SolanaPrime IDO Due Diligence Reports Explained
SolanaPrime is the primary market gateway and accelerator for the next generation of DeFi, GameFi, and Metaverse dApps on the Solana ecosystem. Through our $PRIME token, stakers receive access to top-tier IDOs hosted on our launchpad and $SPIX token rewards, exposing stakers to the cumulative value of all SolanaPrime projects. Before staking and gaining access to the IDOs, we provide stakers with a concise explanation of the project.
The overview gives a general understanding of the project, providing crucial information about security, transparency, project trust, community good faith, and other decisive parameters. Our due diligence report features a point system, the SolanaPrime scorecard, allowing $PRIME stakers to gauge a project’s performance based on our straightforward model.
A prerequisite for every IDO
Due diligence reports reveal the overall status of projects before their IDOs are live. They highlight the following areas:
Description and Key Features
The description and key features explain the project in brief; it enables our stakers to understand the project functionality. Consider a proposed gaming dApp; our due diligence report would begin with a brief game description highlighting its premise, explaining the game type, mentioning compatible OS, and other fundamentals. $PRIME stakers can then assess the product’s appeal before the IDO.
Token Utility
Tokenomics determines a project’s profitability. IDO participants require transparency on token utility, with a logical explanation of token earning, generation, use cases, and growth within the project’s ecosystem. For governance or payment of various fees on the platform, token utility influences IDO decision-making.
The tokenomics setup also reveals the mission behind the project. From the tokenomics, $PRIME stakers can assess:
- Project trust
- Transparency (from token allocations)
- Project governance (how token holders influence decision-making)
The Scorecard
Our scorecard metrics are generated based on our proprietary IDO scoring system using the information provided by the respective projects in our Enhanced Due Diligence form (score of 1 to 5). The scorecard ranks the:
- Team
We consider the qualifications and experience of the entire team behind a project. Our score depends on the verifiable and high-level track record of team members in successful companies before they joined or established the project.
- Technology
Our technology assessment is not a comparison with other existing platforms, and we explain the technology and to whom it best suits.
- Product
We provide a product description, its core services, and interactions within the ecosystem.
- Tokenomics
The due diligence report highlights various parameters about funding, allocation, and token utility.
- Legal framework
Information on the country of establishment, AML & KYC proceedings, and legal disclaimers are carefully assessed in the legal framework to establish project transparency and community good faith.
These five attributes support the overall score on our Due Diligence scorecard. We also assess other in-project features such as marketplaces and roadmaps.
The scorecard is our assessment of each project listed on SolanaPrime. We report unbiasedly on these core aspects, highlighting the positives and drawbacks of the proposals we assess.
Stay Tuned for the Next SolanaPrime IDO!
Solana Prime is the gateway and accelerator for the next generation of Web3 solutions; we attract futuristic projects with novel solutions to problems in blockchain and the mainstream market. $PRIME stakers gain access to support these solutions from the ground before their inevitable success.
Stay tuned for updates on future IDOs, SolanaPrime development, and other exciting progress. Head over to SolanaPrime to start your prime journey!
Join any of our social channels to keep posted on our advancements. Interested projects can apply for their launchpad application here.
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