EPOCH Token
EPOCH is the currency of Epoch Island
Last updated
EPOCH is the currency of Epoch Island
Last updated
(aggregator of Balancer pool and other sources)
The EPOCH token contract went live on Nov 12th 2023, deployed by the EPOCH DAO per a .
The EPOCH token source code can be found .
The EPOCH token is a generic ERC20 token with the following additional functionality:
EPOCH is Ownable (has an owner)
The Epoch Island DAO multisig currently holds ownership of this token.
EPOCH supports Permit
EPOCH can be minted and burned
EPOCH tokens can only be minted by the Owner of the token
EPOCH tokens can be burned by anyone
EPOCH implements a minting cap
EPOCH Token
Mainnet
EPOCH Token
Optimism
EPOCH Token
Arbitrum
EPOCH Token
Base
to
: the address to send the minted EPOCH tokens to
amount
: how many tokens to mint
The EPOCH token implements a custom minting cap which restricts the maximum amount mintable to 10% of the total supply each week. This cap logic is part of the EpochToken.sol contract's mint() function.
Some of the reasons to introduce this cap:
This prevents an infinite mint exploit by limiting the maximum possible that can be minted at once.
This creates a maximum ceiling on total tokens that can be minted per week, ensuring no proposal can request or be passed that asks for an obscene amount of new supply minted.
This gives LPs a safety net. If there was a security breach or exploit, or if the voters choose to mint as much as possible week after week, then if the maximum mint cap was completely market sold, the LPs should in theory still have meaningful value remaining, with at least another week before more tokens could be minted to be sold. This gives LPs time to exit and prevent further losses.
For example, if the current supply is 80million tokens at the time the weekly mint cap is recalculated for the week, then no more than 8million tokens can be minted grand total over the next 7 days.
Burning tokens has no effect on the mint cap.
The current total supply is 100 million.
If the DAO minted 4 million EPOCH tokens on Jan 1st, 2024, the mint cap (10%) would only allow an additional 6 million tokens to be minted until Jan 8. The total supply is now 104 million.
Calling the burn() function will reduce the total supply by burning associated tokens.
The EPOCH token lives on and has 18 decimals. EPOCH has been bridged to other networks.
The ability to mint new tokens is controlled by , requiring a successful proposal that requests tokens to be minted.
With the method, the of the EPOCH contract can mint new EPOCH tokens. It takes as parameters:
Currently, the owner of the EPOCH contract is the EPOCH DAO multisig, which means proposals control new token minting.
The code snippet below shows the relevant code extracted from the .
With the method, any wallet that holds EPOCH tokens can destroy any amount of their EPOCH tokens, reducing the total supply by the amount permanently removed from their wallet.
Total Supply:
Circulating Supply:
Market Cap: Total Supply USD value:
Market Cap: Circulating Supply USD value: