Creation month - FlyWheel
Demonstrating the BIDSHOP technology while rewarding participation through truly fair distribution of the $BIDS token.
Creation Month's mission is to bootstrap the $BIDS liquidity on Balancer while increasing user engagement on the platform.
Creation starts the day of TGE and will run for 30 days. The liquidity Flywheel overview:
The underlying asset for the IBO auctions during creation month is wETH, which means that auction winners will be able to claim wETH at end of each auction. IBO auctions will run 24/7 during creation month. Click here to better understand how to win IBO auctions.
Regardless of the auction results - ALL BIDDERS will earn Volume Rewards. Every 2 hours a new emission cycle will start and ~280k $BIDS tokens will be released to the auction volume generators (bidders) in that cycle. The more you bid, compared to everyone else bidding volume in that cycle, the bigger portion of $BIDS you will be able to claim at the end of each cycle.
During Creation month we are super boosting the BIDSHOP volume rewards in order to encourage platform engagement.
Click here to better understand how Volume rewards are distributed to all bidders and how to identify arbitrage farming opportunity.
After claiming the $BIDS tokens, you can check out the BIDSHOP innovated staking mechanism veTokenomics to maximize your return and contribute to the BIDSHOP liquidity on Balancer.
Staking LP will provide you with both extra $BIDS rewards and 100% of platform fee in the form of wETH.
LP staking is completly flexible and requires no lock. However BIDSHOP offers you a way to boost your APR and gain an advantage on other bidders in the platfrom.
While doing that you are automatically receiving a 'Lock Score'. If your Lock Score is higher than the platform average you will enable a 2x boost on all future bidding activity and maximize your farming return. learn more here
After Creation Month, we’re open-sourcing the platform so anyone can deploy the auction style of their choice: Silent NFT Auction, Fair NFT Mint Auction, Fair Launch IDO Auction, Debt Auction, and many more twists to come. Volume rewards will continue to maintain the flywheel but with a Halving schedule you can see here