Unlock "The Last One," Bitcoin public chain Side launches a new token issuance model.

Today, a large number of users are ready with their addresses, waiting for the Side airdrop registration to start promptly at 6 PM.

As a dark horse in the Bitcoin ecosystem, the popularity of the Side public chain continues to rise. Last night, the Side team announced a brand new token distribution plan, officially launching "The Last One" token issuance event at 2 PM today, offering a grand prize of 1,000,000 SIDE to the last buyer within 10 minutes during the event.

The Last One is an innovative design based on the traditional LBP (Liquidity Bootstrapping Pool) mechanism, aimed at encouraging active user participation and further enhancing the fun and interactivity of token distribution.

Participation link: https://app.fjordfoundry.com/token-sales/2rAWk5vqp3LqwkC6eoZwPy9TFmd58osjA5BdezQZnfBi

What is LBP?

LBP stands for Liquidity Bootstrapping Pool, which is a fair and efficient way to distribute tokens and discover market prices through a dynamic auction mechanism, similar to a Dutch auction.

In an LBP, the initial price is intentionally set high to prevent bot participation and ensure fairness. Over time, the price gradually decreases as the weight of the liquidity pool is adjusted, allowing participants to choose to buy tokens at what they consider a reasonable price point.

When the price reaches a fair level, it typically stabilizes due to participant demand, achieving a balanced and fair token distribution. This mechanism promotes widespread participation while ensuring a transparent and efficient process.

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 incentives.

How The Last One Works

The Last One is a token distribution event based on a "buy only" LBP mechanism, featuring a unique countdown function. The event will last less than 7 days, with the following rules:

Phase 1

Time: November 26, 2024, 14:00 - December 3, 07:50 (Beijing Time)

If a participant purchases 1,000 or more SIDE tokens in a single transaction, a 10-minute countdown will start.
If no other participants make a purchase during this countdown, that buyer becomes "The Last One" and wins a reward of 1,000,000 SIDE tokens (The Last Reward).
If someone makes a purchase during the countdown, the timer resets, and the process starts over.

Phase 2

Time: December 3, 2024, 07:50 - 08:00 (Beijing Time)

In the last 10 minutes of the LBP, the final buyer who purchases at least 50,000 SIDE tokens will win a reward of 1,000,000 SIDE tokens.

Other Details

Use of Block Explorer

The transaction history updates on the Fjord frontend may take a long time (up to 5 minutes). It is recommended to use a block explorer to obtain real-time transaction data, as all final decisions will be based on records on the blockchain.

Reward Cap

This event reserves a maximum of 3,000,000 SIDE tokens, allowing for up to 3 winners.

Avoid Frequent Swaps

A 2% exchange fee will be charged for each purchase, with the fee collected by Fjord Foundry and the curators; the Side team does not participate in this fee sharing. It is recommended to avoid excessive trading to reduce the impact of fees.

$SIDE Token

Blockchain: Solana
$SIDE Contract Address: 32E7eivh8gtU1FvKs7qVfVvaKeieq62CVa2ZpSca8ZGy
Total Supply: 1,000,000,000
Initial Circulation: 229,000,000
After the launch of the Side Chain mainnet in January 2025, users will be able to convert SPL $SIDE tokens into native $SIDE tokens.

Reward Distribution

After the LBP event ends, the Side team will verify the winning addresses and manually send 1,000,000 SIDE tokens within 48 hours.

In extreme situations or malicious interference (such as attacks on the frontend), the Side team reserves the right to investigate and withhold rewards.

Learn more about the $SIDE token economic model.

Key Parameters of LBP

Unlock "The Last One," Bitcoin public chain Side launches a new token issuance model

Tokens can be claimed immediately after the LBP ends.
The team will then create a DEX liquidity pool.

In Conclusion

The Last One event has already begun, followed closely by the competition for the airdrop. Let's stay tuned.

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