Liquidity Bootstrapping Program 🥾
Last updated
Last updated
HYPESALT benchmarked and adopted an idea from Balancer, one of the most advanced DeFi services on Ethereum, to provide early liquidity. After KlayStarter LaunchPad, HYPESALT will execute the ‘Liquidity Bootstrapping Program (LBP).’
Objective: Providing SALT liquidity by the market price through LBP
Timeline: Expected date is between Feb.7 (Monday) – Feb.14 (Monday). We will inform the community when the date is fixed.
Timeline: It is rescheduled for Feb. 15th, 2022 (Tuesday).
It will proceed after creating the KLAY-SALT LP Pool in KLAYswap.
After its initial creation, the HYPESALT Protocol will supply Epoch 12 times; each Epoch is within 1 hour (+/- 15 minutes)
Epoch supply time is not fixed (besides, each term will be within 1 hour) to prevent the Front Running.
SALT supply increases for each Epoch, and it will adjust the price ratio of KLAY: SALT in KLAY-SALT LP.
Regardless of the supply, the SALT price will be determined by the market needs.
*For your reference, the above graph reflects the Log Scale.
Although SALT supply is scheduled to run on an hourly basis, depending on situations such as Klaytn network issues, the supply schedule can be adjusted.
All LP Tokens acquired from LBP will be used to provide liquidity and enhance the HYPESALT ecosystem.
