Crypto launchpads are one of the most popular recent innovations in the cryptocurrency space.
Generally known as ‘launchpads’, or more specifically ‘Crypto Launchpads’, these platforms are used for the sale and distribution of tokens for early-stage cryptocurrency projects offering a number of benefits for both the project that is about to launch, and the investors, or traders, in the community.
In the past, crypto start-ups relied on ICO’s (Initial Coin Offerings) to raise funds, however these were mostly self-hosted initiatives and the investors were offered little guarantee of the project’s ability to deliver on their commitments. As it turns out, many projects that raised capital via ICO’s in 2017 and 2018 either failed, or were outright scams, leaving investors wishing for more.
When a project and token sale is run well however, it can be very rewarding on both sides of the equation, with the project receiving the capital required to execute their business plan, and the early investors procuring some valuable tokens at a discount.
The Genius X ecosystem is designed to help the most promising start-ups find that successful path.
The Genius X Ecosystem
Creating a new web3 or cryptocurrency project is complex and takes a lot of work. All projects coming through the Genius X Accelerator Program have been carefully selected, and once on-boarded receive a customized solution that provides them with all the tools and support needed to successfully launch their product. While each project’s requirements are unique, Genius X provides a range of services such as marketing, legal and business strategy, token design, fundraising and Web3-specific expertise.
The Genius X Launchpad plays an important part in the Genius X Accelerator ecosystem — to simplify token distribution for the purpose of raising funds, while offering the retail investors additional guarantees of fully-vetted projects that have received expert support to ensure the greatest chance of success.
The Genius X Launchpad
The Genius X Launchpad is a KYC-regulated smart-contract based token sale platform for Cardano.
The smart contract has been 100% written by Dr. Lars Brünjes in Plutus and has been translated into plutarch by the Mlabs team. The smart contract has been successfully audited by Tweag.
The launchpad has a unique feature that is the first of its kind for any launchpad in crypto: it allows for oversubscription for a sale. If participants buy more than the total supply allocated to the public sale, they will receive a percentage of the tokens ordered, plus a refund of the remaining amount in ADA. This design allows for more flexibility and guarantees all participants will at least receive a partial allocation of tokens from the project.
All launchpad sales will be handled by the smart contract which will ensure:
- The buyer will receive at least the minimum amount of tokens allocated to them, at the agreed price.
- If the buyer receives less tokens than requested, they will be refunded the difference in ADA
- If the buyer does not receive any tokens (due to not being qualified or whitelisted for example), they will be refunded all of their ADA (minus normal transaction fees)
Using smart contracts to fully manage the launchpad makes the platform secure and trustless, creating a great standard for conducting token sales on Cardano.
Additionally, the Launchpad has been designed to make the most of the eUTxO design, and uses an order book styled architecture that leverages parallel processing of local transactions to avoid common blockchain bottlenecks, for fast processing and an enhanced user experience.
Features for Genius X users
The Genius X Launchpad has a number of exciting features for its users.
Staking: using the native token of the Genius X ecosystem $GENSX, the platform will use a tiered staking program with several benefits for token holders
- All stakers receive 20% of the Genius X Launchpad fees, rewarded in $GENSX
- Guaranteed launchpad allocations for all tier level stakers
- Increasing maximum allocations for high tiered stakers
Genius X Staking Program Rewards:
Other benefits of staking include:
- Governance — voting power in Genius X Improvement Proposals (GIP)
- Unlock Genius X NFTs
- Participation in the lottery to have a chance to win a powerful NFT
- Increased number of different tokens earned through the Genius X accelerator program redistribution.
More information about the Genius X Tier System can be found here: https://genius-x.gitbook.io/genius-x-whitepaper-v.-0.1/gensx-token/genius-x-tier-system
Conclusion
The Genius X Launchpad will be a smart-contact based, KYC compliant token sale platform for the most promising start-ups coming through the Genius X Accelerator Program and launching into the Cardano ecosystem. The platform will incentivise and reward loyal users via staking and reward NFT programs. The Launchpad is a crucial component of the Genius X ecosystem and will become a popular focal point for new projects, offering exciting opportunities to investors.
About Genius X
Genius X is a Web3 business accelerator and launchpad for fully-vetted, early-stage startups. Our mission is to create a more decentralized and inclusive web3 future built by the brightest minds utilizing blockchain technology. Our program helps ambitious founders turn their vision into reality by building impactful and scalable solutions leveraging blockchain technology. We accelerate promising startups by providing advisory support in areas such as marketing, business strategy, token design, and fundraising, giving them the edge to become successful.
The Genius X Advisory Program onboards professionals who provide consulting services to Genius X Projects founders and teams under the Genius X Accelerator program.
Startups interested in joining the Genius X Accelerator program can get in touch and apply here.
ADA Holders can check out our ongoing Genius X Multi-Token ISPO to get access to projects in the Genius X Accelerator Program. The Genius X Multi-Token Initial Stake Pool Offering (ISPO) is the first of its kind, furthering the innovation of the ISPO model by easing access to the tokens of multiple projects instead of a single project. The Multi-Token ISPO presents the opportunity for millions of ADA holders to receive the tokens of multiple projects in the Genius X Accelerator Program by delegating their ADA to a single ISPO. You can learn more about ISPOs here.
Venture Capital / Accredited Investors — Contact us here.
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