# Reserve Boding Curve

*A permanent market for BIOP/ETH exchange*

The LSBC is a automated market maker(AMM) designed to faciliate an exchange for late users to the BIOPset protocol who are interested in particpating in governance. This system will not be introduced until after Uniswap rewards( DEX rewards ) have expired (around 7 months after the launch of the protocol). With the LSBC it doesnt matter if there are no Uniswap LPs offering a BIOP exchange pair the LSBC is a permanant market.

19.4% of the total supply of BIOP will be held by the LSBC. Up until that contract is deployed those funds will be locked and untouchable. Seven months after launch when the DEX rewards are complete then the funds will be transfered in and the LSBC will open.

Once operational anyone will be able to puchase BIOP from the curve by sending ETH, after each purchase the price will increase. While there is any ETH in the LSBC (from previous BIOP sales) anyone will be purchase ETH with BIOP from the curve.

The curve is based on the Bancor bonding curve foundation. This means the price of BIOP per ETH increases with each sale and decreases with each buy back.

The buy and sell functions of the LSBC have optional fees. These fees are both set to zero (0%) by default. The Settlement DAO has the ability to change those fees using two tiered actions. fees generated through this mechanism are passed into the the Settlement DAO treasury for the use by DAO stakers.

Critical to the automonous and censorship resistant nature of the BIOPset protocol the LSBC allows anyone who may not discover BIOP until later on the change to fully participate in all Settlement DAO activities, even once Utilization Rewards are complete. First and foremost the mission of the LSBC is provide a permanent venue for all to access BIOP at market controlled prices.
