Coldstack To Be Launch on Balancer
First to market aggregator of decentralized data storages ColdStack announced that they will be launching on Balancer Liquidity Bootstrapping Pool (LBP)
ColdStack will auction up to 1.8% (900,000) of the total $CLS token supply and 1,250,000 USDC in a Liquidity Bootstrap Pool (LBP) by Balancer.
The LBP will launch at 13:00 UTC+0, May 11th, 2021, and end at 13:00 UTC+0, May 13, 2021.
- Starting Weight — 96:4
- Ending Weight — 45:55
- Starting price: $33.33 / CLS
- Duration 48 hour
The LBP is a decentralized auction that is similar to a dutch auction, offering a fair opportunity for participation and orderly price discovery. It enables participants to purchase tokens patiently without fear of missing out, as the deflationary mechanism will suppress the price over the entire LBP duration.
LBP Provides Other Strong Advantages
- equal participation opportunities for every participant
- eliminating any snipe bots and any related software that can give unfair advantages over participants
- more transparent and fair price discovery stage
- limited volatility
- direct participation without a third party
- available for over 48 hours, thus allowing participation from various time zones and countries
- no fcsc incentives and gas wars
Coldstack raised $1,350,000 in the Private Funding round and will use 92.6% of raised funds as initial LBP liquidity
ABOUT ColdStack
ColdStack is the simplest, fastest and most affordable way to unleash the power of Decentralized Clouds for the projects within the crypto space and beyond.
RESOURCES:
