Original | Odaily Planet Daily (@OdailyChina)

Author｜Nan Zhi (@Assassin_Malvo)

On September 24, the AI-driven DID project Aspecta launched the Launch platform Build Key. The platform introduced the Bonding Curve model in the sale of multiple assets, which is essentially a relatively new pre-market market. Odaily will interpret this Launch platform.

(Odaily Note: Bonding Curve is often translated as joint curve, which can be more accurately translated as price change function, which means that the price of an asset changes with the progress of the sales process.)

Build Key Analysis

In the current market, the most familiar platform for issuing assets using Bonding Curve is Pump.fun and its imitations. The transaction process and model of Build Key are similar, but only the "project party" is allowed to issue assets.

The project party must first pass the whitelist verification through Aspecta's DID system before it can issue the Key asset and attach various future redeemable project resources to the Key, including airdrops, tokens, points, NFTs and other forms.

It is worth noting that the resources that Key can redeem are not only related to quantity, but also have a time coefficient, which is designed to further encourage early supporters to participate.

For traders, buying a key is a quick way to get early access to project resources, and Bonding Curve's model further encourages early participation. Compared with the pre-market market of the order book model, AMM models such as Bonding Curve can achieve market pricing and self-equilibrium for air investment resources more quickly.

Taking GAIB, one of the first official cooperation projects, as an example, the starting price of its Key was 0.000175 BNB, which rose rapidly after the opening and finally stabilized at 0.014 - 0.016 BNB, with the maximum increase of 85 times. In terms of airdrop rules, users holding GAIB's Key will be allocated 0.01% of the total tokens, and the score is calculated based on the number of Keys multiplied by the holding time.

Another project, SphereX, also uses the same scoring algorithm, but changes the corresponding assets to two rounds of 225,000 tokens. Users can make a more objective evaluation based on this price, token market value and the value of the project itself.

Fees and discounts

For traders, the cost of each Key transaction is relatively expensive, which is 5% of the transaction amount, including 2% for the project party, 2% for Aspecta, and 1% for the incentive plan. Therefore, it is recommended that traders calculate and confirm the reasonable value before purchasing and hold for a long time.

According to official documents, incentive programs come in many forms, including:

  • Referral Rewards: Users can use referral links to promote. The referral will receive 10% of the referral’s transaction fee in the form of BNB, and the referral’s transaction fee will be reduced by 10% in the first 7 days.

  • Points: Points will be earned by holding and trading Keys and recommending friends. The official said that the points will be related to "future earnings" or may be airdrops of project tokens.

  • Pre-Launch participants will receive a 20% fee discount within 7 days of the official launch (end).

Financing

In March 2024, Aspecta became one of 13 early-stage projects selected for the seventh season of the accelerator program MVB VII.

In March 2023, Aspecta, an AI-driven digital identity ecosystem focused on developers, announced the completion of a US$3.5 million seed round of financing.

Aspecta's seed round financing consists of two phases, A and B. Phase A was completed in April 2022, with participation from ZhenFund, Qiji Chuangtan (formerly YC China), UpHonest Capital, Yale Alumni Fund and other institutions. Phase B was completed in November 2022, with participation from HashKey Capital, Foresight Ventures, SNZ Holding, Infinity Ventures Crypto and other institutions, raising a total of US$3.5 million.