GEN 2 MINT - HOW TO MINT
Join the CEO as he explains the pathways for minting
Good mnueenis my budding duelists,
Today the CEO will be going through our duel mint mechanics and how you can get your clammy little hands on your very own Gen 2. Whilst this is quite a lengthy explainer, the UI itself should be self-explanatory.
Let’s do a quick rundown of the routes you can take to mint a Gen 2 then a proper explainer for how duel minting will work.
Rundown of Gen 2 Mint
As you may have seen in our recent Tweet, the Gen 2 Mint will begin on 27 September 2022. The first 2 weeks will be open ONLY to the wallets that we have whitelisted in #secret-channel - you can double-check your Whitelist status here. Starting 10 October 2022 we will open the mint to the public for any Diamond Pepes we may have remaining.
The total number available to mint will be 1,111 units.
There are 3 routes you can take to mint a Gen 2:
1. Standard Mint: Pay 0.88 ETH and mint a Gen 2 directly
2. Duel Mint: Accrue 0.8 ETH Mint Credits through duels and mint a free Gen 2
3. Standard + Duel Mint: Combine 0.88 worth of ETH and Mint Credits and mint a Gen 2 directly
Truly incredible flow diagram by yours truly - coloured boxes show mint routes
We will first be taking a look at how to Standard Mint and then go over Duel Minting which will be powered using the Gen 2 Dueling engine. At the end we will also show how you can use Mint Credits from Duel Minting on a Standard Mint.
STANDARD MINT EXPLAINED
The Standard Mint process is super straight forward.
Firstly, make sure you are connected to Arbitrum and go to the Mint Site.
Click on the mint button.
Choose how many Diamond Pepes you want to Standard Mint at 0.88 ETH per Pepe.
Congratulations, you have successfully minted Diamond Pepe(s) AND passed an IQ test.
DUEL MINT EXPLAINED
To understand what a Duel Mint is, we first need to know what dueling is.
Dueling is a simple commit-reveal game that pits two players against each other. At its most basic level, dueling can be broken down into:
1. Open Duel: Player 1 selects 5 moves, selects a wager amount, and initiates a duel.
2. Challenge Duel: Player 2 challenges Player 1’s open duel, selects 5 moves, matches wager amounts, and issues a challenge.
3. Settlement: Players moves are summed up and whoever deals more damage wins and receives the loser’s wager. In a draw both players' wagers are fully returned.
The moves a player can choose from are:
Each move can be used twice per duel except Special which can only be used once
Punch, kick, special, block, punch - it’s really just that simple.
Duel Mint Process
Now what is the relationship between Dueling and Minting, I hear you ask?
An incredible question.
When you duel a player, there are two possible outcomes:
1. You win and receive the loser’s wager
2. You lose and pay your wager to the winner
During the duel mint, we will be applying an 80% fee on the loser’s wager. This means that if you win a duel with a 1 ETH wager, you will receive 0.2 ETH from the loser and your own 1 ETH wager back amounting to a total of 1.2 ETH. The remaining 0.8 ETH from the loser’s wager will go to the Diamond Pepes Treasury.
The loser will be compensated 1:1 by ETH Mint Credits for each ETH that goes to the Diamond Pepes Treasury. These credits can then be redeemed to mint a Gen 2 for free or be used to offset the cost of a Standard Mint as covered in the introduction.
The Duel Mint page will have a counter for your Mint Credits
“How does this work sir, my feeble mind is not good at mathematics!”
Let’s pretend we have 3 different scenarios where a player has varying degrees of success during 1 ETH Wager Duel mints:
As you can see, the maximum cost of duel minting is 1 ETH if you only have losses. If you have a mix of wins with losses, however, the cost of duel minting decreases with every win you have.
This means in order to minimize your cost of minting, you should still be aiming to win as many duels as possible!
MINT CREDITS TO OFFSET STANDARD MINT COST
Now let’s pretend you are in a scenario where you have accrued Mint Credits but do not want to continue dueling. Fret not, my pretty pet - these Mint Credits can be used to offset the standard cost of 0.88 ETH at a 1:1 rate.
This button can be found at the top of the screen above ‘Create Duel’.
Clicking this button will allow you to mint directly by combining your Mint Credits and ETH from your wallet.
If you have 0 Mint Credits, you can pay 0.88 ETH to mint a Gen 2 (0 Mint Credits + 0.88 ETH = 0.88 Total)
If you have 0.4 Mint Credits, you can pay 0.48 ETH to mint a Gen 2 (0.4 Mint Credits + 0.48 ETH = 0.88 Total).
If you have 0.6 Mint Credits, you can pay 0.28 ETH to mint a Gen 2 (0.6 Mint Credits + 0.28 ETH = 0.88 Total).
If you have 0.8 Mint Credits, just can mint a Gen 2 directly at the discounted price of 0.8 Mint Credits.
Super simple stuff.
Wow. The Nut Meister has done it again with another red hot banger. God he's (I'm) good aha.
We look forward to welcoming each and every one of our new Gen 2 holders that will joined by the troop of Pepes to be sent to our pledgors due to their commitment to the cause from our Gen 2 Pledge event.
All the best on the battle fields.
CEO of Diamond Pepes
CA CFA MBA MD MD PhD LLM
Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — all in a passive manner. Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to our own innovative and state-of-the-art option pricing model that replicates volatility smiles.
Follow our official social media accounts and visit our website to stay up to date with everything Dopex.
Be careful of fake Telegram groups, Discord servers and Twitter accounts trying to impersonate Dopex.