Announcement #39: Ascent — Change the world, one project at a time!
Update: The ship has sailed from shore!
Ascent is live for projects. We invite the projects to play the testnet at http://launchonascent.com
Ascent is the world’s first decentralized token Launchpad platform which carefully vets best projects in which users can participate.
What’s wrong with the world you ask?
It’s the fact that the most deserving projects, ideas, things don’t get the right platform. Think for example a disaster like WeWork gets $20 billion worth of funding and a deserving project like doesn’t even get $10K for something like. It’s a basic detangler for wires on any electronic device
There are millions of such examples. A dog walking startup got $300 million funding https://edition.cnn.com/2019/12/09/tech/wag-softbank/index.html but great projects don’t receive a fraction of that. Because there is centralised decision making from certain offices which decide which projects are they willing to bet on.
A lot of these opportunities don’t even present to 99% users. That’s because of a lack of access. What if you could be a part of the initial Flipkart, Ola, Paytm etc. Can you do that ? No.
So what’s going to get built or happen in future you have very little say in it. What if you could. What if you could participate and drive networks which you passionately care about, understand or see value in. The world would be a lot more dynamic, would thrive a lot more innovations and things would progress so much faster and in varied dimensions.
Crypto provided a way with ICOs but it had it’s set of challenges. Then came IEOs which again has its own set of challenges that it’s limited. Then came DEXs which provide a way but there are a lot of scams and rug pulls that happen there. Here’s a comparative chart of the 3 modes:
Launchpad vs Centralised exchange launchpads vs Uniswap
ICOs are gone;
IEOs are almost done;
Uniswap based listings have been the in thing and this is where you frequently have such tweets:
There are thousands of such tweets and experiences people have on a daily basis!
This happens for multiple reasons:
- Non legit/scam team,
- Bots front run and pump up price in seconds before your actual order execution takes place and then start selling,
- Non locked liquidity on team, advisors, pre-sale investors,
- FOMO/ FUD through influencers just before launch. Because it’s a very abrupt launch in many cases it gives less time for people to research and find exact things,
You have an entire array of such experiences here: https://t.me/s/rektplebs
- There’s no transparency in allocation
- Allocations are often very low
- Often there are projects which are not vetted https://coinfomania.com/okex-postponed-its-attn-ieo-token-sale/
- There is no accountability on supply
This is where Ascent comes in!
With Ascent, users can get the best of everything and get a chance to shape the future they want to see by backing trustworthy teams trying to make a change.
What’s in it for $BNSD?
BNSD holders have following benefits:
- Voting for favorite projects w.r.t listing via governance token
- Participating in governance decisions of Ascent
- Getting 80% of the fees of Ascent. (Example: People would get fees in that proportion of staked BNSD. So if they staked 20% of total BNSD staked and fees generated is say 2 crores then they get 40 lacs )
- Becoming a validator for certain project related details and earning tokens for it
- Stakers would also get airdrops from certain projects.
Governance tokens (BNSG) users can get by burning their BNSD or BNS tokens. Update: You can read more about it in our 41st announcement
As of the time of writing, Uniswap has 1000 new pairs getting added every week. Imagine over a period of time on Ascent we have 50 a week great quality projects each having swaps of say 1000 ETH a project. That’s like 20 ETH*50 projects = 1000 ETH worth of fees getting generated for $BNSD stakers weekly. That’s huge and most $BNSD stakers would stake their tokens to participate in this.
What about Fees?
- The total fee would be 3% of the raised funds.
- BNSD stakers would get 80% of the fees generated
- 20% fees would be reserved with the foundation for further development work
Sounds Exciting. What kind of projects could be there ?
Basically, anything and everything under the sun. Here are a few to name:
So a writer trying to publish a book and seeking funds for it to a footballer creating token of skillsets where you can bet on and earn royalty of fees going forward, or
- Crypto DeFi projects, or
- Fintech innovations for the bottom of pyramid, or
- Community projects like fixing a pothole on a road. That can also get facilitated via this as the funds can’t get misused. They are in time-locked escrow which would only get released when certain milestones are hit. This showcases a supreme example of decentralised governance
We wish to drive the efforts towards decentralisation going forward and here’s our first footstep in this. We aspire to create a system Decentralised governance, decentralised community projects.