🌊Liquidity Bootstrapping Pool
Last updated
Last updated
SHFL is launching their Liquidity Bootstrapping Pool (LBP) to raise liquidity for the full SHFL launch. The LBP will begin on March 10th at 22:00 UTC to March 12th at 22:00 UTC. The LBP will be hard capped at 20,000,000 USDC. Up to 5% of the token supply is available in the LBP.
Link: https://app.bazaar.money/launch/rSHFL Key Info:
Start Date & Time: Sunday, March 10th 2024 - 22:00 UTC
End Date & Time: Wednesday, March 13th 2024 - 22:00 UTC
Chain: Ethereum
Hardcap: 20,000,000 (twenty million) USDC
Available to Purchase with: USDC
Starting Token Price: $1 USDC
Starting Weight: 95 / 5
Ending Weight: 20 / 80
Vesting: None
LBP Concluded:
End Price: 0.67093
Hardcap: Hit, concluding the sale
Liquidity Seeded Date: March 13th, 6:52 AM UTC
The initial price of the SHFL token will be $1. The token price will follow along a predetermined price curve, which can be affected by buys and sells in the pool. Anyone can buy or sell SHFL tokens in the LBP at anytime, up until the sale ends or the hardcap of 20 million USDC is achieved. Once the sale is complete, liquidity will be seeded and users will be able to claim their SHFL. All unsold SHFL tokens will be returned to the treasury, to be used for future operations. USDC raised from the LBP will be used to seed initial liquidity for SHFL trading, as well as raise limits on the core platform. All details about the LBP will be communicated through our official channels: our Twitter and the official SHFL documentation. A Liquidity Bootstrapping Pool (LBP) will be utilised to seed the initial on-chain liquidity for SHFL trading. LBPs are innovative mechanisms designed to create initial liquidity for new tokens while minimising the risk of early price manipulation. These protocols operate by allowing the project to gradually sell tokens into a liquidity pool over a set period, with the price initially set high to deter large purchases - the price slowly decreases to find a natural market price equilibrium. This approach encourages a fair distribution and price discovery process, enabling projects to bootstrap liquidity in a controlled and democratic manner.
The LBP will give SHFL strong initial on-chain liquidity and allows for users and traders to purchase SHFL via a decentralised and permissionless method.
SHFL has partnered with Bazaar for our LBP: a decentralised, chain-agnostic launchpad built to provide crypto-natives with a fair, community-centric approach to fundraising. Bazaar is partnering with Across Protocol to enable seamless cross-chain swaps, allowing users to participate in launches from any supported chain of choice. Across is an interoperability protocol powered by intents – the only cross-chain intents protocol in production today, enabling the fastest and lowest-cost interoperability solution without security tradeoffs. Bazaar’s cross-chain routing is powered by Across+, a framework for cross-chain bridge hooks that abstracts away the tedious process of manually bridging for the end user. We’re incredibly excited to be working with them for the launch of the SHFL token. With Bazaar, any user that wants to take part in SHFL’s LBP will be able to cross a multitude of different chains: Ethereum, Base, Arbitrum, Polygon, ZkSync and Optimism. SHFL tokens will ultimately be claimed on Ethereum mainnet. The SHFL LBP will be active for a total of 3 days, but can end abruptly depending on if the LBP hardcap is reached. If the hardcap is hit, SHFL trading will be paused and liquidity will be pulled from the LBP. This liquidity will then be used to create the SHFL-USDC Uniswap pool, with the final price of the LBP being the first price for the Uniswap pool. Once the Uniswap pool is seeded, users on the platform will be able to claim their first of many SHFL airdrops and full SHFL platform functionality will be enabled. Once the sale is complete or the hard cap is reached, users will be able to claim their SHFL tokens once the liquidity has been seeded from the LBP. Users will be able to claim their SHFL tokens, and freely trade them with no vesting. SHFL can then be deposited on the platform to take advantage of the bonuses that SHFL gives you as a wager asset on Shuffle.com or freely traded. Make sure to keep up to date with SHFL by following both Shuffle and Bazaar on Twitter. All links related to the LBP or SHFL will through our official links only. To confirm you are using the correct link, alway refer to the official SHFL documentation.
