What’s Wrong With Existing IDOs Platforms and How SpacePort Will Be Different

In a recent blog post, we spoke about Initial Decentralized Exchange Offerings (IDOs) as a viable alternative to capital raising. IDOs have come a long way from the ICOs of 2014–2016 and the various iterations of token sale and listing events in the following years.

They are, to a high degree, a fairer and more decentralized means of fundraising, whereby projects launch their new tokens for sale on DEXs, simultaneously listing them on these DEXs as liquidity pools.

This isn’t to say that IDOs are the perfect model, however. With the freedom of decentralized listings and the multitude of platforms to choose from, it’s clear that there are still many shortcomings when it comes to this method of fundraising, as we will point out in this article.

Introducing SpacePort, the democratized open IDO platform. It is an IDO launchpad that is different from others, with the mission of making them even fairer, safer, more transparent, and more sustainable.

And how does it do this? By removing the gatekeeper aspects of many IDO launchpads. This is quite ironic if you think about it since many IDO platforms claim to be decentralized and yet have many hoops that projects need to jump through just to launch on them.

And what happens when you remove these gatekeepers? You get:

• Open access
• Independence to customize
• Opportunities for more transparency

1. Open access: SpacePort is not the box you have to fit into but the stage to be yourself

An unexpected problem with launching an IDO for projects is that it’s a one-size-for-all implementation on many platforms.

Simply put: if you choose Platform X for your IDO, then you have to fit their criteria. Whether this is in terms of choosing the token you want to conduct a liquidity pair in (you usually have to choose the native token as a pair), or being forced to accept a certain level of locked period, IDOs must comply with the platform’s requirements. This often requires projects to fit their plans and tactics around the model of the platform.

In worst-case scenarios, some IDO launchpads are even not as decentralized as they claim to be, with arbitrary requirements and hidden fees meaning that some projects won’t even fit the minimum requirements or afford the listing fees.

At SpacePort, we’re serious about democratizing capital raising, so we want to make sure that any and all projects can launch their IDO without restrictions and limitations via our Open IDO platform. What’s more, you can customize your IDO to fit your specific needs using our Factory tool to create on-chain contracts that specify things like IDO stages and durations, vesting periods, and locked amounts, for example.

So you never need to change your project or who you are just to fit into a mould. Use SpacePort as your stage and show your potential investors who you really are.

2. Independence to customize: You don’t need to be a rocket scientist to use SpacePort

Granted, most IDO platforms are quite easy to use. But the complexity really begins when you want to add a certain sophistication to your IDO. Many platforms are quite rigid in how they allow you to structure your IDO, while others may force certain aspects you may or may not need on you.

As we mentioned earlier, our Factory tool lets you add and customize all these different aspects (like locked amounts, stages and durations, and vesting periods) to your IDO easily and in a few clicks. All of these are completely optional, so you’re never forced to do things in a way that isn’t suited to your project or goals.

Best of all, you don’t need to understand a single line of code to tweak these settings. Factory is plug and play, accessed directly from a dashboard. Focus on your project and building your unique solution, and show investors what you’ve got.

3. Opportunities for transparency: SpacePort gives your IDO credibility with built-in transparency

With DeFi and IDOs unfortunately came the era of rug pulls. While some were more difficult to detect, with liquidity loopholes hiding in smart contracts, others were more apparent with unfair and opaque token economics that failed to look at long-term sustainability.

Did your project implement vesting requirements to protect investors from dumping? Did you lock liquidity to prevent malicious draining from pools? Well now, with SpacePort, investors no longer just need to take your word for it. They no longer need to trust that IDO launchpads did their due diligence.

On SpacePort, every IDO that is launched will automatically have its token appear on a Token Page with every single IDO detail plain to see by everyone. Max total supply, circulating supply, locked tokens and price, are all automatically generated using on-chain information, with links to self-verify the contracts.

How’s that for maximum transparency and giving your IDO more credibility in your community? You couldn’t even hide things from your users even if you wanted to!

True Freedom of Choice

Of course, freedom of choice also means that IDOs can still choose to seek the guidance and services of experts to achieve higher chances of success. This is why SpacePort delivers all of these democratizations yet also offers additional levels of IDO participation models.

Here, SpacePort will take an active role in IDO development at the request of projects.

The first is SpacePort Incubator, for which we will receive applications to select projects we believe to be unique possessing special potential. We’ll provide assistance every step of the way from pre-launch to the actual IDO event and post-IDO, in terms of marketing and PR, advisory, technical support, security auditing, and community building, among others.

Next, projects who want to get additional assistance from our experienced advisory and marketing network can also opt to go for an IDO with Plasma support. SpacePort will then leverage our global marketing network to assist projects build strong communities running up to their IDO.

At PlasmaFinance, we know how frustrating it can be for investors and retail token buyers still feeling their way in this space, faced with all sorts of launchpads that claim to be decentralizing token sales yet placing barriers for some entrants.

With SpacePort, we hope to improve the way projects raise capital.

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