Introducing BlockPad — A Multichain IDO Launchpad Governed by YOU!
A rug-proof IDO launchpad built to help projects crowdsource funds by adopting ground-breaking methods for token pools and distribution
The Growth of Binance Smart Chain
The tsunami of DeFi took the crypto world to a trillion-dollar market cap. Lending, borrowing and, liquidity farming have become the most favorite activities whilst the rest of the world is still sleeping under the fear of COVID. The total value locked (TVL) has surpassed $40B making the introduction to the DeFi obsolete.
And, this trend doesn’t seem to stop anywhere soon.
From the beginning of 2021, we have witnessed tremendous exponential growth in Binance Smart Chain because of being extremely cheap while verifying transactions faster than Ethereum. That having said, monthly transaction volume on BSC has increased from around 349,000 to a whopping 8 million per day.
This enormous growth has attracted numerous ideas on BSC. But let’s not forget the challenge of keeping digital assets — tokens and BNBs, is immensely important while sitting on a ride of DeFi’s bullet train. Let’s have a look at the risks associated with new BSC-based projects currently.
Current Problems:
1. Frequent Rug-pulls
Rug pulls — one of the biggest risks that we are facing in the BSC ecosystem is not unknown anymore. The recurring number of rugs has surpassed $5 billion in total. Tokensniffer has reported around 15 such suspicious projects in a single day.
2. Insufficient Liquidity
New projects are being created lacking sufficient liquidity commitment. This indirectly is a definition of scam. Nevertheless, we have also seen projects providing average liquidity on listing and wiping them out on the next day.
3. Unfair IDO Participation
Well, providing allocation to everyone on each project is indeed difficult. This happens because a smaller total allocation is supposed to be gathered from a large pool of investors. As a result, small investors are being left behind almost all the time.
4. Centralized Governance
A small project without involvement of VCs is not likely to be picked by current launchpads. The bureaucratic selection process leads to skipping many innovative ideas. If an idea is supposed to be funded by people, why not let people select the idea themselves?
That’s where we thought of creating something valuable while accommodating these existing problems. And then the BlockPad is born!
BlockPad Introduction
BlockPad revolutionizes the way gas-war-encourager ICOs used to raise funds by incorporating a community-governed IDO launchpad in a secured manner. BlockPad offers a safe and somewhat decentralized ecosystem to both investors and project owners to grow together in this disruptive crypto space by acting as a bridge connecting cogent and quality blockchain projects with investors.
Have a look at the solutions we have to above-mentioned solutions:
1. Rug-proof Launchpad
Projects with higher hard caps without any kind of MVPs are prone to rugs. Therefore, we carefully check total raisable amounts with its token economics and then present them to the community. All of those scams will be filtered this way providing a safe ecosystem.
2. Liquidity Lock
Insufficient and unlocked liquidity is the biggest threat to the fastest-growing DeFi ecosystem. That’s where we have worked and integrated automatic liquidity lock through our native smart contract for the projects which choose BlockPad as their launchpad.
3. Fair Allocation
Getting a guaranteed allocation in DeFi projects is kind of rare and you will agree with the fact. Even after holding a certain amount of tokens, token holders are put on FCFS tradition. Well, we break that right away by providing guaranteed allocation to the community.
4. Community Governance
Community is and will be the backbone of BlockPad launchpad. That being said, the community (YOU) will vote on upcoming projects on our launchpad after their own diligence. Upon getting enough approval votes by voters, projects will be moved towards the investment pool.
5. Multi-chain Integration
Having prime focus on Binance Smart Chain — BSC, we will march the development integrating widely popular chains that includes but not limited to Ethereum, Cardano, Moonbeam, Tomochain, Polkadot, Definity and, more. Hence, the future is covered.
Why did we choose BSC initially?
The exponential growth behind the BSC ecosystem is not hidden. Apart from the lowest transaction fees and fastest transactions verification, here are reasons why we went with BSC initially.
- Regardless of being mere 8 months old, BSC is handling more than 5x on-chain traffic than 69 months old Ethereum network.
- As aforementioned, faster and cheaper transaction fees is an obvious determination factor. BSC transactions are more than 100x cheaper than transactions done on Ethereum.
- Binance Smart Chain is powered by Proof of Staked Authority (PoSA) consensus with a 3s of block time making robust secure and robust. That is the secret sauce for the faster transactions.
- The EVM compatibility of BSC makes migration of Ethereum based dApps easier and smoother.
- The availability of intuitive chain explorer, Metamask compatibility for ease of participation in token sales and sustainable volume generating DEXs.
That’s for all today. But hey, this is not the end.
BlockPad is coming soon — Stay tuned!
Website: https://theblockpad.com/
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