BreederDAO Public Sale — Token Launch Auction (TLA) On Copper
BreederDAO is excited to announce the official launch of $BREED, the token that powers the BreederDAO Factory and allows entry and membership into the DAO!
As a community-focused project committed to the ethos and founding principles of the blockchain space, we are pleased to announce the launch of BreederDAO’s native token: BREED. The Token Launch Auction (TLA) will be open to all interested and qualifying parties. Launching BREED token also marks a major milestone for the BreederDAO ecosystem, and speaks to the viability of its core technology and business model as it become a critical service provider for platforms in the blockchain gaming space.
In the spirit of equal distribution, fairness, decentralization and a community-first ideology, BreederDAO is proud to announce that it will be conducting the Token Launch Auction for BREED starting April 26, 2022 2:00pm UTC on Alchemist’s Copper platform. Its mission is to give everyone in its community an opportunity to become a stakeholder in the BreederDAO ecosystem, and want to extend that opportunity as fairly as possible. It is through conducting a Token Launch Auction on Copper platform’s Liquidity Bootstrapping Pools (LBPs).
Explaining Copper’s Token Launch Auction and Balancer’s Liquidity Bootstrapping Pools
Copper platform supports the most decentralized, open, and user-friendly method of conducting a Token Launch Auction (TLA). BreederDAO has chosen the Copper platform for TLA because they believe it provides an avenue for fair distribution and price discovery. Since it is a decentralized and permissionless platform, the auction is free, open, and accessible — there will be no whitelists, gas wars, or individual caps. BreederDao is confident that Copper will help them facilitate an equitable and seamless distribution of the BREED token.
Copper is powered by Balancer’s Liquidity Bootstrapping Pool (LBP) that pairs two tokens and automatically adjusts their relative weights over the course of the LBP, enabling high to low price discovery by the community throughout the duration of a token launch. The LBP presents an innovative technique that allows market participants to determine a fair price for the BREED token.
Unlike other liquidity pools where the ratio between a pair of tokens is fixed at 50:50, in Balancer’s LBP model a token pair’s weights are flexible and change over time. The moment the TLA starts on April 26, 2022 2:00 p.m. UTC, the weight of the pool will be set at 96:4 (BREED/USDC). The weight will gradually decrease over the course of the launch period until it reaches a final ratio of 50:50.
Throughout the TLA’s 72-hour duration, interested parties can swap their USDC, DAI, ETH, and WETH for BREED tokens. In the absence of trading activity, BREED’s price will gradually decrease, arriving at the final pool weight ratio of 50:50. Anytime BREED is purchased during the launch, its price will increase. It is through this method that the price of BREED will be dictated and discovered by the market, and by which BREED will be distributed fairly to all interested participants.
Token Launch Auction Details
- Start date: April 26, 2022 2:00 p.m. UTC
- End date: April 29, 2022 2:00 p.m. UTC
- Total Duration: 72 hours
- Blockchain: Ethereum
- Minimum Purchase Amount: None
- Tokens Accepted: USDC, DAI, ETH, WETH
- Token Pool Allocation: 75,000,000 BREED : 4,687,500 USDC
- Starting Weight: BREED 96% : USDC 4%
- Final Weight: BREED 50% : USDC 50%
- Starting Rate: 1.50 USDC for 1 BREED
ABOUT BreederDAO
BreederDAO is the NFT asset factory of blockchain games. They provide high-volume asset production, tailored to specification, for some of the largest guilds in the Metaverse so they can supercharge their Play-To-Earn economies.
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