Buy $SEA here: https://copperlaunch.com/pools/0x55eBdd8e500e7b122e01eBf0b516C536280B2a1B
Stake $SEA here: http://yggsea.vault.inc
The token sale for YGG SEA, the first subDAO of Yield Guild Games, goes live at 10 p.m. Bangkok time on May 9, 2022 (11 a.m. EST / 3 p.m. GMT) via the Copper platform by Alchemist. This will be an opportunity for our community to get their hands on the SEA token that will open up a world of opportunities in the YGG SEA ecosystem.
The following is a guide on how to participate in the Copper platform. However, it is not a replacement for your own research and does not include any technical analysis of any sort.
Balancer is an automated market maker (AMM) that allows users to contribute liquidity so that decentralized exchanges can facilitate buying and selling of specific token pairs. Whereas SushiSwap and Uniswap aim to keep their pools at a 50:50 equilibrium between two assets, Balancer allows for the ratio of assets in the pool to slide. This is the key concept behind the determination of the fair market price for SEA tokens.
Balancer Liquidity Bootstrapping Pools (BLBP), as the name suggests, allow YGG SEA to bootstrap its own liquidity pool for the SEA token using the Balancer AMM so that the market can start to buy and trade SEA tokens. To start the BLBP, YGG SEA deposits 75,000,000 SEA tokens and US$2,000,000 worth of USDC into the liquidity pool. This is a ratio of 95 SEA : 5 USDC based on a theoretical SEA market capitalization of US$500 million. Over the course of the five days, that Balancer ratio will be adjusted organically until the liquidity pool reaches 50:50 for SEA and USDC.
LAUNCH DETAILS
The following outlines the key details for the upcoming launch:
YGG SEA COPPER LAUNCH DETAILS
- URL: yggsea.io / yggsea.vault.inc
- Launch (Time and Date): Monday, May 9, 2022
10:00 p.m. Bangkok / 11:00 a.m. EST / 3:00 p.m. GMT - Duration: 120 hours (5 days)
- End (Time and Date): Saturday, May 14, 2022
10:00 p.m. Bangkok / 11:00 a.m. EST / 3:00 p.m. GMT - Starting Price: $0.50 USD
- Starting Pools: 75,000,000 SEA : $2,000,000 USDC
- Starting Pool Ratio: 95:05 (SEA:USDC
- Ending Pool Ratio: 50:50 (SEA:USDC)
WHAT YOU NEED TO PARTICIPATE
- ERC-20 compatible wallet (Copper is designed to use MetaMask, WalletConnect, Gnosis Safe and Ledger)
- Sufficient USDC to purchase your desired number of SEA tokens
- ETH for gas fees for two transactions (approval and transaction)
HOW TO BUY
CONNECTING TO COPPER
STEP 1.
You can visit the project launch page directly by going to our homepage at https://yggsea.io
Alternatively, you can visit https://copperlaunch.com. Click on “View Auction” and you will find YGG SEA in the first list called “LBPs by Balancer Intern”.
Prior to the auction starting, the page will look like this:
STEP 2.
READ THE WARNING by Copper and accept if you believe you have understood the implications and are willing to proceed.
STEP 3.
Connect an ERC-20 wallet. For the sake of this guide, we will use MetaMask. Make sure your MetaMask wallet is unlocked, check the Copper URL is secure, then click “Connect Wallet” in the top right of the screen. You will be asked to click “Connect” from within MetaMask.
If done successfully, you will see the “Connect Wallet” button replaced with a green button showing the start and finish of your Ethereum Address.
PLACING YOUR ORDER
In the center of the screen, you will find the key auction details such as duration, current price, percentage of tokens sold at the top and the funds raised, as well as the graph that shows what has happened and what may happen in the center.
Once the auction starts, the “SEA Price” line will show how the price is affected by the purchases. This may change dramatically in the first few hours of opening until it finds the market price and will then fluctuate as the market demands until the end of the launch window. During this time, the “SEA Predicted Price” shows the hypothetical price without market activity.
STEP 4.
To the right of the Auction Graph, you will see the “Buy SEA” widget, which will be familiar to those who have used any of the major decentralized exchanges in the past. The system will default to USDC.
STEP 5.
You then need to enter the amount you would like to swap for SEA based on the current price. The lower half of the widget will show you how many SEA tokens you will acquire once you enter your budget in USDC.
STEP 6.
If it is your first SEA transaction, you will need to click “Approve for Trading”. This step is designed to give Copper the authority to interact with your wallet. Click “Approve for Trading”, which will open MetaMask. Check the gas costs and click “Confirm” to proceed.
STEP 7.
Once the approval transaction is confirmed, the button will change to “Buy SEA”. Check the details are all still correct and click “Swap”. This will again open MetaMask for you to confirm the purchase of SEA tokens.
STEP 8.
Upon confirmation of the transaction on chain, the SEA tokens will be transferred to your wallet. You may need to add SEA to your MetaMask. Open MetaMask and click “Import Token” at the bottom of the panel. Click on the Custom Token tab and add the following information:
Contract: 0xff9fEa2666AC0b074A1a53579FF95ADd4df0601a
Token Symbol: SEA
Decimals: 18
STEP 9.
Once you have acquired your SEA tokens, get ready to stake your tokens and earn SEA as rewards. People who stake their tokens while the launch is still live have the chance to earn additional rewards.
THE LEADERBOARDS
The YGG SEA community who participate in the public sale and hold their tokens are eligible to earn extra rewards. The top contributors who buy and stake their tokens between 1 to 12 months will be eligible to share 5 million of the token supply. These tokens will be claimable every six months and vested over a 24-month period as rewards for ongoing commitment to YGG SEA. Post launch, we will be putting half of the total liquidity into a decentralized exchange. Further information on the stake and reward of YGG SEA tokens will be forthcoming shortly.
About YGG SEA
YGG SEA, the first subDAO of Yield Guild Games, is a decentralized autonomous organization for acquiring and managing NFTs used in the metaverse. Its mission is to create the biggest and most sustainable play-to-earn virtual economy in Southeast Asia. YGG SEA is a founding member of the Asia Blockchain Gaming Alliance.
For more information, visit: Website | Twitter | Discord | Telegram
