We've collated three, easy to understand tips for those who choose to participate in an LBP.
Tip #1 - Circulating tokens
❌ Never buy into an auction without knowing if there are tokens already circulating. Tokens can be sold and bought during auctions. Keep this in mind.
✔️ Always check the total number of tokens in the circulating supply and the total number of tokens being auctioned off. Knowing this will help you understand the potential impact of tokens being sold into an auction.
Tip #2 - Token Research
❌ We never recommend blindly buying into a project without first understanding its fundamentals. A project listing on Fjord Foundry does NOT represent an endorsement.
✔️ Always DYOR and learn as much as possible about the project’s fundamentals. Fjord is a front end and acts like a window into the blockchain. As previously stated, Fjord does NOT endorse individual projects listed on the Fjord platform.
Tip #3 - Stay Patient
❌ Buying at the start of an LBP can be risky since the price is designed to start at an inflated value. Of course, you can choose to do so, but you may be overpaying.
✔️ We always recommend staying patient and waiting for the price to hit a point you are comfortable buying at.