If you have a punk, then use it to claim 100,000 Cigarettes. These can be used to buy the CEO title to become the CEO of the CryptoPunks. The CEO title comes with two perks: ability to set a "graffiti" message and the ability to increase or decrease the issuance rate of the CIG token itself. You can also set what price the CEO title will cost. Be careful, anybody else can take your CEO title by buying it. Set the price too low, and someone will take it, set it too high, and you would need to pay a higher tax. Each time the title is bought, the tokens will be burned. (This is what's known as a harberger tax)

There will be 1 billion CIG tokens minted and sent to the CryptoPunks contract for claiming. Each punk can claim 100k CIG.

The issuance will be 1000 CIG per block at the beginning, where new CIG will be issued and distributed as Liquidity Mining rewards. The CEO will be able to change it by 20% after every 14400 blocks. The result of the change must always be between 1000 and 0.0001 CIG. This means that the issuance can never be more than 1000 per block, or less than 0.0001 CIG per block.

There is no tax or fee on transfers or trading. The game element is completely optional.

No Admin keys / "team allocations" / VCs. (The Admin keys are used for deployment and burned after)

The CEO has great power and responsibility, which is the ability to control the issuance of the CIG token itself. (Provided that the changes are made within the bounds allowed by the contract.)

The second benefit is the graffiti message, where the CEO will be allowed to set with their custom message.

Finally, an NFT will be transferred to the CEO. This is a 1/1 NFT, which only the current CEO holds. Only the CEO can change the metadata of this NFT, if they want, (but cannot sell or transfer it).

New Cigarettes are made in the Cigarette Factory at every block.

Newly made cigarettes are distributed as rewards to those who stake their CIG/ETH Sushi Liquidity Pool (LP) tokens.

To get these LP tokens, you will need to Add Liquidity to the CIG/ETH pool on Sushi.

Staking is optional and is not needed to participate, it is just a way to reward liquidity providers who take on the increased risk.

1. Anybody can buy the CEO title at any time using Cigarettes. (The currency of the cryptopunks)
2. When buying the CEO title, you must nominate a punk, set the price and pre-pay the tax.
3. The CEO title can be bought from the existing CEO at any time.
4. To remain a CEO, a daily tax needs to be paid.
5. The tax is 0.1% of the price to buy the CEO title, to be charged per epoch.
6. The CEO can be removed if they fail to pay the tax. A reward of CIGs is paid to the whistleblower.
7. After Removing a CEO: A dutch auction is held, where the price will decrease 10% every half-an-epoch.
8. The price can be changed by the CEO at any time. (Once per block)
9. An epoch is 7200 blocks. (About hours, if block-time is )
10. All the Cigarettes from the sale are burned.
11. All tax is burned
12. After buying the CEO title, the old CEO will get their unspent tax deposit refunded
13. The CEO can increase or decrease the CIG farming block reward by 20% every 2nd epoch! However, note that the issuance can never be more than 1000 CIG per block, also never under 0.0001 CIG.
14. THE CEO gets to hold a NFT in their wallet. There will only ever be 1 NFT. The purpose of this NFT is so that everyone can see that they are the CEO when viewing their wallet. IMPORTANT: This NFT will be revoked once the CEO title changes. Also, the NFT cannot be transferred by the owner, the only way to transfer is for someone else to buy the CEO title! (Think of this NFT as similar to a "title belt" in boxing.)

The contract's source code has been verified on Etherscan, but it hasn't been formally audited. However, it has been informally reviewed by a bunch of other punks who are familiar with Solidity.

A lot of unit tests were prepared for the contract, however, some things such as the "Game Theory" are impossible to test, unless real incentives are used. Eg. There is no way to predict if the CEO will decrease issuance, but it's assumed that if the CEO is a large CIG holder, then the would want to decrease issuance over time.

The contract is not upgradable, and ownership is renounced shortly after deployment. This means that the contract will running autonomously without the author's intervention forever.

In the beginning, there might not be much liquidity for the token, so keep that in mind. This means the price could be very volatile as even smallest trades can significantly move the spot price.

Please exercise caution especially at the beginning.