Launchpads have been surfacing in the crypto space ever more recently, but very few know what launchpads are and what they have to offer. A launchpad, commonly referred to as an IDO (initial DEX offering), connects investors with new decentralised finance (DeFi) projects. Due to the lower barriers of entry and increased access to larger pools of investors, cryptocurrency fundraising has gained traction.
Like startup incubators, crypto launchpads assist projects in raising capital through initiatives such as initial coin offerings (ICOs). Launchpads help projects raise capital through their platform. Creators of cryptocurrency projects submit their projects to a launchpad for review and approval.
The vetting process of the projects considers the project’s roadmap, its potential for widespread adoption, the team associated with the project, and the benefits the project has to offer the cryptocurrency ecosystem. A launchpad is essentially a place for investors to discover the most promising and innovative DeFi projects that have an additional layer of security in an industry that is rife with scams and rug pulls.
Each project on a launchpad has been handpicked and has been subjected to a rigorous vetting process before it is promoted. Launchpads carefully consider each DeFi project to ensure that potential investors can feel as if each project is secure and can succeed.
What is an IDO?
An initial DEX offering (IDO) is a way of raising capital from retail investors. It was created to address the shortfalls of the “traditional” initial coin offering (ICO) cryptocurrency crowdfunding model. Due to the fact that an IDO operates in conjunction with a decentralised exchange (DEX) rather than a centralised exchange, DEXs can be seen as decentralised liquidity exchanges.
IDOs are the newest fundraising model for cryptocurrency projects but are not without any drawbacks. For instance, DEXs are less scalable, meaning that it is not uncommon for ICOs and initial exchange offerings (IEOs) to raise more than $1 billion – this is unheard of for DEXs.
BoostX – The multi-chain launchpad
Due to the volatile nature of the crypto market, it is difficult to identify upcoming DeFi projects to invest in, and even more difficult to determine if they are legit and safe to invest in. It is thus very easy to see why launchpads such as BoostX are so successful.
BoostX, unlike other launchpads such as Binance Launchpad and Avalaunch which only focus on one blockchain technology, selects and vets crypto projects on a variety of blockchains including Binance Smart Chain (BSC), Polkadot (DOT), Ethereum (ETH) and Terra (LUNA). It is one of the most dynamic launchpads in the market and is also a technology provider that assists new projects in conducting successful presales.
BoostX launches through a dashboard that has been equipped with a dynamic pricing system and displays presale information. In addition to that, BoostX also offers a variety of start-up services to projects, one of them being an expert marketing service for cryptocurrencies, by supplying mentorship and assistance with marketing. As a result of the many services BoostX offers, several of the projects supported by BoostX have grown more than 3000% since their inception.
