Punk Token IBCO

The fundraising event of the PUNK token will be held through a so-called IBCO. This stands for Initial Bond Curve Offering. This is an offering where participants send funds (xDai) to a contract with a fixed supply of tokens during a set timespan. After the Offering has been completed, partipants can claim Punk tokens. The amount of tokens are proportional to the funds they have sent to the contract. The fixed supply will be devided, pro rata, amongst the participants.

The supply of $PNK tokens for the IBCO is 50.000.000;

An IBCO allows for a fair way to determine the value of a token and has the following properties:

• 🤍 Same settlement price for everyone
• 🤍 No front-running
• 🤍 No pumps & dumps by whales
• 🤍 No price manipulations
• 🤍 Price increases with every purchase
• 🤍 Collective, not competitive, contributions
• 🤍 Pooling contributions in one batch

Prerequisites

The deployment of the contract requires the Punk token contract to be deployed. The Punk token contract can be found here: https://github.com/xDaiPunks/PunkTokenContract

The contract addresses of the Punk token contract ais needed for the deployment of the contract.

The deployment variables:

• @param _duration: number of seconds the IBCO should last
• @param _startTime: unix time of the start of the IBCO
• @param _Punk: contract address of the Punk ERC20 token

Note: if you are using remix and ganache you will need to fund the contract before the claims can be executed Funding is 50.000.000

Truffle

The IBCO contract has been created using Truffle and OpenZeppelin

Deploying the token on a local environment

Install truffle and ganache-cli globally:

npm i truffle -g && npm i ganache-cli -g

Install dependencies

npm i 

Run truffle commands for example

ganche-cli

truffle build

truffle deploy

Testing the IBCO contract

Have ganache running

ganche-cli

Install dependencies

npm i

Deploy the Punk token https://github.com/xDaiPunks/PunkTokenContract

truffle migrate

In the console you will see a contract address. This contract address is needed for the deployment of the IBCO contract

Add the contract address, the current unix time and 600 seconds to the 1_initial_migration.js file.

https://github.com/xDaiPunks/PunkTokenContract/blob/main/migrations/1_initial_migration.js

The current unix time can be found using javascript as well

Math.round(new Date().getTime() / 1000)

To run the tests, run the following command

npm run test

Remix

To interact with this contract using Remix IDE (https://remix.ethereum.org/) using your local file system, you can install the remixd package.

If you want to test the claim command, please make sure the project is funded by transferrring funds from a deployed Token contract (https://github.com/xDaiPunks/PunkTokenContract)

npm install -g @remix-project/remixd

After install you can start remixd by issuing the followinng command:

remixd -s ~/YOUR-CONTRACT-DIRECTORY --remix-ide https://remix.ethereum.org/

Then in the Remix IDE choose 'localhost' as workspace and connect. You can also use your local ganache instance with Remix IDE. To do so, select 'Web3 Provider' for the environment. Make sure to have ganache-cli running