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Elysium testnet. Tokens have no value.

DanakeDanake

Live on Elysium testnetWallet only, no sign-up

Your dead bag is worth something.

Projects pay holders of dead tokens to burn their bags and join them, priced on what each wallet actually lost.

Open the appRead the docs
Danake: a marble face on a stepped wooden panel, a green pixel coin on her mouth
No. 001

Danake

Marble on a stepped wooden panel, one coin for the ferryman. She follows you. Take the coin.

Live figures

Open Fares
0
Budget on offer
0
Bags burned
0
Wallets crossed
0
01The problem

Most tokens die. The wallets behind them do not.

  1. Most tokens die.

    On a launchpad chain almost every token goes to zero within days. Holders are left with a bag nobody will buy.

    Statement 1

  2. A dead bag is worthless. The wallet behind it is not.

    A wallet that paid for a token and held it through the fall is exactly the holder a living project wants.

    Statement 2

  3. Airdrops by balance pay the snipers.

    Snapshot airdrops reward whoever holds the most: the bots and bundles that bought cheapest, not the people who lost.

    Statement 3
02Price your bag

Paid for, minus what it is worth.

A Fare pays for proven loss, not for balance. Try your own numbers: the example below is the late buyer from the table further down.
The rule
proven loss
= paid − value now
rate
= min(max rate, budget ÷ all losses)
you receive
= proven loss × rate

Value is what the token's own curve would pay for the bag at the snapshot. Tokens you received by transfer cost zero, so they never carry a loss.

Loss calculator
HYPE

What you paid for the tokens you still hold.

HYPE
per HYPE lost

Set by the Fare's payer, paid in their token.

Proven loss1.15 HYPE
You would receive5,750

Paid in the payer's token, streamed over the Fare's vesting period.

03How it works

Four words.

A market where any project can pay the holders of a dead token to burn their bag and join it, priced on what each wallet actually lost.
  1. 01

    Roll

    The loss ledger of one dead token at one snapshot: for each wallet, what it paid in HYPE for the tokens it still holds, minus what they are worth. Tokens received by transfer cost zero.

  2. 02

    Fare

    An offer. A payer deposits a budget in any ERC-20 or WHYPE and sets the rules: target, snapshot, max rate per HYPE lost, cap per wallet, vesting, optional Stay clause.

  3. 03

    Crossing

    A holder burns the bag during the window. At close the budget is shared pro rata to proven losses, never above the max rate. Surplus returns to the payer. Payment streams over the vesting.

  4. 04

    Stay

    Optional. The stream continues only while the wallet still holds what it has already received. If it sold, the rest returns to the payer.

How a Fare worksThe Roll of proven losses sits above the Fare. A payer deposits a budget into the Fare. A holder burns a dead bag into the Fare. At settlement the holder is paid over the vesting period, surplus returns to the payer, and 3% of the budget goes to the fee vault.RollPROVEN LOSS PER WALLETPayerBUDGET AND RULESFareOFFER ON A DEAD TOKENHolderBURNS THE DEAD BAGFee vault3% OF THE BUDGETMerkle rootbudgetburn + proofstream over vestingsurplus
04An example

$CAT opens a Fare on $DOG.

1,500,000 $CAT, 30-day vesting. Burners total 300 HYPE of proven loss, so the rate is 5,000 $CAT per HYPE lost.
$CAT opens a Fare on $DOG: 1,500,000 $CAT, 30-day vesting. Burners total 300 HYPE of proven loss, so the rate is 5,000 $CAT per HYPE lost.
WalletBag heldPaid for itBag valueProven lossReceivesShare in a snapshot airdrop
Lina, late buyer6M $DOG1.2 HYPE0.05 HYPE1.15 HYPE5,750 $CAT1x
Block-1 sniper50M $DOG0.3 HYPE0.42 HYPE008.3x

Round numbers. The 3% protocol fee is left out of the example.

