Team responsible for the RGB++ protocol and the Seal supernode of RGB++, Seal, announced the launch of the Initial Bitcoin Offering (IBO), the first launchpad in the Bitcoin ecosystem. This platform, developed and managed exclusively by the Seal community, is now live, allowing users to stake Seal to earn STB, the token of the first project.

The launchpad supports RGB++ Layer assets and will soon extend to include BCH, Dogechain, and other Unspent Transaction Output (UTXO) ecosystems. This expansion is aimed at fostering the development of Bitcoin Finance (BTCFi).

The initial project on the IBO is Stable++, a UTXO-based over-collateralized stablecoin protocol. It is strategically supported by the CKB Ecosystem Fund to ensure free circulation and stability within the BTC ecosystem. The project’s token, STB, has a total supply of 21 million.

To participate, users are encouraged to stake their assets. Once staked, these assets cannot be withdrawn until August 5th. Staking will be closed as of July 29th, at which point staking rewards will begin to be calculated. On August 5th, the seven-day staking period will end, and 2% of the SB tokens will be proportionally distributed to the stakers.

Users can stake the RGB++ asset Seal on the Bitcoin mainnet to earn STB, which will be airdropped to the corresponding Layer 2 address. Importantly, once unlocked, the Seal will also be returned to the Layer 2 address instead of the Bitcoin mainnet.

The first Launchpad platform in the BTC ecosystem, IBO, is live today!

Developed and operated by the $Seal community, the #IBO platform (https://t.co/u3zhwcv9zV) starts staking $Seal to earn the first project token $STB at 14:00 UTC+8!
The platform supports RGB++ Layer…

— SEAL (@btckbseal) July 26, 2024

Seal Plan To Distribute STB Tokens Via Airdrop   

In the second phase, beginning after August 6th, users will have two staking options: staking for 30 days to earn 6% STB and staking for 60 days to earn 12% STB. Users can stake the RGB++ asset Seal on either the Layer 1 Bitcoin mainnet or Layer 2. Once the staking period ends, users must manually claim their STB and unlocked Seal, which will be sent to the Layer 2 address.

The third phase will involve a 30% airdrop, distributing STB tokens across the RGB++, Bitcoin, and CKB ecosystems. In the fourth phase, 40% of the STB tokens will be allocated to the Stable++ ecosystem. The fifth phase will include the release of 10% of the tokens for team allocation.

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