Today, a large number of users have prepared their addresses and are waiting for the Side airdrop registration to open at 6 oclock.
As a dark horse in the Bitcoin ecosystem, the popularity of the Side public chain continues to rise. Last night, the Side team released a new token distribution plan and officially launched the The Last One token issuance event at 2 pm today, giving the last buyer within 10 minutes during the event a grand prize of 1 million SIDE.
The Last One is an innovative design based on the traditional LBP (liquidity bootstrap pool) mechanism, which aims to encourage active participation of users and further enhance the fun and interactivity of token distribution.
Participation link: https://app.fjordfoundry.com/token-sales/ 2 rAWk 5 vqp 3 LqwkC 6 eoZwPy 9 TFm d5 8 osjA 5 BdezQZnfBi
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 LBP, the initial price is intentionally set high to prevent robots from participating and ensure fairness. Over time, the price will gradually decrease as the weight of the liquidity pool is adjusted, and participants can choose to buy tokens at a price point they think is reasonable.
When the price reaches a fair level, it will usually stabilize due to demand from participants, resulting in a balanced and fair distribution of tokens. This mechanism promotes broad participation while ensuring a transparent and efficient process.
Compared with traditional LBP, The Last One has added a countdown reward mechanism, which not only distributes tokens fairly, but also increases the fun and competitiveness of participation through incentive mechanisms.
How The Last One works
The Last One is a token distribution event based on the buy-only LBP mechanism, with a unique countdown feature. The event will last less than 7 days, and the rules are as follows:
Phase 1
Time: 14:00, November 26, 2024 - 07:50, December 3, 2024 (Beijing time)
- If a participant purchases 1,000 or more SIDE tokens in a single transaction, a 10-minute countdown will be initiated.
- If no other participant makes a purchase within this countdown, the buyer becomes “The Last One” and wins 1,000,000 SIDE tokens (The Last Reward).
- If someone buys during the countdown, the timer resets and the process starts over.
Phase 2
Time: 07:50 - 08:00, December 3, 2024 (Beijing time)
- The final buyer who purchases at least 50,000 SIDE tokens during the last 10 minutes of LBP will win a 1,000,000 SIDE token bonus.
Other details
- Using a Block Explorer
It may take a long time (e.g. 5 minutes) for the transaction history on the Fjord front end to update. It is recommended to use a block explorer to obtain transaction data in real time, as all final decisions will be based on the records on the blockchain.
- Reward Cap
A maximum of 3,000,000 SIDE tokens are reserved for this event, allowing for a maximum of 3 winners.
- Avoid frequent swapping
A 2% exchange fee will be charged for each purchase, which is collected by Fjord Foundry and the curator. The Side team does not participate in this fee sharing. It is recommended to avoid too many transactions to reduce the impact of fees.
$SIDE Token
- Blockchain: Solana
- $SIDE Contract Address: 32 E 7 eivh 8 gtU 1 FvKs 7 qVfVvaKeieq 6 2C Va 2 ZpSca 8 ZGy
- Total Supply: 1,000,000,000
- Initial circulation: 229,000,000
- After the Side Chain mainnet launch in January 2025, users will be able to convert SPL $SIDE tokens into native $SIDE tokens.
Reward Distribution
After the LBP event ends, the Side team will verify the winning address and manually send 1,000,000 SIDE tokens within 48 hours.
In the event of extreme cases or malicious interference (such as attacking the front end), the Side team reserves the right to investigate and retain rewards.
Learn more about the $SIDE token economics model.
LBP Key Parameters
- Tokens can be claimed immediately after LBP ends.
- The team will then create a DEX liquidity pool.
at last
The Last One event has already begun, and the airdrop competition will follow soon. Let us wait and see.
