Fair Launch Protocol Guide for NFT projects and their communities

Lottery Phase 1 — Buying a ticket

FLP launch day has arrived! But you’re at work. NBD. You have a full day to participate.*

Lottery Phase 2: Price setting and participation decision

Upon the conclusion of the ticket buying phase, a price is determined as the median of all tickets purchased. You now have to decide whether you want to accept that price. If the price determined is higher than what you submitted, you’ll pay the difference in order to participate. You can also choose not to move forward and get a refund, less the fee mentioned above.

Lottery Phase 3: Token distribution

If demand exceeds the number of NFTs offered, then distribution will be managed by lottery. FLP handles this process as part of the system, and makes every effort at making this process auditable. However, for full disclosure, the actual randomization process takes place off-chain, as Solana does not currently have the ability to generate random numbers on-chain.

Waiting Period

Projects can use FLP to launch NFTs that are ready right now and take advantage of the community pricing feature.

Delivery Date

When a project is launching immediately without a future Delivery Date
Immediately after the lottery completes, tokens will be distributed to all winners, and they can redeem those tokens at a Candy Machine.

FLP Benefits for Project Founders, Developers and Artists

Fundraising

There is SO MUCH pressure for projects to rush right now. There are an amazing number of cash grabs competing for eyeballs and mindspace right now, which tempts the highest quality projects into moving quickly. But in business, you only have three optimizers: low cost, fast, and high quality… and you only get to pick two. You know which one gets sacrificed. Quality.

Community mindfulness

There’s a lot of blowback these days on pricing. People feel taken advantage of when project sets their price at 5 SOL knowing they could sell out on FOMO alone. They’ve started to vote with their Solana Wallets by not participating in projects that don’t consider pricing carefully.

FLP Benefits for Community and Investors

Getting in early

When a project is doing something great, it can take time and money. By the time they’ve completed their work and they’re ready to launch, excitement may be at fever pitch.

Opportunity to influence price

With FLP, you’ll get to have an influence on the mint price. And if you don’t like where the price lands, you aren’t locked in.

Layers of protection

In a space that increasingly has to deal with scams, FLP offers a safer alternative to getting into a project, where the team is incentivized to deliver, and is unable to run away with all your money in a scam.

FAQs

As we have a preference for real Frequently Asked Questions, we’ll monitor social media and update this section regularly.

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