The Fees That Make The Fees.WTF Airdrop
Since the latest NFT and crypto craze, Fees.wtf has been sort of an eye opener for those interested in seeing their total cost of transacting on the Ethereum network.
You want to get depressed? https://t.co/aVl3NAd4ge— fungiblΞs Ø (@fungibles3) September 6, 2021
This is just on one wallet pic.twitter.com/FAXYyrWakA
Fees.wtf opened eyes again in December, teasing a token drop following a successful drop of $ENS, the token for the Ethereum Name Service.
Though the launch was delayed, Fees.wtf finally opened up a Discord and welcomed the public in to check their amount of $WTF. It also unveiled a new website with more details. Fees.wtf goes live at 7 p.m. ET tonight.
Fees.wtf and Its Fees; WTF?
Once a site with a single page, Fees.wtf is touting a new Pro Dashboard where users “will have metrics, charts, and useful insights into how and where you got rekt by fees.”
The site starts by charging a fee of its own: a service fee of 0.01 ETH to “register your address” and unlock your $WTF. After accepting the fee, which can be split between a referrer (by using your own referral link or Lucky Trader’s) and the team.
After unlocking, users can view their amount of $WTF and claim it — along with a “Rekt” NFT which gives users access to an upgraded site, on the claim page. The amount of $WTF earned is based on how much gas a wallet has spent, including failed transactions, up until block 13916450 (around Jan. 1, 2022).
After claiming $WTF, users can single-side stake it, stake it along with ETH in a liquidity pool or sell it. At each stop, they’ll encounter more fees.
On Jan. 14 at 7 p.m. EST, $WTF holders can start staking their $WTF to earn more $WTF. The rewards will be seeded by 20 million $WTF when the contract is deployed, then funded with 0.2 percent of a 4 percent transfer fee, which is charged every time a user stakes and unstakes their $WTF. You can stake your $WTF here.
The WTF/ETH liquidity pool will be open at the same time as staking. Holders can add liquidity on Uniswap. The LP staking rewards will be seeded by 40 million $WTF when the contract is deployed, then funded with 0.6 percent of the 4 percent transfer fee. After creating a liquidity pair, users can stake it here. For more information on using Uniswap, refer to our introductory guide!
The Rest of the Transfer Fee
Fees.wtf is also seeding a treasury with 40 million $WTF at launch. The treasury will continue to be funded by 0.2 percent of the 4 percent transfer fees. The project will also be establishing a DAO to control the treasury.
Let it Burn
If an interested buyer doesn’t have any $WTF, they can buy it or create their own referral link. They can also access the Pro Dashboard by purchasing a Fees.wtf Rekt NFT on the secondary market or buy burning 50 $WTF for a “Pro Pass.”
Those with referral links can improve their rewards share by burning $WTF at the following schedule:
- Burn 10 $WTF for 0.002 ETH service fee
- Burn 100 $WTF for 0.003 ETH service fee
- Burn 1,000 $WTF for 0.004 ETH service fee
- Burn 10,000 $WTF for 0.005 ETH service fee
There is a max supply of 1.176 billion $WTF.
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