LONDON minting shut off: -

$LONDON is a highly experimental project designed to show the fragility/robustness of the ETH fee markets. It is a celebration and critique of our relationship with miners and core developers. Join the movement, each $LONDON is a memento of your part in this experience.

Mint $LONDON via the bonding curve below. Max output @ 15.59 gwei.

02004006008001,0001,2001,400020406080100120140160180200$LONDON MintedGas Price (gwei)

X: 15.59 gwei

Y: 1559 $LONDON

Play $LONDON

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Blocks left to mint

$LONDON Stats
Value
Current gas price in gwei
-
Lowest gas price used in gwei
-
# of mints at 15.59 gwei
-
Total supply
-

Utility

We will be launching a NFT store called $LONDON Gift Shoppe. The $LONDON Gift Shoppe will contain generative mementos of the $LONDON project, each only redeemable with $LONDON.

$LONDON holders will be participants in the

🏙🌙💃🏻 $LONDON Night Club

The DAO will control a pool of $LONDON tokens capitalized via the proceeds from $LONDON Gift Shoppe. $LONDON Night Club will govern the use of the pool to serve community projects and fund other highly experimentive crypto-experiences.

$LONDON Night Club + $LONDON Gift Shoppe will be launched post London hardfork.

Background

Gas price is how we get our say in this crypto-future.

Can we use gas price and its mechanics to say something we never have before? How can we manipulate gas markets in ways never before?

With the stars aligning, the London hardfork + EIP 1559 provides a perfect 'meme' for this project. EIP 1559 fundamentally changes gas price mechanics, so what better thing to create a project about gas prices around? We also wanted the project to 'expire' to not needlessly clog the mempool with transactions, the hardfork became the perfect 'epxiry' date.

This is why the bonding curve (a bell curve) is centered at precisely 15.59 gwei in homage to EIP 1559 and your maximum returns is 1559 $LONDON. As people mint closer and closer to 15.59 gwei and even get it exactly, people in the future will know of the measurable impact of $LONDON without knowing about the project.

$LONDON is a meme token. It is backed by our ability to manipulate the gas market. It is backed by the number of 15.59 GWEI transactions happening during this span of time. It is backed by the rallying cries and commentary on crypto-twitter. It is backed by you. By using gas price as not just a means to an end, but also a form of communication, $LONDON minters will demonstrate where our relationship truly lies with gas fee mechanics.

Appendix: Contract Code

Minter Contract

// PARAMETERS // blockNumberUpTo: 12965000 // a: 6000000000 // b: 1 // c: 15590000000 // d: 1559 contract BellCurveParametersStorage { uint256 immutable public a; uint256 immutable public b; uint256 immutable public c; uint256 immutable public d; uint256 constant SIG_DIGITS = 3; constructor(uint256 _a, uint256 _b, uint256 _c, uint256 _d) { a = _a; b = _b; c = _c; d = _d; } function bellCurve(uint256 x) internal view returns (uint256 y) { uint256 decimals = 10 ** SIG_DIGITS; // since it is all uints, we will use a ternary to keep it positive uint256 xDiffC = x > c ? (x - c) : (c - x); // this complex set of math gets us a bell curve with the ouput in SIG_DIGITS worth of decimals return (10 ** (18 - SIG_DIGITS)) * ((d * decimals * decimals) / (decimals + (((xDiffC * decimals) / a))**(2 * b) / decimals)); } } contract GasPriceBasedMinter is BellCurveParametersStorage, Context, Ownable { ERC20Mintable public erc20; uint256 immutable public blockNumberUpTo; bytes32 constant ZERO_HASH = keccak256(0x00); constructor(uint256 _blockNumberUpTo, uint256 _a, uint256 _b, uint256 _c, uint256 _d) BellCurveParametersStorage(_a, _b, _c, _d) { blockNumberUpTo = _blockNumberUpTo; } function setErc20(address _erc20) public onlyOwner { erc20 = ERC20Mintable(_erc20); } function mintableTokenAtGasPrice(uint256 gasPrice) public view returns (uint256 amount) { amount = bellCurve(gasPrice); } fallback() external payable { require(block.number < blockNumberUpTo, "CAN'T $MINT ANYMORE"); require(keccak256(msg.data) == ZERO_HASH, "CAN'T $MINT FROM MACHINE"); require(msg.value == 0, "DON'T DONATE"); uint256 amount = mintableTokenAtGasPrice(tx.gasprice); // mint amount to _msgSender erc20.mint(_msgSender(), amount); } }

ERC20 Contract

// Standard ERC20 Contract for $LONDON interface IERC20 { function totalSupply() external view returns (uint256); function balanceOf(address account) external view returns (uint256); function transfer(address recipient, uint256 amount) external returns (bool); function allowance(address owner, address spender) external view returns (uint256); function approve(address spender, uint256 amount) external returns (bool); function transferFrom(address sender, address recipient, uint256 amount) external returns (bool); event Transfer(address indexed from, address indexed to, uint256 value); event Approval(address indexed owner, address indexed spender, uint256 value); }

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