In this article we are going to introduce you to Copper Launch and the necessary steps to participate in the Flux Liquidity Bootstrap Pool.
DISCLAIMER — NO INVESTMENT ADVICE
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this document constitutes a solicitation, recommendation, endorsement, or offer by Open Oracle Association or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
The basics
The following link is the only official link for the Copper Launch distribution:
https://swap.flux.xyz
To Participate in the FLX distribution, you will require the following:
An ERC20 wallet that you own the mnemonic/private key, this can be any of the following
- Rainbow Wallet — https://rainbow.me (a mobile wallet)
To connect Rainbow Wallet to Copper Launch, you will need to select Wallet Connect and then scan the QR code which pops up and then approve the transaction to connect to Copper Launch. - Metamask — https://metamask.io (a desktop based wallet)
To connect MetaMask to Copper Launch, you will need to select MetaMask and then sign the transaction to connect to Copper Launch. - Ledger — https://ledger.com (a hardware wallet)
Depending on how you connect you Ledger to Copper Launch, you will either need to sign a transaction on your ledger to connect directly, or if using Ledger through MetaMask you will sign once on MetaMask and confirm the signature again on Ledger.
At least ~$250 in ETH to pay for transactions
In order to participate in the auction, you will have to approve USDC for trading in a first transactions, and then pay for the gas to make the swap from USDC to FLX.
Some base amount of USDC to swap into FLX
In order to purchase FLX, you will need to own USDC. We use USDC as the base pair as it’s stable and removes volatility from funds raised for the intital liquidity bootstrap and treasury.
Let’s dive in!
1. To get started you’re going to want to head to https://swap.flux.xyz which will bring you to the official link for the Copper Launch LBP
2. After clicking swap.flux.xyz, you will be redirected to Copper Launch, a third party platform for viewing Liquidity Bootstrap Pools on Balancer.
To avoid hacks or fraudulent token launches, it’s imperative to only follow the link to the Copper Platform from swap.flux.xyz
3. You will be taken to the Auction Section of Copper Launch where you will find the FLX Auction, that will look similar to the image below
4. As you can see on the top left you have all relevant information of the Auction including:
- current price
- duration
- end time
- volume
- liquidity
- tokens sold
- funds raised
5. On the right side of the Auction you will see the swap interface which allows you to swap between USDC (a stablecoin backed 1–1 by the US Dollar) and FLX (the native utility token of Flux Protocol)
6. To confirm the swap, type in the desired amount you wish to swap and click, “Approve For Trading” this allows Copper Launch to spend your USDC for FLX.
7. Once you have Approved USDC, you can now swap the desired amount of USDC into FLX.
8. You’re all set! Congrats, you’re part of the Flux journey 🚀
FAQs
What set’s the price of FLX?
The price of FLX starts at $2 and deprecates based on a predetermined deprecation mechanism of 72 hours. Price is determined by demand for FLX set by the market. This ensure the market decides the fair price for the asset from the start.
Why do I need ~$250 in ETH?
Unfortunately with all the activity on the Ethereum network, transactions can be quite expensive, so having a reserve of ETH is a good idea for participation.
When should I start participating in the Auction?
Our team won’t comment on participation or timing. This is a decision you must make yourself based on your view of the fair market price of FLX.
I don’t have USDC, what should I do?
You can go to any major AMM like Uniswap, Sushiswap, or Balancer and swap between most assets and USDC, but make sure to leave enough ETH to pay for transactions though.
For any further questions, please feel free to join the official Flux Telegram here!
DISCLAIMER — NO INVESTMENT ADVICE
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this document constitutes a solicitation, recommendation, endorsement, or offer by Open Oracle Association or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
