The crypto and Defi sphere is growing rapidly, with new projects and solutions coming up every other month. It's becoming very hard every other day for crypto projects to successfully tread in the crypto space due to the high competition in crypto. As a solution to the problems facing upcoming/startup crypto projects, crypto launchpads were introduced.
Launchpads are crypto projects designed to help these upcoming projects reach their full potential and mainstream adoption. Generally, there are many ways to safely raise funds, including ICO, STO, IEO, DYDO, SHO, etc.
Launchpads help new projects attract the community, thus making it easier for them to tread in crypto. The platforms are like advertising pools which also help garner crowdfunds. Projects listed in launchpads are vetted for the utter protection of the investors' wealth.
Moreover, launchpad projects help reduce the barriers of entry like costs and regulatory requirements. Although there are multiple crypto launchpad projects, very few provide excellent and trusted services. This article is going to discuss some of the current best launchpad projects.
Binance Launchpad is a token sale platform designed for raiding funds publicly. It's a product of the Binance exchange platform, the currently most popular crypto exchange platform, and by providing launchpad services, it encourages small projects to grow.
The Binance launchpad has contributed to releasing some of the best Defi projects of our time, including Kava, Band protocol, and BitTorrent. The native currency used in the Binance Launchpad is the BNB token; therefore, any project and persons participating should be holding some amount of BNB.
To stand a chance for a listing, a user has to fill an 8-page google form, after which the project will be considered for listing.
The Maker DAO pad is another very popular crypto launchpad. The Maker DAO project was launched in 2017, but the launchpad option began in 2019. Since then, Maker DAO has been providing excellent services for upcoming crypto projects.
This platform has been in extensive use over the years, providing services like Dynamic Coin offering (DYCO) and Strong Holder Offering (SHO) and initial coin offerings (ICO).
MakerDao has its native token $DAO, the primary token used for fundraising on the launchpad. Since its launch, Maker Dao has been able to help projects like Orion Protocol, Elrond network, and many more platforms.
Like in Binance, Maker DAO is a centralized launchpad and requires the new projects to complete a set of requirements to stand a chance in listing. Therefore, a user has to apply to be listed and has to get some connection to succeed.
To foster decentralization, Unicrypt developed a decentralized launchpad for everyone to run their presales. There is no need for applications and waiting for reviews; instead, a user runs the presale on the launchpad. To explain their decentralization even further, the project uses the example of UniSwap, where anyone can list their tokens. Therefore this launchpad will be the'UniSwap of Presales.'
This platform allows startup Defi projects to post their ICOs/ILOs without necessarily adhering to a list of regulatory requirements. However, there are presale preconditions for project presale participation;
Launch a native token with the soft and hard cap set
At least 30% of the liquidity of tokens in presale should be locked on Uniswap.
Presale takes two rounds, and only UNCL and UNCX holders can participate in round 1. Round 1 takes a maximum of 2 hours.
If the platform doesn't hit the hard cap after round 1, round two of the sale will start. The latter takes two weeks and is open to everyone.
Among the other attributes of the launchpad include scalability and automation. Due to the automation and scalability, multiple projects can launch their presales simultaneously.
Till now, several platforms have successfully launched their presales in the Unicrypt launchpad. Among the platforms include Graphlinq, Lightning Protocol, Savix, etc.
Especially impressive is Graphlinq, which sold their hard cap in just about 30 seconds and reached a volume of $30 million in less than 24 hours. Other projects have also had great success thanks to the Unicrypt network's launchpad.
Although there are many crypto launchpad platforms today, the three platforms mentioned above are probably the best performing. Binance and Maker DAO, although highly performing, are still troubled by the issue of centralization. These platforms make the processes a little complicated for users, thus hindering or stagnating the growth of Defi projects.
Unicrypt offers a decentralized launchpad platform that uses automated processes to ensure every project stands a chance. This platform has auditors who vet the platforms and warn users about any possible scams. However, Unicrypt does not provide complete protection for investors since any project can list itself.
The use of launchpads will help ensure the crypto world continually grows and succeeds.