Today, a large number of users are ready with their addresses, waiting for the Side airdrop registration to start promptly at 6 PM.
As a dark horse in the Bitcoin ecosystem, the popularity of the Side public chain continues to rise. Last night, the Side team announced a brand new token distribution plan, officially launching the 'The Last One' token issuance event today at 2 PM, giving the last buyer within 10 minutes during the event a 1,000,000 SIDE grand prize.
The Last One is an innovative design based on the traditional LBP (Liquidity Bootstrapping Pool) mechanism, aimed at incentivizing active participation from users and enhancing the fun and interactivity of token distribution.
Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi
What is LBP?
LBP stands for Liquidity Bootstrapping Pool, which is a fair and efficient way to distribute tokens and discover market prices through a dynamic auction mechanism, similar to a Dutch auction.
In the LBP, the initial price is intentionally set high to prevent bot participation and ensure fairness. Over time, the price will gradually decrease as the liquidity pool weight adjusts, allowing participants to choose when they consider the price reasonable to purchase tokens.
When the price reaches a fair level, it usually stabilizes due to demand from participants, achieving a balanced and fair token distribution. This mechanism promotes broad participation while ensuring a transparent and efficient process.
Compared to traditional LBP, The Last One adds a countdown reward mechanism, not only fairly distributing tokens but also increasing the fun and competitiveness of participation through incentives.
How The Last One Works
The Last One is a token distribution event based on a 'buy-only' LBP mechanism and includes a unique countdown feature. The event will last less than 7 days, with the following rules:
Phase 1
Time: November 26, 2024, 14:00 - December 3, 2024, 07:50 (Beijing Time)
- If a participant purchases 1,000 or more SIDE tokens in a single transaction, a 10-minute countdown will start.
- If no other participants make a purchase during this countdown, the buyer becomes 'The Last One' and wins a reward of 1,000,000 SIDE tokens (The Last Reward).
- If someone makes a purchase during the countdown, the timer resets, and the process starts over.
Phase 2
Time: December 3, 2024, 07:50 - 08:00 (Beijing Time)
- In the last 10 minutes of the LBP, the last buyer who purchases at least 50,000 SIDE tokens will win a reward of 1,000,000 SIDE tokens.
Other Details
- Use Block Explorer
The trading history update on the Fjord frontend may take a long time (e.g., 5 minutes). It is recommended to use the block explorer to obtain real-time transaction data, as all final decisions will be based on records on the blockchain.
- Reward Cap
This event has reserved a maximum of 3,000,000 SIDE tokens, allowing for a maximum of 3 winners.
- Avoid frequent swapping
A 2% exchange fee will be charged for each purchase, collected by Fjord Foundry and the curator, with the Side team not participating in this fee distribution. It is recommended to avoid excessive trading to reduce the impact of fees.
$SIDE Token
- Blockchain: Solana
- $SIDE Contract Address: 32E7eivh8gtU1FvKs7qVfVvaKeieq62CVa2ZpSca8ZGy
- Total Supply: 1,000,000,000
- Initial Circulation: 229,000,000
- After the launch of the Side Chain mainnet in January 2025, users can convert SPL $SIDE tokens to native $SIDE tokens.
Reward Distribution
After the LBP event ends, the Side team will verify the winning addresses and manually send 1,000,000 SIDE tokens within 48 hours.
In extreme situations or malicious interference (such as attacks on the frontend), the Side team reserves the right to investigate and withhold rewards.
Learn more about the $SIDE token economic model.
LBP Key Parameters
- Tokens can be claimed immediately after the LBP ends.
- The team will then create a DEX liquidity pool.
Last
The Last One event has begun, followed closely by the competition for the airdrop; let's wait and see.