6 min readApr 9, 2022



Every four years, the rate of production of bitcoin is cut in half, and in the following months, a scarcity of bitcoin accumulates in comparison to the previous equilibrium, which eventually forces the price to rise as fewer bitcoins become available to buy on the markets. This has made bitcoin a very profitable investment, but the price rises in this way only once every four years, taking about a year to increase from the previous equilibrium price to a new peak. After that, the price tends to decrease for a period of several months to a year, after the market’s expectation of rising prices is replaced by an expectation of falling prices. A new equilibrium price emerges during the following years, when the supply has been stable for years and there are no more expectations of rising or falling prices. That equilibrium is then disturbed by the next cut in the rate of production, which repeats the pattern.

Why Should You Choose this Project?

This rise in price due to increasing scarcity is a desirable property for an investment, but it would be preferable to have an investment that always increases in value, rather than increasing, decreasing, and then stabilizing over the course of many years. When the bitcoin price begins to fall from its new peak, it would be desirable to be able to exchange bitcoins for another coin that’s just beginning to rise in price as a consequence of its rate of production getting cut in half. The four tokens introduced here have scheduled production halvings that occur, for each token, nine months after the previous token’s halving. This allows investors to hold a coin while it is rising in value, and then trade it for a coin that will rise in value during the subsequent months. An investor who follows this strategy will always hold a token that has recently become scarce in comparison to what the market has become accustomed to, and whose price can be expected to rise as the market adjusts to the new scarcity.

Each token will have a total supply of approximately 33,112,800 tokens. So in the very long term, the coins can be expected to have approximately equal value. However, at any given time before then, one token will be generated at a faster rate than the others, and over time will tend to become cheaper to buy. Another token, which was previously generated at the fastest rate, will have recently halved its rate of production, and will then be generated at the slowest rate of the four, and will become scarcer, and consequently more expensive, over time. Trading the more expensive tokens for the cheaper ones will allow an investor to increase the number of tokens that he or she owns over time.

How Can You Use Four Tokens?

An investor who holds 1 Spring Token, for example, can wait until the rate of production of Spring Tokens is halved, and then the Summer Token will be the one that is produced at the highest rate. This will eventually cause the Summer Token to become cheaper than the Spring Token, whose newfound scarcity will make it more expensive. The investor may be able to trade the 1 Spring Token for 1.5 Summer Tokens. Those 1.5 Summer Tokens might later be traded for 2 Autumn Tokens, and those in turn might later be traded for 2.5 Winter Tokens. The cycle completes when the Winter Tokens are traded for Spring Tokens again, and the investor may at that time be able to buy 3 Spring Tokens, and can repeat the cyclical process to acquire more.

Production Schedules of Seasonal Token

Tokens are issued as rewards for mining. A reward for each token is paid out every ten minutes on average. The number of tokens in each reward differs for the four tokens and decreases with every halving event. The Spring Token is initially produced at the fastest rate, but has the earliest halving. One fifth of the total supply of Spring Tokens will be mined before its first halving. One third of the total supply of Summer Tokens, three sevenths of the total supply of Autumn tokens, and one half of the total supply of Winter Tokens, will be mined before the first halvings of those tokens.

The price of coins tends to rise a number of months after a halving takes place, as the accumulating scarcity of coins, in comparison to what the market has become used to, becomes large enough to affect the price. We can take the number of tokens produced between six months and a year ago as an indicator of the six-month supply that the market has adjusted to. The actual number produced in the last six months may be as little as half of that, in which case the previous equilibrium between supply and demand will become unsustainable, and the price will need to increase to find a new equilbrium.

As figure 3 shows, the tokens become scarce one after another, cyclically. The market price of each token will adjust to that token’s scarcity when it appears, and so the tokens will tend to rise in price, one after another, in a predictable sequence.

Even though the tokens become harder to obtain over time, holders of the tokens can use them to acquire more, by farming and cyclical trading. As the tokens become more expensive to mine and buy, the ability to get more tokens over time without buying or mining them becomes more and more useful.

Two Types of Farmers: Investors and Miners Investors

  1. Investors

start off with ETH but no seasonal tokens. To start farming, an investor trades about half of the ETH allocated for farming to get seasonal tokens, and then provides liquidity at Uniswap using the ETH and the tokens. The investor can then deposit the Uniswap liquidity position into the farm, and start receiving farm income.

2. Miners

Miners initially have tokens but no ETH. A miner provides liquidity by selling about half of the tokens allocated for farming in exchange for ETH, and then uses the ETH and the remaining tokens to provide liquidity at Uniswap, which can then be deposited into the farm.

Seasonal Mining Supply

Miners earn rewards of newly-mined tokens every ten minutes on average. The number of tokens per reward are shown in the table below.

Mining started on the 5th of September, 2021. Spring tokens are in season. Nine months later, the size of the Spring reward drops to 84 tokens. Spring tokens will go out of season and become harder to acquire over time. Summer tokens are then produced at the fastest rate for nine months, after which the Summer reward halves to 70 tokens. Autumn tokens will then be in season until the Autumn reward drops to 60 tokens. After that, the Winter reward of 105 tokens will be the largest of the four, until the Winter halving occurs and the Winter reward drops to 52.5 tokens.

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