SURF3d
Surfing in three dimensions
Overview
SURF3d is a contract which maintains a bonding curve (bonding curve explanation) between SURF3d and S3D, a token exclusively emitted or burned - on buys and sells of S3D respectively - through the SURF3d contract using the SURF token.
A 15% fee is collected from S3D buys and sells, which are immediately distributed to S3D holders claimable dividend balance under the "My Info" tab here. This token holder and market participant interaction is popularly referred to as an "Hourglass" contract from an extrapolation on the term "Pyramid" - a pyramid has a fee paid to holders on entry, where an hourglass has a fee on entry and exit.
S3D holders earn volume based yield without exposing themselves to the impermanent loss (IL) possible by a SURF/ETH LP strategy (it's worth mentioning the Whirlpool provides cash-flow incentives to offset SURF/ETH LP IL).
The SURF DAO has means by which to establish a buy-volume floor through Whirlpool Manager purchases of S3D funded by the the WPM's own SURF generating holdings; the Whirlpool Manager contract has staked SURF/ETH Uni V2 LPs in the Whirlpool, and holds S3D itself.
The Whirlpool Manager made the first purchase of S3D pre-launch with 80K SURF (S3D bought by the Whirlpool Manager contract is permanently stuck in S3D)
Whirlpool Manager
The first purchase of SURF3d was made by the Whirlpool Manager contract, using 80k SURF. The Whirlpool Manager can never sell its S3D, which means the SURF used to buy them is also permanently locked, creating a floor price for S3D tokens. The SURF dividends the Whirlpool Manager receives get distributed back to the community as follows: 80% goes to the Whirlpool, 10% goes to SURF Board holders, and 10% gets burned. Also, as SURF3d and other SURF DApps burn more SURF, the total supply will go down, making SURF deflationary!
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