As the $TRACK LBP on Fjord Foundry draws near, we thought we would give you a few pointers on how to participate and what to watch out for.
The LBP (Liquidity Bootstrapping Pool) will begin on 05 April 2023 at 4 p.m. UTC and will run for 72 hours until 4 p.m. UTC on 08 April.
Contributions have to be made with WETH (Wrapped Ethereum) which you can obtain via Uniswap and all other Exchanges listed here on Coingecko.
$TRACK is Launching on the Ethereum Chain.
Participate in the LBP —
(you can contribute once it opens!)
https://fjordfoundry.com/pools/mainnet/0x63f040B8AF2B53f3c251de960f2AeEA88f5f3275
What is an LBP?
Liquidity Bootstrapping Pools (LBPs) are pools that can dynamically change token weighting. LBPs use Weighted Math with time-dependent weights. The starting and end weights and times are selected by the pool owner, who also has the power to pause swaps. In the case of the $TRACK LBP, the weighting will start at 90% $TRACK and 10% $ETH and at the end of the 72 hours will have transitioned to be 90% $ETH and 10% $TRACK.
During the 72 hour LBP, the price will gradually decline over the 72 hour period at a set rate and this can be countered by buy pressure. The stronger the buy pressure, the less the price decreases.
You can buy and sell $TRACK during the 72 hours as the price will be constantly fluctuating. Whilst the sales tax on $TRACK will be turned off during the LBP, there will be a 2.5% swap fee to discourage bots.
Where is the LBP going to be held?
We will be launching on Fjord Foundry, a platform for Fair Launch Auctions (FLAs) — a simple crowdfunding mechanism that enables projects and ideas from across the world to raise money from individuals without barriers to entry. Fjord makes it easy to create and use LBPs through their intuitive and easy-to-use website. The main concept allows distribution of Tokens with a transparent, open and fair price discovery mechanism. Fjords long-standing reputation led to a recent exclusive collaboration agreement between the Balancer DAO and Fjord Foundry.
DeFi Knowledge Required!
As LBPs are more complex than traditional token sales,
Fjord Foundry will ask a few questions before you can contribute to check your DeFi knowledge.
It is worth answering these yourself but if you do get stuck, here are a few hints! Please note that these won’t be the exact questions but should give you a head start.
1 — What is the transaction hash of the creation of the LBP?
-
0xe985eb6888c44551f52adff07009806b1b54ae670af0d20bf8ce198b5785de38
-
2 — What is the contract address of the LBP?
-
0x63f040B8AF2B53f3c251de960f2AeEA88f5f3275
-
3 — If the buy pressure is less than the price decrease formula, what will happen to the price of $TRACK?
-
It decreases
-
4 — What is the wallet address of the LBP owner?
-
0x352e63D93b4d51427900F5AA45Bd8CEB707bfBad
-
What happens after the LBP?
Once the LBP has been completed, the team will prepare the raised funds for listing on Uniswap and a listing announcement will occur through our channels.
Remember, all funds raised will be used towards liquidity on Uniswap and seeding the DAO.
Come to the Track-Side and never look back.
-
Many thanks for reading. Please send us any questions or inquiries via our community on GM.xyz or Twitter DM if you have any!
All the best, Stephen.
-
Website — TrackDAO.org
Twitter — @NFT_TrackDAO
Community — @ TrackDAO
