Bazaar is going live on Mainnet in partnership with Shuffle
We’re excited to share that Bazaar is finally launching on mainnet, hosting Shuffle’s liquidity bootstrapping pool (LBP) event. Earlier this month, Bazaar opened its gates to the public and outlined exactly why the product is needed. On-chain capital formation remains deeply flawed to date, with a lack of transparency, liquidity fragmentation, and exorbitantly extractive fee structures. Bazaar’s goal is to fix this.
https://mirror.xyz/hibazaar.eth/a7FKPcb3cx0cQ-mS5qmS52wNTjZxCgU-yS5KSsa9Lk0
Bazaar’s mainnet launch will be divided into two phases – the first being the guarded mainnet phase. While Bazaar as a platform will support fully permissionless LBP creation and token launches in the near future, the protocol will only launch with support for curated launches at this stage. The Bazaar dApp is now live and can be found here.
Building a robust community is our number one priority, and this can’t be accomplished without tailoring high-quality launches to build platform trust. For projects interested in launching with us, please reach out here.
Shuffle ($SHFL) Launch Details
Shuffle is a leading crypto casino and sports betting platform that launched in February 2023. Since its inception, the platform has grown to over 35,000 users and 2.8 billion bets across a suite of innovative products. The LBP will begin on March 10th 22:00 UTC, running until March 13th 22:00 UTC.
The LBP will be hard-capped at 20,000,000 USDC. The initial price of the SHFL token will be $1, with a predetermined price curve that can be affected by buys and sells into the pool. All LBP participants can buy or sell SHFL tokens in the LBP at any point of time until the sale ends or the hard-cap of 20,000,000 USDC is achieved.
https://x.com/shufflecom/status/1765085792609984522?s=20
Key Information:
Start Date & Time: Sunday, March 10th 2024 - 22:00 UTC
End Date & Time: Wednesday, March 13th 2024 - 22:00 UTC
Chain: Ethereum
Hardcap: 20,000,000 (twenty million) USDC
Available to Purchase with: USDC
Starting Token Price: $1 USDC
Starting Weight: 95% / 5%
Ending Weight: 20% / 80%
Vesting: None
In order to ensure consistent, stabilized liquidity on Bazaar as the sole trading venue for the duration of the sale, the protocol utilizes receipt tokens (rTokens) as the sale token. These rTokens are backed 1:1 by the official sale token with limited transferability, and sale participants can redeem rSHFL for SHFL once the sale has concluded. This ensures that there are no logistical challenges for creating and adding liquidity post-sale. For more information, please refer to the Bazaar protocol documentation.
All details regarding the LBP will be communicated and updated through official social channels.
Wen Token?
The Bazaar governance token will play a substantial role in dictating the curation and governing of Bazaar as a launchpad platform, while also serving as a means to reward active participants who push forward decentralized project curation and community-led due diligence. For sale participants, trading volume and activity during the first phase of Bazaar’s mainnet rollout will be retroactively rewarded. More information on this soon.
Shuffle is only the beginning for Bazaar, and we’re incredibly excited to be empowering open access to high-quality launches for all. Bazaar V1 is audited by Ottersec, with the full report available in the protocol documentation. Whether it be protocol-related questions or troubleshooting during the LBP, make sure to join our community below to stay up-to-date and informed: