CredonautsStrategy.

$CREDOSTR is a TokenStrategy token for Credonauts. Every trade of it puts money into buying Credonauts off the floor.

Live since Oct 12

$CREDOSTR trades on Uniswap. Buy it, and see the Credonauts it holds, on its TokenStrategy page.

Buy $CREDOSTR Buy a Credonaut

What happened at launch.

In its first minutes the treasury collected 0.61 ETH and spent it on 35 Credonauts, paying about ten times what they actually cost. Here is why.

  1. Anyone can make the buy.The strategy never buys by itself. Anyone can call it, name an amount and a contract to send it to, and the only thing it checks is that a Credonaut arrives. It never checks what that Credonaut cost.
  2. The step is bigger than the price.The most one buy can take grows by 0.01 ETH every block, and 0.01 is the smallest step TokenWorks allows. A Credonaut costs around 0.002, so a bot could take about 0.02 ETH for one.
  3. Bots took the difference.Starting a minute and a half after launch, bots made 30 buys in six minutes. Of the 0.653 ETH the treasury spent, 0.057 reached the people who sold the Credonauts and 0.007 went to royalties and OpenSea fees. The bots kept 0.076 and paid 0.513 to block builders to get in first.
  4. The listings came out high.The treasury lists each Credonaut at 1.2x of whatever left it, so most of the 35 are listed around 0.024 ETH, far above the floor. Until they sell, no $CREDOSTR gets burned.

Nobody lost an NFT and every seller got their price. When fees come in slowly the buys are close to fair, but a sudden burst of trading can be eaten the same way again. The strategy contract can't be upgraded, so this one keeps its 0.01 step. Three simple fixes for future launches are in the thread on X.

How it works.

  1. 1A 10% fee on every trade.Buys and sells of $CREDOSTR both pay it.
  2. 28% buys Credonauts.The strategy collects it and buys Credonauts off the floor.
  3. 3It sells them for 20% more.Each Credonaut it buys goes up for sale at 20% over what it paid, by default. It sells through its own contract, not on OpenSea, and its TokenStrategy page lists them with prices.
  4. 4Sales burn $CREDOSTR.The ETH from each sale buys $CREDOSTR back and sends it to the dead address, up to 1 ETH per block.

The other 2%: 1% buys and burns $PNKSTR, the token behind TokenStrategy, and 1% goes to the creator of Credonauts.

Details.

Token
CredonautsStrategy, $CREDOSTR, on Ethereum, 1 billion in total.
Address
0xe00Fb319e70390182ec4eEBfc26501b2Fd55331eFixed in advance by the TokenStrategy factory. Any other address is not it.
Collection
0x74b5dd1ea238d3278c8dfdaa57a34681bb9e047aCredonauts, 3,333 tokens.
First blocks
Right after launch the buy fee starts at 99% and falls by one point every block, down to 10%.
Who runs it
TokenWorks owns the strategy contract and can change its settings, such as the 20% it adds when it sells. What it buys and burns depends on trading, and nothing on this page is a promise.