Launching BlockPad Vault’s MVP on Three Leading Blockchains

The BlockPad team is excited to launch one of the core products BlockPad Vault, created for both — individuals and project owners. Releasing an almost fully-fledged product before the token sale stages is a clear representation of BlockPad’s commitment to private investors and the community.

IDOs have significantly changed the ways gas-war-encourager ICOs used to raise funds indeed but we are still struggling to fight scams and rugs. Let’s try to explore how rugs can be identified with the help of token economics.

1. A project has tokenomics where team tokens are not locked or linearly vested directly from the month of public listing.
2. A team is raising a considerable amount of money for the product they want to develop yet providing a poor amount of liquidity.
3. A project has incorporated vesting schedules but they have no plans for locking their tokens or utilizing in-house lockers.

The first case contains a high chance of rugs as such projects can easily sell off their team tokens once listed on decentralized exchanges. The poor liquidity has been a great cause of scams as it clearly depicts that the team is just here to raise money and abandon the product they marketed. Tokens locked natively are always suspicious as the community doesn’t have visibility. In such cases, project owners can liquidate their LP tokens, even after announcing a liquidity lock.

But being a launchpad, if we are given an opportunity, why wouldn’t we overcome those possible issues natively to make the blockchain ecosystem safe and accessible? That’s where BlockPad Vault comes into the picture.

What is the BlockPad Vault?

BlockPad Vault is an escrow platform for creating highly customizable vesting schedules while being capable of locking liquidity tokens. It currently serves various tokenomics, founders and advisors, token holders, and liquidity provisions on testnet (as of now!).

Key Features:

1. Intuitive User Interface

Our prime focus was building something that actually user-friendly so that an end-user can utilize BlockPad Vault without having prior knowledge. Prompt error instructions are made in such a way to guide users if stuck at something. Besides, the stepwise procedure also eliminates confusion. An individual will also be able to track his/her lock from our main page.

2. Multichain Support

First and foremost, BlockPad Vault will have multichain support. That having said, it is already integrated with the world’s three leading blockchains — Ethereum, Binance Smart Chain and Polygon (previously known as Matic). Individuals and project owners can lock their ERC20 and BEP20 tokens on testnet as of now. (Chain ID: 3, 97 and 80001)

3. Highly Customizable Vesting

We have integrated a total of four functionalities to support upcoming projects.

• Simple Locks: Lock your token for a certain period of time
• Vesting Schedule: Lock your tokens for a linear distribution within a certain period of time, released with definite consecutive divisions
• Cliff + Vesting: Lock your tokens for a certain period of time and create a linear distribution
• Liquidity Locks: Lock your liquidity tokens for a certain period of time

4. Withdrawal Abilities

You can literally lock tokens or create your vesting schedule for yourself. Or, you can also do the same on behalf of someone. In the latter case, that someone will only be able to withdraw unlocked tokens once the lock period is over.

5. Affordable Fee Structure

Project owners don’t have to worry about creating and deploying their own lock contracts and auditing them as it does not only cost money but it also consumes valuable resources. We wanted to prevent such activities by actually diverting their entire focus on core development. And that with an affordable fee structure.

BlockPad Vault Lock Process

Live demonstration: https://www.youtube.com/watch?v=LfWIAPMjETc

That’s it. Wanna try yourself? Just dm @blockpaddev and our dev will send you test tokens to let you experience the platform. BlockPad Vault will be audited by multiple firms before making it live on mainnets.

So, if you are interested in our private sale, show your interest by filling this form and you will be contacted soon!

Know more at:

Website: https://theblockpad.com/

BlockPad Vault: https://theblockpad.com/vault/

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