Details of the initial offering of BIOP tokens via bonding curve.
The Tiered Initial Bonding Curve Offering, for short TIBCO, is the initial distribution method of the BIOP token. Its main purpose is to raise funds to pay for initial deployment and to provide a bootstrap to the protocol liquidity.
The TIBCO is comprised of 6 different price tiers that the coins can be traded at.
Every tier will last until the number of tokens sold exceeds it or the IBCO event ends. Each tier price will be higher than the previous one.
The event will last for a total of 3 days(72 hours) from the time the contract is activated.
Use of raised funds
The first 50 Ethereum raised will go to the treasury to be used for:
Smart contract deployment
Of the remaining Ethereum:
50% (up to a maximum of 75 ETH) will be added to a Uniswap Liquidity pool
The rest will be added to BIOPset Option liquidity Pool and the bETH tokens locked