We're excited to share details on the upcoming MPL launch. Maple will be conducting a Balancer Liquidity Bootstrapping Pool (LBP) on April 28th, 2021. This will be the only way to purchase MPL at launch - please be aware of scams.
We'll be hosting a community call on April 21 to answer questions (details below).
Maple will be launching its governance token MPL through a Balancer LBP to ensure fair and accessible distribution to the community. LBPs are designed to avoid front-running and allow anyone to participate.
How it Works
Balancer is a decentralized trading protocol built on Ethereum. It can support liquidity pools of up to eight assets and pools with variable weightings. In March 2020, Mike McDonald from the Balancer team introduced the idea of Liquidity Bootstrapping Pools (LBPs). In September 2020, Perpetual Protocol became the first team to leverage a LBP when it launched $PERP.
Balancer LBPs offer protocols flexibility as they can supply an unbalanced ratio of tokens (e.g. 80:20 XYZ:USDC). The pools are designed to avoid front-running. By starting at a high initial price that gradually descends over time, participants are incentivized to wait until the price falls during the distribution period. For example, Perpetual Protocol started with a PERP:USDC 90:10 pool and then slowly adjusted it to a 30:70 pool over a three day period, enabling the price to come down gradually.
On April 20, we will be sharing an in-depth guide to the MPL Balancer LBP on the Maple Blog. This guide will include the parameters of the pool and how to participate in the token launch. The Maple team will be available on Discord to answer questions and provide support to ensure our community understands the process and potential risks.
We will be hosting a community call on April 21st at 4PM EST. The Maple founders will give an update on the progress to launch and we'll open the floor to questions. All community calls are recorded and published to Discourse. Add the event to your calendar here.
If you're interested in further reading on Balancer LBPs, here are some resources: