A few days ago, it created much excitement among the crypto community when Tron announced the first native IDO platform on Tron Network with guidance from the first BSC IDO platform, BSCPad. This partnership quickly ended up gaining a high volume of traction since through this entity, BSCPad, the largest BSC network-based IDO platform, and Tron, one of the largest and most popular blockchain protocols, were coming together for the first time. Here, we delve deeper into the collaboration to understand why this partnership could become a game-changing development.
What is Tronpad?
So far, Tronpad is the only IDO platform built on the world’s fastest-growing public chain, Tron. It has appeared in the IDO scene with the promise of facilitating crypto projects to distribute their tokens and raise liquidity in an all-inclusive way. Other launchpads often end up incentivizing only the top 1% of the token holders. Tronpad wants to do away with these fallacies and aims at benefiting all holders, negating the scope of manipulations and bots. It works with a simple functional and secure design that will empower fair decentralized launches for all its projects. The collaboration will help it amplify its capabilities as BSCpad already has proven its mettle as a pioneering launchpad solution.
The Features and Benefits Tronpad
When it comes to the functioning of many existing launchpads, they fail in providing equitable access to tokens that would prove enough for its holders to ensure their participation in the ecosystem. Automated bots fill the whitelist spots in seconds.
Tronpad combats this issue by making the system fair and decentralized in the true sense of the term. It operates through a two-tier system. One tier consists of an open public lottery that ensures participation for the lower levels and a guaranteed allocation for the higher levels. It does not require the holding of tokens for participation in the open public lottery. On the next tier, allocations not bought in time go up for offer on a ‘first come first serve basis.
In terms of percentage allocations, 5% of each project’s overall IDO offering goes towards public white list lotteries. This allocation is open to anyone completing tasks and does not require holding tokens.
25% of the overall IDO offering goes in lottery tiers. There are two lottery tiers on Tronpad: earth tier and moon tier. The staking requirement in the Earth tier is 15,000 Tronpad tokens, equivalent to one lottery ticket, whereas the moon tier requires the staking of 50,000 Tronpad tokens, equivalent to four lottery tickets. Both the tiers have the same staking length requirement of 3 hours before the allocation round opens.
The rest 70% of the IDO offering goes into guaranteed allocation tiers. It is known as the Mars tier. Here the staking requirement is that of 200,000 Tronpad tokens, resulting in one guaranteed allocation. The requirement for the staking length remains the same.
Once the public white list lottery tier, the lottery tiers, and the guaranteed allocation tier are over, Tronpad moves into the second round. Here, the unsold tokens go up for distribution on a first come first serve basis. A tier-based formula determines how much of an additional amount a tiered member can purchase. The round stays open until all tokens are sold. On average, it takes a few minutes.
A Robust Ecosystem
Tronpad has a robust ecosystem comprising its strategic partner Tron, incubator and investment partner BlueZilla, and legal partner SilkLegal. Once Tronpad completes its launch on Justswap, finalizes its Bridge with the BSC, and launches staking, it will be all set for its first IDO.
While Tronpad’s tiered set-up offers traders of all sizes the opportunity to invest, it also gives the project a chance to reach out to a diversified set of potential investors. In that sense, Tronpad is trending for all the correct reasons as it brings true fairness and decentralization to IDOs.