Announcing Ibiza Token $IBZ on Copper — Balancer Liquidity Bootstrapping Pool Event
In our first article, we have introduced Ibiza Token by highlighting relevant features of the project such as its utility and the prerogative of building a global community of Ibiza lovers who can easily enjoy the magic of the island, taking advantage of the blockchain technology revolution.
Now, we can finally announce the first $IBZ initial launch on Copper powered by Balancer’s Liquidity Bootstrapping Pool.
What is Copper?
Copper is a Fair Launch Auction (FLA) platform built on Balancer’s Liquidity Bootstrapping Pools (LBPs) that allows projects to get crowdfunded on the Ethereum Network without barriers to entry.
Fair Launch Auctions equally provide to all the participants the chance to become stakeholders of the projects and decide together the fair price for the project’s token.
The main purpose of an FLA is to promote a transparent and equitable model of partnership where the project’s developers and the community are deeply connected and collaborate together.
What is Balancer’s Liquidity Bootstrapping Pool?
Balancer’s Liquidity Bootstrapping Pool (LBP) is a smart pool created to guarantee equal competition between humans and bots and provide an even price discovery process that minimizes volatility and discourages front-running.
In order to create a more equitable launch process, Balancer’s LBP continuously changes its pool weight by making that the price keep decreasing immediately after the launch. This dynamic encourages participants to wait for the right moment to buy the token once it has reached the point of its fair value in stark contrast to a FOMO ( Fear of Missing Out) approach, as it’s very unlikely that the best price will come at the beginning of the token sale.
Distribution
We’ve allocated 5% of the total $IBZ supply for the initial launch.
While the rest of the distribution of $IBZ will be under a locked-up period, only $IBZ tokens from the initial launch will be circulated in the market. It’s all in the community’s hands to decide its fair price.
The main objectives of $IBZ distribution are:
1) Conducting an initial price discovery which helps us to set up our native liquidity pool on Uniswap.
2) Publicly distributing part of the supply to the $IBZ Community (in LBP)
Token Launch Info Details
- When:
IBZ: USDC pool opens at 15:00 CEST on Jun 21, 2021, for 10 days (https://savvytime.com/converter/spain-ibiza-to-united-kingdom-london-india-singapur-ny-new-york-city-ca-los-angeles-australia-melbourne/jun-21-2021/3pm)
2. Where:
- Copper: https://copperlaunch.com/auctions/0x56619d823c0c08bc0fc6fd706850ea43c9dd73fa
- Balancer: https://app.balancer.fi/#/trade/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48/0x5aa7c403c7de4b3bb0cc07079a03e389671a4771
3. How: The Balancer LBP will be live for 10 days. This will be the ONLY place where you can get IBZ tokens directly from the team.
4. Amount: 5% of the total IBZ supply is allocated for this launch
5.Weight: IBZ: USDC pool weight will start at 95:5 and decline to 50:50 over 10 days.
6. Token Price at launch: $IBZ = 0.005 USDC
About Ibiza Token
Ibiza Token is an ERC-20 governance token on the Ethereum Mainnet, created expressly for the island of Ibiza.
Ibiza Token (IBZ) aims to be a habitual means of exchange and payment gateway for all the Ibiza lovers within the Island and worldwide by growing in vision to a globally tradeable coin with full smart-contract capabilities.
Liquidity pools, farming contracts and, AMMs alongside the benefit of a series of incentives within transactions with local businesses are some of the key features encompassed by Ibiza Token which is fully aligned with the standards aimed at surpassing the corporate-capture vulnerabilities of DAOs.
Besides being a habitual means of exchange and a decentralized payments and transactions gateway, Ibiza Token will enrich the holders’ experience through Ibiza Pay, a dedicated iOS/Android application that provides with the opportunity to join special deals across a hand-picked selection of local tourism establishments and discover music and art from the island in the first Ibiza non-fungible token marketplace.
Website: https://ibizatoken.com
Twitter: https://twitter.com/IbizaToken
Telegram: https://t.me/ibztoken ( community)
https://t.me/ibizatoken (official announcements)
Etherscan: https://etherscan.io/address/0x5aa7c403c7de4b3bb0cc07079a03e389671a4771
