FLUX Auction is alive on Copper
Please note that participating in a Token Launch Auction through Copper is a high-risk endeavor and that the value of the tokens that you’ve received in exchange for contributing to such an auction might go to 0.
What is Auction?
An auction is a sales event wherein potential buyers place competitive bids on assets or services either in an open or closed format. Auctions are popular because buyers and sellers believe they will get a good deal buying or selling assets.
The open ascending price auction is arguably the most common form of auction in use throughout history. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves or have a proxy call out a bid on their behalf, or bids may be submitted electronically with the highest current bid publicly displayed.
What is Copper? (crypto auction)
Copper is the most open and user-friendly way to participate in a Token Launch Auction (TLA). A TLA is a permissionless price discovery mechanism that enables projects and ideas from across the world to raise money from individuals without barriers to entry.
Key Features of Copper
- Price discovery. The price of the token starts high and drops based on a pre-configured price decay curve that can be resisted by buying pressure from auction participants. Anyone can buy into or sell out of the auction freely at any time, so price truly regulates itself.
- Open and permissionless participation. Freely launch tokens and participate in auctions. No whitelists, hard caps, or listing requirements. There is no minimum or maximum allocation. Auction participants choose how much they want to buy.
- Fair distribution. TLAs flip the first-come-first-serve launch model on its head and change token launches from being a race where the first bot in or the transaction with the highest gas fee wins. Get your token into the hands of as many people as possible in a fair way that disincentivizes front-runners and whales getting better rates than smaller participants.
- Capital efficiency. The initial price of the token being auctioned can be magnified by up to 99 times relative to the collateral deposited along with it. Additionally, the collateral can be fully retrieved at the end of the auction unless the auctioned tokens already exist outside of the TLA and someone decides to sell into the auction.
Reason for participating? (quick reminder/reasons for participating)
Flux is a cross-chain oracle aggregator that provides smart contracts with access to economically secure data feeds on anything.
- Flux’s backers
- Experienced team
- FLX Token Economics
You can find more information in this article:
Token distribution is shown below
1,000,000,000 max supply
These tokens will be distributed to major participating groups in the Flux Protocol based on their percentage allocations set forth below:
Token Distribution Visualization
Useful article from Flux Team: https://fluxprotocol.medium.com/a-guide-to-fluxs-lbp-on-copper-launch-and-balancer-562d5a4e8bc
Flux’s Auction will take pleace here: https://swap.flux.xyz
To participate in Flux’s Auction, you will need:
- ERC 20 wallet:
I use Metamask: https://metamask.io/
Tutorial on Metamask: https://www.youtube.com/watch?v=Af_lQ1zUnoM
- Some Ethereum on your wallet (at least 200$) to cover gas fees.
- USDC to buy FLUX
Ps. You can buy USDC/ETH on CEX (Centralized Exchange) such as Huobi, Binance, Coinbase, Kraken and send them to your Metamask
You can also buy them on some DEX like Uniswap, Sushiswap
Starting Price: $2.00
Date: Dec 1st, 2021
Ending Price with no Buy/Sell: $0.1035 $FLX
Initial LBP Supply: 15,000,000
DISCLAIMER — NO INVESTMENT ADVICE
Telegram chat: https://t.me/fluxprotocol
Telegram accouncment channel: https://t.me/fluxannouncements