How to take part in the Nitro League Copper Launch Auction
The Nitro League Token Launch Auction on Copper is happening on the 14th of December and here is everything you need to know.
CopperLaunch is the most open and user-friendly way to participate in a Token Launch Auction (TLA). A TLA is a permissionless price discovery mechanism that enables projects and ideas from across the world to raise money from individuals without barriers to entry.
Copper uses the unique “Balancer Liquidity Bootstrapping Pool” system for its auctions, a system that allows open, transparent, and user-friendly token launch auctions. This means that anyone and everyone can participate and get their hands on some $NITRO tokens.
Auction details:
Start Date: 14 December, 4:00 PM UTC
End Date: 16 December, 2:00 PM UTC
Exchange listing: TBC
Sale Duration: 46 hours
Platform: Copperlaunch.com
Starting price: $0.6
Initial $NITRO pooled: 16,666,666
Initial USDC pooled: 2,000,000 USDC
Starting weights: $NITRO 83%: USDC 17%
Ending weights: $NITRO 31%: USDC 69%
Starting price: $0.6
Ending price: $0.06
Copper’s Take on BLBPs
Copper operates Token Launch Auctions (TLAs), which are a particular type of BLBP. This method of releasing tokens for sale removes middlemen and geographical limitations. Investors with deep pockets and modest means stand on equal footing in terms of access to these tokens. This equalizes the opportunity to acquire stakes in the extremely early stages of promising projects.
In summary, BLBPs on Copper are open, transparent, and user-friendly.
With Copper, the price of a token decays overtime when the pool is open, following a predefined downwards trending trajectory. When the demand for the tokens is high, the price of the tokens gets bidded up by the auction’s participants, hence counteracting the decay by shoring up the price, slowing down the token’s deterioration in value, and can cause the price to stabilize or even increase.
But how do I participate?…
Purchasing $NITRO on CopperLaunch is easy, here’s how to do it:
- Head to Nitro League on CopperLaunch (select Ethereum chain)
- Download a MetaMask wallet to your mobile device, or install the MetaMask Chrome/Brave browser extension for your desktop if you don’t have it already.
- Buy USDC and ETH on an exchange, for example, Binance or KuCoin, and send both to your wallet. (You will need ETH either way for Gas fees)
- Once the Copper pool is live go to Copperlaunch.com in your browser with the MetaMask extension (or in your MetaMask Dapp browser).
- Once in Copper, connect your wallet and connect to “All Auctions”.
- Find the Nitro League ($NITRO) auction.
- Select the Nitro League auction and you will be able to see all the information about the auction and what the current price is. The auction starts at a price of $0.6 and will have a duration of 46 hours.
- Here is where you can begin to buy $NITRO with your USDC (Ethereum Network)
- To take part in the auction, you will have to swap USDC to buy $NITRO — which will arrive directly to your MetaMask. For $NITRO to be visible in your MetaMask you will have to manually import the token contract address which is available on our Copper launch page.
- That’s it! You now have your very own $NITRO tokens.
If you have any questions at all, please reach out to our team on Telegram or Discord!
Exclusive Nitro League Founders NFTs
We believe in rewarding our community, especially the early supporters, that is why we have decided to partner with Terra Virtua to reward our early supporters with exclusive “Founders NFTs” to the top contributors during our Copper Launch Auction!
Top 50 contributors will receive a Founders Nitro Car and a Founders Terra Virtua VFlect
Top 51–100 contributors will receive a Founders Nitro Car
Top 101–200 contributors will receive a Founders Terra Virtua VFlect
Please note that participants need to interact with the BLBP contracts from their respective wallet and must still hold the $NITRO tokens at the end of the BLBP in that same wallet. People who buy and sell within the 46 hour Copper Launch Auction period are not eligible for the Founders NFT’s.
Why are we using Coppers “Balancer Liquidity Bootstrapping Pool”?
Having an open, transparent, fair and user-friendly token launch is the number one priority for the Nitro team, which is why we chose to implement the LBP system.
Simply put, the LBP system allows an auction where the price starts high and then falls until a buyer is found, matching supply and demand. This allows for a natural and fair price discovery process in line with the demands of the community.
In our case, the price of the project raise token will begin at $0.60 and will continue to fall to meet buyer demand until the raise period ends. At the completion of the raise, the value of the token is determined. In this way, investors with a smaller amount of capital have a chance to get in on the action, without worrying about a whale who may enter the auction and buy all the tokens and alter the price of the token.
With a huge community of investors and supporters, we are extremely excited and proud to launch our token on Copper, and make it accessible to as many members of our community as possible!
