TokenSight Token Launch Recap
Learn why our launch was a massive success
The recent launch of our TKST token marked a significant step towards bringing our vision of TokenSight to the market. In this article, we will cover the details that contributed to its success.
TKST was launched with two primary objectives:
- To establish an incentive mechanism for the community, with token holders eligible for 75% of the platform revenue fees and 40% of the token trading fees (2% of the 5% token tax is allocated for token holders).
- To secure a solid runway for ensuring the success of the TokenSight platform.
More information about the tokenomics can be found in our Medium article:
The launch
We wanted the launch to be fair for everyone. The token contract address was thus not leaked, and not previously available to anyone. Instead, it was shared with all parts and channels simultaneously, at launch. Furthermore, the team did not bot its own launch, which is a common practice in crypto.
TokenSight Token (TKST) was launched on the 28th of October 2023, after meticulous planning to ensure fair access and minimize bot activity. This preparation proved worthwhile, leading to a very successful launch by any measure:
Anti-botting measures
The single most important measure was the size of the LP. TokenSight’s initial liquidity was $500,000 — which is considered to be quite substantial.
Having a small LP is usually favoured by projects as:
- it’s cheaper,
- it results in much larger price appreciation, which is good for marketing and botters, and
- it makes it easier for the team to buy up a large percentage of the supply for little (as teams botting own launches get to be first).
Additionally, we took a few different measures to disincentivize the usage of bots, such as:
- maximum transaction amount for the first 1 hour
- maximum wallet amount for the first 1 hour
- presence of blacklist function
- token tax fee of 40% for the first 5 minutes
The measures were successful, and the launch was minimally botted.
Minimizing botting activity is crucial for the success of a DEX launch, as bots tend to come in fast and early, scoop up a large percentage of the supply at very low prices, for then dumping on average buyers who are slower to execute and thus come in at much higher prices.
It is commonplace in crypto for botters/snipers to literally ruin a token launch by making price collapse in the hours or days after a launch, basically eating everyone’s lunch.
There were 0 buys in the first block, which is very important anti-sniping metric! In the second block, there were just two buy transactions, and in the following blocks, there were a few additional buy transactions, all of which involved small amounts. By any standard, this is very organic — exactly what we were aiming for.
Token Launch Execution
The token was deployed at block 18449683. In the same block, the unlocked tokens were distributed to seed investors (thus, seed investors didn’t know about the token address until their tokens were sent to them).
This was done through a bundle, which is a group of transactions executed in a sequential and atomic way, which are also executed privately (not available in the mempool).
The bundle was initiated by a new address with no prior transactions, an address that was not disclosed to anyone. This approach ensured that the token address remained private, preventing any potential tracking via the nonce of the deployer address.
Liquidity was added by a different address (contract owner) a few blocks later, conducted through a private transaction not visible in the mempool.
Approximately 9 minutes post-launch, the buy and sell fees were reduced to 5% (the goal was 5 minutes, but due to private transaction not having guaranteed inclusion, it took a few minutes more than expected).
After about an hour, the imposed limits on the maximum transaction amount and the maximum wallet amount were removed.
The results
The meticulous execution of the launch yielded positive outcomes:
- Absence of insider trading
- No large acquisitions of the supply by bots
- The Contract Address (CA) was not revealed prematurely, ensuring a careful and coordinated launch
- The initial price remained stable (no huge green candles at start).
As of now, the TKST token has established a strong footing with:
- 2472 holders,
- $2.54M in liquidity,
- A market capitalization of $6.73M.
Reflecting on the successful launch of the $TKST token, we could not be more excited about the TokenSight journey ahead.
Our platform is on track for its unveiling by the end of November, promising a robust decentralized exchange trading dashboard for our community and giving purpose for long term holding of TKST.
Additionally, we have released another article explaining the revenue share mechanism, providing a deeper insight into the financial model of TokenSight.
We thank our community, investors, and enthusiasts for their unwavering support and look forward to achieving more milestones together.
