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Introduction
The presale link is NOT LIVE yet. When the presale link is up we will broadcast it across all of our social media in particular our Twitter, Reddit and Telegram platforms.
The CopperLaunch platform that will be hosting our presale is open and permissionless meaning anyone can create a presale with our name and logo, so always check.
To counter this we will be using this link to always redirect to the correct presale link: presale.SatoshiSwap.net​
The presale will begin at 20th January 6pm UTC
The presale will start on January 20 6pm UTC and lasts for 48 hours
You need to be whitelisted through the Whitelist Dashboard to take part
You can buy presale tokens with USDC and sufficient ETH to pay for gas.
We will hold a poll to check if there is high demand to allow allow USDC with Polygon to pay for gas.
The price starts high to disincentivize bots, front-running, and speculation, and then is gradually decreased at regular intervals by the system. At the same time, buys over the course of 48 hours push the price back up. Therefore, you should buy at the price you think represents the best value and not necessarily rush to buy in the first couple of minutes.
The resulting price charts of some recent Copper auctions can be seen here:
TEMP Token Launch Auction
GF Token Launch Auction
PATH Token Launch Auction
HDAO Token Launch Auction
This format has been used very successfully in many projects: Hydra, APY Finance, and Perpetual protocol (note - Balancer LBP's are the underlying mechanism of Copper Auctions).
And some recent Copper projects:
Record-Breaking Liquidity Bootstrapping Pool by Merit Circle Reinforces Balancer LBPs as…
Medium
https://pathdao.gitbook.io/pathdao/copperlaunch-4-december-2021
pathdao.gitbook.io
Popcorn - DeFi for the People
We of course looked into IDO's that run on AMM-type DEX's and as you'll be aware for good projects bots front-run a vast number of tokens at the event's opening price. You can read more about why we chose this pre
Why was this specific mechanism chosen?
  1. 1.
    Since the price starts high it combats bots from sniping all the tokens in the first bloc.k
  2. 2.
    Whales who try to buy all the coins at once won't be able to as it forces the price up too much.
  3. 3.
    Real world results from projects such as Hydra, APY Finance, and Perpetual protocol show that it leads to a fair distribution.
  4. 4.
    Capital efficiency. The initial price of the token being auctioned can be magnified by up to 99 times relative to the collateral deposited along with it.
  5. 5.
    Because of the above, participants can buy as much or as little as they want
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