Initial Sale

In order to fund the Initial Prize Pot of the Wenwin 7/35 Lottery, Wenwin will carry out an Initial Sale.

In exchange for providing the Initial Prize Pot (USDC), WW buyers will effectively become owners of the Wenwin Protocol and start value accrual from the revenues generated by Wenwin.

The Initial Sale will be carried out via a Balancer Liquidity Bootstrapping Pool (LBP) on Fjord Foundry (Base) where WW will be sold for USDC in a 72-hour public auction.

Fjord makes it easy to create and use LBPs through their intuitive and easy-to-use website. The main concept allows distribution of Tokens and NFTs with transparent, open and fair price discovery mechanism.

LBPs are a two-sided AMM with dynamically change token weighting (e.g. 1/99 to 99/1 for USDC / WW). LBPs use Weighted Math with time-dependent weights. This means that the WW token price will gradually decline over the course of the LBP, allowing each potential WW buyer to acquire WW at their desired price.

It is also important to note that the Initial Sale benefits from strong flywheel effects: the more funds raised in the LBP, the higher the Initial Prize Pot becomes, which results in a higher Jackpot, which means more ticket sales and higher revenues for protocol, which results in more Buyback and Burn.

More information about the exact timing and parameters of the Initial Sale will be available at a later date.

Last updated