The advancement of the technology and internet always innovates people to invent new things. Cryptocurrency is a digital currency that was invented because of the advancement in internet technology. It is a digital currency based on technology called blockchain. With the blockchain technology, it is possible to make a secure, transparent, and decentralized transaction.
What is Crypto Launchpad Platform?
The Crypto Launchpad platform is a kind of digital platform that is associated with cryptocurrency. The crypto launchpad platform is a special platform that facilitates the launching of new cryptocurrency projects mainly in the form of ICO (Initial Coin Offering) and IEO (Initial Exchange Offering). The Crypto Launchpad platform offers help for a new cryptocurrency project to raise funds or gain exposure within the cryptocurrency community.
How The Crypto Launchpad Platform Works
As explained before, the crypto launchpad platform is a digital platform that offers help for new cryptocurrency projects to launch. There is a brief explanation of how the crypto launchpad platform helps new cryptocurrencies during its launching period:
1. Crypto Currency Project Selection
The crypto launchpad platform selects only promising cryptocurrencies to be featured in their platform. The Launchpad platform selects new crypto projects through the venting process to ensure that they meet certain criteria, such as having a solid concept, a solid team, and clear usage as a digital currency.
2. Fund Raising
After the project was approved by the launchpad platform, it moved to the next stage which is the fundraising stage. The Launchpad platform will help the project with fund rase by offering their cryptocurrency to the investor.
The fundraising raising is usually done through a token sale event which can take the form of either ICO or IEO. There are explanations about the ICO (Initial Coin Offering) and IEO (Initial Exchange Offering):
– ICO (Initial Coin Offering)
An initial Coin Offering (ICO) is one kind of way to fundraise for crypto projects. If the crypto project wants to use ICO to gather the funds, its teams need to offer its new token to the public directly. Normally, the investor who is interested in the new project sends funds in the form of established cryptocurrencies such as Ethereum and Bitcoin in exchange for the new cryptocurrency.
Read also : Launchpad Vs ICO: Which one better?
– IEO (Initial Exchange Offering)
An initial Exchange Offering (IEO) is also a way of fundraising for a new cryptocurrency. In IEO the new cryptocurrency team needs to partner with at least a crypto currency exchanger to facilitate the new token sale.
The exchange’s platform will open sales to the investors, so they can buy new tokens that are provided by the exchange platform.
How Crypto Launchpad Works
1. Token Distribution
The Launchpad platform facilities the newly purchased token to investors after the token sales event ends. The token that is distributed by the Launchpad platform can be held in cryptocurrency wallets or on the exchange platform that has a partnership with the token.
2. Listing and Trading
After the token is distributed to investors, the Launchpad platform will help the token to be listed in various cryptocurrency exchange platforms. After the new token is listed in various exchanges, the investor can buy, sell, and trade the token.
3. Community Building
The Launchpad platform often help the cryptocurrency project teams in building and engaging the crypto community. The Launchpad platform helps in building community such by providing marketing support, organizing events, and fostering discussion around the project.
Some Crypto Launchpad Platforms
Cryptocurrency has rapidly developed from time to time, and many new cryptocurrency tokens have arisen until now.
The rapid debut of the new crypto token is related to the launchpad platform that helped them to launch into the global crypto market. Up until now, there have been many crypto launchpad platforms, and there are some examples of them:
1. Kommunitas Launchpad
Kommunitas functions as a decentralized crowdfunding ecosystem with a specific focus on Web 3.0 projects. While it may be commonly referred to as a “launchpad” or “IDO platform,” Kommunitas has a grander vision—to establish a vast ecosystem that promotes innovation and collaboration.
Kommunitas is a decentralized and tierless web3 launchpad that resides on the Polygon network. As we know, Polygon is a layer-2 scaling solution for the Ethereum network. However, the Kommunitas is multi-chain oriented, so it is open to projects also launched on the Ethereum, BNB Chain network, Fantom, Solana, Avalanche, and so on.
In simple terms, Kommunitas is a decentralized crowdfunding platform specifically for various web3 projects. Just like conventional crowdfunding services, their goal is to enable a web3 or crypto project to raise funds from the public or investors.
2. Binance Launchpad
Binance is one largest crypto currencies in the global market, and they even have their launchpad. Binance Launchpad can facilitate token sale events for various projects. Because the launch is integrated with the Binance crypto exchange, the user of the Binance exchange platform can join the token sale event and participate in new token offerings.
3. Coin list
Coinlist is a launchpad platform that connects promising blockchain projects with accredited investors. It has been used to launch various cryptocurrency token projects for a long time. Filecoin and Solana are an example of cryptocurrency tokens that use Coinlist launchpad to help them join the crypto space.
4. Trustswap
Trustswap is a crypto launchpad that aims to provide both the investor and project team security and utility. The trust swap launchpad offers a suite of tools for token launch such as time-locked payment, staking, and many more.
5. Matic Launchpad
Matic who now has rebranded into the Polygon has a launchpad that offers help to the crypto project by using a layer scaling solution. The main goal of the launchpad is to provide faster and cheaper transactions for Ethereum-based transactions.
6. Polkastarter
Polkastarter is designed to facilitate token swaps and auctions on their network which is the Polkadot network. The polkastarter is aimed at enabling a cross-chain token pool for projects built inside of the Polkadit network.
7. Balance Labs
Balance LABS is known for its Automated Market Maker (AMM) Protocol but it also has a launchpad platform named Balancer Labs’ Liquidity Bootstrapping Pool Platform or Balancer Labs’ LBP Protocol. This launchpad platform can also be used for token distribution and fundraising.
8. DuckSTARTER
DuckSTARTER is a launchpad that was created in the DuckDao ecosystem. The DuckSTARTER launchpad focuses on incubating and launching blockchain projects that are promising for the DuckDao ecosystem.
9. Poolz Finance
Poolz is a finance that focuses on cryptocurrency, It also provides a decentralized launcher platform to conduct token sale events with a dynamic pricing mechanism. The dynamic pricing mechanism is purposed to create a flexible and fair during the fundraising event.
In summary, the crypto launchpad platform is a platform that provides help to new crypto projects to do their launching or debut in global market. The crypto launchpad platform help new project to search for an investor to give the fund so the new crypto coin can be listed in the global crypto exchange.