Recently, the Bitcoin dark horse public chain Side has gained immense popularity due to its airdrop activities. They announced that they will launch a new token issuance plan called “The Last One” on November 26, bringing a refreshing token distribution method to the market. This article will provide a detailed analysis of the event rules and participation methods.
Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi
What is The Last One?
The Last One is a new gameplay designed by the Side team based on the traditional LBP (Liquidity Bootstrapping Pool), aimed at rewarding user activity and participation enthusiasm.
Review of Traditional LBP
LBP, or Liquidity Bootstrapping Pool, is a method for fairly and efficiently distributing tokens through a dynamic auction mechanism (similar to a Dutch auction). The price starts high and gradually decreases, helping to discover a fair market price and promote broader token distribution.
Unique Features of The Last One
Compared to traditional LBP, The Last One introduces a countdown reward mechanism, which not only fairly distributes tokens but also increases the fun and competitiveness of participation through incentive mechanisms.
The Last One Rules:
Event Time
- Phase One: November 26, 2024, 14:00 - December 3, 07:50 (Beijing Time)
- Phase Two: December 3, 2024, 07:50 - 08:00 (Beijing Time)
Phase One Rules
In Phase One, each single purchase of more than 1,000 SIDE tokens will trigger a 10-minute countdown:
- If no one purchases during the countdown, the buyer will become the “Last One” and receive a reward of 1,000,000 SIDE tokens.
- If someone else purchases during the countdown, the timer will reset and repeat.
Phase Two Rules
- If no one wins in Phase One, the event will enter Phase Two. During this period, the last user who makes a single purchase of at least 50,000 SIDE tokens will directly win a reward of 1,000,000 SIDE tokens.
Event Notes
- Total Reward Pool: A total of 3,000,000 SIDE tokens are prepared for the event, with a maximum of 3 winners.
- Transaction Fee: Each transaction will incur a 2% fee, collected by the partner platform Fjord Foundry, with the Side team not participating in the fee sharing. It is recommended to minimize transaction frequency to reduce costs.
- Reward Distribution: After the event ends, the Side team will verify the winning addresses within 48 hours and manually distribute the rewards. All transaction records can be queried on the Solana blockchain to ensure transparency and fairness.
About $SIDE Token
Currently issued on the Solana blockchain, the mainnet is expected to launch in January 2025, at which point users can convert SPL standard $SIDE to native tokens.
- Total Token Supply: 1,000,000,000
- Initial Circulation: 229,000,000
- SPL Contract Address: 32E7eivh8gtU1FvKs7qVfVvaKeieq62CVa2ZpSca8ZGy
Here are some key parameters of LBP:
How to Participate?
Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi
The The Last One event will be held on the leading LBP platform Fjord Foundry, which has assisted multiple projects in raising over $1 billion. It is worth mentioning that this is Fjord Foundry's first Solana LBP event, and participants need to use SOL tokens to purchase $SIDE.
Conclusion
The Last One adds an interesting countdown mode to the traditional LBP market pricing mechanism and sets the launch time four hours before the airdrop registration opens. Both events are expected to be very popular, so let’s wait and see.
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