Oiler Network will add 1,775,000 OIL tokens (1.775% of total supply) to the Balancer Liquidity Bootstrapping Pool (LBP) at block #12381000 (LBP start block). The LBP will end at block 12394000 (End block).
Oiler's LBP will last approximately 48 hours.
The pool weights start with a 90:10 pool weight for the OIL/USDC pair and will follow its course to gradually shift to a 30:70 pool weight for the OIL/USDC pair.
In the two following guides, users will understand why Oiler's team decided to launch OIL through an LBP and how to participate in the LBP.
This article and any information contained in it is subject to the Legal Notice and Risk Disclosure Statement. Please carefully review the Legal Notice as it contains important legal information, risk disclosure statement, limitations and restrictions relating to the information that we provide, third-party resources and forward-looking statements.
The Oiler Token Liquidity Bootstrapping Event (the “LBP”) is a healthy token price discovery mechanism employed by Oiler. The LBP is not a token sale nor a token offering, and Oiler does not receive any proceeds from the LBP. Assets contributed to the LBP cannot be redeemed or withdrawn by Oiler. Upon completion of the LBP, the assets are technically routed to the Uniswap OIL-USDC pool, and will remain in the Uniswap pool indefinitely.