Port3 Network Launches $PORT3 on Bounce Launchpad
Bounce Brand is thrilled to partner with Port3 Network, the first Web3 social data layer & NLP onchain workflow executor, to launch their native governance token $PORT3 on the Bounce Launchpad. This launch, empowered by Bounce’s unique Hotpot Staking Auction mechanism, is scheduled to go live on Bounce Launchpad from January 7th, 2PM UTC to Jan 8, 8AM UTC. Join us to explore the nuances of Port3 Network and their $PORT3 Token Launch on Bounce.
What is Port3 Network?
Port3 Network, a dynamic bridge between Web2 and Web3, is led by Jump Crypto and Kucoin Ventures, with significant backing from a host of top-tier institutions like EMURGO, Momentum6, SNZ, Adaverse, and Gate Labs. This innovative platform is crafting a protocol to amalgamate and standardize off-chain and on-chain data, aiming to create a powerful and universally accessible Social Data Layer for broad application across various DApps. The founding team boasts a diverse and global background, hailing from cities such as Bangkok, Zurich, Paris, Moscow, South Africa, and Bucharest, with professional experiences at esteemed companies like Apple, UBS, JP Morgan, and Tencent.
Port3 Network currently supports 19 Layer 1 blockchains and almost all Ethereum Virtual Machines (EVMs), proudly serving over 1.7 million users. It has established partnerships with more than 4,200 entities, including BNB Chain and Trader Joe. The network has been incubated by Binance Labs and BNB Chain and has organized the inaugural Zero 2 Hero Hackathon in collaboration with BNB Chain, also receiving grants and support from BNB Chain, MASK, Aptos, and other institutions.
Among its accomplishments, Port3 Network has developed SoQuest, a task platform with a daily active user base exceeding 30,000. SoQuest encourages users to share their profiles from various Web2 and Web3 platforms, offering rewards and exclusive benefits like higher selection rates in public sales, airdrop rewards from premium projects, and priority access to co-branded NFT purchases.
Another flagship product, BQL, stands as a cutting-edge Natural Language Processed On-Chain Workflow Executor. It introduces intent-centric protocols and infrastructure, simplifying on-chain interactions through one-click processes and natural language instructions that are transformed into standard on-chain workflow paradigms executable by EVM-compatible contracts. BQL has already seen a trading volume exceeding 120 million, with plans to expand support for additional alternative chains in the future.
$PORT3 Token Launch Details:
•Launchpad Page: https://app.bounce.finance/launchpad/port3
•Staking Period: Jan 7, 2PM UTC ~ Jan 8, 8AM UTC
•Token Release Time: Jan 8, 8AM UTC
•Total Raise: $100K
•Blockchain: Ethereum
•Token Supply: 2M $PORT3
Simultaneously, $PORT3 is scheduled to be listed on Bybit, KuCoin, Gate.io, and CoinEx at 8 AM UTC on January 8.
Hotpot Staking Rules:
For the $PORT3 Token Launch on Bounce, we’re introducing the innovative Hotpot Staking Auction, offering participants the opportunity to earn $PORT3 by staking selected tokens, options including $AUCTION, $MUBI, $BSSB, $DAII, $BDID or $AMMX on Bounce Launchpad. Once a participant stakes one type of supported token, they are required to use the same token type for any subsequent increases to their stake. The allocation of $PORT3 for each participant correlates with both their staked amount and staked time.
To understand this new rule, let’s delve into the underlying formula:
1. Total Raise (a): The total amount of tokens the project aims to raise.
2. Start Time (ts): The commencement time of the staking period.
3. End Time (te): The conclusion time of the staking period.
4. User’s Staking Time (t0): The specific time when a user stakes their tokens.
5. User’s Staked Amount (a0): The amount of tokens a user stakes.
6. User’s Weight (w): Calculated as w = (te — t0) *a0, a metric combining staking duration and amount.
7. Effective Total Staked Amount (a1): Determined by a1 = sum(w) / (te — ts) , representing the weighted sum of all stakes over the staking period.
Based on these elements, token allocation is managed in two scenarios:
1. If a1 >= a: User allocation = w * a / sum(w). This scenario favors those who stake early, as their duration of staking contributes significantly to their weight, thereby balancing against the total pool weight.
2. If a1 < a: User allocation = a0 * a / sum(a0), making it directly proportional to the amount staked, irrespective of the staking duration.
To illustrate these scenarios, consider the following examples:
- Scenario with a1 >= a: Suppose a project needs to raise 100 Tokens. User A stakes 100 Tokens right at the start, and User B stakes 10,000 Tokens just before the end. According to the formula, both users receive an allocation of 50 Tokens each. This highlights how the time factor creates a level playing field, rewarding early stakers.
- Scenario with a1 < a: In a situation where the project aims to raise 1000 Tokens, and User A stakes 100 Tokens at the beginning while User B stakes 10,000 Tokens just before the closing, the allocations reflect their staked amounts. User A receives 9.9 Tokens, and User B gets 990.1 Tokens.
$PORT3 Tokenomics
About Bounce Brand
Bounce Brand is a prominent decentralized platform dedicated to delivering: Bounce Bit, an advanced BTC Appchain; Bounce Auction, onchain decentralized auctions; Bounce Box, an all-in-one DeFi space empowering customizable DeFi innovations — all tailored for the Bitcoin ecosystem. Committed to harnessing and expanding Bitcoin’s potential through DeFi solutions, Bounce Brand strives to empower transformative growth within the blockchain landscape.
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