Can Blockpad take launchpads to the next level?
Whether you’re an enthusiast or new to the space, Crypto is a tricky space. For every two steps we see being made towards mass adoption, we see one step back regarding scams or what those in the know call a rug-pull.
Although the sector is evolving at a rapid pace and in real time, investors still expect trust, security and peace of mind when making decisions about where and how they invest their money. For those who go in eyes wide open, they know what they’re dealing with, but for those on the sidelines, well, don’t expect them to rush in anytime soon.
What we saw in 2017, with the boom of ICO’s, and the subsequent bust that followed gave rise to platforms known as ‘launchpads’, which in my opinion, further legitimise the sector by helping investors discover early-stage crypto projects before they enter the mainstream.
Are these launchpad platforms perfect? No, but they provide a layer of protection (read: confidence) to the market that the company has been vetted, and that yes, they are worth looking at. Problems remain, like the uncertainty about tokens being released on time, or, perhaps the worst case, that the newly minted (literally) founders have pulled the rug and are halfway to an island off the coast of Mexico (well that’s where I’d be looking for them… but that’s beside the point).
As more money flows into the sector, the need for a more secure experience needs to be created, which is how came across Blockpad, a multi-chain DeFi gateway for the Web 3.0 Ecosystem.
The issues with existing launchpads
There still exist many issues with current launchpads, including the following:
How will Blockpad address these issues?
- – An intuitive user interface allows for easy minting pre-audited tokens on multiple blockchains including BSC, ETH, POLYGON and KCC for now, with additional chains coming later this year.
- The Block Vault allows teams to fully customise their vesting schedule, and the Vault locks this in to secure the release.
- Smart contracts are initiated so that LP tokens in the liquidity pool are not available to the developers and are only released to the LP provider once the contract has finished.
- Ease of onboarding using the BlockVault to mint pre-audited tokens on multiple blockchains without requiring technical knowledge.
How does this all work?
When a company looks to use a launchpad for their IDO, they take the following steps:
- Design a token which will have a total number in supply, and
- Determine how that supply is allocated to investors and advisors, as well as how they intend to use for marketing, operations, and to have as liquidity on the platform selected.
For many organisations going raising funds through an IDO, the way supply is allocated, distributed and vests over time is a well-considered, yet heavily scrutinised process. Why? Because it acts a mechanism to ensure a robust and stable valuation, which creates an incentive for those helping the ecosystem grow.
Investors in these companies will generally have varying price levels, and vesting periods that are dependent on the round of investment they bought in at. The vesting period is the time that their allocated tokens are kept from being released to them to ensure stability in the network, which works both ways, as the team tokens are often locked up for years longer than the investors. For investors to have the comfort in knowing that in 6 months and 12 months’ time that their tokens will be released, this if of major importance.
BlockVault helps to make transparent the token releases for all parties . You can click here to see activity in the BlockVault live
The team does not have the ability to change these dates as they are locked, via the smart contract, and released on those dates.
We see this as a win-win, as it increases the security for the investor, but also allows for companies to leverage the secure ecosystem to raise more funds.
Tokenomics
In my view the relatively low Initial Market Cap ($171,050) at launch, together with a stable vesting schedule offers good growth potential and stability. The Fully Diluted Market Cap is $5.5m which compared to Blockpad’s competitors in the table below shows there is considerable upside.
With the suite of functionality available to teams looking to use the Blockpad to launch, together with the extra security features for investors and a great team behind the project, we see this potential being realised and even projecting past their competition.
Advisors and the Community
The team and the advisors at Blockpad have a wealth of knowledge and experience in the space. Their community thrives with close to 50k followers on twitter and 36k on telegram. They also have some industry heavyweight backers including @duckdao , Dutch Crypto Investors , Dreamboat Capital , Red Hat , SkyVision Capital, BlackDragon and Atesis Capital.
How do I see Blockpad performing?
It’s hard not to see Blockpad doing well, and whilst I’m not going to predict how their IDO will go, it’s evident that they are creating a launchpad with substance and transparency that will indeed be next level.
The launch is happening on three launchpads this week (details below), so I’d be putting this one on the watchlist and watch it like a hawk. If you haven’t picked up on it yet, I am in!
Andy Cameron |Blockchain | Defi
BLOCKPAD INFO:
Ticker: BPAD
Type: Utility-token
Token standard: BEP-20
Token price in USD: 1 BPAD = 0.55 USD
IDO (DuckStarter Launchpad): Nov 27, 2021 — Nov 27, 2021
IDO (Moonstarter Launchpad): Nov 26, 2021 — Nov 26, 2021
IDO (TruePNL Launchpad): Nov 25, 2021 — Nov 25, 2021
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Please note the above are my personal views and are not to be taken as financial advice.
About the author:
I am a Blockchain & Defi analyst and investor. If you enjoyed reading the above, give us a few claps and a follow. I aim to bring plenty of topics in the emerging blockchain space over time.
