The hard cap for Unipeg is 10,000, but currently, only about 6,817 whole unicorns exist on the market; the remaining 3,183 are “fractionals” (fractional uPEG / dust) — a number that changes in real time. Why? Because unicorn images only exist when held in whole numbers. For example, if you hold exactly 1.0, 2.0, 3.0... uPEG in your wallet, you own one complete unicorn. Any fractional amount — such as 0.3, 0.51, 0.72 — is considered dust (fractional). These have no image and are merely token fragments. Moreover, the trend is that as more dust accumulates, whole unicorns become increasingly scarce. Of course, this doesn’t decline linearly every day — it’s more likely to be a gradual erosion amid volatility. The reason is simple: • Every time users swap (buy or sell) in the Uniswap pool, the tokens are split into fractional change. • Buying across a whole number threshold → a new unicorn is born. • Selling below a whole number → the corresponding unicorn immediately “dies” / disappears (until someone else reassembles the whole amount). • The more frequent the trading, the more dust accumulates in the pool, the fewer clean whole numbers users hold, and thus the number of simultaneously existing whole unicorns remains capped below 10,000. Think of it this way: 10,000 uPEG are like 10,000 whole bricks. Each trade chips off a bit as change. The more you chip away, the fewer opportunities remain to reconstruct whole bricks. Currently, dust already accounts for 47%. As trading continues, the proportion of dust will keep rising, making whole unicorns increasingly rare. As a result: • The rate of new unicorn births will slow down (it becomes harder to reach whole numbers). • Existing whole unicorns will continuously appear and disappear due to buying and selling. This is the official design: trading itself automatically burns scarcity — the more people participate, the more dust is created, and the more valuable whole unicorns become. It’s an intrinsic on-chain deflationary mechanism. Additional note (for newcomers): Unipeg (uPEG) is an on-chain experiment where unicorns are generated through trading. It is neither a standard token nor a traditional NFT — it’s a novel hybrid between the two, built using Uniswap v4 hooks (programmable transaction triggers). Every time you perform a swap in its Uniswap liquidity pool, the system generates a live 24×24 pixel SVG image of a unicorn directly on-chain (no IPFS needed). The appearance — colors, layers, etc. — is randomly determined by the transaction hash. Each unicorn is tied to a whole-number holding of uPEG (holding 1, 2, 3... uPEG equals one unicorn). Fractional amounts remain ordinary tokens; only whole amounts “gain form.” Unlike traditional NFTs — which are pre-rendered and listed for sale — Unipeg generates a new artwork on the spot every time you trade. The act of trading itself becomes the act of creation. Unipeg is an experimental project demonstrating the creative potential of Uniswap v4, tightly linking trading, generative art, and collectibles. However, at its core, it remains an on-chain toy with high risk — purely for DeFi/NFT enthusiasts (not suited for most casual users).