[PROPOSAL] Radicle LBP Event

OFFICIAL PROPOSAL → Liquidity Bootstrapping Event

Details

1: 0x31c8eacbffdd875c74b94b077895bd78cf1e64a3.approve(0x864fDEF96374A2060Ae18f83bbEc924f174D6b35,3750000000000000000000000)

2: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.approve(0x864fDEF96374A2060Ae18f83bbEc924f174D6b35,3500000000000)

3: 0x864fdef96374a2060ae18f83bbec924f174d6b35.begin(12800,266,0x13075a80df4A80e45e58ef871900F0E0eF2ca5cC)

Liquidity Bootstrapping Pool

Radicle is progressively decentralizing its network by distributing decision-making power to a wider group of people.

This is a proposal to make 3.75% of the Radicle token supply available for interested parties within the Radicle community. It uses Balancer, a decentralized exchange and leverages a mechanism called Liquidity Bootstrapping.

The purpose of this proposal is to:

  • Distribute the Radicle token among the wider Radicle community, beyond early contributors and team members.
  • Build deep liquidity for the Radicle network, setting it up for long-term success.
  • Begin price discovery for the Radicle token.

Proceeds from the event will be held by the Radicle Treasury, a smart contract fully controlled by the Radicle token holders.

Read more about the Radicle Treasury here.

LBP specifications

  • Pool tokens: RAD and USDC
  • RAD start balance: 3.75M
  • USDC start balance: 3.5M
  • RAD start weight: 92.5
  • RAD end weight: 50
  • USDC start weight: 7.5
  • USDC end weight: 50
  • Swap fee: 0.5%
  • Duration: 2 days
  • Sale address: 0x864fDEF96374A2060Ae18f83bbEc924f174D6b35
  • CRP address: 0x750dD34Fb165bE682fAe445793AB9ab9729CDAa3

What is a Liquidity Bootstrapping Pool?

Balancer’s Liquidity Bootstrapping Pool (LBP) is a Balancer pool that automatically adjusts its token weights over time. This applies downwards price pressure on the token and disincentivizes front-running, speculation and whale buying. See Balancer’s Liquidity Bootstrapping Pool FAQ for more information.

Why a Liquidity Bootstrapping Pool?

The Liquidity Bootstrapping Pool is a battle-tested mechanism for price discovery and liquidity building. It’s been successfully used by numerous teams including Hydra, APY Finance, and Perpetual protocol.

How was this proposal discussed?

This proposal was put together by early contributors behind the Radicle project.

Moving forward, all proposals will be discussed openly and developed through the formal governance process. This process is meant to be owned and developed collectively by the Radicle community. More information can be found on https://radicle.community.

Additional resources

Why we chose to distribute PER using a Balancer Liquidity Bootstrapping Pool

HydraDX FAQ

APY Finances’ LBP Step by Step Guide

APY.Finance TGE on Balancer’s LBP (Liquidity Bootstrapping Pool)

16 Likes

Seems like a great way to ensure Radicle is accessible to anyone.

3 Likes

how to participate in the LBP?

3 Likes

if it passes you will be able to participate through balancer.finance but there will also be a separate website for that.

1 Like

How to get voting power on sybil.org? I’ve already tweeted)

1 Like

For how long will tokens be locked to buyers from the LBP :question:

2 Likes

They will be immediately available.

3 Likes

You need RAD token holders to delegate to you. Once the Balancer LBP proposal goes through and RAD is available to a wider audience you could start building trust in the ecosystem to get delegations from the community.

2 Likes

Look like this is a great way to ensure RAD come to mass adoption :smiley:

I saw some people got the vote on Sybil, where it come from ?

1 Like

To my understanding the voters set today consists of Team members, Early Supporters, Seeders or the Foundation. I don’t actually know where votes came from exactly.

More information are in this blog: Introducing RAD

3 Likes

this looks great. anyone knows how to vote?

Yeah you can vote via: Sybil

thanks, i see i have 0 votes. do you konw how to get votes?

You need RAD to vote. So far only Early supporters and contributors have token. Currently there is a proposal for a Liquidity Bootstrapping Pool on Balancer. If that passes, 3.75% tokens from genesis will be distributed to a wider audience. Assuming that happens, there would be a set of tokens in the free market.

1 Like

i dont see time … what date LBP ?

I don’t think the time is defined yet.

25 Feb, but what exact time LBP start?

good luck with gas fees! :grinning:

approx. 16:30 UTC

3 Likes