[Cone Lore] The History of r/ConeHeads & BitCone (CONE) Tokenomics

19 min readNov 15, 2022


The original Cone Lore Post by u/ecobuddies can be found here: https://www.reddit.com/r/ConeHeads/comments/yvasa6/cone_lore_the_incomplete_cone_head_bitcone/

Click here to skip ahead to the BitCone Tokenomics.

BitCone (CONE) — Original Token Icon
BitCone (CONE) — Original v1.0 Token Icon

A History of Cone Heads & BitCone (CONE) thus far:


On 7th of Jul. the first ever Reddit Avatar Shop launched!

Introducing the Reddit world to the Gen 1 Avatars, including our beloved Cone Head, of the Imagination Station Collection by u/chipperdoodlescomic

Cone Head Reddit Collectible Avatars

The community of Avatar NFT enthusiasts was small but powerful, and growing rapidly each day.

On the 10th of Sep. the FOMO for Cone Heads began, as Cone Head #37 was minted, and the Cone Memes were born.

ConeHeads Meme

On the 11th of Sep. the first mention of “BitCone” was unleashed onto the world, as u/crypto_grandma became the first BitCone Maxi

This was also the day of the Rise of the Knoo Vikings, as they attempted to unite to take on the Cones!

On the 12th of Sep. u/Hoppy_Doodle declared via a Comic that the Viking vs. Cone war officially began.

Hoppy Doodle’s First Viking Comic

On the 14th of Sep. as a response, u/Chipperdoodlescomic released the first Cone Head Comic!

Chipperdoodlescomic’s First Cone Head Comic Strip

On the 17th of Sep. 2022 a monumental moment occurred, and the Cone Head NFT sold out from the Reddit Avatar Shop!
With a final mint count of 608 Cone Heads.

Cone Head Avatar Sold Out

On the 19th of Sep. BitCone (CONE) was deployed by u/ecobuddies and announced as an Airdrop for all owners of Cone Head who claimed their Cone Head through Reddit.

Cone Head Airdrop of BitCone (CONE) Announced

608 Billion BitCone were Minted and set as the max supply.

This meant 1,000,000,000 BitCone were claimable for each Cone Head Mint, who claimed them before the Deadline, on the 1 Month Anniversary of Cone Head selling out from the Reddit Avatar Shop. (17th of Oct.)

With the fate of any remaining unclaimed BitCone, was to be determined via a [Conemunity Poll] featuring community suggestions. Turning r/ConeHeads into a “Conemunity DAO”. ( Original Announcement Post)

Also coincidently on this day, u/002timmy released their Cone Head Parody NFT. Distributing them for free for 24 hours.

u/002_timmy’s Cone Head parody NFT,

On the 20th of Sep. the first post about BitCone was made, calling it the gold standard of Avatar related Currencies by u/No_Yesterday8193

The Golden BitCone Coin

On the 4th of Oct. Avatar enthusiasts began to become “woken up” by the Cone.

On the 7th of Oct. over 50% of the BitCones supply had already been claimed by Cone Heads!

On the 11th of Oct. u/dick_slap found themselves in possession of the Fabled Lost BitCone, when they received double the amount of BitCone distributions to their wallet, and asked the Cone Council for guidance.

On the 15th of Oct. the first ever trade of BitCone (CONE) occured! (BitCone P̵i̵z̵z̵a̵ Avatar Day)

Trading 1,000,000,000 BitCone (CONE) for a Frustrated NFT Avatar!

Marking the 15th of Oct. as the official BitCone Avatar(/Pizza) Day :D

On the 16th of Oct. just 1 day later, we witnessed the first ever auction of an NFT Avatar for BitCones (CONE)!

These trades led to many more BitCone trades to follow.

On the 17th of Oct. the Initial BitCone (CONE) Distribution Period [ENDED] on the 1 Month anniversary of Cone Head selling out from the Reddit Avatar Shop.

On the 18th of Oct. we began the 1st Official [Conemunity Poll] to determine the fate of the Remaining Undistributed Bitcone (CONE).

On the 20th of Oct. the Spooky Season Collection (Gen 2) was launched in the Reddit Shop, and the GlowCone was born!

