How to buy TAP on Balancers LBP
–– 16 Dec 2020
In order to buy TAP tokens on Balancer LBP, users have to go through three steps:
- Install and set up MetaMask
- Navigate to Balancer LBP using the link we provide you https://pools.balancer.exchange/#/pool/0x38131a37f74a52141e14d7aef40a876066ffe25f (10% bonus for verifying KYC)
- Swap $TAP
We detail these steps below:
1. Install and set up MetaMask
We recommend using MetaMask, which is a Web3 enabled cryptocurrency wallet, to swap tokens on Balancer LBP. You can download the MetaMask extension directly in browsers such as Google Chrome, Firefox, etc. In addition to Metamask, Balancer also supports WalletConnect, Coinbase, Portis, etc. This guide will focus on the use of Metamask, which is similar to other wallets.
After preparing Metamask, you need to prepare two cryptocurrencies.
1. ETH to pay transaction fees on Ethereum
2. DAI to exchange for TAP tokens.
While other tokens can also be used, we recommend preparing DAI. Balancer’s multi-pool routing means other tokens besides DAI can be used but may result in a higher price as extra hops will be required.
2. Navigate to Balancer LBP using the link we provide
Balancer is an n-dimensional automated market-maker built on Ethereum.
Here is the contract addresses of TAP token for your reference:
0x7f1f2d3dfa99678675ece1c243d3f7bc3746db5d (view on etherscan)
We work with Coinfirm to check all addresses for AML compliance and we continue to do this in the background.
We encourage all buyers to conduct KYC through a 10% token bonus and we will continue to encourage everyone to do this.
Our IDO is by definition decentralized and the address of our LBP pool has been shared, therefore to ensure our community is using the correct pool we have decided to publish the link. This is the official pool do not use any other.
Please check for the right token contract address. We will not compensate you for the loss if you swap for the wrong TAP token.
3. Swap TAP
That’s it! Once you have submitted your bids, all you have to do is wait until MetaMask updates the transaction status from “PENDING” to “SUCCESS” in a few minutes.
Please remember to prepare a small amount of ETH as the gas fee (transaction fee) to swap your DAI for TAP tokens.
You can also swap any other token for TAP listed on Balancer although costs may be higher than using DAI.
If you can’t see TAP token in your wallet, copy and paste the token contract below to “add TAP token” to MetaMask manually.
Token Contract Address: 0x7f1f2d3dfa99678675ece1c243d3f7bc3746db5d
Token Symbol: TAP
Decimals of Precision: 18
The Balancer LBP will be live for 4 days and is designed to prevent front-running. It will start at a high price then go down quickly as the weights of the pool change. This prevents people from front-running other people.
After the 4-day period, part of the proceeds will be used to seed a Balancer shared pool. This shared pool will be seeded using parts of the proceeds from the LBP, and use the last price from the LBP.
Prohibited from participating in the distribution: Any citizen of, or a person domiciled in Cuba, Iran, Syria, North Korea, and the Crimea region of Ukraine, the United States (including its territories and dependencies, any state of the United States and the District of Columbia), Afghanistan, Canada, Ethiopia, Guyana, Iraq, Sudan, or Yemen.
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