Instaraise launches IDO Platform for the Tezos ecosystem

What Is Instaraise?

Instaraise is the first decentralized IDO Platform on Tezos (XTZ)that enables projects to distribute tokens via auctions.

Instaraise, formerly known as Wiltpad, was launched in May and rebranded in June. The project seeks to solve the problem of transparency and trustless sales during coin and token offerings.

The project identified problems with many DeFi project launches such as “high barriers to fundraising, lack of access for investors, high costs of entry for adopters on both sides” and delivers a solution through their IDO launchpad built on the Tezos blockchain.

Token-based projects in the Tezos ecosystem can utilize Instaraise by setting up a swap pool (liquidity pools containing two tokens/stablecoins or fiat) based on a fixed purchase rate for tokens. Utilizing smart contracts for security, DeFi projects can now raise and exchange capital cheaply.

We’ve referred to Instaraise as the first-ever IDO platform, but what exactly is IDO?

What is an IDO Platform?

IDO, short for Initial DEX Offering, involves the launching of a digital asset on a decentralized exchange (DEX). Decentralized exchanges, unlike the traditional centralized exchanges, do not require an intermediary for transactions as they can be securely performed online via peer-to-peer.

IDO’s are gaining popularity because unlike Initial Coin Offerings (ICO) and Initial Exchange Offerings (IEO), IDO’s offer cryptos with immediate liquidity, immediate trading, and much lower listing-related costs.

IDOs help with open and fair fundraising. In other offering methods, private investors often buy large amounts of tokens before it goes public only to resell at much higher prices after the launch. By bypassing third parties, IDOs offer everyone the same opportunity of partaking in a fundraising event.

The Raven Protocol is largely considered the earliest IDO project launched via the Binance DEX. Another successful IDO project launch is the Universal Market Access (UMA) protocol via Uniswap.

Instaraise and the Tezos Blockchain

Instaraise is built on the Tezos Blockchain, a decentralized, open-source energy-efficient proof-of-stake network called liquid proof-of-stake (LPoS). Tezos, unlike most other PoS blockchains, takes a unique approach to governance.

While many blockchains depend on their development teams and mining communities, Tezos creates “governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network.” This incentivizes user participation in the core development process.

As DeFi expands on the Tezos blockchain, Instaraise seeks to make the ecosystem safer and more secure by mitigating the risk of rug-pulls and Defi Token sales biased. By offering fair sales, Instaraise ensures that all IDO launches are equalized and democratized for all crypto investors, big or small.

Where Does Instaraise Stand in the Scheme of Things?

The evolution of Wiltpad into Instaraise was announced on June 18. The goal of the project still remains — to assist projects to more resources and cost-effectively raise capital in a decentralized and interoperable environment.

The original mission of building a protocol for token pools and auctions has now advanced into being a launchpad for platforms. The aim is to help decentralized platforms raise and exchange capital as cheaply and as quickly as possible.

Instaraise partners with Hypersign (HID)

On the 30th of June, Instaraise announced an exciting partnership with Hypersign (HID). The partnership seeks to solve the growing disconnect between projects and their community facilitated by the growing number of bots and fake identities that are encroaching the crypto market.

Instaraise recently completed the sale for GOeureka; a travel tech company utilising blockchain technology to decentralize the hotel booking sector. The fundraise saw the sale of 100,000 XTZ (Tezos), which by today rates amounts to $289,000.

For more information on Goerueka IDO visit https://instaraise.medium.com/

An interesting upcoming event is the sale of the $INSTA tokens — the utility token for the Instaraise platform. Although no date has been announced yet, 75,000 XTZ has been scheduled for the launch. After the sale, liquidity mining, staking, and staking rewards will be issued with the $INSTA tokens.

The Instaraise Team

Instaraise was co-founded by Dibyo Majumder and Aditya Gautam who previously Co-founded Bchain-Dynamics and served as the lead developer at Tezsure respectively. Both co-founders are incredibly experienced in designing and developing DeFi products on Ethereum & Tezos.

Also on the team are Vibhav Sharma (Blockchain developer) and Ketan Kudikyal (Frontend dev). Tony Thomas serves as the UI/UX Consultant while Co-Founder at Kalamint, Sandeep Sangli is the Advisor at Instaraise.

Conclusion

Tezos is a fast-growing decentralized finance platform, already ranked among the top 50 crypto projects. The unique offering of the Instaraise platform promises to draw new DeFi projects to the Tezos project. In all, the Instaraise project holds a lot of promise for the future.

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Investor . Advisor Blockchain, Tech Start-ups & Scale-ups