EGG Tokenomics
Emission rate
Per block
Metric
Emission/block (EGG)
Emission/day (EGG)
Emission
10
86,400
Burned Weekly
-6.5
-58,816
Effective Emission
<3.5*
27,584*
*Effective Emission is in fact slightly below this amount: an additional 2,456 EGG per day is diverted from the amount allocated to the lottery, and burned.
In addition to the above, a dynamic amount of EGG is also minted to the Dev address at a rate of 9.09%. This means that if 100 EGG are harvested, then 9.09 EGG is minted in addition and sent to the Dev Address.
All EGG minted to the Dev address is burned in the weekly burn and never enters circulation.
As such, we haven't included it in the above emission rate.
Distribution
Distributed to
Reward/block (% of emission)
Reward/block (total EGG)
Reward/day
Igloos and Lottery
10.62%
4.25
8,640 (approx)
of which diverted and burned
-2,656
Seafood Pools
25%
2.5
21,600 (approx)
Total Daily EGG Emission
27,584 (approx)
Other Deflationary Mechanics
The burning process is currently manual. View burn transactions here.
As well as the above, EGG is also burned in the following ways:
0.05% of every trade made on PenguinSwap V2
100% of EGG sent to the Dev address
100% of EGG performance fees from IIOs
100% of EGG spent on Profile Creation and NFT minting
100% of EGG bid during Igloo Auctions
20% of EGG spent on lottery tickets
2,456 EGG per day (historically assigned to the lottery) (The EGG for this is generated by an Igloo)
3% of every Prediction markets round is used to buy EGG for burning
2% of every production harvest in the Auto EGG Pool
2% of every NFT sale on the NFT Market is used to buy EGG for burning
Why is the EGG burn manual?
To hit the ground running, PenguinSwap launched as an MVP (minimum viable product) with the Penguin contract emitting 10 CAKE per block. For that reason, the early team didn't add additional functions such as the ability to customize the EGG minting logic. The team opted to reduce EGG emissions instead through a manual burn process by creating two pools:
Legacy Lottery Pool - burned EGG from the lottery
Burn Pool - burned EGG per block
These pools work similarly to the igloos, where the PEPE can adjust the percentage of the 10 EGG per block allocated to it after each EGG emission reduction vote.
On the day of the burn, the supply shown on the homepage might suddenly jump by several million EGG.
Don't worry - THIS EGG NEVER ACTUALLY ENTERS CIRCULATION:
This apparent jump is just because of how all the EGG that's allocated for the burn is stored during the week.
The EGG sent to both pools are harvested before completing the weekly token burns, and this makes the Total Supply shown on the site jumping by ~600K. This is because pending EGG isn’t registered in the Total Supply until it's harvested on the burn day. Once the token burn transaction is completed, the ~600K is shown in the Burned to Date.
How to Confirm EGG Supply for yourself
To confirm that the circulating EGG supply shown on the PenguinSwap homepage is correct,
Head to the EGG token contract on UltronScan and see how much EGG is held by the Burn Address. That's the total amount of EGG that's been burned (removed from circulation FOREVER, and impossible to ever retrieve).
Then, subtract this burned amount from the "Total Supply" that UltronScan shows.
This gives you the actual EGG supply.
Read more about EGG's deflationary mechanics on the next page.
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