Video Link- https://www.youtube.com/watch?v=mJjDQfOIlY4
In tonight’s episode of A Little Late in Crypto the panel answered questions about the process a project goes through to select a launchpad to hold their IDO. We learned from the panel that it’s standard for a project to hold IDOs on three to six platforms, and recently SolChicks came out of the gate with over 30+ launchpads on the docket. There are many different IDO launchpads, and each one has a different segment of users who have varying priorities. Projects can use a network of IDO launchpads to reach a larger audience.
The IDO launchpad can help a project with their goal to reach the moon.
The IDO process is less a fundraising mechanism and more of a marketing, branding, and community building effort. Projects should look for the types of partners that any given launchpad has, the advisors as well as board members. In this game it’s who you know, not always what you know, and how good is your network? The name of the game is producing the hype to grab the customer.
Launchpad Community Building, Price Action & Allocations
Other aspects that projects should consider when they are making their launch pad selections should include studying the type of community members that the launchpad has, where they are from and what their interests are to ensure the audience is a good match for the project.
Another important metric for projects to check is the past performance of IDOs and what happens to the project and price when the hype dies down. How does the launchpad present the project to the community? Is there marketing and engagement with potential investors? What platforms are they strong in? Do they ensure their allocations are fair, and do they require locked tokens for liquidity?
When deciding on IDO launchpads it could also be beneficial to research the total market cap of the projects that have launched there. Having a full understanding of the allocation rules to ensure the allocation rules align with the project’s tokenomics is crucial. One thing projects need to consider is if they want to have good price action post launch its usually wider to give a smaller allocation to each investor.
Which chains have the best IDO communities?
The DeFi boom began on Ethereum but the gas fees have prevented it from dominating. September 2020 the Binance SmartChain launched as the answer to the gas fees and has ascended to the number one spot for projects to host their IDOs, the community is massive, and it spreads across many regions with local language support. Others include Polygon, Solana, Phantom, and more, but BSC is the clear leader.
DPAD Selected the Binance Smart Chain
The gas fees on Ethereum make it an impractical choice for most launchpads, and DPAD has selected Binance SmartChain (BSC). Gas fees on BSC have been averaging 8 gwei, while on the Ethereum network they are often in excess of 100 gwei. This translates to a huge advantage when considering small transaction sizes. The core tenet of a decentralized launchpad is having a fair process to provide access to financial products for all kinds of investors, not just those at the very top. The lower gas fees are conducive to this practice.
DPAD is not the only one who agrees, the number of unique addresses on BSC went from 2 million to 50 million in a single month, and now is at 119 million addresses. The daily transactions hit a new all time high on the 25th of November of more than 16 million in a single day. DPAD will join in the next billion users to crypto by facilitating projects on the most popular chain for decentralized token offerings.
DPAD Private Sale
DPAD is building a decentralized protocol for crypto launchpad where anyone can raise funds for their business idea. The whole process on DPAD is decentralized and user controlled. DPAD supports the decentralization of crypto, true ownership of crypto assets. Learn more about DPAD on the following links: