Fluid Tokens Liquidity Bootstrapping Event
Episode by Peter Bui on January 18th, 2024
Fluid Tokens is currently going through their token sale process via Minswap in a Liquidity Bootstrapping Event. This event allows users to add liquidity into the trading pair over a 4 day period to help determine the initial price of the $FLDT token.
At any point in time, the user can remove liquidity if they believe the price of FLDT is too high. This flexible and casual method of token sale ensures that people have plenty of time to participate or change their minds.
SCATDAO Reports on Fluid Tokens
Xerberus Research Tool
Visit the Xerberus website to see when they report on Fluid Tokens.
Listen Back to the X Space AMA with Fluid Tokens x Minswap and Myself
Find Out More about Fluid Tokens
You can find out more about the event via the Fluid Tokens website at: https://fluidtokens.com/
Access the teams whitepapers: https://docs.fluidtokens.com/whitepapers/
The Fluid Token’s LBE liquidity bootstrapping event is live right now and this is really cool. Check this out. In 10 minutes, 13 minutes, they hit the 2 million ADA mark of ADA raised for this particular event. Now it really goes to show the amount of support that they’re getting at the moment from the community. They had launched their platform over a year ago and have been delivering…
tirelessly all these brand new features brand new smart contracts for the Cardano community and It’s really good to see the amount of support they’re getting in such a short period of time from the launch of this LBE event Now for those that don’t know I am a fluid tokens ambassador So I am very biased towards this project and I do get paid in fluid tokens I’m on the same vesting schedule as the team. So I went see tokens for this for about another year
after the launch of the actual token itself on the liquidity pools. Now, if you wanna get behind any project, it’s always important to do your own research. And this do your own research tool from ScatDAO is absolutely brilliant. It helps you go through and answer the basic questions and some more advanced questions about any project out there. And it will build a score rating for you on that project based on how you answer those things. And there was a…
competition that was going on from ScatDAO to find these types of reports, get the community to do them as thoroughly as possible. And this is one of the reports that came out from the team. This one was from, I think it was from Gabe, and it’s given Fluid Token’s team an 86.67% scoring. Now let me just pull up the actual report itself so you can actually see what you get from it.
So this is a lot of the stuff that you should be asking if you’re getting into any sort of project. I’ll just scroll down so you can see some of the information. So you’ve got the tokenomics, you’ve got the general information about the code, the tokenomics and the spread and everything else around that. But then also it goes into the details about the team, some very important questions that you should always be asking, such as are you affiliated with the team? So I would have answered yes, and this will really skewed the scoring here as well.
But then it goes through, do you know the team, the team anonymous, are the team real, do they have the experience to execute the project, and you have to go through and do your research behind all of those things. So this is a fantastic tool for any project out there. So please, I’ll put the links down below so you can check out this report, but then also do your own research tool so that in the future, you can go do this yourself too on any project that’s out there.
Another tool that you can use to help with your research is this one from Xerberus. They do deep analysis on all the various tokens out there in the community. They’ve done 71 tokens at the moment and these are tokens that actually exist and are trading. So you won’t find fluid tokens here at the moment, but as soon as they do launch, they’ll pull in the data or the on-chain metrics, the amount of wallets that’s holding tokens and everything else around it. So you can get an idea of whether this is a good buy or not.
You can see here they have a growth score of the potential gains that you could get from the project and also a risk rating. Now that information is gated behind an NFT, so if you do want that access you do have to buy the NFT. But really good tools out there for anyone that is looking into getting to particular projects in the Cardano ecosystem. Now if you want to get through the white papers from Fluid Tokens, I’ll put the links down below as well. Now, like I said, they’ve launched.
their protocol, they’ve launched the peer to peer lending, the lending pools, renting and boosted stake. And just from an earlier X space, Twitter space, they were talking about their platform aquarium, which is their Babel fees implementation. What are Babel fees? That’s essentially you can pay transactions or do swaps or do anything on particular dApps, but use Cardano native tokens for anything.
Yeah, okay. What’s the point of that? I don’t want to pay for transactions with the Hosky token. It’s not about Hosky token. It’s about USD stablecoins or other stablecoins, AUD stablecoins, whatever it might be. Now to be able to pay your on-chain transactions with a stablecoin means that you don’t need to worry about managing ADA. Now for those that are in the ADA ecosystem, such as myself, I’ve got plenty of ADA. I don’t really think about that.
But someone that is coming into the ecosystem for the first time and using something like USDC or USDT, some other sort of stablecoin, they would worry about that. They don’t want to trade their stablecoin for ADA. They just want to use this protocol so they can do something really cool. And that is the idea of Aquarium to try and build that high level of adoption. And I really hope we see a lot of that with the cross-chain development that the team are doing as well.
Now you can also try out the gasless transactions with their Babel fee implementation. You can get to it in the show notes down below. I’ll put a link for you down there, but this is it on the testnet. So you can do a transaction through this particular platform and not pay the ADA transaction fee there. So really, really interesting implementation. And we’ll see this implemented and used in 2024.
Now this is the platform, like I said, they have launched over the last year and they’re growing phenomenally. You can borrow and lend NFTs, there’s NFT pool liquidity as well for those NFTs. You can rent NFTs such as movies or books, whatever it might be. Maybe there’s a project doing a particular airdrop and you can rent out that NFT. People can borrow it, they will get that airdrop and you’ll get the NFT back.
They’ve also released boosted staking where you can provide ADA to their platform and earn a little bit of extra APR by providing that stake key, which is where your ADA is delegated to, to other state pool operators that might need that delegation for their pools. And when they borrow that stake key and that delegation behind that stake key, they need to pay a premium fee for it, whether it’s a 10% of APR back towards.
the lender so it’s a really cool mechanism I’ve spoken about this way too often in my previous videos please do check them out there’s a video around Boosted Stake and how that all works. Now if you have a look at their TVL at the moment in regards to their growth you can see when they released the Boosted Stake how it’s been growing over the last couple of months and they’ve now hit that 3.4 million in terms of TVL on their platform it is still very small for DeFi in general but
It is still early days for them and they’re growing phenomenally. So really good to see this platform grow and the support that it’s been given from the Cardano community in general. Now you can get to the liquidity bootstrapping event on the Minswap website. Go to app.mintswap.org, click on launch bowl from the top navigation menu, and then click on the live event here, the fluid tokens liquidity bootstrapping event. Now, all you need to do now is connect your wallet in the top right-hand corner. I’m using my Nami wallet here.
and then allocate the amount of tokens that you want to provide in this event. Here, I’ve just entered in 10 ADA, but you can provide whatever you want, whatever your risk appetite is. Now, after this event, once the total amount of time has reached, so when this phase has been closed, or they’ve hit their maximum ADA raised of 8 million, you will then receive liquidity pool tokens for this trading pair of
fluid tokens and ADA. Now at that point, you can withdraw that, you’ll get half of your ADA back and also the fluid tokens and you can just hold onto those fluid tokens at that point or you can leave it within that liquidity pool and then start farming for extra rewards. So you do have quite a few options here in regards to how it all works and how you might want to use those fluid tokens to gain extra rewards or sell on the market afterwards. Now let me just continue this transaction here with this deposit. So I’ve entered in 10.
I’ll click on deposit now. Now my NAMI wallet is showing me a transaction here that I’ll just need to sign. So let me just sign this transaction and away it goes. So that is submitted on chain. And now my allocation for this particular liquidity pool bootstrapping event is done. So now that your liquidity is in the LVE, you will receive a token or a share of this particular pool.
Now at any point in time, you can withdraw that back out. So if you’re seeing that this here, that the price of the FLDT token is too high and you don’t like where it’s going at the moment, you can pull all of your tokens back out and withdraw from this particular campaign. So this is the withdrawal process. I can now just say, I don’t wanna add in as much. I can withdraw half of my LP tokens for this.
click on withdraw and then pull that back out of the ecosystem. So I’m just going to sign this transaction. So now that will reduce my exposure to this particular LBE, and I will get half the amount of tokens that I originally asked for. This is all about price discovery. We have a four day period where the users and supporters of this ecosystem have time to add ADA in or withdraw ADA out to try and work out the best price for the fluid token overall.
there are those minimums and maximums of ADA that this particular LBE is looking for as well. So just keep those factors in mind because if we do hit that 8 million ADA raised, the sale would close afterwards and then all that ADA will be used in that liquidity pool. So that’s all I got for you guys. Pretty excited that the Fluid Token’s team has gone to this point. I’ve been such an avid supporter of the project for quite a long time now and I’m so happy to see them continuously deliver
one thing after another. Now there is one little bit of extra alpha that I’ll release for you guys here. It was spoken about in the last twitter space that was on and this is what Matt does in his spare time and he was working with Michele, another brilliant Italian developer in the Cardano ecosystem and they’ve been working on ERC-20 like SIP and this is a brand new standard that will allow for USDC
functionality and their requirements that they need to be able to implement USDC on Cardano so this is the ability to claw back or freeze assets on the Cardano blockchain so if you want that particular feature you need to mint your token using this type of SIP that they’re putting in place at the moment so really cool what they’re delivering really cool that they do this kind of stuff in their spare time
totally support everything that the Fluid Tokens team is doing. If you want to hear that Twitter space, I’ll put a link to it down below as well, so you can tune in and find out exactly what the team are doing in 2024. Really exciting stuff. If you found this video useful, please give it a thumbs up, click subscribe, click that notification bell, and I’ll see you in the next video. Yeah, yeah, gotta do it like that. You’ve been listening to the Learn Cardano.