BFC Initial DEX Offering (IDO) on Uniswap (UPDATE)
Initial DEX Offering (IDO) for Bifrost token (BFC) on Uniswap will be happening at approximately 11:00 A.M. UTC on Tuesday, December 1st, 2020.
Details of Uniswap Listing
Bifrost will create a BFC/ETH pair in Uniswap at approximately at 11 AM UTC on Tuesday, December 1st. Bifrost will initially deposit 21,441,070.9099 BFC and 1,120.9286 ETH. The price of ETH may change on the day of the IDO, so we will announce the price of BFC tokens before.
(UPDATE) All BFC investors who purchase BFC during the IDO can start trading BFC on Tuesday, December 1 at 11:00 AM UTC. All previous BFC investors, including private investors and public investors, will be able to trade BFC on Uniswap starting Wednesday, December 2 at 11:00 AM UTC.
(UPDATE) As of Tuesday, December 1 11:00 AM UTC, BFC Uniswap Initial Price is 1 BFC = 0.00005228 ETH.
Uniswap is a fully decentralized protocol for automated liquidity provision built on Ethereum that has brought notable changes to cryptocurrency trading and has been a catalyst of the recent surge of DeFi projects.
The BFC token has two functions in the Bifrost ecosystem:
- BFC token will be used as a transaction fee in Bifrost ecosystem.
- To use Bifrost or to join the Bifrost Ecosystem, a certain amount of BFC token must be staked in Bifrost.
What is BFC Token Distribution Plan?
Bifrost initially created 4B BFC tokens. Bifrost will deposit 25M BFC tokens into the Uniswap liquidity pool, as mentioned above. Tokens from the Private Sale will be unlocked as follows: 23% at 11 AM UTC on December 2nd following our IDO and 7% every month thereafter for 11 months. Besides the amount of Private Sale and Initial Deposit on Uniswap, 2.56B BFC tokens have been allocated for Bifrost Reserve, Ecosystem, Team, and Advisors. BFC tokens for Ecosystem, Advisors, and Team will be distributed over a 5-year span, with a 1 year lock-up and a 4-year vesting period. 415M BFC tokens will be allocated for marketing. Among that, 1M BFC tokens will be distributed during the IDO and 6.9M BFC tokens can be distributed every month for 5 years.
Bifrost is a multichain middleware platform that enables developers to create Decentralized Applications (DApps) on top of multiple protocols. Not restrained to a single blockchain, Bifrost creates a new environment where developers can combine the best protocols to develop substantially more scalable and flexible DApps.