RSS3 token launch auction is about to be held. We desire to deliver all the necessary details as much as possible to help you have a transparent and comprehensive understanding. This article will explain the auction method, RSS3 Liquidity Bootstrapping Pool auction parameters, participation method, and price curve thoroughly.
Quick Intro About
**RSS3 Liquidity Bootstrapping Pool (LBP) **
- Start Date: 12 Feb, 2:00 PM UTC
- End Date: 15 Feb, 2:00 PM UTC
- Duration: 3 days (72 hours)
- Starting Price: $ 0.6
- Ending price: $ 0.03
- Minimum purchase amount: None
- Blockchain: Ethereum
- Initial pooled: 75,000,000 RSS3 : 2,370,000 USDC
- Starting weights: RSS3 95%: USDC 5%
- Ending weights: RSS3 50%: USDC 50%
As for the RSS3 project’s information and tokenomic, please check out our announcement blog here.
Get yourself Preparation
- Wallet: Prepare an Ethereum compatible wallet such as MetaMask, Gnosis Safe.
- Cryptocurrencies: USDC, WETH, ETH, and DAI
- Purchase amount: There will be no minimum threshold token amount for participation in the LBP auction, but please carefully consider the cost of gas required during your participation.
- Enough Gas: Make sure you have sufficient ETH ready to pay for gas and enough of the currency you use to participate in the Auction. If you do not have enough ETH in your wallet to pay for the transaction, it results in a failed transaction.
How to Participate
To participate in RSS3 LBP Auction, visit https://copperlaunch.com/auctions/0x02b67e19eec23c4ef40f95735aa522f63c254cd8 , which will lead you to Copper, the platform where the Auction takes place.
Click the button on the top-right corner to connect your wallet.
Once you have successfully connected to your wallet, feel free to input the amount of RSS3 tokens you would like to buy, and proceed with two steps as follow:
- Click the “Approve” button on your screen.You will also notice a popout to allow the Copperlaunch to spend your tokens of choice.
- Once you have approved, the Auction Page will show the “Get RSS3” button, and you will be able to click “Get RSS3”.
Note: You may click the “Settings” button to adjust your slippage tolerance if needed.
- After you have swapped, wait for the confirmation on the Ethereum. Once this was completed, you will receive your RSS3 tokens in your wallet.
How the Pricing Works
The linear graph shows the RSS3 predicted price without any new swaps. LBP (Liquidity Bootstrapping Pool) is a variant of dutch auction or reverse auction. The price will drop if no one buys as time progresses. Please learn how it works before participating in LBP and stay within reasonable price ranges. Don‘t FOMO.
When you complete an RSS3 swap, market demand will cause the price of the RSS3 token to increase. Conversely, when there is no trade, the price gradually decreases over time and weight.
For example, starting at $0.6, the purchase price of RSS3 tokens will gradually and slowly decrease when no exchange takes place. However, the price of the RSS3 token may also increase rapidly if, at a certain point, a large number of orders have been successfully exchanged, this means that if some investors and supporters continue to buy RSS3 tokens, the price may also exceed $1 or even higher.
In short, from a macro perspective, any investor or supporter will be able to freely swap RSS3 tokens at any price they deem most appropriate, which is the price they get and the market price. When the auction is over, the price of RSS3 tokens will be settle at what the entire market deems most appropriate.
Journey Just Started
Thank you for reading this far. I have a strong hunch we will meet at the LBP auction. The investors/supporters who participate in the RSS3 LBP auction will gain the following advantages based on market principles. You can freely trade RSS3 tokens directly on the open market without any lock-up period. Also, as mentioned in the RSS3 white paper, the token holder will have the right to participate in the voting resolution of the RSS3DAO.
On the path to exploring a better future Internet, RSS3 will always try to overcome obstacles in the front as much as possible, and it is everyone who supports us behind the back which gives us courage. We wish you a good day, and meet you up there.
RSS3 Team