The Stargaze Liquidity Bootstrapping Event starts on Dec 18th, and lasts for 3 days.
STARS, the Stargaze staking token, will achieve liquidity for the first time on December 18th via a Liquidity Bootstrapping Pool (LBP). The LBP is an asymmetric liquidity pool specially designed for a token to achieve a market price over a period of time, in this case, 3 days. Please read this post for more details on how the LBP works.
In order to fund the OSMO half of the LBP, the Stargaze community requested a loan of 135,000 OSMO from the Osmosis community pool. The proposal received the 2nd highest voter turnout in this history of Osmosis governance, and passed with 97.02% yes votes.
After the LBP, Stargaze will repay the loan in STARS, diversifying both community pools, with Stargaze getting OSMO, and Osmosis getting STARS. This is the first in the Cosmos ecosystem where two protocol DAOs have diversified their treasuries in this manner.
The LBP completes Phase 1 of the Stargaze Phased Launch plan.
After the LPB, Stargaze community pool can opt to create a regular 50:50 STARS/OSMO pool on Osmosis. Pools with other pairs such as ATOM and/or UST may also be created, along with liquidity incentives.
Stargaze plans to turn on inflation on Jan 1, 2022 via governance vote, enabling rewards for staking. Details of the inflation schedule was covered in our previous post. Stay tuned to our social media for updates on staking interfaces.
Finally, we’ll be ready for Phase 3, the launch of the NFT marketplace! This requires a chain upgrade that enables CosmWasm smart contracts that should happen sometime mid-January.
2022 is going to be a massive year for Stargaze. See ya’ll on the other side :)
Stargaze is an interoperable NFT marketplace in the Cosmos ecosystem.