DxLaunchpad Whitepaper v1.0
This is a detailed information about DxLaunchpad product, features and tokenomics.
What Problem Will Dxlaunchpad Solve?
The Raven Protocol, launched on Binance Dex on 17th of June 2019, was the first known Initial Decentralized Offering in the cryptocurrency industry. The success of the offering inspired dozens of projects to launch on Binance Dex. Later, more projects began to launch token sales on the Binance centralized launchpad. It didn’t take so much time for the industry to make a paradigm shift, and launchpad got the adoption that it deserves. With the rise in demand for Decentralized Financing (DeFi) in 2020, there was a need to reduce barrier entry to crypto fundraising. Only a few projects could afford to raise money through Initial Exchange Offering (IEO). Hence, the first launchpad was created on the Ethereum blockchain. By making token sales on Uniswap, the cost of listing tokens got reduced to the barest minimum, but this low cost led to some sort of sabotage and the Ethereum network experienced a surge in gas fee. Some investors who are tech savvy began to game the system by front-running listings shortly after liquidity has been provided. A new term “ape in” became popular and some buyers could buy out a newly created token before others are able to buy. This action led to high gas fees that discouraged retail traders from using Uniswap for trading, and the Dex began to experience slow performance. The new development justify the demand for; Cheaper and ultra-fast transactions Secure, and more user-friendly launchpad Multichain launchpad
The key feature of Dxlaunchpad is the possibility of multichain fundraising, participants can experience seamless, cheaper and faster transactions during IDO. It is important that decentralized financing is not frustrated by one chain, having choice is a must.
The Dxlaunchpad Multi-chain Platform
Dxlaunchpad is a decentralized automated platform for fundraising and the product is ready for launch, several crypto projects will use it to gain funding which would be used to further develop their innovative ideas in a more effective and efficient way. Below are ways that projects raise funds;
Conducting Initial Exchange Offerings (IEO) on centralized exchanges, the team would be required to create several limit orders so that exchange users can buy the token from the exchange with ease. This option requires the use of Initial Coin Offering (ICO) based smart contracts.
The team can create a pre-set up pool on Uniswap, but this method is often abused by bot users, and a lot of people have lost money through it. Hence, it is no longer a viable option.
Raising money through token sale contracts that have a fallback function. Investors will send BNB/ETH to the address and the token equivalent is sent to the investors. However, the risk is less but the smart contract creator may take advantage of the fact that money raised is not locked, then siphon the funds.
This is the crudest way of fundraising because BNB/ETH will be sent to the team wallet and investors will wait for the recipient to distribute tokens to all wallets that invested into the project. The challenge is that; there has to be a high level of trust, and the team capability must not be in doubt.
Features of Dxlaunchpad
Trustless Fundraising: All other options require some level of trust from the investors. On Dxlaunchpad, it is a trustless fundraising platform. In a situation when the token sales are not successful, the investors have the liberty to claim their money, and it will be returned to their private wallets.
Multi-chain IDO: Already, our product is 90 percent ready to be launched. Currently, Dxlaunchpad will support Ethereum and Binance Smart Chain. However, we will support as many blockchains as possible, they will be integrated into the platform. Due to the existing gas fee challenge on Ethereum, users will have options of making fundraising on Ethereum or other chains.
Cheaper Fee: At the point of choosing the right platform for IDO, teams often consider the platform fee. Dxlaunchpad offers the cheapest fee in the industry, as crypto projects will only pay 0.25 BNB and 0.1 ETH, plus 1 percent of token sold.
Fast and Responsive Support: Although, our platform has been tested rigorously. Nevertheless, our technical team is ready to help you out if you have any challenge using Dxlaunchpad.
Demo: You are invited to create a test token on our launchpad and experience the beautiful and seamless Initial Decentralized Offering.
Automatic List: Rugpulling is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors' funds.To mitigate this, the team will be required to list the tokens on Dex and use a fraction of the raised money to provide liquidity.
Use Cases
DXLP token which is the native token of the DxLaunchpad platform will be an utility and governance token. These would be the basic use cases of the token:
Buyback and Burn of DXLP tokens
50 percent of platform revenues will be used to buy tokens from the open market and they will be burnt. This can be done weekly or monthly to create consistent buy pressure for the DXLP.
Remaining 50 percent of platform revenue is sent to the treasury wallet, and it will be used for platform development, team revenue and marketing when it is necessary.
These percentage allocations are subject to change when the governance launches, and DXLP holders and supporters will be able to have their say on the decision making processes.
Yield farming
There will be two farming pools, single token staking and liquidity providers farming pool, which will serve as a form of passive income for DXLP holders. The annualized profit returns (APRs) will be decent and attractive enough, but not to the extent that it will have negative effects on the price of DXLP tokens.
Tokenomics
Only 50 million DXLP tokens will ever exist, and only 40 million will be sold at presale.
Token Information
Last updated
