What is Fjord Foundry? Information about FJO Coin

Table of Contents

What is Fjord Foundry?

Fjord Foundry is an innovative launchpad platform designed to provide users with opportunities to participate in Initial DEX Offerings (IDOs) fairly and transparently. The platform utilizes the Liquidity Bootstrapping Pool (LBP) mechanism to allow everyone to own tokens of projects before their official launch, without the need for whitelisting or auction participation.

Fjord Foundry benefits both projects and users. Projects can use this platform to distribute their tokens to users for free. Additionally, Fjord Foundry clearly distinguishes between two types of projects: Curated LBP (projects that have been vetted) and Unvetted LBP (projects that have not been vetted), aiming to protect users when participating in IDOs on the platform.

What is the Operation Model of Fjord Foundry?

Liquidity Bootstrapping Pool (LBP)

Fjord Foundry implements the Liquidity Bootstrapping Pool (LBP) mechanism – inspired by Balancer and described as pricing from high to low similar to Dutch Auctions – to minimize the impact of sniper bots and the manipulation of large investors in purchasing IDO tokens.

Key features of LBP on Fjord Foundry:

Dynamic Pricing and Weight Shifting: Token prices start high and decrease over time, driven by changes in token weights in the pool. This helps make the auction process fairer and more transparent.
Fair Token Distribution: The pricing model from high to low and dynamic token weight adjustments discourage quick purchases or exploitation by bots and whales. Instead, it encourages the participation of individuals interested in the project, ensuring fair token distribution and reaching more investors.
Increased Liquidity and Reduced Initial Capital Requirements: The LBP model allows project owners to start with a high token/collateral ratio (e.g., 99% token/1% USDC), significantly reducing upfront capital. At the same time, it also makes it easier for investors to trade tokens in the pool.

Curated LBP and Unvetted LBP

Fjord Foundry offers a unique approach, allowing anyone to create Liquidity Bootstrapping Pools (LBPs) on the platform without interference, as long as they comply with Fjord Foundry’s conditions. The platform clearly distinguishes between two types of projects that can register here:

Curated LBP:

These are lists of projects that have not been vetted by Fjord Foundry. Fjord Foundry will not be responsible for any losses incurred when users purchase IDOs of projects in this category. By default, Curated LBPs will not be displayed. Users must actively “View All” and apply filters to view these projects.

Unvetted LBP:

These are lists of LBP projects that have been selected and managed by third parties. Fjord Foundry, along with third parties, will verify these projects before launching them on the platform. However, Fjord Foundry still advises users to research projects thoroughly before investing.

Highlights of Fjord Foundry

Liquidity Bootstrapping Pool (LBP) Mechanism:

The token sale price starts high and decreases according to the established decreasing price curve. Anyone can buy or sell LBP at any time.

Mitigation of Sniper Bots and Large Investors:

Fjord Foundry uses the LBP mechanism to minimize the impact of sniper bots and large investors such as whales or VC funds. This creates a fairer opportunity for retail investors.

Multichain Support:

Fjord Foundry allows users to purchase IDO tokens on various blockchains, such as Ethereum, BNB Chain, Base, Arbitrum, etc.

Achievements

The project has supported various blockchains, helping projects raise $933 million USD (as of April 3, 2024).
Generated revenue exceeds $25 million USD, including $18 million USD (Version 1) and $7.5 million USD (Version 2 – since December 2023).
Over 650 projects have received support. Supported volume exceeds $1.4 billion USD.
Over 88,000 unique wallets have participated (users).

Development Team

Fjord Foundry has not disclosed information about its development team.

Investors

Fjord Foundry successfully raised $4.3 million USD in its Seed Round with the participation of investment funds such as Lemniscap, Mechanism Capital, Zee Prime Capital, …

What is FJO Coin?

After learning about what Fjord Foundry is, let’s find out about the project’s token – FJO Coin.

Basic information about FJO Coin

Token name: Fjord Foundry
Token: FJO
Blockchain: Updating…
Token standard: Updating…
Contract: Updating…
Token utility: Utility
Total supply: 100,000,000 FJO
Circulating supply: Updating…

FJO Coin Allocation

Seed Round: 22.25%
Fjord LBP: 22.25%
Concave Community: 20%
Treasury Shelf: 16%
Ecosystem Development: 9%
Former Contributors: 5%
Airdrop: 4%
Balancer DAO: 1.5%

FJO Coin Utility

FJO is the native token of the project and is used in the following cases:

Users can stake FJO tokens to receive rewards.
Holders of FJO tokens will receive a share of platform revenue.
Used as rewards in airdrop programs for users.

Roadmap

4/2024:

Support for protocols on Solana. LBP without collateral assets. Integration of $FJO token with LayerZero’s 0FT. Cross-chain swap.

5/2024:

Custom token withdrawal: Integration of custom tokens into LBP, allowing integration of tokens other than conventional collateral tokens like USDC and ETH.
Soft and hard caps: Setting clear sponsorship targets with minimum and maximum thresholds.

6/2024:

Staking FJO tokens with revenue and airdrop tokens from potential projects.

7/2024:

Fixed-price sales: Simplify participation with the option to sell tokens at a fixed price, providing a straightforward pricing for potential supporters.
Tranched LBPs.
Minimum raise thresholds.
Anti-snipe LBPs.
Automatic LP deployment after sales.

Project Information

Conclusion

Through the article “What is Fjord Foundry? Let’s learn about FJO Coin,” we have introduced you to the concept of the Fjord Foundry project. If you still have questions, please leave a comment below for clarification!