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OIL
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Tune in for a special AMA with @furbocoin Wednesday (2/11) at 10am EST / 3pm UTC.
Furbo@furbocoin
Join our AMA with @onchainoil, as we dive into the digital oil rush on Fogo. Details below👇
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OIL retweetledi

The first Eco Vibe Session with guests @im_jowee @ignitionxyz @Pyronfi @fogohuntergame @onchainoil & surprise guests @jarednotjerry & @ticklesnarf10
If you want to learn about future of @fogo, building on a new L1, vibe-code building, and more, tune in👇
x.com/i/spaces/1kvJp…
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Seems I beat @VitalikButerin to it…
Fogo@fogo
Why is Fogo an L1 and not an L2? The reason is powerful:
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Any @solana dApp can 10x their speed.
Just launch it on Fogo.
It's that easy.
@BrasaFinance did it.
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@BIGGBANGXAGE Open a ticket in our discord, team will be happy to send you some tesnet FOGO!
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@onchainoil @onchainoil Kindly post a clear instructions on how to go about claiming the faucet
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Over the next few days, going to try and get some info out on Oil Protocol....
Beginning with a little more context on auction-based mining:
▪ Auction-based Mining:
→ OIL Protocol uses a Dutch auction (i.e. reverse auction) mining system
→ Users attempt to operate one of four OIL wells by bidding $FOGO
→ The user with the highest bid controls the well and begins mining (earning $OIL)
→ Users who remain the highest bidder continue to accumulate $OIL
→ Following a successful bid, each new auction cycle begins at double the last paid well price
→ Winning auction bids are distributed as follows: 86% to previous owner, 7% buybacks/burns, 3% for liquidity, 3% for stakers, and 1% to the protocol
→ At each new starting price, OIL well prices decrease linearly to 0 $FOGO over a 1hr timeframe
Please check out my previous article on Oil protocol for more info, and don't forget, Happy Mining! @onchainoil @fogo @0xLandman @im_jowee
Spank@spank2023
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