Shutter DAO 0x36 Deploys Liquidity Bootstrapping Pool on Fjord Foundry

Shutter DAO 0x36 is launching a Liquidity Bootstrapping Pool (LBP) on Wednesday, February 21st, 2024 at 12:00 (noon) UTC.

A proposal to create and fund the Liquidity Bootstrapping Pool (LBP) on Fjord Foundry was approved and executed on-chain by Shutter DAO 0x36.

View the LBP

Shutter Token Liquidity Bootstrapping Pool

Shutter promotes base layer neutrality & information symmetry using threshold encryption. 2 primary applications: Rolling Shutter prevents malicious MEV & censorship on L1s & Ethereum L2s by encrypting transactions as they are created and then decrypting them after the transaction order in the block has been fixed. Shielded Voting increases the fairness and integrity of votes on Snapshot and other voting platforms by encrypting all votes as they are cast and then decrypting them when the voting period has ended. Integrations Rolling Shutter Gnosis Chain Optimism Mode L2 Rollups-As-A-Service Espresso Systems EigenLayer Shielded Voting Snapshot Fractal Kleros Revenue Opportunity (est) Rolling Shutter: $50M - $4.7B per year Shielded Voting: $2M - $10M per year Past Round In Feb 2024, Shutter DAO 0x36 sold 5,059,541.5 SHU for 202,381.66 USDC - at $0.04 per token ($40M FDV). These tokens unlock 10% on 18 March 2024 & 3.75% per month for 24 months. Links LinkTree

Parameters

The Liquidity Bootstrapping Pool will have the following parameters:

• Start Date & Time: Wednesday, February 21st 2024 - 12:00 UTC
• End Date & Time: Sunday, February 25th 2024 - 23:59 UTC
• Project Token: 40,000,000 SHU (forty million SHU)
• Collateral Token: 100,000 USDC (one hundred thousand USDC)
• Start Weights: 99% SHU / 1% USDC
• End Weights: 1% SHU / 99% USDC

The SHU token price will start at $0.247 and fall along a predetermined curve until token purchases/sales create price action. The SHU market price will be determined as community members buy and sell into the LBP.

Earlier this year, a Shutter DAO was deployed, which became known as Shutter DAO 0x36.

In the initial phase of establishing a Shutter DAO, the primary focus has been to lay the foundational structure and ensure robust governance.

The Shutter DAO 0x36 SHU token was launched in the context of the first deployed Shutter DAO, Shutter DAO 0x36, as a non-transferable token. With the LBP, a concept initially proposed by Balancer, there will be a tried and true mechanism for price discovery and kickstarting a healthy market for these SHU tokens.

LBP on Fjord Foundry

Shutter Token Liquidity Bootstrapping Pool

Shutter promotes base layer neutrality & information symmetry using threshold encryption. 2 primary applications: Rolling Shutter prevents malicious MEV & censorship on L1s & Ethereum L2s by encrypting transactions as they are created and then decrypting them after the transaction order in the block has been fixed. Shielded Voting increases the fairness and integrity of votes on Snapshot and other voting platforms by encrypting all votes as they are cast and then decrypting them when the voting period has ended. Integrations Rolling Shutter Gnosis Chain Optimism Mode L2 Rollups-As-A-Service Espresso Systems EigenLayer Shielded Voting Snapshot Fractal Kleros Revenue Opportunity (est) Rolling Shutter: $50M - $4.7B per year Shielded Voting: $2M - $10M per year Past Round In Feb 2024, Shutter DAO 0x36 sold 5,059,541.5 SHU for 202,381.66 USDC - at $0.04 per token ($40M FDV). These tokens unlock 10% on 18 March 2024 & 3.75% per month for 24 months. Links LinkTree

The Liquidity Bootstrapping Pool will run for four and a half days with a total of 40,000,000 SHU tokens for sale. During this time, tokens can be bought and sold in the LBP. But currently, only a tiny amount of SHU tokens are unlocked (100k SHU owned by the DAO 0x36 deployer) in addition to the LBP allocation.

The genesis allocations of Shutter DAO 0x36 include vesting schedules, so everyone who has claimed their SHU and, in the process, activated their vesting pool will have their tokens locked until the 18th of March. This means that tokens from the genesis allocation will not be available to be sold during the LBP.

The initial funds for the LBP have been transferred from the Shutter DAO 0x36 treasury to the LBP. The funds received from the sale of the forty million SHU token LBP allocation will go to the Shutter DAO 0x36 treasury after the LBP has concluded.