KickPad & Dex is a new decentralized presale and IDO platform on the Binance Smart Chain. Their mission is to make Defi a safer place for crypto investors while giving new exciting projects a chance to gain exposure. All of this is done through their innovating ecosystem.
Kick is an ecosystem consisting of two main parts:
1. KickPad, The IDO Launchpad
Part 1 is the IDO Launchpad. Here, there are two possible ways to participate: A private sale (higher tier), and a public sale (lower tier). The use-case of the $KPAD token will be apparent here. Compared to traditional IDO’s where getting an allocation is a game of chance, with KickPad you gain allocations based on how many $KPAD tokens you stake or hold. By doing either, you earn a “pool weight score”. Staking gives you private sale allocation, while holding gives you public sale allocations. The Kick team is more involved with these launches. Through a secure vetting and screening process, new projects can bring a lot of value with minimal risk to the community. The process is strict, demanding, and aimed at transparency.
Teams that wants to launch on the IDO will have to, among other things:
- Complete two audits
- Pass a preliminary manual overview
- Pass an interview
- Make all code public
- Pass through a committee overview process
2. KickDex, The Rugproof Presale Platform
Part 2 of the ecosystem is an open-source presale platform that locks liquidity called KickDex. The Kick team focuses more on the IDO Launchpad. The “rugproof presale platform” is there to relieve the stress of liquidity locking. During a presale, the KickDex eliminates the seller’s chance to run away with your money without adding and locking liquidity to an exchange.
Nonetheless, it is important to remember that there is always a danger in crypto. People are inventive in their methods of scamming or abandoning projects. Even so, KickPad is a step in the right direction with its innovative solutions.
Kick’s process, from the beginning of the sale to the final LP tokens unlocking after the lock duration ends, can be seen below.
The current problem with presale platforms is that projects do not lock tokens and liquidity initially. The projects’ owner can “lock-up” team tokens or liquidity tokens after the presale is finished, only if the team wants to lock it. The sellers, not the buyers, set the premises. This makes the whole endeavor a lot riskier than it should be, as teams can rugpull freely. As an example: With the current systems, if you send 1 BNB to a seller, they can run away with your 1 BNB. But with KickDex, the seller is FORCED to add 0.5 BNB to Pancakeswap and lock it. By using KickPad, they cannot steal the liquidity. Their smart contract does this process automatically, fully transparent for the buyer.
