$RUBY Liquidity Bootstrapping Pool (LBP) Guide
TL;DR
$RUBY LBP: 100% on TGE With No Vesting
Allocation: 50,000,000 RUBY (5%)
UTC Time: 1PM Jan 25th — 1PM Jan 28th
Location: Fjord Foundry
The $RUBY LBP (Liquidity Bootstrapping Pool) will be live from 1 PM Jan 25th to 1PM Jan 28th, a total of 72 hours.
We will use the Liquidity Bootstrapping Pool (LBP) by Fjord Foundry to auction 5% of the total supply to achieve the real price discovery of $RUBY.
LBP Explained
LBP (Liquidity Bootstrapping Pool) is a variation on a Dutch auction, which sets the price high and allows the pool weights gradually shift to reach market equilibrium. It is commonly believed that LBP can increase trust in the token launch by preventing bot manipulation and assuring a fair launch.
This method and Fjord Foundry’s mechanism are designed to defend the reputation of new businesses, gain a competitive advantage against bots, and prevent whales from benefitting via rug pulls or other manipulation techniques.
Please understand how it works before participating in LBP.
Don’t FOMO
Understand LBP (Liquidity Bootstrapping Pool)
$RUBY LBP Key Parameters
How to Participate in $RUBY LBP
No one explains it better than Fjord Foundry themselves.
Please read 👉 How to participate in an LBP by Fjord Foundry
If you are well informed about Fjord Foundry and LBP, these are the general steps to follow to participate in Ruby Protocol’s Public Round 👇
Step 1 — Set up wallet
Fjord Foundry now supports all mainstream wallet applications. Please download and install the one you prefer in advance.
Step 2 — Fund wallet
LBPs hosted on the Ethereum network will need to have ERC-20 funding tokens to buy into them.
Step 3 — Connect and explore
Now you can visit https://app.v2.fjordfoundry.com/pools, and connect your wallet.
Your wallet will show it is connected once the “Connect Wallet” button in the previous section shows part of your wallet address.
Step 4 — Buy into the LBP
Guide:
The buying strategy for Fjord Foundry’s LBPs involves a more equitable distribution due to its unique price decay model. Initially, tokens have a high price to deter bots and large investors from monopolizing supply. The price then gradually lowers to a more realistic level, allowing participants to enter at a price they find fair.
This strategy requires participants to be cautious and make informed decisions about when to buy, as the initial high prices eventually adjust based on market response and the token’s weighted setup in the LBP.
Step 5 — The end of the LBP
At the end of the LBP, you are required to redeem your tokens. Executing the redeem function will transfer the actual tokens to your wallet.
Step 6 — Completed!
Once this swap is done, you will have your $RUBY tokens.
Disclaimer
- Please conduct your own research (DYOR) and do so thoroughly. Only you can make decisions based on research gleaned from multiple sources.
- You agree that investing in cryptocurrencies is inherently risky activities. As such, you must conduct your due diligence before buying or selling any cryptocurrency or NFT and come to your conclusions.
- The beauty of the new crypto era lies in your ability to make well-researched and deliberate decisions to gain a complete control over your finances.
- Never invest more than you can afford.
About Us
Ruby Protocol is an Intent-Centric Account & Access Layer for Web3.
We are building an intent-centric, interoperable, and privacy-preserving infrastructure for Web3 future. Our services, including Account Abstraction (AA), Assets Bridge (AB), Access Control (AC) and much more, are designed to accelerate Web3 development and its mass adoption.
We aim to make Web3 seamless and effortless to everyone everywhere.
