Meteora's Alpha Vault Goes Live to Combat Bots in UpRock $UPT Launch
Meteora's New Vault Aims to Block Bots from $UPT Launch with $5 Million Cap, Equal Token Distribution, and Vesting Over 5 Days
- Author: Sheldon Cooper
- Published: May 30, 2024 at 21:53
- Updated: May 29, 2024 at 20:20
Decentralized finance (DeFi) platform Meteora has launched Alpha Vault, a new tool designed to address the issue of bot manipulation in token launches. The tool is currently being tested live in the UpRock $UPT token launch today, with deposits open until 4 PM UTC on 30th May. The vault has a total cap of $5 million.
Read More Here: UpRock's $UPT Token Launches May 30th: Airdrop Checker Goes Live Today
Alpha Vault aims to provide a more equitable token distribution by allowing users to deposit funds into a vault before the launch. The vault then uses these funds to purchase tokens at the earliest opportunity, ensuring all participants have an equal chance to acquire tokens at the initial price.
Meteora Vault
Tokens purchased through the Alpha Vault for the UpRock $UPT launch will begin vesting in approximately 1.71 days and will continue vesting over a period of approximately 5.71 days. In other words, users will receive their $UPT tokens in full after roughly 7.42 days.
Following the lock-up period, all participants who deposited into the vault will receive an equal amount of $UPT tokens, promoting fairness and discouraging bot activity.
Meteora suggests that Alpha Vault could be a significant step towards fairer token launches, particularly for those using decentralized launch mechanisms like DLMM bootstrapping pools.
Meteora acknowledges that Alpha Vault is in beta and encourages users to conduct their own research before participating.