DVT Token Balancer LBP Launch

Dear Community: 

We are pleased to announce the DVT token Balancer LBP contract is live on Ethereum mainnet! Sorry for taking a little bit longer, as we need to get CoinGecko to support the DVT token contract. 

Please carefully verify the official LBP pool address listed below before participating. We remind all members to exercise due diligence to avoid interacting with a fake pool address and always be aware of SCAMMERS.

https://app.balancer.fi/#/ethereum/pool/0xee4eb7cfbc210b0a6add47dd57308ab6106e6a4e000200000000000000000533

According to the Liquidity Bootstrapping Governance Proposal, the major parameters of the DVT LBP contract are as follows:

Start weights: 80% DVT/20% WETH

Initial DVT balance: 2,441,322 

Initial WETH balance: 57.8 (Based on the spot price of ETH when deployed the LBP)

DVT Auction start time: 9:30 UTC 1 May, 2023

DVT Auction end time: 9:30 UTC 16 May, 2023 

End weights: 50% DVT/50% WETH

DVT token starting auction price 

Based on above initial LBP parameters, the $DVT starting auction price is about $0.18 (similar price range as 10x of the VWAP of $STATE on MEXC in March 2023), and will vary slightly according to the spot price of ETH. To participate, you will need WETH to initiate a swap on the SWAP page during the LBP period. Please visit the Balancer URL listed below and search for the DVT token. 

https://app.balancer.fi/#/ethereum/swap

Additionally, we’d like to list some peer projects’ current marketCap for community reference: 

Lido DAO: $2Bn in fully diluted valuation.

Rocket Pool: $870Mm in fully diluted valuation. 

SSV Network: $292Mm in fully diluted valuation.

At an $0.18 starting auction price, the fully diluted valuation of SafeStake is around $18Mm. For more insights, please reference the tech docs and slide deck at the following links: 

https://parastate.gitbook.io/safestake-overview/ (Gitbook Tech Docs)

https://docsend.com/view/kyq72b6sgv3cw9fe (Deck)

How to convert ETH to WETH 

There are multiple ways to convert ETH to WETH, including Balancer, Uniswap, and 1inch network. Or you can use ETH directly to do swap via the Balancer router. 

Since the LBP contract is running a Dutch Auction mechanism, the token price will linearly decline if users don’t participate in the auction swap. So, there is no rush to swap at the very beginning if you believe the $DVT starting price is not a reasonable market price.

If you want to know more about the LBP, please read the official docs on the Balancer site. Also, please take time to review  the DVT Token Economics Governance Vote thoroughly before participating in the DVT token LBP auction.

Thank you for your continued support in growing the SafeStake ecosystem!

Sincerely, 

The SafeStake Team.