The Glowstickman’s GlowCone (by u/fmarxy)

On the 21st of Oct. the Conemunity conducted a [Mini Poll] to decide if Glowstickmen should be included in the distribution of the remaining BitCones.

This Poll Passed! Officially welconing GlowCones into the CONE family!

On the 23rd of Oct. after many Cone Head owners reported missing the Distribution, we conducted the [Conemunity Poll #1.5] to extend the BitCone Airdrop for Cone Heads on a 1 time basis, which Passed!

On the 25th of Oct. the Cone Head Airdrop Extension Period began until the 31st of Oct.

This day was also the Birth of the CONE = 2663 Meme!

2-6-6-3 spells out C-O-N-E on a phone dial pad.

This meme lead to over 100+ Cone Head NFT being listed at 2663 ETH on OpenSea, within the next few days!

2663 ETH Listings

On the 27th of Oct. a Spreadsheet of the already claimed Cone Head mints was released publicly.

On the 29th of Oct. we started the BitCone (CONE) trading Megathread to catalog all the reported BitCone (CONE) trades for Avatars, and later on (wETH) trades as well.

BitCone Trading Megathread

On the 1st of Nov. the Extended BitCone Claim Period for Cone Heads ended, and the GlowCone claim began!

Allowing Glowstickmen owners to begin claiming their Mint # in the Designated Post until the 17th of Nov.

The [Conemunity Poll #2] also began on this date, to determine the Distribution Tokenomics of the Remaining Unclaimed BitCones.

On the 2nd of Nov. a [Guide] was published to easily add BitCone (CONE) tokens to MetaMask (with the Token Icon)!

Also on this date u/jespow the founder and former CEO of Kraken Exchange, publicly became a Cone Head, as well as Coneillionaire!

u/jespow of Kraken is a Cone Head

On the 4th of Nov. we began the [Conemunity Poll #3] after many Coners showed interest in having a safe way to Trade their BitCones. The goal of this Poll was to determine the Initial starting Liquidity Price of Bitcones on a Decentralized Exchange (DEX).

Initial Price & Marketcap Options for BitCone (CONE) Liquidity

The winning result after many long debates in the Subreddit, was Option #6. with an initial Marketcap of $60,800.

On the 6th of Nov. u/dick_slap returned the fabled lost BitCones by overcoming the darkness within, with the help of the bright Orange Power of the Cone!

Earning himself the title of the 1st Cone Lore: Legend, commemorated by an NFT!

The Cone Lore: Legends NFT

On the 7th of Nov. Announced Launch of DEX Liquidity (CONE/wETH) LP & BitCone Swapping on Quickswap.exchange on Polygon.

As well as [Guide] on how to Swap BitCone (CONE) & Provide Liquidity

On the 9th of Nov. those who Provided Liquidity during the First 24 hours, along with other significant contributors to the Cone Head & BitCone (CONE) Conemunity, also became recipients of the Cone Lore: Legends NFT!

Also on the 7th. the first Safety Cone Post was released, guiding newconers on how to Spot & Avoid fake Avatar Collections on OpenSea.

On the 16th. of Nov. as a Special Gift to the initial Hodlers, Purchasers and Believers in BitCone a Snapshot was taken of all Addresses hodling BitCone (CONE) and they received the Golden Cone NFT!

The Golden Cone NFT Airdrop

On the 18th. of Nov. the GlowCone Claim Period officially [CLOSED] and the Gen 1 Avatar Snapshot Date for the BitCone (CONE) Airdrop was announced!

On the 19th. of Nov. the 15% of the undistributed BitCone, allocated by the [Conemunity Poll #2] to GlowCones, were distributed via an Airdrop to all eligible Glowstickman Mints who claimed their Airdrop.

For each GlowCone owned by a wallet, they received 54,142,011 BitCones (CONE)!

On the 24th of Nov. we celebrated the first Conesgiving! (Gen 1 Avatar Airdrop)

The First Conesgiving

The Gen 1 Avatar Airdrop was allocated 30% of the undistributed BitCone by the [Conemunity Poll #2], and were distributed to Gen 1 Avatar owners for each Avatar owned, via the Conesgiving Airdrop event.

On the 26th of Nov. the Official BitCone website went LIVE! at https://bitcone.lol

The BitCone.lol site was designed by one of our amazing Mods, u/mvea. Who was awarded a Cone Lore: Legends NFT for their conetributions!

