DEGENERUS PROTOCOL

Mechanics

FLIP

FLIP is the protocol's reward and burn token. During each level's redemption window, 1,000 FLIP buys one ticket. The introductory curve runs from 0.01 ETH to 0.24 ETH; later 100-level cycles run from 0.04 ETH to 0.24 ETH. That fixed redemption rate creates utility, not a guaranteed market price.

Where FLIP comes from

Protocol reward paths mint FLIP through affiliate commissions, quests, coinflip bonuses, jackpot side-prizes, lootbox rolls, and ticket-purchase bonuses. Ticket and lootbox ETH still routes fully into game pools; the purchase bonus is minted on top of the deposit, not carved out of it. Most protocol-issued FLIP first enters the daily coinflip as a stake.

Most reward-path FLIP rides this coin before it settles. Green, the stake receives the day's win multiplier. Red, it burns.

The ratchet

1,000 FLIP redeems for one ticket during each level's redemption window, the stretch from the moment the pool hits its target through the jackpot days, so FLIP's utility value rides the ticket price curve. A stash earned at level 3 buys the same tickets at level 90, when each one costs 16x more ETH. If FLIP trades below that utility benchmark, buyers may prefer FLIP-funded tickets. Whether market arbitrage closes the gap still depends on liquidity, timing, ticket demand, and game risk.

Where FLIP goes to die

Its major protocol sinks burn it: