Oiler token sale begins in an hour. OIL ranked high broadly
Oiler recently announced that its native token OIL would become available for investors on May 6, 2021. Oiler Protocol provides instruments for trading, as well as betting on changes in blockchain protocol parameters. Its team has built a Google Sheet, allowing customers to build potential scenarios regarding the OIL token’s price evolution.
Oiler’s Liquidity Bootstrapping Event (LBP) will occur today, around 1 PM UTC. LBPs are not widely spread in the DeFi market yet. Nonetheless, the team thinks that LBPs should be a standard when it comes to token launch.
Oiler’s LBP will begin with a token price of $0.75. That means a $75 million fully diluted valuation, with the capacity to go as low as the seed price of $0.07, a $7 million fully diluted valuation. According to the company, it will add 1,775,000 tokens or 1.775% of the total supply of Oiler to the LBP.
The team has been working on a product that will bring more hedging capacities to investors trading in decentralized markets during the past months. They are now planning to open up their Alpha on Ropsten to selected users while collecting feedback.
Is Oiler planning to launch its product now?
Oiler stated that it is not ready to launch its product yet. Still, the team decided to go forward with their LBP so they could start onboarding a community of alpha testers.
The company intends to release its mainnet after concluding a complete audit and conducting more user testing. Despite that, investors can already join their Discord servers. Soon they will be able to try out the beta of the product on Ropsten, as well.
In the Google Sheet, users can find everything relevant regarding OIL’s private sale, as well as the LBP and the first month of trading. Oiler stated that it is acting in the most transparent way to make sure that anyone can pursue their own scenarios prior to the LBP.
Customers can modify all the green cells in the Gsheet. However, the team warned that users shouldn’t touch the yellow cells while the blue cells are constants.
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