On the 1st of Dec. the first Conemunity Owned Liquidity was added to the (CONE-wETH) Liquidity Pool!

Thanks to NFT sales of the Golden Cone & other conetributions from secondary market sales of Conemunity NFT projects like 8-bit Cones and Prophecy of Conedor, among many others.

On the 7th of Dec. to celebrate the 1 Month Anniversary of BitCone (CONE) being tradable, Cone Lore: Wizards NFT were distributed to early BitCone (CONE) Liquidity Providers

[Cone Lore: Wizards]

On the 8th of Dec. Admins of r/CollectibleAvatars mentioned Coneheads by name when announcing that Background Card Selection is live on Mobile! :D

This update allowed Avatar Mashers to choose which Background Card will be used in their Mashup for the first time!

“Hey coneheads” from a Reddit Admin

On the 16th of Dec. u/Rickribera93 introduced the initial concept of BitCone Mining — to earn free BitCones by gaining Post karma in r/ConeHeads. This initial version of BitCone Mining required Coners to comment their Polygon Wallet address in THIS POST in order to be eligible for (CONE) Mining Rewards.

On the 18th of Dec. (AKA: Coneukkah) a Snapshot was taken of all wallets owning any Gen 2 (Spookuy Season) Avatars.
The Snapshot occurred at block height 37,002,663, in preparation for the Conemas Gen 2 BitCone Airdrop!

On the 24th of Dec. (Conemas Eve) the Mint began of the Cute Cone Club NFT collection by u/ecobuddies on https://cuteconeclub.vercel.app!

690,420 (CONE) were distributed to anyone who commented their address in the Post, as well as 21 winners were randomly selected to receive a Free Cute Cone Club NFT Mint!

Cute Cone Club NFT Collection

On the 25th of Dec. (AKA: Conemas Day) we celebrated the very first Conemas with the Gen 2 Airdrop!

Conemas Gen 2 Airdrop

All wallets included in the Gen 2 Avatar Snapshot were sent 285,580 BitCones (CONE) for each of the Spooky Season (Gen 2) Avatars they owned during the Snapshot.


On the 7th of Feb. the [Cone Lore: Wanderers] NFT were Airdropped to all Liquidity Providers for any (CONE) Liquidity pair on the DEX Quickswap.Exchange.

Cone Lore NFT Airdrops

Along side this, was an additional Airdrop to wallets hodling a minimum of 1 Billion BitCones. This commemorative Airdrop to [Cone Lore: Cone vs. Viking War], was distributed to commemorate the re-ignition of the long fought war.

This post also included a message from u/ecobuddies explaining their disappearance from Reddit.

On the 11th of Feb. The [Conemunity Poll #4] began to determine how the BitCone Airdrop to r/cc’s MOON Token hodlers should be re-allocated.

Conemunity Poll #4 Options

The results of the [Conemunity Poll #4] was a re-allocation of the BitCones for an Airdrop for Gen 3 Reddit Avatars, with a clause for a new Poll should there be new Cone Traits featured in the Collection!

Conemunity Poll #4 Results

On the 7th of Mar. the [Cone Lore: Glowers] NFT Airdrop was distributed to all wallets who conetinued to supply Liquidity to any of the BitCone (CONE) Polls on Quickswap.Exchange.

[Cone Lore: Glowers]

On the 23rd of Mar. u/Rickribera93 introduced r/ConeHeads to the future of Avatar Trading Marketplaces: FirstMate.xyz.

The First NFT Marketplace to support the listing of Reddit Collectible Avatars in exchange for BitCone (CONE) Tokens!


This was the first step in solidifying BitCone (CONE) as the “Currency of Reddit Collectible Avatars”.

Not only did all Gen 1 & Gen 2 Avatar owners receive a portion of BitCones, they could now trade these (CONE) Tokens for Avatars directly on FirstMate!

On the 7th of Apr. the [Cone Lore: Knights] NFT were Airdropped to any wallet holding over 2.663 Million BitCone (CONE) in LP Tokens.

Cone Lore: Knights NFT

On the 11th of Apr. the 3rd Reddit Collectible Avatar Shop launched, bringing about many new Cone Trait Avatars in Gen 3, from new and established Artists.

