$MGG IDO: Step-by-step Guide on How to Participate in TLA on Copper Launch

Published in

MetaGamingGuild

6 min readDec 19, 2021

The big $MGG token sale date is out!

MGG Fair Token Launch Auction will commence on December 20–23, 2021. The auction will take place on Copper Launch — the most open, transparent and user-friendly auction platform.

In case you want to take part in the upcoming $MGG Token Launch Auction (TLA), then we outlined everything you have to know on how to participate in the $MGG Copper Launch auction.

Essentially, this TLA is a public round sale that allows MetaGaming Guild to decentralize the $MGG ownership outside the core team, advisors and investors and into the broader community. This allows MGG DAO governance to be more open, accessible and fairer for the masses.

What is Token Launch Auction (TLA)?

Token Launch Auction (TLA) is a simple crowdfunding mechanism that enables projects and ideas from across the world to raise money from individuals without barriers to entry. No more middlemen, capital gatekeepers, or geographical constraints. No KYC or any sort of privileging of larger investors over smaller ones.

Token Launch Auction (TLA) is a unique configuration of Balancer’s Liquidity Bootstrapping Pools (LBPs). This allows crypto projects to create equitable liquidity and token distribution at launch, resulting in a fair and fully customizable token distribution that gives teams and DAO token holders control and flexibility for the long term.

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Primary Uses of Token Launch Auction (TLA)

Launch and/or distribution of ERC20 tokens
Drop collections of ERC-721 NFTs represented by ERC20 tokens

MGG TLA Details You Need to Know

Important Notes:

The Token Launch Auction will be deployed on Ethereum.
To participate, you must first have an ERC20 network wallet (specifically MetaMask Wallet) installed in your desktop browser or mobile device
To purchase, you will need enough fund in your wallet (ETH to pay for gas fees) and USDC (to buy $MGG)
Here’s a quick guide:

Step-by-Step Guide on How to Participate in $MGG TLA on Copper Launch

Visit the Copper Launch Token Launch Auction page at https://copperlaunch.com/auctions
Click “Connect Wallet” in the top right corner.

3. Select the option to connect your MetaMask Wallet to Copper Launch.

4. Make sure to select the Etherium and connect it to Copper Launch.

Note: Your wallet will show it is connected once the “Connect Wallet” button in the previous section shows part of your Ethereum/Polygon address and the color turns from blue to green.

5. On Copper Launch TLA Page, select MetaGaming Guild ($MGG).

Once you have selected the auction you wish to participate in, you will see all important information about $MGG TLA including the auction duration and current price.

6. Once you have successfully connected your wallet, select the amount of $MGG tokens you would like to buy, and proceed with 2 STEPS as follow:

Click the “Approve” button on your screen. You will also notice a prompt to allow the Copper Launch to spend your tokens of choice (we accept only ETH, WETH, USDC, and DAI).
Once you have been approved, the “Swap” button will be shown and you will be able to click “Swap”.

Note: To purchase, you will need ENOUGH FUND in your wallet (ETH, to pay for gas fees) and USDC (to buy $MGG)

That’s it! After successfully completing Steps 1 to 6, you have now participated in the $MGG Token Launch Auction (TLA). Thank you for your interest in $MGG IDO. 😉

EXCLUSIVE MetaGaming Guild Founders NFTs

MetaGaming Guild is happy to reward community members that have shown solid support to the project. Hence, MetaGaming Guild Founders NFTs is designed to reward our valuable MGG supporters.

During the MetaGaming Guild auction, TOP 100 CONTRIBUTORS will receive an exclusive Founders NFTs.

MetaGaming Guild will also put up a “Leaderboard” on the website to track the top contributors in real time. Please note that participants should have interacted with the MGG contracts from their respective wallet and must hold $MGG tokens at the end of the auction in that same wallet.

How Token Launch Auction (TLA) Works

When an individual makes a purchase, the transaction will cause the $MGG token’s price to increase. In contrast, the price of $MGG tokens will gradually decrease when no purchases occur.

When the price is at a point where you feel it is fair market value, you can begin your purchase. Meanwhile, you can read more about price weights and Copper Launch price decay model here.

Advantages of Token Launch Auction (TLA): 4 Key Features

Price discovery. The price of the token starts high and drops based on a pre-configured price decay curve that can be resisted by buying pressure from auction participants. Anyone can buy into or sell out of the auction freely at any time, so price truly regulates itself.
Open and permissionless participation. Freely launch tokens and participate in auctions. No whitelists, hard caps, or listing requirements. There is no minimum or maximum allocation. Auction participants choose how much they want to buy.
Fair distribution. TLAs flip the first-come-first-serve launch model on its head and change token launches from being a race where the first bot in or the transaction with the highest gas fee wins. Get your token into the hands of as many people as possible in a fair way that disincentivizes front-runners and whales getting better rates than smaller participants.
Capital efficiency. The initial price of the token being auctioned can be magnified by up to 99 times relative to the collateral deposited along with it. Additionally, the collateral can be fully retrieved at the end of the auction unless the auctioned tokens already exist outside of the TLA and someone decides to sell into the auction.

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Where Will TLA Proceeds Go?

All TLA proceeds will go to MGG Treasury, a smart contract entirely controlled by MGG token holders. To see the full details on how treasury funds are allocated in DAO, you may browse through our WHITEPAPER.

About $MGG

$MGG is the BEP20 and Polygon utility token that fuels the overall MGG ecosystem. Anyone who holds MGG tokens is considered a valuable MGG stakeholder and has power to shape the future of the project.

Aside from governance participation on DAO, $MGG token utilities include Liquidity Rewards, Guild Rewards and access to GameFi Vaults. For more details about $MGG token supply and distribution, check out our Tokenomics page.

We’re als proud to announce that the $MGG token is now listed on the world’s no.1 cryptocurrency-tracking website — CoinMarketCap.