Nsure Network TGE | Balancer LBP User Guide

Balancer Liquidity Bootstrapping Pool (LBP)

Balancer’s LBP solution is what we perceived as the best approach for our initial distribution of NSURE Tokens to early community members out of all the alternatives we considered due to several factors:

  1. IDO (Initial DEX Offering)
    Aligned with our overall project thesis, we found a Decentralised Exchange Offering to be the best match for initially distributing NSURE Tokens to any interested participants. No lotteries, no whitelists or other tradeoffs from alternative funding models.
  2. Fair Distribution
    Looking to offer a fair model for our TGE, Balancer LBP’s allow for typical issues among other AMMs such as front-running bots to be avoided through periodical updates in the weight distribution of the pool. Instead of needing to rush to acquire tokens, users can wait for a price at which they are comfortable with to buy.
  3. Price Discovery
    Inspired in basic principles of dutch auction models, having a decreasing token price throughout the time period of the LBP, users are not forced to buy at any specific price, but rather decide for themselves at which valuation it would become attractive. From a collective perspective, this allows for fair price discovery to take place, having a realistic representation of what the community judges to be a fair valuation.
  4. Other Features like Impermanent Loss Mitigated Pool and customisation abilities, while preserving permissionless nature and scalability, to cater best towards our needs influenced our decision towards choosing Balancer LBP over other solutions.

LBP Structure

This Balancer LBP is intended to act as TGE for interested users and will be closed once the targeted block height (approx. 2 days) is reached. The Dynamics of this LBP are designed to enable users to purchase NSURE while allowing for fair price discovery to happen,.

Guide to buy Nsure during the LBP:

In order to swap NSURE token on Balancer LBP, users will have to go through three steps:

  1. Install and set up MetaMask
  2. Navigate to Balancer LBP via lbp.nsure.network
  3. Swap $NSURE

1. Install and Setup MetaMask

We recommend using MetaMask, which is a Web3 enabled cryptocurrency wallet, to swap tokens on Balancer LBP. You can download the MetaMask extension directly in browsers such as Google Chrome, Firefox. In addition to Metamask, Balancer also supports WalletConnect, Coinbase, Portis, etc. This guide will focus on the use of Metamask, which is similar to other wallets.

2. Navigate to Balancer LBP via lbp.nsure.network

2.1 Go to http://lbp.nsure.network/

3. Swap NSURE

🚨 IMPORTANT — DO NOT SWAP NSURE TOKENS TOO EARLY 🚨

LBP Simulation

We’ve also crafted a Spreadsheet where you can see the expected weights and price development of the LBP in regards to time, excluding any buy-orders.
It can be used as reference to build up your own strategy for buying in:
https://docs.google.com/spreadsheets/d/1JxvcP13QmR_cCgmWciPvKYQEWGwb17Or9koMoiOloOs/edit#gid=2010372975

Alternatives we considered?

Mesa
Mesa is a batch auction platform run by DxDAO on the Gnoss Protocol. Traders on the platform can place their bids on-chain before the auction starts, and at the commerce of the auction, buy orders are matched with sell orders under the condition that traders’ combined welfare is maximized.

Conclusion

As a publicly audited, open-sourced project, Balancer’s reliability, and code is transparent. It allows a variety of tokens to be swapped for NSURE, and it helps us minimise the chance of bots outcompeting humans. As a DeFi project itself, Balancer also fulfils our goals of providing an open-access distribution for NSURE.

If you would like to read more about out mission, vision and values:

Website: https://nsure.network/#/

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Nsure.Network

Nsure.Network

Open Insurance Platform for Open Finance