Bounce Launchpad will launch the Bitcoin L2 project XRGB, which is only open to users who have staked AUCTION on BounceBit

2024-02-04 09:51:54

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ChainCatcher news, the decentralized auction platform Bounce Brand announced the launch of a new IDO mechanism on platform X. The IDO of the Bitcoin L2 network X RGB, developed based on the RGB protocol, will only be open to users who stake AUCTION on Bounce Bit.

The IDO of XRGB offers a fixed-price auction pool. Each IDO participant's allocation has a hard cap, which is calculated based on the amount of AUCTION staked on the Bitcoin staking chain Bounce Bit. The more AUCTION a user holds, the higher their allocation cap. Users can choose to purchase the entire allocation cap but are not obligated to use it all. To ensure fair distribution, its smart contract prevents any single participant from claiming the total supply of IDO tokens, ensuring decentralization for all stakeholders.

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