GAS (Ignis Token)
Ignis (Ticker GAS) is the Gas token of Ouronet. It is a DPTF Ouronet Token, designed to serve as a "Ultra-Liquid" gas and trading Token. All activities on Ouronet must be paid for in GAS.
Statistics
Ignis (GAS) is generated from Ouroboros, and can be converted back to Ouroboros
Maximum Theoretical Supply (MTS) is unlimited.
There is no specific Daily Emission of Ignis, however Ignis collected as Gas is distributed in a specific manner to specific Targets
Functionality
Ignis as a DPTF Token, is set up with a VTT Fee, and a minimum Transfer Amount of 1000.0 Units. This means, for transferring Ignis between Ouronet Accounts, amounts higher than or equal to 1000 are required, and these amounts are subjects to a Volumetric Transaction Tax.
The VTT collected acts like collected GAS, for its distribution see below.
Ignis collected as gas is not subjected to the VTT Fee and Minimum Transfer Amount with which it is being set up, and there is a 1% reduction in the needed GAS to be collected for each Minor Elite Account Tier, starting with Tier 1.1. For example a Tier 2.3 provides a 10% in gas costs.
The Collected Ignis will be distributed starting with the deployment of Stage Two, and it will be split as follows:
Coding Division Split 10%
Ouronet Custodians 70%
Ouroboros Pie 20% (Treasury|Shareholders|Ouroboros-Liq-Farming|Autostaking|Subsidiary-Staking 2.5%|2.5%|5%|5%|5%)
Generating Ignis - Ouroboros Sublimation
When generating Ignis from Ouroboros, the following Rules apply:
A minimum of 1 Ouroboros is required to generate Ignis
There is a 1% fee for Sublimation. This fee increases Auryndex (ATS-Pair Index), contributing to an increased Auryn valuation.
The Amount of IGNIS generated is based on the price of Ouroboros in $. This Price is calculated through the weighted SWP-Pair W|LKD-OURO-WKD, where Ouroboros is paired with Wrapped-Kadena (WKD) and Liquid-Kadena(LKD). The amount of Tokens in this pool, determines the value in WKD for 1 OURO, and by sampling the price of KDA via Dia Oracles, the Price in $ for Ouroboros can be computed.
If the Price of Ouroboros is less than 1.00$, 1.00$ is used as the conversion price. With a 1.00$ Price for Ouroboros, and a 1% Sublimation fee, 99 Ignis (GAS) can be generated. Therefore if Ouroboros Price is below 1.00$, Ignis is cheaper that 1 cent.
Regenerating Ouroboros - Ignis Compression
When regenerating Ouroboros from Ignis, the following Rules apply:
A minimum of 1 Ignis is required to regenerate Ouroboros
There is a 1.5% fee for Compression. This fee increases Auryndex (ATS-Pair Index), contributing to an increased Auryn valuation.
Similar to Sublimation the price is determined via the weighted SWP-Pair W|LKD-OURO-WKD, while the minimum Price is also set at 1.00$
Smart Ouronet Account Interaction
When interacting with Smart Ouronet Account, these retain 25% of the Gas paid when interacting with them. Said Ignis can be collected when at least 1000 Units have been collected, as it follows the Transfer Rules the Token is set up with.
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