SpaceSwap Starter IDO launchpad - a new star in the SpaceSwap universe
SpaceSwap Starter is a new IDO launchpad that is going to be released as part of the SpaceSwap ecosystem. Run by smart contracts, the launchpad will first be launched on the Ethereum network and later on the Binance Smart Chain network. The platform will be using the SpaceSwap MILK2 native token, which will become the admission ticket for token sale participants.
SpaceSwap Starter. Engine check
The creation of an in-house SpaceSwap launchpad is long overdue, ever since ICOs have proven to be invalid and insolvent. Yet, our universe of projects and strong community are all that’s needed to take the early-stage projects forward. So with no further ado - we are delighted to announce that we are preparing the launch of the SpaceSwap Starter launchpad!
The Starter will first appear on Ethereum and theBinance Smart Chain network will be added later, in line with our recent multi-chain approach to project development. All our projects will be thoroughly picked apart and pre-checked by the SpaceSwap Starter team. Our goal is to make the token sale process as clear and as transparent as possible, so that we are never associated with suspicious or unreliable projects. To participate in the token sale that will be conducted on the platform, users will need to stake a specific number of the MILK2 native tokens. As the platform is growing and the number of projects raising funds with us is growing as well, the market demand for MILK2 tokens will grow naturally. We are happy to have this use case for our token and to help boost holders’ profits. The Starter is now being tested by our team members. Our next post will be dedicated to a more detailed analysis of this product. For those of you willing to participate in the first public release - we will be announcing that some time soon, so be on the lookout for this news. Also, some sneak peaks are coming up :-)
What are crypto launchpads?
A launchpad is a platform specially designed for raising funds for new projects. Launchpads offer users a chance to buy tokens before they are made available on exchanges and whilst the token price is at a reduced level, resulting in larger profits in the future. Basically, launchpads serve as advertising pools for new projects and also help generate funds.
Generally speaking, launchpads can be divided into those that serve the CeFi sector and those that support DeFi token sales.
CeFi launchpads serve the needs of centralized projects. In effect, these launchpads recycle the concept of an ICO but in this case, the sale is conducted on a third-party platform under the custodial control of a trusted entity. The pioneer here was of course the IEO Binace Launchpad. Even though Binance did not actually invent IEOs (having been previously conducted back in 2017), this CeFi giant was the first to really succeed at it when it sold the entire lot of BitTorrent tokens, worth $7.2 million, in a mere 18 minutes!
DeFi launchpads exploit the same idea of a crowd-sale but using different technical solutions. The token sale on an IDO launchpad is run by smart contracts, providing the necessary transparency, fairness and impartiality. To participate in token sales, users will need to purchase and stake the launchpad’s tokens, which will generate a certain token allocation. This technique serves both the launchpad and the projects involved, creating a loyal community around both and favorably impacting the price of the tokens.
The ’allocation’ is the share of tokens available for each trader to purchase. The provided allocation is not obligatory for redemption but the perfect outcome for a token sale is when every single allocation is sold.
How do launchpads make their profit?
The monetization idea behind launchpads is very simple. There is usually either some kind of fixed fee for projects wanting to be listed for a token sale or the launchpad takes a share of the tokens as their commission.
Launchpads and safety
The reason why launchpads have gained popularity lies mainly in the belief that the projects listed by them are safer than the ones using the original ICO concept. That is true, because launchpads take responsibility for the choice of start-ups they present, risking their reputation and exposing the financial benefits to stay clear of scams and low-quality projects. There is a vetting process, where projects are checked for compliance with national and international regulations, for financial viability, whitepapers are researched and sometimes even the background and reputation of its founders is looked into. Of course, there is no guarantee that the project you invest in is going to last long or multiply your investment by multiple times. In fact, platforms are not an official legal guarantor and will not compensate you if your investment is lost. As always with blockchain ventures, you should do your own research and this is where launchpads can be a great help.
To sum up,
SpaceSwap Starter is able to offer users minimized risk, due to: the smart contract based process; the pre-checking of projects’ incl. basic documentation; a convenient project selection that lists all the necessary links and short descriptions; clear allocation logic; and a user-friendly UI. More features will be added gradually, expanding the amount of opportunities that the launchpad can offer.
Soon we will be announcing the first company to conduct a token sale on our platform - follow the news!
Also, keep in mind that MILK2 being our main token will be a pass to a lot of interesting events;-)
