Why we chose CopperLaunch.com for our JCG auction

As most of you will know, JustCarbon will be conducting an auction of our governance tokens, the JCG, between Tuesday the 17th and Thursday the 19th of May. The auction will be held on CopperLaunch.com ─ a platform designed for fair token auctions.

One of the things we like most about Copper is its ability to ensure a fair distribution of tokens and a natural price discovery mechanism.

Ensuring Fair Distribution

The Copper platform is decentralized and permissionless, meaning it is free to participate in the auction (aside from a small transaction fee charged by JustCarbon and the Copper platform). As such, Copper offers unparalleled accessibility for all. There is no whitelist to work your way onto, no individual caps limiting people, and no gas wars that give preference to whales.

Copper’s Price Discovery Mechanism

Price discovery is also unparalleled on Copper. Rather than fixing the liquidity pool ratio at 50:50 between JCG and USDC, Copper utilizes Balancer’s Liquidity Bootstrapping Pool (LBP) model. In this model, the token pair ratios are flexible, changing over time as people buy/sell JCG tokens.

Token ratios will start off at 97:3 (JCG/USDC) and will work their way towards 70:30 as people purchase JCGs for USDC. During the auction, the price will fluctuate ─ going up as people purchase more JCGs and down when trading activity is quieter or people sell their JCGs. As such, buyers can time their entry at a price that feels right for them.

This mechanism also deters whales, snipers and bots from front-running ─ scooping up the initial supply and selling them later at an inflated price ─ unlike traditional batch auctions.

The result of this mechanism is a natural price discovery that gives every participant an opportunity to enter the auction at a price where they are comfortable. It also gives us the opportunity to test the upper and lower values for JCG tokens, which should help minimize extreme volatility once the auction is over and the tokens go live on exchanges.

Other Benefits of Copper

Beyond the auction itself, Copper platform provides a number of other benefits.

Primarily, Copper is a well-proven platform. A number of token auctions have taken place successfully via Copper and the benefits of fair distribution and price discovery have been demonstrated on each launch.

Copper is also one of the easiest auction sites to navigate. Buyers can connect their Metamask wallets directly to the platform, negating the need to send tokens back and forth which can delay purchases and cost additional gas fees. Registration is straightforward and reliable, with a small questionnaire to validate your understanding of the JCG, leading to the easiest possible process.

Simply head to CopperLaunch.com and click “Connect Wallet” in the top-right corner to get started.

The auction will launch on the 17th of May. If you’d like to get involved, check out our how-to guide for a step-by-step walkthrough of the process. Be sure to follow our social channels and Telegram group for more information.

Note on Security

While both Copper and Metamask are proven and secure services, scammers will often try and steal users’ tokens through various methods. To help protect your wallet, always be sure to follow these simple rules:

1. Never disclose your seed phrase to anyone ─ not JustCarbon, not Copper, not Metamask. None of us will ever ask for your seed phrase.
2. Do not save your seed phrase on a digital device ─ if the device can be hacked, the seed phrase can be accessed.
3. We will never contact you first ─ if anyone reaches out via Telegram, Twitter or any other means of communication, please report it to us immediately. If you contact us, we will do our best to reply within 24 hours on the same platform.
4. Always double-check addresses where you are sending coins/tokens ─ malware can infect your devices, changing the addresses you paste. Copying addresses manually can also lead to user error, so it’s always worth double-checking before sending tokens.
5. Use a strong password and 2-Factor Authentication (2FA) to help secure your wallets, accounts and devices.
6. Never use public WiFi ─ they are often unsecured allowing people to gain access to your device.
7. Ensure you are on the correct website ─ connecting your wallet to fake websites can allow people to access and drain your wallet. Double-check the website address before connecting your wallet and look out for the padlock symbol in the address bar to ensure it is a secure HTTPS website.