LBP Launch Time — 12:00 PM UTC — July 5th, 2023
Welcome to a pivotal moment in Sonic’s journey, the kick-off of our second Liquidity Bootstrapping Pool (LBP#2) event. Spanning over five days, this occasion offers up 1 million SonicX tokens, creating a unique opportunity for early backers to be part of our transformative trajectory.
Acquired SonicX tokens during this event will be convertible into SOC tokens, the official utility token of our platform, following the launch of our Service Nervous System (SNS). With the valuation of this offering guided by the first LBP event outcomes, it is a strategic opportunity for early participation in the thriving Sonic ecosystem.
Our LBP#2 event also introduces a generous reward mechanism in the form of Sonic bonus tokens. Participants can earn three times (3X) their SonicX token purchases during the event, creating a rewarding experience that significantly enhances the return on their contributions.
LBP#1 and LBP#2 Snapshot
Upon the conclusion of LBP#2, we will capture snapshots of both LBP#1 and LBP#2. Consequently, if you have secured tokens from both pools, it is paramount to hold these tokens in your wallet post-event. In the event that you choose to sell your tokens from LBP#1 during the LBP#2 event, you will be excluded from the snapshot.
For instance, let’s say you have 500 SonicX tokens from LBP#1 and another 500 SonicX tokens from LBP#2, giving you a total of 1,000 SonicX tokens. If you keep these tokens in your wallet without selling any during the LBP#2 event, you’ll be eligible for the bonus.
Suppose a participant holds 500 tokens at the end of the LBP#1 event, with a 20X bonus multiplier in place. They stand to receive a substantial bonus of 10,000 tokens, credited directly to their wallet following the SNS launch. The bonus for the LBP#2 is 3X. Therefore, the 500 tokens you’ve secured from LBP#2 will attract a bonus of 500 * 3 = 1,500 tokens.
We will take a snapshot tomorrow as supporting data to ensure accurate verification. It is important to note that all wallets included in this snapshot must maintain the same token balance until the main launch of SNS/SOC to qualify for the 20X reward. Any additional tokens accumulated after the snapshot will be considered for the LBP 2 rewards, which offer a 3X multiplier.
Roadmap
The funds collected via the LBP will be invested diligently into the project’s development. For more details on our development plan, we encourage you to explore our roadmap on Sonic Git. https://app.gitbook.com/o/-Mfx0DqA-Sn1S8SkuxMO/s/TgE6UiCkY872SApSU1a8/future-of-sonic-roadmap
LP Pool
We recognize the indispensable role liquidity plays in any token’s success. In line with this, we pledge to allocate 30% of the total funds raised from the LBP toward cultivating a liquid market for SonicX tokens. This will empower SonicX token holders with the freedom to strategize their token trading based on market dynamics, providing enhanced control over their investments immediately following LBP#2.
