HELP — “HighEnd LaunchPad” | Setheum’s IDO Crowdfunding Protocol
“Crowdfunding is now easier on Setheum with the HighEnd LaunchPad” — Khalifa MBA, Founder of Setheum, Creator of HELP (HighEnd LaunchPad)
HighEnd LaunchPad (HELP) Protocol
Crowdfunding LaunchPad on Setheum
Teams and projects that are building smart contracts and dapps on the SEVM would need to raise funds and even bootstrap their tokens on the SetSwap. They need community backing by liquidity providers and the crowd so that they could have a strong start and a high-end launch by creating a crowdfunding campaign that ends with their ERC20 Tokens getting sold to the public and bootstrapped on the DEX through a crowdfunding IDO. I happen to be working on that in Setheum, providing the High-End LaunchPad (HELP) Protocol to do just that for the projects building/deploying their tokens on Setheum’s SEVM as ERC20 start contracts.
The HELP Protocol has a token of its own called the “High-End LaunchPad — HELP” token, which serves as a utility token for the High-End Protocol. The token is used as a “Submission Deposit” which will be locked in the protocol by the Campaign creator to propose a LaunchPad Campaign until the Campaign is closed, then the HELP tokens are returned to the creator after the project is closed (successful or not).
There are four participants in a High-End LaunchPad, the Campaign Creator, the LaunchPool Liquidity Providers, the Crowdfunding Contributors, and the HighEnd Council.
- HighEnd Council: Approves or Rejects a Campaign;
- LaunchPool Liquidity Providers: Provide Liquidity that is used to Bootstrap the Campaign tokens liquidity pool on the SetSwap DEX, making it tradable on the SetSwap.
- Campaign Creator: The person/team that creates/proposes a new Crowdfunding Campaign, the beneficiary of the raise.
How the HighEnd LaunchPad Works
The HighEnd LaunchPad Protocol lets teams/projects/campaigns achieve two (2) goals at once, it raises money via crowdfunding, and if the crowdfunding campaign is successful then the protocol bootstraps the campaign’s ERC20 token into the SetSwap DEX for the public to trade.
The protocol lets the Campaign Creator choose which currency to pair their tokens to for the bootstrap listing which is also the currency that is to be raised in the crowdfunding campaign. Campaign Creators could choose between the Setheum Currencies (SETM, SERP, DNAR, HELP, SETR, SETUSD), and more could be added with a runtime upgrade.
There is a minimum raise that must be made and that is the softcap, it is required by the protocol and set by the HighEnd Council. The HardCap (Goal) is then set by the Campaign Creator, and the Period (campaign period — amount of blocks a campaign should stay active) is also set by the Campaign Creator.
The Lifecycle of a HELP Campaign
A HighEnd LaunchPad Campaign has three stages in its lifecycle, they are as follows:
- Proposal stage: The first stage is the Proposal stage where a Campaign Creator creates a proposal that proposes to the HighEnd Council to start a HELP Campaign. At this stage, the creator submits a proposal with a SubmissionDeposit that is locked/reserved from the creator’s free-balance (account) into the creator’s reserved-balance whereby they cannot touch/transfer these funds. This will be unlocked immediately if the proposal is rejected, if the proposal passes this will stay locked until the Campaign closes (successful end or not). And in this stage the ERC20 token allocations provided by the creator for the LaunchPool (Bootstrap initial DEX Liquidity) and for the Crowdsales are also locked/reserved in the creator’s reserved account, reserved until when the Campaign Closes.
- Waiting stage: The second stage is the Waiting stage where every Approved Campaign is set to wait for a specified period of time before it is automatically started.
- Active Stage: The third and final stage is the Active stage where every Approved Campaign that has finished its WaitingPeriod is set to go active and start the crowdfunding/crowdsales event. At this stage, if a campaign fails, it is closed and raised funds are refunded to contributors as well as the Campaign allocated ERC20 tokens are also unlocked from the account of the creator. If the campaign closes successfully then the reserved ERC20 Funds are slashed from the reserved account of the creator and distributed/transferred to the beneficiaries (crowdsales contributors, and LaunchPool for DEX Bootstrap liquidity).
After a successful Campaign, the Commissions are all taken from the Raised amount and the `LaunchPoolCommission` is transferred to the `LaunchPool` that sponsors the Bootstrap of the Campaign. Then the `BuyBackCommission` is used to buy back and burn the HELP token. Then the `QMAFlashloanCommission` is used to fund the `QMAFlashloanPool` for the public to enjoy Setheum’s built-in on-chain free and Halal FlashLoans.
All Unclaimed funds (either raised or allocated) will be dissolved to
the `FlashPool` (denoted in the figure below as Treasury) after the
`RetirementPeriod` is reached.
Conclusion
Setheum has a unique approach to the problems facing the space and provides opportunities that incentivize adoption and usability and most importantly because it helps people with a means to survive, thrive and get educated through its public fund (SPF). Setheum has amazing investment opportunities with astonishing usability.
Setheum is the brainchild of a cluster of ideas and challenges that inspire the founding of it. And so with the expected level of equilibrium, security, decentralisation, scalability, efficiency, diversity and adoption, Setheum is set to implement the neom of finance in the Web3 Ecosystem extending hands to the halal consumer market and the Islamic Finance community.
Launching of the Setheum Protocols will take a Phased approach with most of the protocols launching in the Phase 1, and the HELP Protocol + QMA Flashloans launching in the Phase X, and the Al-Ethaar Protocol Launching in the Phase Y
Thank you, and if you find this interesting then like and follow Muhammad-Jibril B.A. (Khalifa MBA) and Setheum Labs for more;
For a good lead, check our website at https://setheum.xyz
