SkyLaunch Solutions: Quality Over Quantity
SkyLaunch dual-layer due diligence will ensure only quality projects reach the IDO stage, creating greater investor safety
The next problem on the SkyLaunch solutions list is going to have incredibly positive ramifications for projects and investors alike. The rapid growth of crypto and DeFi in recent months and years has been the catalyst for a huge increase in both the number of projects and the number of launchpads. Adding an unfortunate hint of negativity to this, it’s also seen an increase in the number of scams and poorly managed projects entering the space.
Hype and shilling tactics have become the norm, and in spite of the obvious lack of real use, memecoins (there is a more common term but it’s not suitable for an article like this!) have somehow become insanely popular, with investors and traders either willing to take huge risks, or simply being oblivious to the fact they are taking them.
Scams and Rugpulls
It has to be said that not every one of these projects is a scam or a rugpull — a project that gathers initial investment and then dumps the market, effectively ‘pulling the rug out’ from under the project, causing a collapse — unfortunately the numbers are increasing, with investor risk mirroring that trend. These projects build themselves up through incredibly aggressive marketing, usually creating as much hype as possible by shilling their projects on every available platform. This, in turn, results in pressure on launchpads to launch these projects, simply because they can see the money to be made from the anticipated explosion.
There is another selection of projects that fail after initial launch, with absolutely good intentions. These are projects often with incredible promise, that are launched without careful consideration as to whether they are ready, or have the tools and infrastructure in place to survive, let alone thrive. There is no ill intention here, simply mere oversight, miscalculation and occasional naivety. This is very often an even more bitter pill to swallow than a scam, simply because the difference between success and failure has come down to a simple mistake or error of judgement.
The SkyLaunch Solution: Dual-Layer Due Diligence
Now while there is no way to 100% guarantee a projects success, any project taken on for IDO through SkyLaunch, will be closer to it than ever before. We have tools and teams in place to not only weed out the scams, fakes and rugpulls, but also to detect the fantastic early stage projects that need a little extra care, and get them to where they need to be.
All SkyLaunch IDO applicants will undergo two stages of rigorous investigation, research and assessment before being accepted for IDO. This process will allow our teams of expert project analysts to not only discover and reject the projects that don’t meet our criteria, but also detect the high-quality, promising projects that are simply not quite ready yet. The importance of this part comes down to a feature we will talk about in our next solution article, the SkyLaunch Pre-IDO Incubator Programme.
Institutional Due Diligence
This is stage one of the assessment process, involving project investigation and research conducted by both an internal analysis team, as well as an external panel of venture capital firms.
This will involve deep dives into the projects themselves, whitepapers, team members and infrastructure, followed by opening dialogue with key project members to discuss marketing and growth plans, roadmaps and tokenomics. You, our investors, are the cornerstone of SkyLaunch, so we will leave no stone unturned to ensure we are taking on and launching legitimate, quality projects.
Independent Council Vote
Once we have seen enough promise in a project to pass it through stage one, it will move onto the independent council we are assembling.
This council comprises ten (although this is under discussion for expansion) members of industry experts from all areas of the space, who will be tasked with a final assessment and vote on projects. This vote will decide whether they will be passed for IDO, rejected, or moved to our pre-IDO Incubator for further development.
Investor Security is of Paramount Importance
I hope the above solution illustrates just how important the financial safety of our investors is to us. This is just the beginning, and we are constantly exploring methods to further increase the security and peace of mind you can find when investing in a SkyLaunch IDO.
SkyLaunch is a first in the IDO marketplace; the only platform in this area to offer complete project timeline support, in addition to a number of groundbreaking proprietary tools. We support new projects with an accelerator programme of pre-IDO services, combined with an independent industry leading governance council, as well as a post-IDO alliance support network to nurture and grow new blockchain projects.
Stay tuned in to our channels for more info regarding our own IDO, allowing us to generate and distribute the SkyLaunch native token; $SKYFI. The token serves a multitude of purposes, including governance capabilities, staking opportunities, liquidity rewards, and allocation mining. The token benefits even extend into discounts on our premium features. For more information, check out our future posts.
Learn more about SkyLaunch on our website.