Introducing Lockdrop + LBA: A Novel Token Launch Mechanism

DEC 02, 2021 • 1 Min Read

Jose Maria Macedo + 3 others

DELPHI VENTURES AND MEMBERS OF OUR TEAM ARE INVESTED IN LUNA. DELPHI LABS IS ALSO INCUBATING SEVERAL PROJECTS ON TERRA. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY PERCEIVED CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY ASSET OR TOKEN DISCUSSED IN THIS REPORT.

Metus vulputate eu scelerisque felis. Nulla facilisi cras fermentum odio eu. Scelerisque fermentum dui

faucibus in ornare quam viverra orci sagittis. A iaculis at erat pellentesque adipiscing commodo elit. In

fermentum et sollicitudin ac orci. Ultrices sagittis orci a scelerisque purus. Faucibus ornare

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

(Full PDF Report below, but for convenience we’ve included a 15 minute video where we walk through this mechanism)

At Delphi, we’ve spent a long time analyzing and designing token launch mechanisms. Overall, while the space has come a long way since the ICO fixed price sales, we still believe there is significant room for improvement.

As we helped two of our most recently incubated projects–Mars and Astroport–think through their token-launch mechanisms, we couldn’t find any existing structures that adequately satisfied all our design objectives. As a result, we decided to revisit token launches from first principles with the goal of coming up with something tailored to our goals. The result is what we’re calling the “Lockdrop + Liquidity Bootstrap Auction” which will be trialed by Astroport in December and Mars soon after.

In this paper, we explain the design goa

Unlock the whole story

Delphi Pro is our institutional-grade crypto research and analysis offering, providing full market coverage across deep-dive reports, analysis, data and community.

  • Institutional Grade Research
  • Market Updates
  • Protocol Deep Dives
  • Premium Video
  • Analyst Office Hours
  • Private Discord Access
  • NFT Sector Analysis
  • Gaming Sector Analysis
  • DAO Activity & Coverage
  • Delphi Private Events

Starting at $1000 a month**

Create a free account

* Team features available on multi-seat purchase.

** Based on purchase of annual subscription.

Jose Maria Macedo + 3 others