Introducing InfinityPad: Chain agnostic, Decentralized, Community-Owned Protocol Powered by BSC (1/2)
In blockchain space, there is a need to have a fundraising solution for early projects to host cross-chain campaigns under one roof and with interactive UI to engage a project’s supporters. This kind of solution would act like a crypto exchange but completely decentralized.
While there are some solutions offering a standard token swapping; they, however, are not really decentralized and transparent solutions. We witnessed great innovations in IDO launchpad space since late 2020 but there is still a lot of room for further innovation and improvement to bring an effective and efficient IDO launchpad in crypto space. So, we conducted market research, looked at launchpad market evolution with historical data and developed a platform which a completely decentralized, chain-agnostic and community-owned.
In this post, we are officially introducing InfinityPad for the first time, and explaining how it addresses three key problems in IDO launchpad space of blockchain.
“Major flaw is that most launchpads are based on single blockchain, have inefficient allocation process, and give zero advantage to its long-term holders over newcomers irrespective of their token holdings.”
Now, let’s talk briefly about the problems that InfinityPad is going to address:
Problems with lottery-based systems
- Usually, we see two types of pools based on lottery systems. One pool is for public which means anyone can apply for whitelisting and another pool is called private pool which is open to token holders of a launchpad. The issue with public pool is that it’s heavily manipulated by bots so a typical supporter has low to nil chance of winning a spot. The private pool has a very different issue — it doesn’t encourage anyone to hold tokens for long time as people usually buy tokens to participate and then sell upon whitelisting process. This creates price cycles where token price of a token is driven by IDOs not by the launchpad’s value preposition.
Problem with token-holding systems
- This is an improved version of the first generation of launchpads and gives its participants allocation based on their native token holdings i.e., the more tokens you hold the better chances you have to secure an allocation. The PROBLEM here is that even after spending thousands of dollars to acquire large number of tokens, your chance of securing an allocation is purely random as someone holding a few hundred tokens can get an allocation while you get nothing despite holding thousands of tokens. The only advantage one has is a higher allocation if you get the allocation. So, it really doesn’t incentivize people to buy and hold tokens for long term. Not a very efficient and rewarding system!
Problem of constant selling pressure from market
- Irrespective of the system a launchpad adopts, it fails to create demand of its tokens in the market. In other words, there is no mechanism to take off selling pressure from the market and that’s why we observed price dumps again and again once an IDO is over on a platform.
The above are only the top three problems but we can add more if we dig deeper, let’s leave it for later. Now, what is the solution, you may ask?
So, we introduce InfinityPad: Decentralized, Chain-agnostic, Deflationary
