A Step-by-Step Guide for Participating in the Radicle LBP
On February 25th, 2021 at ~16:30 UTC until February 27th, 2021 ~16:30pm UTC, ~3.75M RAD tokens will be available on a Balancer Liquidity Bootstrapping Pool (LBP).
This supply will be available on a RAD/USDC Balancer Liquidity Bootstrapping Pool. All proceeds will go to the Radicle Treasury, a smart contract entirely controlled by Radicle token holders.
You can track the LBP event and see the official details on lbp.radicle.network.
If you are not familiar with how LBPs work, please check out the Radicle LBP FAQ.
This article outlines a step-by-step guide for participating in the Radicle LBP event.
How to participate in the Radicle LBP
To get some RAD tokens during the Radicle LBP event, you need to follow these three steps:
- Step 1: Navigate to the Balancer LBP
- Step 2: Connect a wallet supported on Balancer
- Step 3: Swap USDC (or your preferred token) for RAD
Step 1: Navigate to the LBP via lbp.radicle.network
You can find all official information on the Radicle LBP event on lbp.radicle.network. Here, you will see a live price chart of the event and more information on the LBP event.
To swap USDC for RAD, navigate to balancer.exchange/swap
Once you arrive on the Balancer, you should see a page similar to the one below.
Step 2: Connect a wallet
Currently, Balancer supports the following five wallets:
We recommend using MetaMask as it’s the most used Web3 wallet. You can download the MetaMask extension directly in browsers such as Google Chrome, Firefox. For simplicity, this guide will use MetaMask as an example. Other wallets should follow similar steps.
Once you setup MetaMask, make sure that:
- You have some ETH in your wallet to pay gas fees
- Prepare USDC to exchange for RAD tokens.
You can prepare USDC by swapping other tokens for it via, for example, Uniswap.
While other tokens can also be used to participate in the Radicle LBP event, we recommend using USDC because it will be cheaper. See the LBP FAQ for more details.
Step 3: Swap USDC for RAD
If this is the first time using Balancer, you need to first approve Balancer to enable interactions with the Balancer smart contracts. To do so, click the “Unlock” button to submit the transaction to your wallet and wait for it to confirm. You’ll need to sign the transaction in your wallet.
🚨Please remember to prepare a small amount of ETH in your wallet as the gas fee. You’ll need this to confirm the transaction.
Once you successfully unlock your wallet, the button will then change to “Swap”. Input the amount of USDC you’d like to swap, then proceed to click the “Swap” button to trade these tokens for RAD.
🚨The Balancer LBP is not like a regular Balancer pool. The price will start high to disincentivize bots, front-running and speculation. Over time, the price will automatically decrease by design, so make sure to not swap RAD too early🚨
Once you’ve submitted your transaction, track its transaction status in MetaMask or Etherscan. Once it changes from “PENDING” to “SUCCESS”, you should have successfully received RAD tokens to your wallet.
To view your RAD tokens, you need to add it as a custom token to your wallet. To do this, find the
Add Custom Token option in your chosen wallet, and input the following information:
Token Contract Address : 0x31c8eacbffdd875c74b94b077895bd78cf1e64a3
Token Symbol: RAD
Decimals of Precision: 18
For MetaMask users, here is a quick tutorial video.
If you have any questions on how to participate, you can join the #token on the Radicle Matrix channel to chat with our team.
🌱 RAD Token Address: 0x31c8eacbffdd875c74b94b077895bd78cf1e64a3
🌻 RAD LBP Address: 0x824603F89e27aF953cAB03a82017e4a74dd4Df73
⚠️ At this point in time, there is only an LBP on Balancer — no other pools have been created by us