Nostra Liquidity Bootstrapping Pool: Everything you need to know

June 6th, 2024

TL;DR

LBP: https://app.fjordfoundry.com/pools/0xe9C6FACC1205565d0625407EB55d0236B411730d
- Starts: June 10 @ 14:00 UTC
- Ends: June 13 @ 14:00 UTC
Supplied Tokens: 12,000,000 NSTR (12% of supply)
Start Weights: 95% NSTR / 5% USDC
End Weights: 50% NSTR / 50% USDC
Proceeds Allocation: 100% of the proceeds will go to the Nostra Treasury to become protocol-owned DEX liquidity on Ethereum mainnet and Starknet
Smart Contract Address: 0x610dbd98a28ebba525e9926b6aaf88f9159edbfd

Introducing Nostra

Nostra is more than just another DeFi platform; it's a movement aimed at bringing decentralized financial services to the masses. Our mission is to simplify crypto and make it accessible to everyone. Since our inception in August 2022, Nostra has grown exponentially, holding over 70% of the total value locked (TVL) on Starknet, with more than $280 million secured by our platform.

We have built a user-friendly platform that brings together essential crypto tools in one place. With Nostra, you can:

Lend & borrow
Make payments
Swap tokens
Bridge across blockchains
Mint stablecoins
Stake & earn

Nostra's Success and the Next Step: LBP

Our growth has been driven by our dedicated community and the innovative solutions we've provided. With $280 million in Total Value Locked (incl. borrows), $90 million in lifetime swap volume, 484,000 verified users, and 35,000 daily active users, Nostra has established itself as a leading DeFi application on Starknet. Nostra is also among the top 100 DeFi protocols.

The next step in our journey is the launch of our Liquidity Bootstrapping Pool (LBP) for the NSTR token. This event is designed to offer the fairest launch in DeFi with a transparent token pre-sale.

What’s an LBP?

An LBP (Liquidity Bootstrapping Pool) is a special type of liquidity pool designed for token sales that aim for a fair and transparent pricing for new tokens.

Unlike traditional sales, where early buyers can often buy large quantities at low prices, an LBP adjusts the price of the token dynamically, ensuring that everyone has a fair chance to participate.

Why are we doing an LBP?

We are conducting an LBP for the pre-sale of the NSTR token to ensure a fair distribution.

In recent times, the cryptocurrency market has witnessed numerous token sales designed to achieve artificially inflated starting prices, benefiting only insiders. These inflated prices are often orchestrated through collaborations between exchanges and market makers, creating an unfair advantage for a select few.

However, a liquidity bootstrapping pool (LBP) offers a completely different and more equitable approach. The LBP pricing mechanism is open, fair, and transparent, ensuring everyone has the same opportunity to buy the token at any given price.

This transparency prevents manipulation and promotes a healthier market dynamic, where the price naturally adjusts based on genuine demand and supply, allowing for a more honest and fair token distribution.

Using an LBP can prevent early whales from dominating the sale and ensure that our tokens are accessible to a broader audience.

This approach promotes a more decentralized and fair token distribution, aligning with our values and long-term vision.

Features of the LBP

Fair and Transparent Price Discovery: Prices adjust dynamically to ensure fairness.
Accessibility: Designed to prevent early domination by large buyers.
Community-Centric: Encourages a more decentralized distribution of tokens.

Key Details

LBP: https://app.fjordfoundry.com/pools/0xe9C6FACC1205565d0625407EB55d0236B411730d
- Starts: June 10 @ 14:00 UTC
- Ends: June 13 @ 14:00 UTC
Supplied tokens: 12,000,000 NSTR (12% of supply)
Start weights: 95% $NSTR / 5% USDC
End weights: 50% $NSTR / 50% USDC
Proceeds Allocation: 100% of the proceeds from the LBP will go to the Nostra Treasury to become protocol-owned DEX liquidity on Ethereum mainnet and Starknet.
Smart Contract Address: 0x610dbd98a28ebba525e9926b6aaf88f9159edbfd

Tokenomics

The total supply will be 100,000,000 NSTR. The NSTR allocations are outlined below:

Treasury: 12% of these tokens will be supplied to the LBP, and any remaining tokens will go back to the Treasury. The Treasury will be controlled by the Nostra DAO, which will use it to support the growth of the Nostra ecosystem.

Airdrop: 11% has been allocated to award our community members who have helped and supported Nostra in its rise to being the number one DeFi application on Starknet.

Future airdrops: 14% has been allocated to future airdrops as loyal users, existing and new, should be rewarded for their commitment.

Team: 23.77% has been allocated to reward the existing and future team members who have played integral roles in building Nostra since its inception in 2022.

Investors: Nostra has raised ~$5.9mm so far. 26.23% of NSTR supply has been allocated to the investors who helped fund its development.

How to Participate in the LBP

Get your wallet ready: If you don’t have a crypto wallet, create one using Metamask, Trust Wallet, or any compatible wallet.

Ensure your wallet is connected to the Ethereum network. You’ll need some ETH in your wallet to cover transaction fees. You will need USDC to participate in the LBP.

Find the NSTR LBP on FjordFoundry: Visit the FjordFoundry website and connect your wallet.

Once there, locate the NSTR Liquidity Bootstrapping Pool on FjordFoundry. It will be listed under the active pools section.

Buy NSTR

Enter the amount of USDC you wish to use to buy NSTR, confirm the transaction details and approve the transaction in your wallet.

Wait for the transaction to be processed on the Ethereum blockchain.

Once the transaction is confirmed, the NSTR tokens will be deposited into your wallet. NSTR won’t be tradable until the Token Generation Event (TGE) on June 17th.

The LBP will adjust prices dynamically over 72 hours. You can choose to buy at any point during this period.

What’s Next After LBP

Once the LBP is finished, the Nostra team will use 100% of the LBP proceeds to launch two liquidity pools, one on the Ethereum mainnet, and another on Starknet.

NSTR will live both on Ethereum and Starknet.

Users will be able to bridge between both networks using the official Starkgate bridge.

We’re working to add NSTR to other bridges.

The NSTR smart contract addresses are:

Ethereum: 0x610dbd98a28ebba525e9926b6aaf88f9159edbfd

Starknet: 0xc530f2c0aa4c16a0806365b0898499fba372e5df7a7172dc6fe9ba777e8007

The Token Generation Event (TGE) will take place on 17 June with 100% of the NSTR supply fully unlocked.

There will also occur a token airdrop for the most active users and community members. We’re working to get NSTR listed on several centralized exchanges.

Decentralized governance will begin from that point. The governance forum is already set up and ready to start working.