$GLITCH ERC20 Tokens

Introduce the $GLITCH ERC20 tokens, their claim mechanism, and their utility in bidding for the Promptmaster title.

The GLITCH ERC20 token is designed exclusively for utility purposes within the Hunting The Glitch social experiment, and it does not carry any implied promises or guarantees of future economic value. The primary function of the $GLITCH token is to be used in auctions to win the key of the promptmaster for an upcoming epoch. By winning the auction, a user gains the ability to create the artist and define their style for that epoch.

In addition to the promptmaster auction, the community will be encouraged to propose and vote on other mechanisms that utilize the $GLITCH token to enhance the overall experience of the social experiment. Through community-driven governance, new ways to use the GLITCH token may be introduced, further increasing the token's utility and promoting active participation in the Hunting The Glitch project.

Distribution and Deflationary Mechanism

In the Hunting The Glitch social experiment, a total of 10 million $GLITCH ERC20 tokens are available. These tokens will be deflationarily released at the end of each epoch, proportionally distributed to the NFT holders of that epoch. The token distribution will follow a incremental reduction formula for each subsequent epoch. The $GLITCH tokens are held by the Glitch Treasury, which manages the distribution and ensures a fair allocation of tokens.

It is important to note that the $GLITCH token is not intended to be an investment or speculative asset. Its value is derived from its utility within the ecosystem and the ability to participate in the creative process of the virtual artists.