Dec 14, 2021
Prime Liquid Launch (LBP) Guide
A how-To guide on participating in the D2D LBP
PrimeDAO is running a Balancer Liquidity Bootstrapping Pool (LBP) Liquid Launch via Prime Launch and has been curated by LBPLaunches.com.
The launch of $D2D is the next step in Prime’s development towards a headless brand; an open value network that builds effective organizational coordination tools to secure the collective future of DAOs all over the world.
The following articles provide a complete overview of the Prime (D2D) LBP and the how $D2D aims to accelerate cross-DAO coordination.
This article provides the details of the LBP, and serves as a guide on how to participate in the Liquid Launch event.
FAQs and more can be found on lbp.prime.xyz!
The D2D Liquid Launch
The D2D LBP is the first opportunity for the wider DAO community to get a hold of D2D.
The D2D Liquid Launch will run for 3 days:
Beginning at Dec 14, 2021 at 14:00 UTC
Ending on Dec 17, 2021 at 14:00 UTC
For more background on the D2D LBP, please revisit The Prime Launch Blog, and please visit this blog for a complete overview of Balancer LBP functions.
The D2D Liquid Launch Event Details
- Where: Prime Launch
- When: Dec 14, 15:00 CET to Dec 17, 15:00 CET
- Official D2D token address:
https://etherscan.io/address/0x43D4A3cd90ddD2F8f4f693170C9c8098163502ad - D2D Max Supply: 100,000,000
- LBP Base Pair: D2D/USDC
- Initial D2D liquidity provided: 7,000,000 D2D
- Initial USDC liquidity provided: 1,000,000 USDC
- LBP Weights: Starting at 96:4 and will gradually adjust to 50:50
- D2D LBP Starting Price: 3.43 USDC
- Balancer Pool Info: 0xbccd9d4b953ada653b7c464665d7263e5e078a980002000000000000000000ef
- Balancer Swap Fee: 1%
How to get D2D
We expect potential D2D holders to have some familiarity with Ethereum already. If this is your first time using Ethereum, please follow the additional steps provided by our friends of SpoolDAO in their LBP guide.
Get D2D via Prime Launch
The primary method to get D2D is by utilizing the Prime Launch app developed by PrimeDAO, which provides a clear overview of all parameters and allows for direct swaps using the Balancer V2. Protocol.
1. Go to lbp.prime.xyz to verify the Prime Launch URL and information
Read over the “How To” and ‘FAQ” for more details.
2. Click on the “Access D2D on Balancer via Prime Launch” Button
This button will link you to the Prime Launch dApp where you can contribute to the Prime (D2D) LBP. Do Cross-reference the information provided in the PrimeDAO Discord and Medium posts to be safe.
Keep in mind that the LBP finds a fair market value by starting at a relatively higher price and lowering the price over time by adjusting the weight ratios if there are no purchases
3. Check the Current Price of D2D
You can check the current price of the D2D token on the Prime Launch dashboard or directly on Balancer.
If the price isn’t agreeable to you, you can’t wait to see if others feel the same way. If no purchases are made, the price will decrease over time.
4. Connect your web3 wallet to the Prime Launch dApp
Connect with a compatible wallet, for example, Metamask, Walletconnect, or Trust Wallet etc. Accept the terms of services.
5. Enter the amount of USDC you would like to swap for D2D
Input the amount of USDC you would like to swap into the field and Prime Launch will estimate the amount of D2D tokens you should receive.
You can use other currencies that are supported by Balancer, but you may want to use USDC to minimize your potential slippage. Any other token will be routed through Balancer to be converted to USDC first before swapping to D2D tokens on the LBP. Ensure that you have enough gas to complete the transaction and ensure you account for increases in gas fees due to potential network congestion.
6. Approve Your Tokens for Swap
Before you can swap your ERC20 tokens for D2D, you must approve the smart contract to interact with the tokens in your wallet. Click on the Unlock Button and sign the transaction to approve your tokens. This transaction will cost some gas.
7. Click the “Buy ” Button to Swap for D2D Tokens
If you are satisfied with the estimated number of D2D tokens you will receive for the swap, click the “Get D2D” button to submit a transaction.
8. Wait for your transaction to confirm on the blockchain
Once the transaction is confirmed, the D2D tokens will enter your wallet.
Please keep in mind that trading ERC20 tokens (such as USDC or D2D) on Prime Launch requires two transactions: In the first transaction, you give Prime Launch approval to withdraw USDC from your wallet, and in the second transaction is the actual swap.
9. Congratulations! You are now a PrimeDAO member. Welcome to the community!
You’re officially part of PrimeDAO and have joined the mission to turn DeFi into a cooperative ecosystem. Come introduce yourself in our main virtual hangout, the Prime Discord.
Alternatively: Get D2D via Balancer
A shortcut for individuals that have already identified and want to execute a fast swap is by heading over directly to the Balancer Protocol and swapping USDC or any ERC20 listed on Balancer to D2D.
So, What’s The Best LBP Strategy?
The strategy you adopt will depend on your own requirements, however, there are some basic rules to follow.
Bear in mind that LBPs are a price-finding mechanism, so the price is relatively higher initially but may fall quickly if no trades are being made. You may want to consider factors such as the Fully Diluted Value (FDV) of all tokens and compare to some other projects that you feel have a similar value proposition. It pays to be cautious and not let emotions get the better of you. Participation in a LBP requires a degree of patience.
The Balancer LBP is an Ethereum smart contract so that it will cost gas fees. While you can make as many transactions as you like, it will cost gas every time. Making many trades will likely increase your expenses and thereby the overall cost of tokens, but Dollar Cost Averaging (DCA) may be a viable solution if you plan on contributing a significant amount to the LBP.
Remember to adjust your gas settings to ensure that the transaction completes in your required timeframe. If you set the gwei too low another transaction could take place ahead of yours, and the price could be significantly different from the one you saw when you initially executed the transaction.
That’s it! If you have any further questions feel free to reach out to the Prime community via our Discord.
About PrimeDAO
Prime’s mission is to turn DeFi into a cooperative ecosystem. While we are building these DAO2DAO products and services, we are paving the way for these interactions by dogfooding PrimeDAO itself into a headless brand — an open value network that builds effective organizational coordination tools to secure the collective future of DAOs all over the world.
We want to establish PrimeDAO as a hub for DAOs to come together and co-build DAO tooling and services. We have seeded this vision in our culture by collaborating with DAOs across multiple phases of researching, designing, and developing our products.
We’ve never been more confident that DAO2DAO interactions will drive the future of crypto networks.
If you are committed to enabling DAO 2 DAO innovation and are interested in collaborating with or getting involved in Prime, jump into our Discord now, and let’s get connected!
