Guide: How to Participate in the Buffer OTC Sale on SuperLancher V3?
The Buffer OTC sale on SuperLauncherDAO will be live from Dec 16th, 2022 to January 15th, 2023. In this post, we will share the key details of the sale, a step-by-step guide on participating, and answers to some of the most frequently asked questions regarding the sale.
The OTC sale will allow us to maintain a development treasury that can accelerate and sustain the upcoming product development and drive user growth. Additionally, Buffer mainnet launch is the beginning of a long runway of innovative products and real utility, and the loyal support of our community is critical to our success.
The raised funds from the OTC sale will be used for purposes including but not limited to:
- New product development including knockout options, above/below options, & no loss tournaments.
- Community growth campaigns include referrals, weekly trading leagues, leaderboards, partnerships, composable product & strategy building, and more.
- Other community-governed marketing endeavors
- OTC sale Date & Time: Dec. 16th, 2022 at 2pm UTC to Jan. 15th, 2023 at 10am UTC
- Investment limits: You can participate in the OTC sale with a min. investment amount of 100 USDC and max. investment of 25,000 USDC.
- Sale Price: 2 million esBFR and 3 million BFR will be available for this OTC sale on Superlauncher at a 40% discount on the spot price.
What does that mean?
The OTC sale uses a dynamic fundraising model, meaning whenever you enter your buy, the price is fixed at a 40% discount, with $0.15 being the minimum price after the discount.
- Distribution tokens: OTC sale participants will receive an allocation of 40% esBFR and 60% BFR tokens. More details on the token distribution are mentioned below in the “Next Steps” section.
How to participate?
Step 1: Anyone can participate in the sale on a first-come-first-serve basis. To participate, head to the OTC sale page on Superlauncher (begins Dec. 16th) here: https://superlauncher.io/otc-v0/3/information
Step 2: Review the terms & connect your wallet by clicking on the “Unlock Wallet” button or the “Connect Wallet” button at the top right-hand side.
Step 3: Enter the amount of USDC tokens you want to deposit (min amount: 100 USDC; max amount: 25,000 USDC). As mentioned previously, you will automatically receive a discount of 40% once you enter your buy, with $0.15 being the minimum price after the discount.
Before you deposit your tokens, the pool will need your permission to transfer the investment token from your wallet to the pool. Click on “Approve” to proceed.
Step 4: Once you’ve approved the transaction, you will successfully contribute to the OTC sale. Read the “Next steps” below to learn how you will receive your esBFR and BFR allocations.
- OTC sale participants will receive 40% of their allocation in esBFR tokens immediately after the sale closes.
- The remaining 60% of the allocation in BFR tokens can be claimed after 6 months with linear vesting over a period of 360 days. In the meantime, users will receive Tradable certificates (SuperCerts), which act as token lockers with a derivative certificate that can be traded on the Superlauncher OTC Marketplace.
Example: For the sake of this example, let’s assume that Alice contributes 10,000 USDC in the OTC sale. Let’s also assume that the spot price of the BFR token is $0.312. After applying the 40% discount, the discounted price is $0.19. So at the end of the OTC sale, Alice receives approximately 52,631 tokens in total.
Out of this, (40% eBFR) i.e. ~ 21,052 esBFR tokens will be distributed to Alice immediately after the sale ends. 6 months after the sale, the remaining allocation. (60% BFR) i.e.
~ 31,578 BFR tokens will be distributed to Alice in tranches of (in this case) 86.5 BFR tokens per day for the following 365 days.
Have more questions about the OTC sale? Check out our FAQ section down below:
- How do I participate in the OTC sale?
The OTC sale is being hosted on Superlauncher👉 Here!
The sale begins on December 16th, and all interested users can participate simply by depositing the desired amount of USDC tokens to receive 40% esBFR (immediately after the sale) and 60% BFR tokens (with 6 months cliff and 365-day vesting).
- How do you register for the OTC sale? I’m on the SuperLauncher website. Do I have to own svLAUNCH tokens to register?
Users don’t need to register or hold svLAUNCH tokens to participate in the OTC sale. The Superlauncher team set up the registration period for svLaunch token holders to receive up to 2% rebates on their purchased amount. The actual OTC sale begins on December 16th, and users can participate without registration on a first-come-first-serve basis.
- How does the 40% discount on the spot price work?
A 40% discount on the BFR spot price (min. discount price of $0.15) is automatically applied when you deposit your USDC amount.
- When do I receive my BFR allocation?
OTC sale participants’ BFR allocation will be locked for 180 days. After 180 days, the tokens will begin vesting linearly over a period of 360 days.
- Do I receive 100% of my esBFR allocation in one go?
Yes, OTC participants, receive 100% of the esBFR allocation immediately after the sale ends.
- What can I do with the esBFR allocation that I receive immediately after the OTC sale?
Users can either:
- Claim and vest their esBFR tokens over a period of 365 days to receive liquid BFR tokens.
- Stake and compound their esBFR on the Buffer Earn page to receive a share of protocol fees (in USDC) and more esBFR tokens.