Source: O3 labs
Disclaimer: This article describes how O3 Swap LBP works in Balancer. All images mentioned are for reference, and participation without basic knowledge of LBP may result in loss of assets, so please be aware!
How to participate in LBP
What is LBP?
LBP (Liquidity Bootstrapping Pool) is a Smart pool that changes the weight of tokens in the pool over time, and is a variation of the Dutch auction or reverse auction. Over time, if no one buys it, its price will drop.
Please understand how LBP works before participating in it and make sure to buy within a reasonable price range and not FOMO. if no participant buys, Balancer will change its pre-determined pool weights to depress the price.
O3 LBP will be offered on May 12, 2021 and will end on May 13 at 21:00 for 30 hours. We will use Balancer’s Liquidity Boot Pool (LBP) to auction 3.5% of the total supply of O3 tokens to capture the true value of O3.
O3 LBP Key Parameters
At the start of the LBP, we will commit 3.5 million O3 and 800,000 USDC at a starting price of $5.49 per token. For more details, please see
O3 Token Address.
1, Because it is a reverse auction, stay rational before making any trading decision.
2, the default maximum slippage is 1%. If you have a larger order, please adjust the slippage higher.
How to buy
1, May 13, 15:00 LBP start, click https://balancer.exchange/#/swap.
2, click on “Connect” in the upper right corner and select the wallet as shown in the picture.
- After connecting your wallet, go back to the home page and select “Assets”.
In LBP, you can buy O3 as a trading pair O3/USDC.
Please make sure you have enough ETH in your wallet to pay the gas fee.
If you choose another asset, Balancer will automatically convert it to USDC and then trade it as O3. The extra step may result in increased transaction fees.
4, enter the contract address of O3: 0xEe9801669C6138E84bD50dEB500827b776777d28, please make sure the address is correct.
5, enter a reasonable price and quantity, and click “Exchange”.
How to participate in O3 Swap’s stablecoin cross-chain mining
By adding stablecoin liquidity from Ethereum/BSC/Heco mainstream blockchain networks to the Cross-chain Pool on the Hub board, Deposit generates cross-chain stablecoin LP (USDT/BUSD/HUSD), or USD-LP for short.
Subsequent Stake USD-LP in Vault interface will be rewarded with O3 Token, status to be unlocked.
Enter Uniswap through Get LP and add O3/USDT liquidity to generate O3/USDT-LP, this LP pass Stake can generate two benefits.
- Stake participates in mining to obtain the pending unlocked state O3
- Stake unlocks the frozen status of O3 in the account
Stake can be performed directly on O3 in Swap to obtain O3 rewards to be unlocked.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/how-to-participate-in-o3-swaps-lbp-and-stablecoin-cross-chain-mining/
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