Coupon-Clipper

A cheaper version of Austin Williams' Coupon Clipper. Easy-access UI is available here.

Disclaimer: This code is not unaudited. Interact with it at your own risk, and do not send tokens to it. DeFi can be dangerous; exercise discretion.

Summary

The Empty Set Dollar protocol incentivizes users to burn their tokens by offering coupons when ESD is worth less than $1. If the price rises above $1, coupons can be redeemed for extra ESD. Unfortunately, coupons expire after ~30 days, and bots have an advantage in the first-come-first-serve system. This contract lets you put the bots to work!

A previous version of this contract, by Austin Williams takes a 1% house fee and transfers funds to the house after redeeming any amount of coupons. To save on gas, we've updated it so that a separate function transfers accumulated fees to the house.

We've set the initial house fee to 50% of each offer. Every time a bot generates 100000ESD for the house, the house's cut will be halved for that bot's transactions. This results in a more fair playing field for the bots, and rewards long-time players for their commitment.

An example: If Bot A has earned 150000ESD for the house, the house cut drops to 50/2**1 = 25% of each offer. If Bot B has earned 300001ESD for the house, the house cut drops to 50/2**3 = 12.5% of each offer. Due to rounding, the house cut eventually goes to zero.

Pro tip: You can use both versions (this and Austin William's) simultaneously to increase the odds that a bot will redeem your coupons. You'll only pay the tip to the one that succeeds.

Deployed Contract

CouponClipper is deployed to 0xebc01361942167D6d312D0f12C11fa2ac5a06D81 and the code is verified on Etherscan.

How does it work?

Users can interact with the contract directly or go to emptyset.coupons (currently under construction) to configure their tip and approve the contract.

This will emit a CouponApproval event for which bots can listen. When coupons become available, bots can call a variety of functions to redeem the coupons of one or more users. The users' new ESD will magically appear in their account, and the bot receives (at minimum) a tip for their effort. Users can increase this tip size via the setOffer function.

For more information, we recommend checking out the original repository. If you like this code, Austin is the one to thank.