[Metaverse Starter] Feature Release: Token Launch Auction

Dear BUNIans,

We are excited to announce that the brand new auction feature is scheduled to launch on the Polygon, Avalanche, BSC, ETH Network around 8AM - 10AM UTC on Friday, July 29, 2022.

The auction feature has been on our mind for quite a while as we want to bring Token Launch Auctions, which were a tremendous success on the renowned Copper Launch, to Bunicorn and Metaverse Starter users. Let’s find out more about how this new model works and how it benefits the community.

What is a Token Launch Auction?

Generally, a Token Launch Auction is a token distribution model with a long length of issuance for the sake of price discovery and price equality — where there’s no discount. That’s to say, no private sales, no VC, no staking to get IDO tickets. Almost all projects that adopt the distribution model of Fair Launch share one main goal: to allow all participants to join the game by following the same rules.

Token Launch Auction is built on top of Balancer’s LBPs (Balancer’s Liquidity Bootstrapping Pool) feature. In particular, LBP changes the proportion of tokens in the Pool according to a predetermined time.

Thus, Token Launch Auction will be similar to Dutch auctions. With the help of LBPs, the price of the Token will be started with a high price and then gradually decrease over time. During the auction period, investors can buy Tokens at whatever price they think is reasonable.

Learn more about the mechanism of LBPs.

Token Launch Auction vs IDO

In comparison to IDO, the biggest advantage of Token Launch Auction is that it is completely permissionless and open. The model truly promotes decentralization on chain.

  • No Verification: Instead of going through a long hard project verification process (which might take months to complete) with the IDO method, the Token Launch Auction requires almost no verification from the pool owners.
  • Swift Onboarding: Anyone can create their own auction at any time. The process might take only around 15 minutes to complete.
  • Truly transparent and permissionless price discovery mechanism: this approach discourages whales and bots to participate in the token sale while allows retailed investors of all sizes to fairly join the fair launch in order to support projects at the early stage.

Such an approach elevates a project’s capital efficiency as they no longer have to invest a tremendous amount of resources in the traditional process of an IDO method.

Yet, the only drawback of the Token Launch Auction also originates from its permissionless nature. The new method should require auction participants to study the project legitimacy and make the choice based more on their own evaluation.

How does Token Launch Auction Benefit Users/Pool Owners?

Token Launch Auction is ideal for distributing new tokens for the following reasons:

1. Capital Efficiency: only a small amount of the base asset is required initially.
2. Fair Distribution: thanks to a mechanism that is unique only to LBP — going against bots front-running. The price of the asset inside an LBP will start from high and gradually go down with the passage of time. If a bot immediately gets tokens when the pool is live, the price will soon slump, holding less value than the acquisition price that the bot has paid after the weight change. Large buyers are incentivized to split their trades into a series of smaller tranches over a longer period of time to avoid driving the price up, making it easier for everybody else to participate.
3. Price Discovery: Similar to a Dutch auction, users will have a long time window to acquire tokens at a price they find attractive. Market forces will determine what the final valuation will be.

What does Metaverse Starter’s LBP Feature Have to Offer?

Inheriting all the advantages of the LBP mechanism as explained, the Metaverse Starter elevates the user experience with Token Launch Auction by providing a secure and seamless multi-chain connection. We will be supporting Polygon, Avalanche, BSC, ETH and more to come in the future.

On top of that, the Metaverse Starter has gone under a brand-new User Interface (UI) and an exciting new User Experience (UX) revamp. The makeover ensures that the user experience is consistent across all Metaverse Starter features.

Here are some key points for users and pool owners to notice when using the LBP feature on Metaverse Starter.

For Users

Swap Fee ranges from 0.01% to 10% and depends on the pool owner’s settings. All of the fees will go to the pool owner.

For Pool Owners

  • Base Token: A minimum of $1,000, or other tokens of equivalent value
  • Platform Access Fee: 2% of the Collateral Token Balance
  • Auction’s Start Date - End Date: 7 days maximum
  • Start Weight - End Weight: Set by the pool owner
  • Stuck: If you do not successfully submit the auction creation, kindly click the “Stuck?” button, then copy and paste the transaction hash of the auction creation into the Stuck form. Our development team will reach you as soon as possible.

If you need assistance on Metaverse Starter, kindly contact our admins on Bunicorn Official Telegram or Bunicorn Official Discord.

About Bunicorn

Bunicorn is an intense DEFI Game platform that elevates DEFI and blockchain gaming experience to the next level.

Within Bunicorn Ecosystem:

  • The Bunicorn RPG game is designed as a “Play to earn” model while teleporting users to a

magical “Bunicorn” world with exquisite NFT collectibles.

  • Bunicorn exchange is a high-performance AMM DEX that offers investors yield-earning opportunities through liquidity pools and liquidity mining, with unique time-locked rewards wrapped into tradable NFTs.

Learn more about Bunicorn:

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