Step-By-Step Guide of Raze Network’s Public Sale on Balancer LBP
To all Razers,
Raze Network’s Public Sale Round will occur through a Balancer Liquidity Bootstrapping Pool (LBP) on April 13th, 2021. A total of 4.8M RAZE tokens (4% of total supply) will be up for sale during this round.
The LBP will launch at 3 PM (UTC+0), April 13th, 2021 and end at 3 PM (UTC+0), April 16th, 2021.
Since Balancer LBP (Liquidity Bootstrapping Pool) is public to all, we draft this guide to show you how to directly participate in $RAZE Balancer LBP Sale.
What is Balancer LBP?
Balancer is a decentralized exchange (DEX) that mainly provides two services, decentralized trading, and liquidity pool. And LBP (Liquidity Bootstrapping Pool) is a liquidity pool on Balancer that allows project teams to issue tokens through it. During the issuance period, users can exchange USDC or others with project tokens in just one click.
The Key Metrics about $RAZE LBP
$RAZE Token Address: 0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
$RAZE/USDC Swap Address: https://balancer.exchange/#/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
$RAZE LBP Pool Address: https://pools.balancer.exchange/#/pool/0x78ac4da23b147c589167cf0dbaa53adcb73306a1/
NOTE:
- A total of 4.8M RAZE tokens will be distributed to Balancer’s Liquidity Bootstrapping Pool (LBP) at 3 PM UTC on 13th April.
- RAZE LBP will run for 72 hours until 3 PM UTC on 16th April. The weight of Balancer Pool will be adjusted according to the market buying power.
- This round is open to all in a decentralized way. Please prepare all necessary tools in advance.
- The RAZE: USDC pool weight will start at 96:4 and decline to 40:60 over 72 hours. The Balancer LBP table can refer to the RAZE LBP Calculator.
- Below is a graph that shows the RAZE:USDC pool weight starting at 96:4 (with a high RAZE price) and declining to 40:60 (with lower RAZE price) over 72 hours.
- The trading experience is just like the usual Balancer Pool. If more people are buying $RAZE, the price goes up. Otherwise, the price goes down. Balancer LBP makes it harder for the price to go up though.
Reminder:
- LBP (Liquidity Bootstrapping Pool) is a variant of dutch auction or reverse auction. Its price will drop if no one buys as time progresses. Please learn how it works before participating in LBP and stay within reasonable price ranges. Don‘t FOMO. Balancer changes the weight of its predetermined pool weight to push the price down if no participant is buying.
- Due to the mechanism of reverse auction, the price will trend down automatically if no one buys. The declining slope is the steepest at the very beginning. Stay rational before any trade decisions!
- The default max slippage is 0.5%. Set it higher if you are buying with a relatively large order.
How do I participate in this?
Step 1: Install and Setup MetaMask
Users will require a Web3-enabled cryptocurrency wallet in order to interact with the smart contracts and swap tokens on Balancer. Wallet applications such as MetaMask, WalletConnect, Coinbase and Portis are supported by Balancer. For those who are using a DEX for the first time (in this case, Balancer):
NOTE:
- It may take two transactions to make a trade
- First you have to unlock the USDC token for trading on Balancer
- And then you need to swap for RAZE.
- You will have to click the button and navigate to Metamask twice
Step 2: Navigate to Balancer LBP Link
Make sure your wallet has sufficient USDC. USDC is an ERC20 token on the Ethereum blockchain that has a steady value of one US dollar.
- Navigate to the USDC/RAZE Swap page: https://balancer.exchange/#/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
- Or search the One And Only Token Address on Balancer: 0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
You can also search $RAZE LBP Pool Address for more details: https://pools.balancer.exchange/#/pool/0x78ac4da23b147c589167cf0dbaa53adcb73306a1/
Step 3: Complete Your Trade
Connect your wallet. We suggest MetaMask. If you don’t have MetaMask, get it. Once the transaction completes, you will be among the very first owners of $RAZE.
IMPORTANT!!!
The initial data collected indicates that there are more than 400,000 people trying to take part in the $RAZE Community Round, IDO Launch and Eco Launch, wildly exceeding what we predicted. So for that, we decided to increase the total offering amount on Balancer to 4.8M RAZE tokens, 4% of the total supply so that more interests can materialize. However, the start price and fully diluted market cap does not change.
The contract addresses of $RAZE tokens and the $RAZE/USDC swap and pool contract address on Balancer are provided below, respectively. Please make sure that you double check the token contract address on Balancer before confirming any transaction.
$RAZE Token Address: 0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
$RAZE/USDC Swap Address: https://balancer.exchange/#/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/0x5Eaa69B29f99C84Fe5dE8200340b4e9b4Ab38EaC
$RAZE LBP Pool Address: https://pools.balancer.exchange/#/pool/0x78ac4da23b147c589167cf0dbaa53adcb73306a1/
If you have any questions regarding this launch, please do not hesitate to contact us via telegram or simply give a shout-out to @R4ZE_Network on Twitter.
About Raze Network
Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zkSNARKs to the Zether framework to build a second-layer decentralized anonymous module. It will then be imported as a substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.
Contact Raze Network
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