Liquidity Bootstrapping Pool (LBP) is an adjustable Balancer smart contract that is used for initial distribution and price discovery of new assets. It creates a constant selling pressure over a fixed time period, leading the price to continually drop if there is no demand. Smart pools are controlled/private pools that are owned by a smart contract which enables any sort of arbitrary logic to be built.
Please understand how LBP works before you participate and make sure you buy it at a reasonable price, not FOMO. If no participant purchases, Balancer will change the pre-determined pool weight to drive down the price.
O3 will be using an LBP to distribute 3.5% of the total token supply of its governance token, $O3 in a pool running from 7:00 May 13th — 13:00 May 14th, 2021 UTC.
O3 LBP Key Parameters
At the beginning of LBP, we will invest 3.5 million O3 and 800,000 USDC at a starting price of $5.49 each.
Please see the details below
O3 Token address: 0xEe9801669C6138E84bD50dEB500827b776777d28
- Need not FOMO
Since LBP uses a Dutch-style auction, the price will gradually fall if no one buys as the weighting changes. Therefore, there is no need to rush into the purchase. The logical strategy is to wait for prices to move into what you think is a reasonable range before buying.
- Pay attention to the sliding point setting
The default slide point is 1%. If you buy a large quantity, please pay attention to setting a reasonable slide point value to ensure you can buy in time.
- Do not establish a flow pool by yourself
Do not set up your own flow pool before the end of the LBP activity, otherwise, it may increase your costs.
- Trading is risky and investment needs to be cautious
This article does not constitute any investment advice, the user is responsible for the risk of the transaction. If you are not familiar with crypto assets, you are advised to participate with caution.
How to buy
1. LBP will start at 7:00 (UTC) on May 13
Click to https://legacy.balancer.exchange/#/swap
2. Click “connect” in the upper right corner and select the wallet as shown in the figure.
3. Once you have set up your wallet, go back to the home page and select “assets”.
The O3 LBP will be comprised of two assets: O3 and USDC.
Trading pair O3/USDC
Please make sure you have enough ETH in your wallet to pay the gas fee.
If you choose another asset, Balancer will automatically convert it to USDC and swap it to O3. Additional steps may lead to an increase in transaction costs.
4. Enter the contract address of O3: 0xEe9801669C6138E84bD50dEB500827b776777d28
Please make sure the address is correct.
5. Enter a reasonable price and quantity then click exchange.
How to participate in O3 swap Stable Coin Cross-chain Mining
By adding the liquidity of Ethereum / BSC / Heco mainstream blockchain networks to cross-chain pool in Hub, deposit generates cross-chain stable currency LP （USDT/BUSD/HUSD), referred to USD-LP.
Later, in the Vault interface, stake USD-LP to get O3 Token reward, the status of O3 is to be locked.
Through Get LP into Uniswap and adding O3 / USDT liquidity to generate USDT-LP, this LP proof-of-stake can generate two benefits:
1. click “Stake” to participate in mining to get the O3 Token reward, the status of O3 is to be unlocked.
2. click “Stake” to unlock the locked O3.
The circulating O3 in Swap can be directly staked to obtain locked O3 rewards.
DISCLAIMER: The text above is a description of how the O3 Swap LBP works in Balancer. Any photos mentioned serve as an illustration. Engaging in LBP without the necessary skills or experience can result in a loss of funds.