OneShot Token — OneShot operations
OneShot Token is a crypto/social experiment which allows users to buy it an unlimited amount of times, but sell it ONLY ONCE (therefore OneShot).
The goal of this article is to make absolutely clear which operations are OneShot, to prevent people from losing their funds or otherwise blocking their funds forever unintentionally.
Sell — OneShot
If you sell, that’s it. You can’t:
- sell again
- buy again
Please note that this means whenever selling you should sell your entire balance! I can’t stress this enough, SELL YOUR ENTIRE BALANCE. If you don’t, there is no way to recover what’s still left, nobody has access to those tokens anymore.
Buy — NOT OneShot, with caveat
Normally, you can buy as many times as you want. Say, you buy X tokens. Then you’re watching the market and decide to get more, another batch of Y tokens. You can do that.
However, if you sell, you cannot buy more afterwards. You sell, you’re out.
Transfer tokens to another account — not possible
To enforce the OneShot mechanics, the smart contract disallows transferring of tokens to another account. So, be aware that whatever trades you, you can only do from that account.
Provide liquidity — OneShot
This one might be surprising, on two acounts:
- why provide liquidity at all?
- why is it OneShot?
To answer the first question, it’s not a farm, so I guess the only reason is to get uniswap liquidity provider fees. Still, as the goal of the token is to have no swing trading by design and very little sell pressure, there probably won’t be much fees to gain. So my advice would be to NOT provide liquidity.
But say you do provide liquidity anyway, why is it OneShot? The answer lies in the fact that from the token smart contract’s point of view, it “looks” like a sell and there is no (easy?) way to distinguish it from a real sell. So, in effect, you’ll be marked as having sold and your liquidity will be locked forever, you can’t remove it. This might not be what you want so thread lightly.
The one nice thing about this is: OneShot has Core-like features 😆
Normally, things are pretty straightforward: buy buy buy, sell, done. However, I hope this post helps clarify the scenarios. Please be careful with your money!