Reddit Collectible Avatars — Gen 3

Gen 3 also introduced us to the 2nd Avatar Collection by u/Chipperdoodlescomic, the creator of Cone Head.

Bringing us the “Return of the Cone” through each of his new Avatars!

Gen 3 Teaser

On the 15th of Apr. began the [Conemunity Poll #4.5] to determine how the Gen 3 BitCone Airdrop should be distributed

On the 18th of Apr. the Results were in on the [Conemunity Poll #4.5], with the most votes going to Bucket Head Avatars by u/Chipperdoodlescomic!

[Conemunity Poll #4.5] Results

This meant the Gen 3 BitCone (CONE) allocation would be distributed to the Bucket Head Avatar owners, through a Claimable Airdrop.

On the 16th of Apr. r/ConeHeads began the “Who Wants to be a Millionaire” BitCone (CONE) Giveaway!

CONE meme by u/ecobuddies

Any user who commented on this post would be eligible to instantly receive 1 Million BitCones!

On the 25th of Apr. the Winners of the Avatrees Charity Event were announced! (in partnership with Avatar Artist u/Tandizojere)

Art concept by u/joemari5

The goal of this Charity Event was to make the earth a better planet by donating all funds towards Planting Trees with Project Eden! While also making a fun competition between the Cone vs. Viking, Avatar Factions.

On the 27th of Apr. began the Bucket Head Airdrop Claim Phase!

Each Bucket Head Avatar Mint # was allocated 7.1 Million BitCone (CONE) to be claimed, through a Live Updating, Public Claim List!

This Airdrop was claimable directly within Reddit to Bucket Head owners, until the 31st of May Deadline. After which any unclaimed BitCone are to be added to the Conemunity Owned Liquidity held within the Treasury Multi-sig Wallet.

On the 28th of Apr. over 100+ Avatars were listed for sale in BitCone (CONE) on the FirstMate Marketplace!

Listings on Firstmate.xyz Marketplace

On the 3rd of May u/Rickribera93 released the New & Improved BitCone Mining in r/ConeHeads!

This was another revolutionary step in BitCone utility!

BitCone Karma Mining

Coners can now earn (CONE) Tokens for Upvotes on their Posts, as well as easily tip other Coners on Reddit!

On the 7th of May the [Cone Lore: Buckets] NFT were Airdropped to Liquidity Providers who conetributed 6.08 Million BitCone (CONE) or more to any Liquidity pair on Quickswap.Exchange.

Cone Lore: Buckets NFT Airdrop

On the 17th of May, applications were opened to expand BitCone Mining & Tipping to other SubReddits.

The first expansions being to r/Hiddenfish DAO & r/MemeticTraders.

All BitCone Mining Rewards are funded by the Mod team of partnered SubReddits. Generating additional demand for (CONE) Tokens!

On the 21st of May the r/ConeHeads Tipping Leaderboard was Launched! Gamifying tipping within the supporting SubReddits.

BitCone Tipping Leaderboard — May 25th, 2023

On the 22nd. of May u/Chipperdoodlescomic launched their very own Sticker Shop! Allowing Coners to order their very own Cone stickers in a variety of styles, while supporting the Avatar Artist.

u/Chipperdoodlescomic also Pledged to support the Liquidity Pool by donating 2% of Shop Sales to the Conemunity Owned LP!

Some of Chipper’s Stickers

On the 23rd of May our beloved Viking Avatar Artist, u/Hoppy_Doodle released his Complete Avatar Comic book Collection as a Free Download!

(After releasing the Epic Coneclusion Comic on May 21st.)

Hoppy Doodle’s Complete Comic Collection

On the 25th of May r/ConeHeads coneducted the first ever Cone Space on Twitter!

Twitter Cone Space

On the 26th of May the [Conemunity Poll #5] began to determine the New BitCone (CONE) Token Icon!

On the 27th of May the Username Flair in r/ConeHeads was once again updated to include the BitCone (CONE) 💧Liquidity held in a user’s Vault Wallet.

On the 28th of May additional new Subreddits embraced BitCone Mining! Bringing the total up to 8 Subs utilizing BitCone for Post 2 Earn & Tipping!

Subreddits supporting BitCone Mining & Tips

On the 29th of May the [Conemunity Poll #5] Results were in, and a New BitCone Toke Icon was determined by the Conemunity!

