An Introduction to Smartpad
IDOs are a very prominent trend in the DeFi ecosystem and a solid fundraising choice for many upcoming startups. However, current launch pad space is plagued by the multitude of problems. Among them we can identify an over restrictive nature of launch pads, which are typically single-chain-focused. Majority of launches are held on Ethereum and technical difficulties surrounding the cross chain token deployment, prevent teams from holding the IDOs on multiple chains.
At the same time, the lack of transparency makes room for an unfair whitelisting process, disrupted by the bots and backroom deals, thus, excluding the users from taking part in the number of IDOs. Some projects are given preferential treatment by the centralized nature of the listing process and the lack of trust and due diligence in projects on Binance Smart Chain may turn teams away from launching on this particular chain.
Enter the Smartpad, a cross chain, B2B ecosystem, designed to provide solution to the existing launch pad issues. Smartpad offers startups the flexibility to raise capital in a decentralized manner across multiple blockchains. Smartpad aims to become a partner on the forefront of the Binance Smart Chain economy. Its objective is to lower dependency of a single chain, while promoting an inclusive cross chain economy of fostered innovation.
How does Smartpad benefit the current launch pad ecosystem?
One of the most convenient feature of the Smartpad platform is that fact that it allows to hold IDOs on multiple chains. For now, these are mainly Binance Smart Chain and Ethereum, with Polkadot currently in the works. Reaching out to the audience on multiple chains would enable an additional influx of capital and a significant increase in the number of participants.
Smartpad also plans to solve the current issues within the whitelisting environment by introducing a lottery system, based on pre-IDO staking and tickets with selection process fully transparent on chain. The tickets would be chosen at random, thus ensuring that participants are given the fair treatment they deserve, preventing bots from taking advantage over a regular user.
Moreover, Smartpad aims to utilize the DAO voting and ecosystem partners, who will be responsible for the due diligence of each project listed on Smartpad. In addition, Smartpad is bringing an internationally diverse approach to decentralization by inviting the veteran DAO members from different regional ecosystems such as China, India and Western countries, thus attuning to the interests of multiple regions.
Finally, Smartpad will provide an in-depth project reports from its institutional partners and DAO infrastructure, to deliver more profound insights to investors who are looking to take a deeper dive into projects that launch on the platform.
Diving into Smartpad’s features
At its core, Smartpad is a cross chain IDO platform. By bridging into other blockchains, it opens up a possibility of a better exchange experience for tokenized assets. Smartpad provides an ability to launch an IDO on a single or multi-chain at the same time, while also creating a synthetic pair on chains, other than the native blockchain.
These non-native tokens can then be utilized to create the reward incentives on other blockchain with the help of synthetic farming. For example, if the token is originating on Ethereum, its synthetic version can be staked on Binance to generate yield in BEP-20 Synth equivalent.
Smartpad is also looking to create whitelisting as a service for IDO clients. At the moment, there are only 35 tokens whitelisted for Binance cross chain bridge swaps. By introducing this service, a number of interoperable services could be provided, including cross bridge creation of wrapped assets for nonnative chains, starting with Ethereum and BSC.
Finally, Smartpad’s system of APY Vaults benefits long-term holders with passive APY, allowing them to maximize income inside the pool with minimal risk.
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