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Token Initial Launch (Balancer LBP)
Use Balancer Liquidity Bootstrapping Pool (LBP) for $INSUR token initial launch
Apart from private sales, InsurAce will roll out the initial token launch via the Liquidity Bootstrapping Pool (LBP) on Balancer to create an equal and fair launch as well as perform price discovery to the token.
About Balancer LBP
Balancer LBP is a tool designed for projects to launch their tokens with liquidity generation and price discovery and prevent front-running and speculation of normal auctions. The program will help the project teams to launch the token with a smaller amount of seed capital than normally would be required, which has been adopted by many projects as way of initial token launch.
Unlike normal liquidity pools on uniswap and/or balancer where the weight-ages of the token pairs are fixed (normally 50:50), the balancer LBP trading will start with an initial price of the token and a predefined weight-age (e.g., 90:10) which will change over time. At the end of the program, the weight-age will reach the predefined levels (e.g., 50:50) whereas the price will reach an equilibrium.
$INSUR LBP Programs
The InsurAce LBP program will start from UTC+0 00:00 12 Mar. 2021, lasting for 48 hours to end at UTC 24:00 14 Mar 2021. The starting price for $INSUR is set at 4.50 USD, and the initial weights of INSUR to USDC is set at 90:10 and the ending ratio is set at 50:50. The key parameters are set in table below.
INSUR LBP Key Parameters
If there is no buy and/or sell during the program, the price will eventually reach its low end at the end of the program as illustrated in below graph.
spot price without any buy/sell orders
whereas the INSUR token fully diluted value (FDV) will change as below:
FDV change over time without buy/sell orders
The complete simulation of the program can be viewed in this Excel (to add a google share link).
After the LBP ends, the fund raised will be used to launch liquidity pools on Uniswap, Balancer and other DEXes. More information will be disclosed here.
How to Participate
- 1.To participate in the LBP Program, you need to have a crypto wallet that balancer supports first. Currently balancer supports these wallets as shown below.
2. Navigate to InsurAce homepage (www.insurace.io) where there's a banner, just click the "GO" button and enter the LBP page (lpb.insurace.io). There is the key information displayed for the LBP sales, including "LBP Time Remaining", "Current Price", "INSUR token Remaining", "Market Cap", as well as a real-time price chart in the middle.
//To insert the page screenshot
3. Click the "Enter Balancer Sales Page" button in the middle, and you'll be directed to the token swap page on balancer, in which you can swap INSUR token with USDC or other tokens you have in your pocket. Note that for other non-USDC tokens, balancer will do a smart routing to eventually swap with INSUR token.
4. After the swap transaction is confirmed, check your wallet, you should be able to have INSUR tokens in your wallet. If you're unable to find the INSUR tokens, please add INSUR token symbol into your wallet. The token address of INSUR is: // to insert the contract address of INSUR Token.
//TODO: add a metamask screenshot here.
5. Meanwhile, all our community channels (telegram, discord, twitter, wechat, forum) will be open 24hours to provide full and immediate support, don't hesitate to contact the team via any of these channels.
Important Reminders
Given the special design of balancer LBP to prevent front-running and speculation, it normally starts at a high price and eventually converge to some lower price (could also be higher than the starting price) per the buy/sell transactions made during the process. There're a few important reminders we would like to make for your kind attention.
Don't race to buy
Balancer LBP is not Flash Sale, you don't necessarily need to rush to buy INSUR tokens at first place unless you want to secure the shares of tokens as early as possible. The starting price is normally set at a relatively higher level, but it will fall in the absence of buying powers, so the front-runners might even get hurt more. The better strategy would be to wait till the price falls to your desired valuation, and you can execute your orders. Of course, don't wait too late to the end of the sale, you may get no tokens left.
Watch Your Gas
The Balancer LBP is an Ethereum smart contract, so it costs gas to interact with it. While there’s no limit to the number of transactions you can make, remember that it will cost gas every time. In the current market conditions, making lots of rapid trades or changing your mind could cost you more.
Also, make sure you adjust your gas settings to ensure that the transaction completes in a timeframe you’re happy with. All transactions sent to the pool with sufficient gas should complete, but if you set a low price then this could take some time, at which point the price you get could be significantly different from the one you saw when you initiated the transaction.
Don't create INSUR liquidity pools on other DEXes
While the LBP is in progress, and you have acquired your INSUR tokens, don't create liquidity pools on other DEXes (Uniswap, Sushiswap, etc) on your own which will cost you extra gas fee and subject to impermanent losses. InsurAce team will launch the liquidity pools on these DEXes with the funds raised during LBP with a larger liquidity pool, which will help more users who want to trade the tokens.
Legal Disclaimers
InsurAce has worked with Dentons, a Singapore based law firm on a legal opinion, in which it is concluded that INSUR token does not constitute any capital market product, nor payment service token. INSUR is a pure governance token for the community members to participate in the protocol governance.
NONE OF THE INFORMATION PROVIDED HEREIN CONSTITUTES ADVICE OF ANY SORT, INCLUDING TAX, LEGAL, FINANCIAL OR ANY OTHER ADVICE, NOR DOES IT CONSTITUTE A RECOMMENDATION TO PURCHASE OR USE ANY PRODUCT OR SERVICE.
DO NOT PURCHASE INSUR IF YOU ARE NOT FAMILIAR WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS.
Last modified 8mo ago