Lend Flare
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IDO
The main role of IDO was to determine the initial price of LFT and provide liquidity in Uniswap. There was no fix initial list price and all are depends on investors.
Lend Flare IDO was fair and open for every individual and organizations. The entire process is written in Lend Flare smart contracts.
IDO Proceedings
Lend Flare opens IDO one or two weeks after start borrowing. Investors must use Ethereum to purchase LFT. The amount of LFTs released is 15% of the total amount of LFTs, i.e., about 450 million. 90% of the total Ethereum and LFT will be added to the permanent liquidity in Uniswap. The LFTs for IDO are released instantly. The remaining 10% of ETH is used for team startups, advertising, etc. 10% of LFTs will be send to blackhole.
The addition of liquidity is automatically executed by the smart contract. After the liquidity is added, the LP is destroyed as permanent liquidity by LFT.
LFT initial price calculation
Initial LFT price = (Total Ethereum raised during IDO)/(Total LFT *15%)
Initial IDO price
0.0090$ per LFT
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