Quick Guide to the Nftfy Launch on Balancer (LBP)
Balancer’s Liquidity Bootsrapping Pools have become increasingly common as a powerful tool for the fair launch model in DeFi projects.
The LBP is a Liquidity Pool that prevents the token price from going up exaggeratedly as happens in launches with 50/50 pools (Uniswap V2), often due to bot attacks and front running. This means, more people can buy tokens at a fair price defined by the open market. These LBPs last for a limited time, and after their end, projects start a traditional liquidity pool using the funds raised.
LBPs are an excellent opportunity for investors to enter serious and long-term projects with great upside potential. Which is why, as the last phase of our two-step launch and in order to provide the best experience for ordinary investors to acquire the token fairly and enjoy the benefits of early adopters of the project, the Nftfy Team has chosen this incredible tool for its official Liquidity Generation Event (LGE).
Nftfy Official LBP
The event will start on May 10th, at 13:00 UTC and run until May 12th, at 1:00 UTC, lasting for 36 hours.
Below you can find some parameters of our LBP:
- Token Max Supply: 100.000.000 NFTFY
- Token pair on Balancer Smart Pool: NFTFY/DAI
- Initial NFTFY balance: 2 million (2% of total supply)
- Initial DAI balance: USD 1,200,000**
- Starting weight: 90:10
- Ending weight: 30:70
- Starting price: $5.40**
- Swap fee: 0.9%
- $NFTFY contract address: 0xBf6Ff49FfD3d104302Ef0AB0F10f5a84324c091c
*The pool configuration can be changed before the smart contract official publishing.
**Due to the recent and quick grow of the community and also to create a better pool with more liquidity, the team has decided to increase the collateral to 1,200,000 DAI. This change causes a higher price at the beginning and a lower slippage (price impact) during the LBP, following the Balancer documentation.
As explained in our LBPs text and detailed in this article on how LBPs work, we will summarize all the information to address the most frequently asked questions in the community.
Uniswap listing
Due date: May 12th, at 1:00 UTC
Right after the end of the LBP, we will create a liquidity pool of NFTFY/ETH on Uniswap V2.
In addition, we will also create another liquidity pool of NFTFY/ETH on Balancer, since this protocol is the entire basis of technology and liquidity of the Nftfy tokenomics.
What’s next?
EARLY ADOPTERS BENEFITS
To benefit everyone buying in the LBP during these 36 hours and also the entire community of early NFTFY token holders, we will implement several incentive programs that will take place during and after LBP. See details below:
Staking Rewards
This program will run during the 36 hours of our LBP. All of those who buy tokens during the LBP will be able to stake their tokens and participate in the 10,000 $NFTFY farming distributed over 36 hours, being available for withdrawal right after the LBP. Therefore, everyone who enters the beginning of the LBP will be able to enjoy this benefit on their own.
LBP Early Community Rewards
All addresses participating in our LBP will be whitelisted and will have the possibility to be awarded at any time with Fractions of NFTs launched in Nftfy. This whitelist will be saved on Ethereum Blockchain to be accessed at any time for other rewards.
Super Farming
1 Million $NFTFY is reserved for Farming of sponsored pools during the first 26 weeks of operation of the protocol.
For the inauguration of the Farming, the Balancer pools of ETH/NFTFY and DAI/NFTFY will also be eligible for the program.
In addition to that, we will also bring new sponsored pools with other tokens as a result of strategic partnerships that Nftfy is carrying out.
FAQ
- Where to buy NFTFY tokens?
You will be able to buy NFTFY in the Balancer platform by accessing: https://balancer.exchange/#/swap
If you are on Nftfy’s website, you can click on the button “Buy on Balancer” to be redirected to the right place on Balancer protocol to purchase your tokens.
2. How to buy NFTFY tokens in an LBP?
Token swap is one of the simplest operations in DeFi and differs little from a regular swap. You just have to choose which token you want to pay (ETH, DAI, BAL…), and the system will inform you of the number of NFTFY tokens you will receive.
*Make sure you have ETH reserved for the fees of the operation.
3. What is the token price in the LBP?
In an LBP, the price is given according to a curve defined by the quantities and proportion between the two tokens ($NFTFY/DAI), which is constantly affected by new purchases. Therefore, it is possible to say that the price will be within this curve.
