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.

https://docs.bazaar.money/

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:

https://discord.gg/hibazaar

The state of capital formation in crypto is fundamentally broken. Today, crypto-native applications and infrastructure are more performant, secure, and intuitive to use than ever before, with a record number of on-chain participants and no shortage of novel protocols and innovative ideas being bootstrapped on a daily basis.

Despite this, existing solutions for fundraising remain deeply flawed, with opaque and centralized curation processes, fragmentation in an increasingly multi-chain world, and highly extractive fee models. Bazaar is built to replace these incumbent walled gardens and democratize a more transparent and equitable means of fundraising.

Empowering transparent, community-driven launches for all

Bazaar is a decentralized, chain-agnostic launchpad providing crypto-natives with a fair, community-centric approach to fundraising. The protocol will support liquidity bootstrapping pools from day one, with support for additional launch types such as capped and uncapped batch auctions in the future. Pioneered by Balancer, LBPs are a tried and true launch mechanism designed to minimize front-running and price manipulation, while ensuring equitable distribution of tokens for all participants.

Bazaar will offer the most competitive fees for both curated and permissionless launches, while incentivizing meaningful user activity. As it stands, existing solutions rely on external curation while levying exorbitant platform fees, and the implications of this are painstakingly clear. Opaque standards of due diligence, lack of alignment amongst stakeholders, and muted price discovery – when combined together – often leads to adverse price action once fees are lifted and liquidity is added post-sale. This ultimately hurts all involved parties, as degraded trust in the platform discourages high-quality teams

In the near future, curated launches on Bazaar will be fully transparent and dictated by community-led governance, with generated fees being distributed to reward high quality due diligence. The vision for Bazaar is to become a decentralized hub for on-chain capital formation, and aligning the interests of all stakeholders is the first step.

Unifying siloed liquidity with Across

Bazaar is partnering with Across Protocol to enable seamless cross-chain swaps, allowing users to participate in launches from any supported chain of choice. Across is an interoperability protocol powered by intents – the only cross-chain intents protocol in production today, enabling the fastest and lowest-cost interoperability solution without security tradeoffs. Bazaar’s cross-chain routing is powered by Across+, a framework for cross-chain bridge hooks that abstracts away the tedious process of manually bridging for the end user.

https://x.com/AcrossProtocol/status/1760696323504783572?s=20

The future is undoubtedly multichain, and Bazaar, by integrating Across’ intent-based bridging infrastructure, is unifying liquidity across previously siloed networks. From day one, projects launching on Bazaar can tap into universal liquidity across Ethereum and leading Layer 2 ecosystems; this major unlock in interoperability means projects can directly raise from their native ecosystems without any concerns over liquidity constraints.

Bazaar will launch with support for cross-chain routing on Ethereum, Arbitrum, Optimism, Base, Polygon, and ZkSync Era, with more L2 integrations in the near future. Performant cross-chain UX is the end-game for all crypto-native applications, and Bazaar is bringing this vision to market, starting with the most capital-efficient and secure bridging solution available today.

What’s Next

In the coming days, Bazaar will announce its first major launch partner, which will undoubtedly be one of the highest profile LBP launches of the year. We will also slowly unveil more details regarding roadmap, partners, and gated access to social channels.

We're incredibly excited to be pushing forward our vision for a credibly-neutral, community-driven launchpad to enable positive-sum games. Stay tuned for more!