The late buyer who lost money is paid. The sniper who made money is not, though a snapshot airdrop would have given it 8.3 times more.

05Who opens a Fare

Anyone who wants holders that stay.

  • A live token courting a dead rival's community

    Offer your token to the people who believed in the one that died.

  • A team relaunching as v2

    Let holders of the old token cross into the new one, priced on what they lost, not on what bots hold.

  • A community takeover

    Rebuild around the wallets that actually paid, with the Stay clause to keep them.

  • A launchpad or app courting traders rugged elsewhere

    Pay proven losers to try your venue instead of buying attention from farmers.

06Why it cannot be farmed

Every shortcut has a door shut on it.

Buy the dead token after the Fare is announced
The snapshot is in the past. Buys after it do not exist in the Roll.
Receive tokens from another wallet
Received tokens cost zero, so they carry no loss.
Sell, then claim
Every outflow reduces the cost basis in proportion. With the Stay clause, selling the payout ends the stream.
Claim twice
One crossing per wallet per Fare, and a loss counted once cannot be counted again with the same or an earlier snapshot.
Snipe a cheap, large bag
Loss is what you paid minus what the bag is worth, not how much you hold. A cheap bag has little or no loss.
Wash-trade a fake loss between two wallets
A snapshot in the past, the per-wallet cap and a minimum purchase age reduce it. They do not eliminate it.

The full attack table, in the docs

07$DANAKE

The coin for the ferryman.

Once it exists, 3% of every Fare budget buys $DANAKE on the market. Half is burned. Half funds the Ferry: one free crossing per week, to a dead token chosen by stakers.

A fair launch on an Elysium launchpad (Clover), with no presale and no private allocation. Supply, allocation and date: to be announced on @danakefun.

Status

$DANAKE is not launched. No CA.

Any token using the name today is not ours.

Follow @danakefun
08Questions

Asked often.

What is a Fare?
A voluntary offer made by a third party, usually a living project. It deposits a budget and sets the rules: which dead token, which snapshot, the max rate per HYPE lost, a cap per wallet, a vesting period and, optionally, the Stay clause. Holders of the dead token who burn their bag during the window share the budget pro rata to their proven loss.
Why would a project pay me?
To get real holders. A wallet that paid for a token and held it through the fall is a committed buyer. An airdrop by balance rewards snipers and bundles; a Fare pays for proven loss instead.
How is my loss proven?
From public logs only. The Roll replays the dead token's transfers and its curve's trades up to the snapshot: what each wallet paid in HYPE for the tokens it still holds, minus what they are worth. Anyone can recompute it, and every Fare page shows whether the recomputed Roll matches the root on-chain. The Roll, in the docs.
What about tokens I received by transfer?
They cost zero. Only tokens a wallet bought itself count toward its loss.
Why do I have to burn the bag?
So a loss is used once. The burn is irreversible, which is why the app asks you to confirm the amount and shows the estimated payout first.
When do I get paid, and how much?
After the window closes, anyone can settle the Fare. The rate is the budget divided by all proven losses that crossed, never above the payer's max rate. Your payout streams to you over the vesting period. It is not known until the Fare settles.
What is the Stay clause?
An optional rule: your stream continues only while you still hold what you have already received. If you sell, the rest of your stream returns to the payer.
Can I use the same bag in two Fares?
No. When two Fares target the same dead token, you pick the better one. A loss counted in one Fare cannot be counted again in another Fare with the same or an earlier snapshot.
Is there a $DANAKE token?
$DANAKE is not launched. No CA. Any token using the name today is not ours. Launch news comes only from @danakefun.
Is this live with real money?
No. Danake runs on Elysium testnet, where tokens have no value and timings are shortened. The contracts have not been audited yet.

Cross over.

Run the whole loop on testnet in the sandbox: make a token, watch it die, open a Fare on it, burn and get paid.

Try the sandboxSee live Fares