We will be listing our token $NTVRK on Uniswap at: May 21st,2021 at 16:00 UTC.
✅ OFFICIAL $NTVRK TOKEN ADDRESS ✅
Link will be live at 16:00 UTC: HERE
$NTVRK will be paired with Ethereum and will list at an initial price of $0.15.
Uniswap Listing details:
Listing Price on Uniswap: $0.15
Initial Market Cap: $678,750
Initial Circulating Supply: 3,000,000 Tokens
Total token supply: 100,000,000
Fair Launch Protection System, powered by Ferrum Network
⚠️ PLEASE TAKE NOTICE — all those who attempt to use bots or other unfair technological advantages to snipe the Project Inverse Uniswap listing, you will not be able to sell/transfer your tokens! Please consider this your warning. ⚠️
In this article, we explain why we are implementing Ferrum’s Launch Protection system, how it works, and how it’s designed to ensure fairness for the entire community.
The Bots are Out of Control
The problems with bots are well documented. Go to any Telegram channel of a hot new project about to launch, and you will see hundreds of questions about what the project plans to do to prevent the bots from dumping on the community. And as the bull market continues, the problem has only gotten worse. Here are some facts about bots:
- Bots regularly infiltrate Uniswap listings of hot projects and bot owners can make hundreds of thousands of dollars in minutes at the expense of the community.
- Most bots will start dumping within minutes and can dump in the same block as they bought.
- Bot owners will sell at inflated prices to other users after their bots have bought up liquidity and driven up the price.
- In some recent listings, bot owners made millions of dollars within minutes by pumping and dumping on the community.
Here are some visual examples of what this means for the projects:
How do They Do It?
Without getting too technical, the bots take advantage of the speed at which they are designed to operate and are able to buy tokens faster than anyone else. This of course would not be an issue but for the fact they always immediately dump their tokens on the community.
Ethereum block time is ~13 seconds. Because of the long block time, programs can monitor the mempool for unconfirmed transactions. When an Add Liquidity pending transaction is observed in the mempool for a monitored token, the user’s program can execute a buy order in the same block.
This means that bots are always faster than your real community and will buy at the lowest possible price and then dump it on your real supporters.
Example: Paid Network
During PAID Network’s (PAID) token launch, a bot was immediately behind the Add Liquidity Event in the initial block and purchased at the lowest public price. The total buy was 2,152,207.99 PAID for 100 ETH.
They then sold 2,152,207.99 PAID tokens within 7 minutes and 9 seconds and made a profit of 526 ETH ($929,762 @ 1761 USD/ETH)
Cleary, these are bad actors only out to help themselves at the expense of the community. We will not allow this to happen to our project and community.
Stopping the Bots with Ferrum’s Launch Protection System
We are proud to be working with Ferrum to utilize their Launch Protection System. This system was used in the launch of another project (Evolution Finance), and the results speak for themselves.
But how does our Launch Protection system work? There are multiple phases, starting with the preparation phase, including:
- First, our dev team gathers intelligence on known bot activities from various sources.
- Second, we identify key indicators that differentiate humans and bots
Then for the launch, we implement several strategies to prevent bots from dumping their unfair purchases onto the community, including a blanket restriction on selling that will last approximately 15 minutes while we implement the anti-bot protection system to prevent bots from selling/transferring their tokens.
Bot owners: you have been warned!
Advantages of the Ferrum Launch Protection System
There are many advantages to the Launch Protection System including:
- Increases trust in the launched token as the community doesn’t need to worry about being dumped on by bots.
- Tokens bought by bots are effectively removed from circulation, therefore permanently lowering the total supply.
- ETH is added to the liquidity, benefiting the community and project
- Increases the price floor because tokens bought by bots cannot be dumped
Implementing a Review Period
Although we are extremely confident in our ability to detect and blacklist only bots (we had a 100% success rate in our previous launch), we understand there might be some instances where it is a grey area or we accidentally blacklist a real community member.
To be clear, in the event of a questionable/grey area, we will NOT blacklist that address. We will only blacklist an address when the evidence of botting is clear and obvious.
Secondly, we will implement a review period wherein anyone who believes they were wrongfully blacklisted can contact the dev team and we will review what happened. If we made a mistake, we will un-blacklist the address.
We will be announcing the date of the Uniswap launch. Please stay tuned to our announcement channel for more information!
We want to thank the Netvrk and Ferrum Network communities for inspiring us to go above and beyond to protect this launch. This one is for you!
Very truly yours,
The Ferrum Network Team
Uniswap is a leading decentralized crypto exchange that runs on the Ethereum blockchain launched in 2018. Also described as a decentralized protocol for automated liquidity provision on Ethereum.
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About Ferrum Network
Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption with user-friendly products for swapping, staking, and transferring cryptocurrencies. Its cross-chain DAG will enable the transfer of any digital asset in milliseconds for near-zero network fees, unlocking tremendous value for the entire industry.
NetVRk is a social virtual world and platform, with powerful creation tools and infrastructure to easily make, share, experience, and monetize creations. With a focus on gaming, education and virtual workplaces, built around ownership of virtual land and assets.