YFX token has announced the second phase of its launch schedule with the Balancer sale + Liquidity Bootstrapping Pool(LBP). The sale is slated for 7th May. Following that, The DEX will launch its platform on 9th May.
The total supply of tokens is 100 million. YFX has allocated 250,000 tokens for the Balancer’s Liquidity Bootstrapping Pool (LBP). The pool will last for 48 hours and will end at 10:00 AM UTC on May 9th.
An important point to note is that, unlike other pools, the proportion of the balancer pool will be dynamically adjusted. What this means is, the initial price of the tokens will be set at a high point. As time goes by, the price will automatically decrease according to the program design.
This is done in order to prevent bot interference, pre-running and speculation.
The exchange has also mentioned a graph denoting the price with time at every two hours.
The figure shows that proportion of YFX:USDC pool will start from 90:10 (high price point) to 35:65 (low price point) within 48 hours. The final price of the token is set at $1.08/YFX.
Core data related to the LBP is mentioned below:
YFX.COM opened its IDO at Bounce and WeStarter on May 6th. WeStarter’s whitelist pool was completed within 30 seconds. The public pool participation amount exceeded $138 million which was about 2764.43 times more.
YFX is the world’s first decentralized cross-chain perpetual contract trading platform. It utilizes four different blockchains and xDAI on Ethereum to keep fees low. It is based on ETH, BSC, Heco, Tron providing up to 100 times perpetual contract trading BTC, ETH and other digital assets. YFX.COM also adopts the QIC-AMM market maker pool trading method to provide users with high liquidity and low trading slippage.
As of now, traders can utilize Ethereum, BSC, TRON or HECO blockchain for trading. Polkadot and OKEx chains will be added soon optimizing the trading experience even further.