Price Discovery Event

by | Aug 3, 2023 | Uncategorized | 0 comments

$GRAB Token Price Discovery Overview

The Price Discovery Event facilitates fair distribution of the $GRAB token. In the Discovery Phase, participants commit ADA. At the end of the Discovery Phase, participants receive $GRAB proportional to how much ADA they committed relative to the total amount of committed ADA.

Why use Price Discovery Event

Token launches often face criticism for unfair distribution methods. Traditional approaches, such as releasing tokens through liquidity pools on decentralized exchanges (DEX), have been susceptible to exploitation by bots, giving them an unfair advantage over regular users. Similarly, automated tools can gain an upper hand in acquiring tokens released via direct sale at fixed prices.

To address this issue, Grabbit offers a solution through Discovery — a fair and transparent mechanism for launching tokens. The discovery phase ensures that participants have a genuine opportunity to acquire tokens based on their commitments. This approach helps deter early front-running by bots and unfair advantages, enabling a more equitable distribution of tokens.

How does it work?

With Discovery, the process is straightforward.

Our team will determine the participation deadline. This sets the deadline after which users will no longer be able to enter the event.

The price discovery event is initiated by locking the tokens into the Discovery Token Holder Smart Contract. Once the event starts, members of the community can commit ADA into the commitment smart contract until the participation deadline.

Users have the option to withdraw their ADA commitment at no cost until 24 hours before the deadline. Withdrawing less than 24 hours before the deadline will incur a 25% fee; this is to deter price manipulation.

After the participation deadline, everyone who committed ADA into the discovery event will be eligible to claim $GRAB in proportion to the amount of ADA they committed relative to the total ADA commitment of all users.

Where can I buy and sell GRAB?
After the GRAB tokens from the Price Discovery Event are distributed, you will be able to trade them on any Cardano DEX.

How do you participate

To participate in the price discovery event, you will need to do the following:

Install Nami Wallet: You can find the Nami wallet extension on the Chrome Web Store at this link: Nami Wallet — Chrome Web Store. Simply click the link, and it will take you to the Nami wallet page. Click on “Add to Chrome” to install the wallet.Create an Account on Exchange: Next, you’ll need to create an account on a cryptocurrency exchange like Binance. Once your account is set up, you can purchase ADA on the exchange.Transfer ADA to Nami Wallet: After buying ADA, you’ll need to transfer the ADA from your exchange account to your Nami wallet address. This wallet address is essential because it will be used to receive the newly issued tokens after the price discovery event.Visit the Price Discovery Event Website: Once it’s live, visit the website and make sure to be there before the event’s start time.

When does the event occur?

Follow Grabbit’s official Twitter account for updates and announcements regarding the specific date and time of the price discovery event.

Where can I learn more about GRAB token?
To learn more about the GRAB token, read our tokenomics article here. It has details about the GRAB tokenomics and how we plan to integrate the token to provide utility within the Grabbit platform.

Remember to stay informed and keep an eye out for our official announcements on the event’s date, time, and website URL. Participating in a price discovery event can be an exciting opportunity to support the project and acquire new tokens.

Price Discovery Event was originally published in Ikigai Technologies on Medium, where people are continuing the conversation by highlighting and responding to this story.