Results of the Conemunity Poll #5
BitCone (CONE) Token Icon v3.0

On the 30th of May BitCone (CONE) was Officially Listed on CoinMarketCap, one of the largest Cryptocurrency Ranking site in the world!

On the 31st of May u/thelonliestcrowd created the acronym for C.O.N.E.

“Compassion Over Negative Energy”


On the 4th of June u/ConeDesk released their first ever WeekCone WrapUp!

ConeDesk — the best news source for all things crypto & CONE

On the 7th of June the [Cone Lore: Newconers] NFT were Airdropped to Liquidity Providers who had at least 6.08 Million BitCone (CONE) in V2 Liquidity pairs on Quickswap.Exchange.

Cone Lore: Newconers NFT

On the 8th of June (6/08) — We celebrated the very first official Cone Day! Every wallet address holding at least 1 BitCone (CONE) Token, received a Music Video Airdrop of THIS IS BITCONE!

THIS IS BITCONE — lil’ conestruction x ecobuddies

From the 12th of June through the 14th of June many Subreddits took part in the “Blackout” and made their Subreddits private. r/ConeHeads put the decision up to the Conemunity in a Poll, and it was decided to remain open to the public!

As such began the Orange is the New Blackout event, where users were distributed 2663 (CONE) for every comment left during the event!

On the 16th of June local Dev. Wizard u/rickribera93 upgraded the BitCone Mining Flairs system!

On the 7th of July the [Cone Lore: Detectives] NFT were Airdropped to Liquidity Providers who had at least 6.08 Million BitCone (CONE) in V2 Liquidity pairs on Quickswap.Exchange.

On the 8th of July an Audit was completed by 0xMacro.com, for the BitCone Token Smart Contract!

This Audit was funded through donations from the ConeHeads Conemunity for the security of BitCone, and to identify any potential vulnerabilities, weaknesses, or risks associated with the token.

This Audit also opened the path to the introduction of BitCone (CONE) LP Staking Rewards, directly on the largest Polygon DEX — QuickSwap.Exchange!

On the 10th of July the First r/ConeHeads Sponsorship Auction began!

The winner was a Co-Sponsorship between u/ConeDesk & Ampule.io with a final bid of 500,000,000 (CONE)!

On the 12th of July BitCone was Verified on Polygonscan.com!

Enabling anyone to easily find BitCone (CONE) on Polygonscan, see the live Fiat Price, as well as add direct links to the Official BitCone.lol Site, and other Social Medias!

On the 24th of July the “UnOfficial Road Map” was released!

Giving some insights from the Team on the plans for the near future of BitCone!

On the 6th of Aug. (6/08) We celebrated the very Second Official Cone Day!

Every wallet address holding at least 1 BitCone (CONE) Token, received a Music Video NFT Airdrop of JOIN r/CONEHEADS!

On the 16th of Aug. a New [Conemunity Poll] began, to determine if there should be a BitCone (CONE) Airdrop for Gen. 4 Avatars, and if so, which Avatars should be the recipients.

The Results of the Poll were to distribute the Airdrop only to Treasure of Conelantis (Gold Cone) owners!

On the 24th of Aug. a followup [Conemunity Poll] was posted, to determine the allocation of the Conelantis Airdrop, from the Conemunity Events Fund!

The Results of this Poll determined that 848,000,000 (CONE) would be allocated to be claimed by owners of Treasure of Conelantis Avatars!

Too be conetinued…

The BitCone (CONE) Tokenomics:

Golden BitCone (CONE) by u/No-Yesterday-8193
Golden BitCone (CONE) by u/No-Yesterday-8193

As there were 608 Cone Heads minted, so were minted 608,000,000,000 BitCone (CONE), with no Mint Function in the token’s Smart Contract.

This means there can never be more than 608 billion (CONE), just like there can never be any more than 608 Cone Head NFT Avatars.

1,000,000,000 BitCone (CONE) were claimable for each Cone Head mint during the Initial Distribution Period. This claim period lasted until the 1 Month Anniversary, to the day Cone Head sold out from the Reddit Avatar Shop (October 17th).

