If you’ve been around new token launches recently, I’m sure you have experience with this one major issue. For example, bots are getting in at the lowest earliest prices. As a result, you end up getting no IDO allocations and miss out on those 100X opportunities.
As a result, Copper Launch has a solution with slowly declining prices, where bots no longer will have an advantage. You will never have to FOMO yourself again. Therefore, in this article, you will discover how Cooper works.
What is Copper Launch?
The Copper launchpad’s goal is that anyone can launch a token and that also anyone can get a fair chance to get it if they want. It’s not like those exhausting Lottery IDOs. That’s where their price decaying strategy lets you decide, as the price drops slowly, which price is best for you to get in on this project.
Source: Copper Launchpad
Another advantage we see there is that you now need to buy and stake their native tokens in many IDO launchpads to participate in IDOs. For example, in Raydium, you need $RAY. For Paid Network, you need $PAID. It gets frustrating at times. However, to participate in Copper, you DO NOT need to stake any token.
How to Use Copper Launch?
Copper is designed to take advantage of Balancer’s Liquidity Bootstrapping Pools (LBPs), which maintain a 2-token liquidity pool: Token X and DAI. Token X is new and volatile, and DAI is the stablecoin. For example, a classic LP in a DeFi app would be 50/50 of these tokens. On Balancer, it isn’t.
Token X is volatile and tends its weighting to go down. It could start at 85% and move down 5% every couple of hours. However, DAI sees its weighting go up. Balancer believes it will be less volatile than a traditional pool that is 50% Token X and 50% DAI since Token X’s price can go anywhere and lead to impermanent losses.
On the other hand, Copper works with three networks: Ethereum, Polygon, andKovan. Therefore, you can currently connect Metamask, as well as:
- Gnosis Safe Wallet
- Ledger Hardware Wallet
- Or use WalletConnect compatible wallets.
Copper Team & Tokenomics
Before we get into the mechanics of using this auction site, we need to know the team that supports this exciting project. Alchemist is the team behind Copper. They have a couple of other cool projects they have done besides Copper. However, there is no information about the team publicly available.
Also, Alchemist, the parent company, has a token $MIST. It has a total supply and a circulating supply of 1.23 million coins. According to their website, just under half, $22 million worth of liquid coins. Moreover, Copper itself does not have a token.
On the other hand, there is little information about tokenomics available except what they tell us on the front page of the Alchemist website. There is no white paper, no documentation other than “how-to” tutorials on using their apps. The one upside is it looks like we don’t have to use $MIST to use the CopperLaunch, and the funds for investment go right to the token address.
Getting Started in Copper Launch Auctions
Copper makes money from a part of the swap fee and a volume fee. The swap fee is the fee you pay to swap your coins for the auction coin. The volume fee is what the coin pays to list their coin on Copper, so you, as a buyer, don’t see that fee.
The potential growth for prospects is enormous if they can make token launches fair and increase their level of transparency. For example, Copper’s TLA or Token Launch Auction starts in one of 4 states. The auction is either:
- Scheduled but not started
- Early Live Auction (with possible moderate buying activity)
- Completed Auction
- Completed Auction with Significant Buying Activity
But remember, the way this auction works, the price drops continuously. The only reason to buy early is if you believe it’s a fair price at that time or you think the auction will sell out. Here are three more tips:
Tip #1: Anyone Can Create an Auction
This is important, and Copper says it properly in their auction creation documentation. Anyone with a valid ERC-20 token address can create an auction for theirTokenn.
This means due diligence is critical, or you could get scammed. Since many projects are not brand new and have been in development or have products to offer, this is a non-issue for many projects that list here. With only three collateral assets here: WETH, USDC, and DAI.
There is one third-party curator for projects called LBP Launches. But most auctions are unvetted, so Copper hopes to add more to continue to reduce this risk of scams or rug pulls.
Tip #2: Copper is Completely Permissionless
Anyone can connect their wallet and start participating with no KYC requirements. Whichever of the three chains you use, that’s whose auctions you will see. So for Ethereum, we see two live and eight completed auctions on the vetted list.
However, if we pick FNC, which completes in 2 days approx, we can see more information about them and their auction. There’s other great information like Volume, Liquidity, %Weighting, % of Tokens Sold, among others.
Finally, buying is just as easy as swapping on any DeFi site.
Tip #3: Follow Those Who Came Before to Avoid Their Mistakes
While Copper Launch is new and their approach to token launches is innovative, you will not be the first to use it. Therefore, you can benefit simply by watching and waiting. Copper suggests that many projects that start at a weighting of over 90/10 for the token are purposely pricing too high to get the bots and frontrunners out.
If you missed out on the auction, most tokens list on Quickswap or Uniswap for you to buy there on the open market.
Copper Launch Competitors
In a way, every IDO platform is a competitor to Copper. Their goal is to upend how these offerings are structured, so frontrunners no longer benefit. So pick your favorite IDO platform, like Binance Launchpad, GameFi, Seedify, Trustpad, DAO Maker, BSCPad, and RedKite, all would be its competitors.
However, the best of these launchpads platforms will thrive and continue forward. Therefore, this method of token launch is the future, and this could be the end of IDO launchpads.
Copper Launch is giving us a peek into what token launches will look like in the future. Also, they have some great features that help us as investors like:
- You can buy with ease at the price you like.
- You can see the Etherscan (or another block explorer for other chains) see visual evidence of other purchases.
- It’s wholly permissionless, so Anyone, including Americans, can use it
- It’s easy to use
- You can see many valuable non-price statistics like Volume and liquidity
Moreover, what we see now is only the beginning. As we said earlier, Copper Launch does not have its token. But, since we don’t need the token to use the platform, we only need WETH, USDC, or DAI and an address to send them to to get our tokens. We don’t see this as a huge problem.
So check out Copper Launch. Chances are high. It will become the new way to buy new tokens.
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