When we decided to launch our TAP token sale on Balancer, one of the key motivations behind the decision was the fair distribution of tokens to our community. The further we delved into the modeling of our launch, the harder it became to justify the plan to offer 10% of TAP to a private sale. The vesting schedules became complicated and muddied the waters of a fair launch.
Therefore we have made a big decision. There will be no private sale.
The team had already made the decision to vest their tokens over 3 years combined with a 6-month vesting cliff.
There are three integral principles for our token distribution:
- The distribution must be fair for all participants.
- The distribution must have better price discovery.
- The distribution must be permissionless and scalable.
How does Balancer help with this?
Bots have no advantage to humans:
Since the price of the asset inside a Balancer LBP ( Click here for more information about LBP’s) will start from high and gradually go down with the passage of time, in the event a bot immediately gets TAP when the pool is live, the price on Balancer will soon be lower than the acquisition price that the bot has paid after the weight change. Therefore bots have no way of disrupting the token sale in a negative way, thus providing no incentive at all for people to utilize them.
No first come first served:
The LBP in our case will last a set period of no more than 1 week, meaning no matter which timezone you’re in, you’ll have your chance to get the tokens. And people aren’t incentivized to FOMO in at the start, which should result in better price discovery.
Users can use popular tokens in exchange for TAP
Thanks to Balancer’s smart routing, users aren’t forced to use the asset we pair TAP within our LBP to get TAP. Instead, users can use tokens such as ETH, COMP, or even SUSHI in exchange for TAP on Balancer with a little higher slippage due to multiple hops between pools.
What can I do now? Register for the sale here
The internet is ever-changing and how we control our data is extremely important. Now is the time to take back what’s ours and reclaim our freedom.
Tapmydata intends to revolutionize the industry by providing a unique framework of tools and decentralized protocols that enable people to reclaim their data in exchange for value.
For any blockchain projects looking to integrate/collaborate with Tapmydata reach us at firstname.lastname@example.org