Following this Initial Claim, and several Cone Heads discovering the sub too late, the Conemunity voted to extend the Distribution Period, and give the full 1,000,000,000 BitCones to any unclaimed Cone Heads Mints, who claimed them during the Extended Period.

A Spreadsheet was then released publicly, listing off all the Already Claimed Cone Head Mint #’s.

In total 486 Cone Head mints have been claimed during both Claim Periods.

The [Conemunity Poll #2], results have determined the exact Percentage allocations of the remaining 122,000,000,000 Unclaimed BitCone (CONE). All the variants in the charts are Conemunity member suggestions, taken from the Initial AirDrop Announcement.

There were no initially allocated “/treasury/founders/etc,” funds allocated.

The prevailing Option 4. on the [Conemunity Poll #2] passed, which lead to the following allocation results, which have since been distributed further:

The Initial BitCone (CONE) Tokenomics:

486,000,000,000 BitCone (CONE) were distribute to 486 Cone Head Avatar owners during the Initial & Extended Distributions.

122,000,000,000 BitCone (CONE) were voted to be allocated in the following manner:

The Initial BitCone (CONE) Distribution Tokenomics
  • Staking Rewards — (30%) 36,600,000,000 (CONE)
  • Gen 1 Hodlers — (30%) 36,600,000,000 (CONE)
  • GlowCones — (15%) 18,300,000,000 (CONE) — GlowCones
  • Gen 2 (Spooky Season) Hodlers — (10%) 12,200,000,000 (CONE)
  • Future Conemunity Events — (10%) 12,200,000,000 (CONE)
  • Bucket Heads — (5%) 6,100,000,000 (CONE)

There are no “founder’s BitCone”, the only BitCone (CONE) tokens any of the r/ConeHead Mods received, were for our own Cone Head Avatars, or purchased on the Open Market.

The Conemunity Treasury Fund holds all undistributed BitCone Funds in a 7 Key Multi-sig wallet, that requires 4/7 Signatures to approve a transaction.

1,000,000,000 BitCone (CONE) were also sent to u/jespow, (the Founder and Former CEO of Kraken Exchange) since he joined the Cone Club too.

The eCONEsystem Ahead:

Since its inception, BitCone (CONE) has depended on the r/ConeHeads Conemunity to choose to Embrace it, help guide its path forward, as well as give it Utility and Value.

(The Initial Utility chosen by the Conemunity was Trading BitCone for Avatars, as was seen by the many trades between Coners in the r/ConeHeads & r/avatartrading subReddits)

Here are just a few of the Current Utilities of BitCone (CONE):

BitCone Utilities @BitCone_CONE on Twitter

The Current Developed Utilties Are:

  1. FirstMate NFT MarketplaceUtilizing (CONE) for Listings & Bids.
  2. BitCone MiningEarn (CONE) for every upvote on Posts within supporting SubReddits.
  3. Tipping (CONE) Users can !tip BitCones earned through Mining
  4. Liquidity Rewards Add Liquidyt to the (CONE) Liquidity Pools to earn swap fees as well as (CONE) Tokens.
  5. Minting NFT — Several NFT Collections have already launched in partnership with r/ConeHead, with Minting exclusively in BitCones.
  6. BitCone Auctions — Bid on Auctions of Avatars or Cone NFT Collectibles, and Physical items in BitCone (CONE).
  7. More utilities to come!
BitCone (CONE) Token Icon v2.0

The eCONEsystem for BitCone Builders

In order to attract and retain talented individuals and teams within the Conemunity, the BitCone Project believes strongly in rewarding those who conetribute to the evolution and growth of its eCONEsystem!

For these reasons, any Tools, Dapps, Games or Utilities developed by Conemunity members for BitCone (CONE) will retain a perpetual 2.5% Creator Fee on any Revenue or Secondary Sales their project generates.

While also conetributing a portion of the shared revenue towards the Conemunity Owned Liquidity, held in the Multi-Sig Treasury Wallet.

In any initial sales, the Creator will retain 90% of all Initial Sales, while conetributing 10% to the Conemunity Owned Liquidity.

Spread the CONE <3

*If you feel any important [Cone Lore] moments are missing from this post please comment them in THIS REDDIT POST or reach out to r/ConeHeads’ ModMail! :D




BitCones (CONE) are 608,000,000,000 tokens created by Cones for Cones on the Polygon Network.