Globe Official
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Globe Official

Announcing Globe $GDT Balancer Liquidity Bootstrapping Pool

Click here for the Balancer LBP Link

Globe will auction up to 3.5% (14,000,000) of the total $GDT token supply in a Liquidity Bootstrap Pool (LBP) by Balancer. The LBP will launch at 12:00 UTC+0, May 10, 2021, and end at 12:00 UTC+0, May 12, 2021.

Starting Weight — 95:5

Ending Weight — 30:70

Starting price: $3/GDT

Duration 48 hours

Please visit Globe Token Page to learn more details about $GDT.

What is Balancer LBP?

The LBP is a decentralized auction that is similar to a dutch auction, offering a fair opportunity for participation and orderly price discovery. The weighting of $GDT in the LBP decreases over the 48-hour auction. This deflationary pricing mechanism discourages front-running and sniping, lengthening the participation window and reducing price volatility during the auction.

The LBP enables participants to purchase tokens patiently without fear of missing out, as the deflationary mechanism will suppress the price over the entire LBP duration. The graph below shows how the deflationary mechanism is offset by inflationary buying pressure over the duration of the LBP.

The result is that whales are disincentivized from buying all the tokens at once at launch, giving more buyers a chance to catch the token at a fair price. Another important result is that it is not as expensive for the founding team to provide the initial liquidity necessary to facilitate the pool.

An LBP allows projects to create meaningful liquidity and distribution at launch in a capital-efficient way.

How to Participate in the $GDT LBP— The Basics

Participating in the public launch is simple. First, make sure you have USDC or any other asset that is supported by Balancer.

  1. Any time after the LBP starts on Monday May 10th at 12pm UTC, head to our dedicated token page, click the join Balancer LBP button, read and accept the disclaimer, and you’ll be taken to the dedicated GDT LBP.
  2. Connect a compatible wallet — MetaMask, WalletConnect, Portis, Coinbase Wallet, Fortmatic — and follow the prompts.

NOTE:

$GDT LBP is paired with USDC; other assets will result in greater transaction costs.

Ensure your wallet has sufficient ETH for gas charges.

Balancer requires two transactions: in the first transaction you approve Balancer to withdraw USDC from you and in the second transaction you do the actual swap.

3. Insert the amount of $GDT that you wish to purchase and select “SWAP”

6. $GDT will be in your wallet when the transaction is complete.

That’s all there is to it! Once the transaction confirms, you’ll be one of the first people to hold liquid GDT tokens. Congratulations!

For more information on how it works, visit Balancer LBP FAQ.

About Globe

The Globe’s fairest & fastest crypto exchange built by Y Combinator alumni. Trade BTC, ETH, and DeFi Tokens with more leverage via perpetual futures contracts.

Sign up now and trade with testnet bitcoin at: globedx.com

Join our community channels:

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