Ares Protocol’s Public Sale on Balancer LBP
Dear Aresians, we’ve already announced that Ares Protocol will hold a Balancer LBP (Liquidity Bootstrapping Pool). We think the time has finally come to share all the details you’ve been waiting for 🤩
Everyone will be able to participate in the LBP, no lotteries, whitelists or token holding requirements 🤯
But that’s not all! We have prepared something very special for all of you 😏
We will have a massive 200,000 ARES tokens airdrop for users participating in the LBP event! 🔥
📋 Users who participate in Ares LBP Swap will have the opportunity to receive the following 3 rewards:
1️⃣ The first 1000 participating users will get 100 ARES as a reward.
2️⃣ The ranking of ARES positions will be tracked every 4 hours during the Balancer LBP, and the top Ares holder of each 4 hours period gets 2.5K ARES (one address only has one chance, and the winner can’t transfer ARES before the end of LBP. Otherwise, the qualification for airdrop 2.5k will be canceled. ).
3️⃣ After the Balancer LBP has ended, the top ARES holder will be rewarded with additional 30K ARES, the second top holder gets 20K ARES and the third one gets 10K ARES tokens airdropped.
Now, we’re ready to guide you through understanding how the Balancer LBP works and how to participate 😉
Balancer LBP Details
📅 Start time: April, 26 (4 PM UTC)
📅 End time: April, 29 (8 AM UTC)
📌 Initial Price: $0.86
📌 Supply of Tokens: doesn’t exceed 2% of the total supply
📌 Trading Pair: USDC/ARES
📌 Initial Weight: 96:4
📌 End Weight: 50:50
Ares Protocol will discover the fair price of ARES tokens through the process of the Balancer LBP and provide a permissionless token distribution.
ARES LBP key parameters
⚠️ Please pay attention to the following information:
📌 Balancer LBP pool exchange page:
📌 Balancer pool:
➡️https://pools.balancer.exchange/#/pool/0x3634f7bf0a5b1aef9cdfc441eb2f2c02551ee8af/
📌 ARES token contract address:
➡️https://etherscan.io/token/0x358AA737e033F34df7c54306960a38d09AaBd523
❕ Note: A Liquidity Bootstrapping Pool is a variant of a Dutch auction and reverse auction. In the absence of buying orders, ARES prices will continue to fall. It is recommended that all investors be familiar with the principles of an LBP in advance and refrain from FOMO.
❔ How to participate in Ares Protocol LBP
Balancer’s Liquidity Bootstrapping Pools are liquidity pools with varying weights designed for optimal token distribution.
To purchase ARES on the Balancer LBP, you need to go through the following four steps:
1️⃣ Install MetaMask or other supported wallets
2️⃣ Make sure there is USDC stablecoin in the wallet
3️⃣ Use this link to jump to the Balancer LBP page
4️⃣ Exchange ARES
Specific steps
Make sure you have enough USDC in your wallet, and navigate to the USDC/ARES exchange page:
(1) Prepare a wallet supported by Balancer. Currently, the following wallets are supported:
(2) Prepare a certain amount of ETH in the wallet for the gas fee, as well as the currency accepted by Balancer such as USDC.
(3) After the event starts, enter the Balancer Exchange page to purchase, and select the trading pair USDC/ARES. If your wallet is not connected, the “Enter amount” button in the picture above will not appear, but the “Connect Wallet” button will appear, please click on it and connect to your wallet.
(4) After entering the purchase page on the Balancer, connect to your wallet and select USDC as the transaction currency by default. You can enter the quantity you need to purchase and click “Swap” to proceed with the transaction. Please note that two on-chain transactions may be required, one for approval and the other for transaction (swap), so your wallet may require you to make two confirmations. For users who do not have USDC, they can choose ETH, USDT, DAI and other currencies to purchase. Balancer will provide automatic conversion, but this process will increase the user’s purchase gas cost.
(5) After the purchase is successful, check your wallet for the number of ARES purchased. If the ARES Token cannot be found in the wallet, you can use the ERC-20 smart contract address of Ares Protocol (0x358AA737e033F34df7c54306960a38d09AaBd523) to add ARES Token directly.
You can also search for the ARES LBP pool address for more detailed information:
➡️https://pools.balancer.exchange/#/pool/0x3634f7bf0a5b1aef9cdfc441eb2f2c02551ee8af/
⚠️ LBP risk warning
- The Balancer LBP has an anti-rush run design, and the price will change from high to low according to the set weight over time. Please be rational. If you feel that the price jumps too fast, please wait patiently until the price in the range is reasonable, and do not FOMO.
- The starting price is not the final price of ARES. Due to the mechanism of the Balancer LBP, the price will have a downward trend over time. At the beginning, the downward trend is greatest, so it is not recommended to swarm at the beginning. After 64 hours, the remaining ARES in the pool will be used to create the Uniswap liquidity pool. And the closing price of the LBP will be used.
- Trading is risky, investment needs to be cautious. This article does not constitute any investment advice, and users need to bear all risks in the transaction. If you are not familiar with encrypted assets, we advise you participate with caution.
- Pay attention to Gas consumption and slippage settings.
ℹ️ About Ares Protocol
Ares Protocol is the first decentralized cross-chain oracle on Polkadot that implements data verification on-chain. It’s competitive advantage over other oracles is that it has a higher degree of decentralization because of node randomness, very low latency and high scalability because of it’s on-chain verification of real world data. Furthermore, it is the first oracle that provides compensation through its treasury to data consumers who faced losses due to malicious data. This mechanism serves as insurance and an additional layer of security in the rare case that other security mechanisms of Ares Protocol fail, making it even more secure.
ℹ️ About Balancer LBP
A Balancer LBP is a pass-through scheme that has been recognized and adopted by many mainstream projects. An LBP can effectively prevent rush-off and excessive speculation in the initial issuance of the token, and can provide effective initial price setting and liquidity activation.
🌐 Our Social Media:
Telegram Group: https://t.me/Aresprotocols
Telegram Channel: https://t.me/aresprotocol_announcement
Website: https://aresprotocol.com
Twitter: https://twitter.com/AresProtocols
Medium: https://aresprotocol.medium.com/
Github: https://github.com/aresprotocols
Discord: https://discord.com/invite/gWGG63zJVk
