SuperStarter recently announced the upcoming Initial DEX Offering (IDO) for ColdStack, the first project on the launchpad.
As per the announcement, the recently launched launchpad will be holding an IDO for ColdStack on May 10, 2021. All who wish to participate in the event are required to register on the platform. Notably, registration for the IDO whitelist started on May 4 and will run until May.
Elliot Wainmann, Founder of SuperFarm, explained:
“We are excited to be bringing the first project to SuperStarter, our new platform for listing tier-one IDOs. Just as we promised, we focused on quality over quantity and expected ColdStack to become the aggregator for all decentralized storage platforms, with enormous potential to surpass all existing solutions on the market.”
The IDO offers buyers an opportunity to purchase ColdStack’s native token, $CLS. The CLS token will be launched with an initial market capitalization of $737,500 with a 1475000 CLS circulating supply. According to SuperSatrter, there are 50000 $CLS tokens for sale, each priced at $0.50.
Alexander Shishow, CEO of ColdStack, added:
“The IDO marks the beginning of an exciting new era for ColdStack, and we are proud to be making the debut on SuperStarter. With the backing of our investment partners and — most importantly — the community, we are ready to revolutionize decentralized storage.”
The CLS token is currently used to make payments on the platform include fees required to store and retrieve data. CLS tokens are also being used to pay miners to store client data and run ColdStack Nodes. In the coming days, the tokens will be used when signing and authorizing transactions on the platform. The CLS token will also allow holders to participate in the DAO. This will enable them to participate in platform governance, among many other important activities.
ColdStack is a decentralized storage system that provides you with a single-entry point with integrated API and billing. ColdStack provides an open-source Decentralized Cloud Aggregator based on unified Protocol. During its private round saw the participation of numerous investors, including X21, Genblock Capital, Spark Digital Capital, Block Dream Fund, Morningstar Ventures, and JRR Group.
ColdStack, currently on Polkadot’s chachacha parachain testnet, is set to go live on mainnet alongside others on the Polkadot parachain network. The team will reportedly launch the product fully in the last quarter of 2021. During this period, the team will implement Binance Smart Chain (BSC) and EOS on the platform.