Fjord Foundry Launches FJO Native Token via LBP (Liquidity Bootstrapping Pool)

Bittime - Fjord Foundry, a leading LBP platform, has announced the official launch of their native token, FJO, via the Liquidity Bootstrapping Pool (LBP ). This news comes after a previous announcement explaining the details of token and LBP distribution.

Launch of FJO Token via LBP

FJO tokens will be available for purchase via LBP (Liquidity Bootstrapping Pool) for 72 hours. LBP is a mechanism designed to create liquidity for new tokens while facilitating price discovery.

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Getting to Know Liquidity Bootstrapping Pools (LBP)

Creating Liquidity 

In the world of cryptocurrency, liquidity refers to the ease with which an asset can be bought or sold. For new tokens like FJO, building initial liquidity can be difficult. 

LBP helps solve this problem by creating token pools that are paired with other established cryptocurrencies (usually stablecoins like USDT). Early buyers contribute to this pool, providing the initial liquidity necessary for smooth trading of new tokens.

Facilitates Price Discovery

When a new token is launched, its fair market value is unknown. LBP uses a dynamic pricing mechanism that adjusts token prices based on demand. 

Early buyers typically pay a higher price, which gradually decreases as more tokens are purchased. This process helps find a fair market price for new tokens through buyer participation.

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Token Distribution Details

Source: @FjordFoundry/X

• Total Supply: 100 million FJO tokens
• LBP supply: 7.5 million FJO tokens (7.5% of total supply)
• Initial Circulating Supply: Estimated 15% of total supply
• Contribution from LBP: Approximately half of the initial circulating supply (approximately 7.5 million tokens) is expected to come from LBP Fjord activities.

This distribution plan shows a gradual increase in circulating supply, reaching around 30% after six months.

Airdrop Community 

In addition to LBP, Fjord Foundry will reward their community with an airdrop of FJO tokens. A total of 4% of the total supply (4 million tokens) will be distributed to the community over a three month period. The snapshot date for the airdrop was previously announced as March 22, 2024.

Conclusion

The launch of the FJO token marks a significant milestone for Fjord Foundry. By using LBP and offering airdrops, Fjord Foundry aims to create a fair and accessible distribution of their native tokens, as well as foster a strong community around the platform. 

With LBP now live, users can participate in earning FJO tokens and contribute to the growth of the project.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.