Recently, the Bitcoin dark horse public chain Side, which has exploded across the internet due to airdrop activities, has sparked renewed discussion. They announced that they will launch a new token issuance plan called 'The Last One' on November 26, bringing a refreshing token distribution method to the market. This article will detail the event rules and participation methods.

Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi

What is The Last One?

The Last One is a completely new gameplay designed by the Side team based on traditional LBP (Liquidity Bootstrapping Pool), aimed at rewarding user activity and enthusiasm for participation.

Reviewing traditional LBP

LBP, or Liquidity Bootstrapping Pool, is a method for fairly and efficiently distributing tokens through a dynamic auction mechanism (similar to Dutch auctions). The price starts high and gradually decreases, helping to discover the fair market price and facilitate a broader distribution of tokens.

The uniqueness of The Last One

Compared to traditional LBP, The Last One introduces a countdown reward mechanism that not only fairly distributes tokens but also increases the fun and competitiveness of participation through incentives.

The Last One rules:

Event time

  • First phase: November 26, 2024, 14:00 - December 3, 07:50 (Beijing Time)

  • Second phase: December 3, 2024, 07:50 - 08:00 (Beijing Time)

First phase rules

In the first phase, every single purchase exceeding 1,000 SIDE tokens will trigger a 10-minute countdown:

  • If no one makes a purchase during the countdown, the buyer will become 'The Last One' and receive a reward of 1,000,000 SIDE tokens.

  • If there are other purchases during the countdown, the timer will reset and repeat.

Second phase rules

  • If no one wins in the first phase, the event will enter the second phase. During this period, the last user who makes a single purchase of at least 50,000 SIDE tokens will directly win a reward of 1,000,000 SIDE tokens.

Event notes

  • Total reward pool: A total of 3,000,000 SIDE tokens are prepared during the event, with a maximum of 3 winners.

  • Transaction fee: A 2% fee will be charged for each transaction, collected by the partner platform Fjord Foundry, and the Side team does not participate in the fee sharing. It is recommended to minimize transaction frequency to reduce costs.

  • Reward distribution: After the event ends, the Side team will verify the winning addresses within 48 hours and manually distribute the rewards. All transaction records can be queried on the Solana blockchain to ensure transparency and fairness.

About the $SIDE token

Currently issued on the Solana blockchain, with the mainnet expected to launch in January 2025, at which point users can convert SPL standard $SIDE into native tokens.

  • Total token supply: 1,000,000,000

  • Initial circulating supply: 229,000,000

  • SPL contract address: 32E7eivh8gtU1FvKs7qVfVvaKeieq62CVa2ZpSca8ZGy

Here are some key parameters of the LBP:

How to participate?

Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi

The Last One event will be held on the leading LBP platform Fjord Foundry, which has assisted multiple projects in raising a total of over 1 billion USD. Notably, this is the first Solana LBP event for Fjord Foundry, and participants will need to use SOL tokens to purchase $SIDE.

Conclusion

The Last One adds an interesting countdown mode to the traditional LBP market pricing mechanism and places the launch time 4 hours before the airdrop registration opens. Both events are expected to be very popular; let's wait and see.