Beethoven X
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Beethoven X

Beethoven X: Introducing Liquidity Boostrapping Pool Launch Platform

Dear Friends, Dear Ludwigs,

Our favorite thing in the entire world, and throughout our 251 undead years on this planet, is creating something new.

When composing, jamming is our favorite mode of creation, from deep within an idea for verse and rhyme bubbles to life, at first a few hesitant chords ring out and soon an orchestra is vibing with sound, joy and glory.

This epic feeling of creation is now in your hands dear friends, because today we introduce the new UI for the creation of permissionless Liquidity Bootstrapping Pool Launches on Beethoven X.

At its heart using a Liquidity Bootstrapping Pool (LBP)is the fairest, open and user-friendly way to participate in a token launch. The LBP mechanism is comparable to a crowdfunding that enables any kind of crypto project to raise capital from individuals all around the globe. Whales, middlemen, thirdparties geographies do not create an advantage, or disadvantage, and capital can flow freely to projects that the community deem deserving of it. The liquidity bootstrapping pool was originally developed by Balancer Labs and has now been brought to life on Beethoven X and the Fantom network.

In an Liquidiyu Boostrapping Pool Launch, in most cases, the price of the launch token is designed to decrease over the duration of the liquidity generation event. A high starting price disincentivizes bots, front-running and speculation. In a LBP, the launch token and the collateral token weighting within the pool changes (for example from 95–5 to 50–50) over the event thus creating the downwards pressure on price and the amplification of the starting capital. In reality, as anyone is able to buy or sell at any point during the event the buy pressure can outweigh the planned decay and the price can rise with demand.

Key Characteristics of fairer launch auctions using a LBP:

Beethoven X is a permissionless platform meaning anybody can create an auction and LBP on the platform.

Pool creation is easy and requires the team to complete a few steps which are documented in the docs, found here. Please note that we strongly suggest teams use a multisig wallet and the UI will warn users should this not be the case.

There will be a 2% fee applied on the collateral raised (endCollateral — startCollateral * .02). This fee will flow fully to the Beethoven X DAO treasury.

We hope that the liquidity bootstrapping pool for liquidity generation events will motivate many new projects to launch their token in a fairer and more transparent manner reducing the stress for all parties. Additionally, we hope that this will see a plethora of new projects join the Fantom ecosystem and co-create beautiful symphonies in this amazing community.

Christmas can truly come early this year and so the music continues to flow.



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