Swappi, an AMM-based decentralized exchange (DEX) on Conflux, has released a new feature that will allow new projects to launch, fundraise, and seed their communities on Conflux’s eSpace. The new functionality, dubbed Launchpad, would allow projects to execute an Initial Dex Offering (IDO) on Swappi.
Swappi Launchpad allows projects to run IDOs and hold both private and public sales, with predetermined token prices, token allocations, and sale times. Swappi Launchpad is open to all Swappi users, but users who invest Swappi’s native token PPI will get early access through private auctions.
PPI Private Sale
By staking PPI in Swappi Launchpad to earn Launchpad credits before the commencement of the private sale, customers can receive access to a limited private sale token allocation. Users will be able to purchase their share of IDO tokens equal to the number of Launchpad Credits earned once the private sale begins. The more PPI you stake, the more Launchpad Credits you’ll earn, and the more private sale tokens you’ll be able to buy.
The number of private sale project tokens available to Swappi users is determined by Launchpad Credits. The amount of PPI a user staked throughout each IDO’s allocated staking period is used to generate these Launchpad Credits. A Swappi user’s maximum number of private sale IDO tokens is determined by their portion of Launchpad Credits for each IDO private sale. Note that Launchpad Credits are only valid for specific IDOs and cannot be transferred.
PPI Public Sale
On a first-come, first-served basis, Swappi Launchpad allows any user to engage in public sales. Swappi Launchpad users will be able to acquire a limited number of project tokens directly.
IDOs to Watch
Conflux has a number of intriguing initiatives in the works for eSpace, an Ethereum Virtual Machine-compatible smart contract execution environment that allows Conflux developers to install and run Ethereum-native decentralized apps (DApps) and smart contracts.
The first project on Swappi Launchpad to plan its IDO is Aave, a cross-chain loan and borrowing protocol. Depositors will be able to earn passive income by putting their digital assets into an algorithmic liquidity market, which will enable borrowers to obtain loans. The second initiative is a decentralized reserve currency backed by Bitcoin, CFX, and PPI for the burgeoning Conflux ecosystem. Interested projects should submit an application here.