Grant Request by Copper

Submission Date

October 15, 2021

Project Links, Copper – Medium,

Project Description

Copper is a platform for open, transparent, and user-friendly token Fair Launch Auctions powered by Balancer’s Liquidity Bootstrapping Pools.

Fair Launch Auctions (FLAs) are a specific configuration of Balancer’s Liquidity Bootstrapping Pools (LBPs). Their primary use cases are to:

  1. Launch and/or distribute ERC-20 tokens
  2. Drop collections of ERC-721 NFTs represented by ERC-20 tokens

Key Features

Price discovery. The price of the token starts high and drops based on a pre-configured price decay curve that can be resisted by buying pressure from auction participants. Anyone can buy into or sell out of the auction freely at any time, so price truly regulates itself.

Open and permissionless participation. Freely launch tokens and participate in auctions. No whitelists, hard caps, or listing requirements. There is no minimum or maximum allocation. Auction participants choose how much they want to buy.

Fair distribution. FLAs flip the first-come-first-serve launch model on its head and change token launches from being a race where the first bot in or the transaction with the highest gas fee wins. Get your token into the hands of as many people as possible in a fair way that disincentivizes front-runners and whales getting better rates than smaller participants.

Capital efficiency. The initial price of the token being auctioned can be magnified by up to 99 times relative to the collateral deposited along with it. Additionally, the collateral can be fully retrieved at the end of the auction unless the auctioned tokens already exist outside of the FLA and someone decides to sell into the auction.

Amount requested

100000 USD


  1. Polygon fair launches on Copper MVP
    The Copper team will implement support for the creation and participation in Balancer LBPs on Polygon through our UI. This means a redesign of our some of our architecture, UI, documentation, as well as additional supporting resources.

Budget: 30K USD

  1. Polygon fair launches on Copper fine tuned
    Clean up UI to make Polygon launches accessible alongside Ethereum mainnet launches. Some rearchitecture of the app and redesigns will be necessary.

Budget: 10K USD

  1. New fair launch discovery mechanism

Supporting Polygon means cheap/affordable LBP creation, which will result in a significant increase of new LBPs on Copper, but given Copper’s permissionless nature that also equates to a large influx of low quality and scam LBPs. Opensea has a similar problem for NFTs that was exacerbated by the addition of Polygon. High fees on mainnet act as a significant barrier for spam and Polygon support will remove this barrier. To deal with this problem we will need to completely rework our current LBP discovery mechanism and enable a curated approach.

Budget: 40K USD

  1. Copper contributes to a 10 million increase in TVL on Polygon
    Totality of projects that have launched on Copper through LBPs on Polygon add up to a TVL of 10 million USD in terms of live auctions and/or auctions that have transitioned their liquidity post launch to an AMM on the Polygon mainnet. For this we will need to increase resources needed to support teams looking to launch on Polygon as well as generate addition marketing content.

Budget: 20K USD

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Grant Request Status


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