Making decentralized fundraising accessible to all
StarkNet was created by StarkWare that’s raised $173 million in funding. It uses zero knowledge (ZK) rollup technology to solve Ethereum’s scaling problem. A number of major crypto players, including Alchemy and Immutable X, are already using it.
Introducing ZkPad
ZkPad is the first launchpad and incubator on StarkNet. The platform offers a safe and decentralized way for users to invest in pre-selected crypto startups.
The team wants to bring a new quality standard in launchpad for all the actors of the Web3 ecosystem. According to ZkPad Whitepaper v1.0, they came up with new mechanisms that will drastically improve the operation way compared to already existing launchpads. The team is focusing on decentralization and long term commitment to the projects they back.
Key features
- Tokenized whitelist
For each project listed on ZKPad, ZKP token stackers will receive whitelist right as NFTs. These NFTs can either give users the right to invest in IDOs on ZKPad or can be resold to another investor.
- On-chain lottery system
Most launchpads have an unclear off-chain lottery system to determine the whitelisted investors. For more transparency, we’ve decided to implement this mechanism completely on-chain.
- Managed market making
Managing the market making of the tokens for each project will allow us to control the front-running and eventual “pump and dumps” at the token listing. We opted for to a fixed swap pool system.
- Optimized staking rewards
Staking your ZKP tokens will provide you with a boosted yield. This will be achieved by leveraging Defi protocols on our vaults.
Conclusion
ZkPad introduced innovative features which have never been seen before on any other launchpad. This makes it one of the most exciting projects to look forward to in 2022.
The project looks very strong and can become the breakthrough on Starknet. Whether this is the next crypto Gem, we will find out soon. In the meantime we can closely follow ZkPad on Twitter to see latest news and join their Discord to get in touch with the community.
