HBB Triple IDO Launch Report
Hubble's IDOs were a massive success, with over $1.2 million HBB distributed across our three partnering platforms: SolRazr, Solanium, and DAO Maker. Here's our full report.
Hubble Protocol recently completed three launches of its native token, HBB, on three different platforms. The triple launch of HBB preceded the launch of Hubble Protocol on the Solana Mainnet by several days,
Overall, the three launchpads successfully distributed HBB to a wide and numerous range of users who, on average, acquired tokens at smaller allocation sizes.
Users Met Requirements for Participation
Users could only participate in the IDOs (Initial DEX Offerings) and SHOs (DAO Maker’s Strong Holder Offerings) after meeting each platform’s criteria for whitelisting and then passing KYC. Each platform launched HBB through “public” and “community” pools with separate requirements for accessing each.
All three protocols granted users access to higher allocations in their community pools by staking each launchpad’s native tokens (SOLR and SLIM) on their platforms. Increasing the amount of tokens staked and time they are locked opened up higher allocations.
To gain access to the SolRazr and Solanium public pools, users had to perform social media tasks. For SolRazr’s public pool, users had to hold at least five SOLR tokens in their wallet throughout the launch process.
As for DAO Maker, users could participate in the public pool by having at least $2,500 worth of tokens in their wallet. DAO Maker also gave preference in their lottery to users who held specific tokens that reflected an interest in similar projects like Hubble.
How Allocations Were Distributed Among Users
The Solanium IDO drew 2,240 participants. By the end of the Solanium IDO, the most common allocation size was 329.3 HBB, while the most common allocation for the SolRazr and DAO Maker community pools was 100 HBB.
On DAO Maker, 2,290 users participated in the community pool, and another 3,000 users whitelisted for DAO Maker’s public pool with 1,500 users accessing allocations of 500 HBB each. A total of 1,060 users participated in SolRazr’s community pool, and 2,500 joined the SolRazr public pool for allocations of 100 HBB each.
The average allocation for community users on each platform, in descending order, tallies to 1,415 HBB for SolRazr’s community pool, 328 HBB for DAO Maker’s community pool, and 281 HBB for Solanium overall.
Including all launchpads and pools, over 10,000 users participated in HBB's triple launch. The vast majority of these users acquired between 100-500 HBB.
The highest recorded allocations for each launchpad were acquired by a minority of users. SolRazr reported the highest allocation at 25,000 HBB for two users and 15,000 HBB for 11 users, accounting for the 99th percentile of its distribution (less than 1% of all allocations).
DAO Maker’s highest allocations, which went to two users, were 2,600 and 2,500 HBB. Solanium’s highest allocations witnessed 142 users acquiring 1993 HBB tokens.
How Many Tokens Entered Circulation After IDOs
Participants received 33% of their allocation at TGE (Token Generation Event). The rest of these allocations will be vested over a two month period with additional tokens received on a daily basis.
Users from DAO Maker and Solanium were airdropped their tokens, and users from SolRazr claimed them from the platform. At TGE, DAO Maker distributed 494,999 HBB, SolRazr distributed 483,332 HBB, and Solanium distributed 278,794 HBB for a total of 1,257,125 HBB in the wallets of users after the IDOs and SHOs.
To provide liquidity for CEXs (centralized exchanges), KuCoin was allocated 1,000,000 HBB and Huobi received 750,000 HBB. The DEX (decentralized exchange) Orca received 22,453 HBB paired with 50,000 USDC as well as 60,000 HBB for rewards.
Including all tokens distributed through launchpads after TGE, to exchanges, and for marketing purposes and fee payments, a total of less than 3.5 million HBB tokens could be accounted for at time of Mainnet launch with close to two million of those tokens residing on a CEX or DEX.
At the time of writing (one week post-launch), nearly 700,000 HBB have been staked on Hubble Protocol to earn rewards. Users can earn HBB by depositing USDH in Hubble's Stability Pool, which facilitates liquidations on the platform.
Users can also earn HBB rewards by providing liquidity for USDH pairs on Saber and Mercurial.