TopBidder announced the Token Issuance Program, to understand the rules of airdrop and LBP program
TopBidder for NFT Bidder Announcement Token Issuance Plan, Understand Air Drop Rules and LBP Plan
Original source: Topbidder
What is the BID?
Bid is the management coin of TopBidder agreement, used for Yield Farming and subsequent project management. In order to improve decision-making efficiency early in the project startup, the development team will have decision-making authority. With the gradual improvement of the ecology, the decision-making power of the team will be gradually transferred to the community.
At the early stage of the project, after artists signed contracts through the platform, part of the RNFT issued had the function of casting BID when they were auctioned. The rate at which Bid is released is related to the number of works submitted by artists, with about 12 million released annually.
Top Bidder DAO will be opened after BID distribution to a certain stage, the DAO will vote to decide the setting of each parameter of the auction system, governance using quadratic voting mechanism;
The management coin BID has the function of collateral mining and shares the profit of the agreement.
What are the rules for BID issuance?
Name: the BID
Total circulation: 100 million
Properties: ERC20
Role: Community governance
Generation mode:
Auction and gift (60%)
Team (the product starts to be released 6 months after the official launch, linear unlock after 33 months, 20%)
Community Fund Reservation (Volunteer Award, capped at 50,000 per month, 3%)
Subsidies for artist certification (1000 pieces of subsidy after artist platform certification, 1%)
Cryptographic Art Community (Cryptographic Art Collector directional airdrop, unlock 1% after 30 days of the product officially launched)
Early volunteer airdrop and Grant (core community and developer rewards, unlock the product 30 days after launch, 1%)
Community Round Funding (product release after launch, 6 months linear unlock, 6%)
Market and strategic cooperation (start to release 6 months after the official launch of the product, 3%)
LBP and DEX liquidity provision (complete liquidity guidance before product launch, 5%)
Look at the BID TOKENDistribution rule.
What are the airdrop rules for BID?
Bid will make a full airdrop to crypto art collectors who hold any NFT in the following products between Block Height 11000000 (6 October 2020) and Block Height 12128000 (28 March 2021). And in Opensea Rarible/Foundation/SuperRare combined spending more than $100 (0.05 ETH), can be achieved. Each category has different weights, for example if you have any number of Cryptovoxels with some HashMasks, you will get 200+50 BID airdrops. The airdrop will open on May 20th and can be passed at any timepageMake a query.
LBP is what?
LBP, which stands for pquidity Bootstrapping Pools, is a smart trading pool launched by Balancer that allows matching tokens to change their weight over time and their price to change accordingly.
In the most extreme case, if the BID remains unbought for the entire LBP period, the price will gradually fall, as shown below:
In practice, however, prices move up and down the curve: when someone buys something, the price immediately rises; otherwise, it keeps falling. Like Flappy Bird.
If you are not sure when to enter, can you copyMeasure the table, modify the orange data in Column B (representing USDC purchases in 1 hour) in Calcpator to observe the price movement in the right-hand chart.
TopBidder's LBP parameter Settings?
The whole process of TopBidder Protocol LBP was 72 hours, starting from block height 12243100 (about 14:00 on April 15th) and ending from block height 12262900 (about 14:00 on April 18th). The transaction pair is BID/USDC, the initial weight is set to BID 90% + USDC 10%, and the end weight is set to BID 50% + USDC 50%. During the LBP process, only USDC can be used for trading. The initial price is 1.8USDC, and the BID weight gradually decreases within 72 hours. Upon completion of the LBP, the trading will be suspended and the team will withdraw all liquidity from the Balancer pool while establishing a $2 million liquidity BID/ETH trading pair at Uniswap based on the closing price.
In the Balancer LBP phase, the trading fee is 0.15% and traders outside of the team cannot add liquidity. After the LBP closes and the UNISWAP trade pair is established, traders are free to add Bid /ETH liquidity.
How to trade in LBP?
It did trading of LBP and common Balancer, enter the Balancer Exchange, choose USDC and BID (address: 0 x00000000000045166c45af0fc6e4cf31d9e14b9a) can start trading. (clicklinkDirect access)
What is Poke Weights and what are the benefits of using this feature?
Poke weights are called before a large purchase. This function is used to update the BID weights to the current block height to get the latest BID price, helping to reduce trade slips. If no one calls Poke Weight for 30 minutes (first 6 hours of LBP) / 1 hour (6-18 hours) / 2 hours (18-36 hours) / 3 hours (36-72 hours) after the LBP is turned on, every time a buyer adjusts the weight, Then the team will make a call.
How do I get notified of the latest weighting changes and trading status?
Join the officialDiscord channel, enter the #lbp-monitor subbranch. You can also join the #trading-monitor channel below for the latest trading in LBP.
What is the best strategy for LBP?
First of all, do not trade at the first time after LBP is opened. Different from the usual projects, the trading price will be at the highest position in the first time and has a high slip point. Wait for the price to gradually fall to the psychological level before starting trading;
Call PokeWeight before a large trade to update the weight, you can get a lower price and a smaller trading slippage;
Divide your funds into multiple small transactions with acceptable transaction fees to reduce uncertainty caused by price fluctuations and to reduce the possibility of arbitrage by the traded robots.
What are the properties of LBP?
LBP is not a one-way injection of BID crowdfunding into USDC, but a liquidity initialization led by the project team. Anyone can buy or sell bids during LBP, no different from ordinary DEX transactions.
Welcome to join the official BlockBeats community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Official Twitter Account: https://twitter.com/BlockBeatsAsia
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