$MASK LBP Tutorial
The second part of the Mask public offering, the $MASK LBP will launch at 3:00pm UTC+0, Feb 24th and end at 3:00am UTC+0, Feb 26th, a total of 36 hours. We will use the Liquidity Bootstrapping Pool (LBP) by Balancer to auction 4% of the total supply in order to derive and capture the true value of $MASK.
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.
$MASK LBP Key Parameters
At the beginning of the LBP, we are going to put in 4,000,000 $MASK and $800,000 $USDC. The starting price is $3.9. Check out the table below for details:
$MASK Token Address：
-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 to Participate in LBP
How to Purchase
- After the LBP start at 3pm (GMT+0) Feb 24th, click https://balancer.exchange/#/swap and you will enter a page like the Picture 1 below.
2. Press connect on the top right corner, choose a wallet as shown in Picture 2.
3. After connecting your wallet, go back to the main page and select “Asset”.
- $MASK LBP is paired with $USDC.
- Please make sure that you have enough $ETH to pay for the gas in your wallet.
- If you choose other assets, Balancer will automatically convert to $USDC and then trade for $MASK. The additional step could cause the increase in the transaction fees.
-Type in the contract address of $MASK. 0x69af81e73a73b40adf4f3d4223cd9b1ece623074
-Please make sure that you type in the correct address.
-Type in a reasonable amount at a reasonable price. Click “Swap”.
All done. Have fun staying with your MASK！