Help Bootstrap the BED Index!
The BED Index launch is imminent and we need your help to bootstrap liquidity!
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Dear Bankless Nation,
The time has come for the BED Index. We’re doing the final touches and prepping for the launch.
But we need your help! We’ve been tasked with bootstrapping the BED index with liquidity on Uniswap V3.
Interested?? Perfect.
Read on.
Authors: Bankless DAO Writers Guild (Ap0ll0517, 0xLucas)
This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st 2021 you have been subscribed to this newsletter at launch.
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Bootstrapping Liquidity for BED launch
⚠️ THIS INFO IS CONFIDENTIAL. PLEASE DO NOT SHARE PUBLICLY. ⚠️
Alpha: The BED Index launches tomorrow!
This is a monumental moment for the DAO. Not only is BED generating revenue for the DAO, it is a full portfolio solution intended for beginners. This is the best way to onboard your friends and family into crypto. It embodies and represents the Bankless persona—it represent the DAO.
The BED Index is the first step in how we help 1 billion people go bankless.
As BED is primarily aimed at customers at the start of their DeFi journey, such a limitation to exchange issuance is not desirable. To avoid that, there needs to be sufficient liquidity for new buyers. The Index Coop team passed IIP-54, and will be contributing $250K of seed liquidity to bootstrap the BED:ETH pair on Uniswap V3.
However, our community is expected to contribute to the bootstrapping fund as well. Right now there is $50K in the pool, we need to provide an additional $200K. Deeper liquidity equals less slippage, which is a much more favorable experience for the Defi noob. This is what we want to help facilitate as a community.
It's time to put our money where our mouths are.
Here’s what you need to know:
🚨 THESE LINKS ARE CONFIDENTIAL. DO NOT SHARE PUBLICLY. 🚨
You can mint BED from TokenSets using this link.
You can also add liquidity here. (UI bug: make sure to change WETH9 to ETH)
Need a more detailed guide? Check this one out.
This is a call to action for all members. The DAO needs you!
Let's help the world get in BED!
With over 6,000 members, if every DAO member simply purchased 1 BED token and provided it to the BED:ETH pair on Uniswap V3, we could add over $500K and create deeper liquidity.
Hint: There are perks boiling in the DAO pot! There could be special POAPs for BED holders and liquidity providers! There are also discussions for retroactive airdrop for anyone that mints and LP’s BED prior to launch! Who knows…
Action Items
To help facilitate a smooth launch, you must first purchase BED and then add liquidity to the pair on Uniswap V3. Check out this guide for instructions.
These links are very sensitive. DO NOT disclose them to anyone outside the DAO.
🙏Thanks to our sponsor
UMA
UMA helps DAOs build products to diversify their treasury. Most DAOs treasuries are imbalanced. By using UMA’s range tokens, KPI options, and call/put options, DAOs can prepare their treasury for any market.
👉 Join the #bankless Channel in the UMA Discord.
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Awesome. And super excited. I had a question about minting. Does minting mean "Issuing BED with TokenSets" or "Purchasing BED with TokenSets"? Or does minting only refer to issuing? And is one way more beneficial to the token and/or Bankless DAO then another? Thanks.
Great job getting this info out there!