Initial offerings were developed as a feature to help companies raise money by offering shares of their company. Such little corporate stakes served as the foundation for the entire financial system underlying equities. Later, cryptocurrencies appeared when blockchain technology sought to enter the financial industry in response to problems with traditional banking. Startup enthusiasts considered blockchains for their businesses as blockchains found new applications. New initial offering types were created with criteria that allowed them to be used in the crypto world when it comes to raising money. Initial DEX offerings, initial exchange offerings, and initial coin offerings (ICO) were among them (IDO). These were all created in the same order to address the issues that their predecessors had.
The platforms that made it possible to host these campaigns came along with IDOs. These were referred to as IDO launchpads, and blockchain networks are full with them. We will learn more about creating an IDO launchpad and some well-liked blockchains among IDO launchpad companies in this article.
Details of IDO Launchpads
A platform called Initial DEX Offering launchpad helps projects based on cryptocurrencies raise money.
DAOMaker (which runs on Ethereum), BSCPad (which runs on Binance Smart Chain), and Solanium are some of the most significant IDO launchpads at the moment (Works on Solana).
IEOs and ICOs, which were used in several frauds and rug pulls, have issues that led to the development of IDOs.
The technique makes use of the assets’ decentralized exchange, which allows for the creation of a crowdfunding platform without the need for a middleman.
IDOs have some advantages over past capital-raising methods, including the ability to trade fast, having immediate liquidity, and a transparent and equitable procedure.
The first IDO campaign was held in June 2019 by Raven Protocol, a business that strives to simplify complex computing processes by breaking them down into simpler steps.
Most IDOs have a smaller beginning cap level, which means that even if the project increases by 100x, the overall market cap would not be as high so that investors would not sell all at once, creating a spiraling effect. This is why IDOs are supported.
Projects are also being launched on a variety of launchpads, indicating that business owners want to engage with other blockchains and draw in additional investors. Additionally, from the perspective of an investor, these projects are legitimate since automated smart contracts have verified them before adding them to the decentralized exchange.
How to Create an IDO Launchpad
As with every notion, this one too must first be explored. Consider your idea, make a thorough plan, and identify what you need in order to move forward. This includes choosing the blockchain that would serve as your foundation.
Consider how the whitepaper will represent your company to the world as part of your IDO launchpad. A strong whitepaper might be important in the success of any business enterprise.
You have the option of IDO launchpad development from from or modifying an already-made solution. This depends on your technical preferences and how quickly you need to be operational.
The next step is to create tokens for your launchpad. Here, you should choose the characteristics that your tokens should have.
IDO Launchpads on Well-Known Blockchains
Over 90% of all global transactions for blockchain-based apps take place on Ethereum, making it the blockchain industry’s mythical currency.
Smart Chain for Binance (BSC)
Parallel to the Binance blockchain, the Binance Smart Chain (BSC) borrows all the beneficial aspects of the main chain.
Its rivalry with Ethereum is evident in IDO launchpads development as well, as the chain contains the second-highest production volume of IDO tokens, only behind Ethereum.
The Ethereum blockchain’s layer-2 Polygon protocol, formerly known as Matic, aims to solve the issues with gas prices and transaction speeds.
IDO launchpads operating on Polygon can benefit from the best of both worlds, allowing them to operate effectively and potentially attract a larger investor base for the projects they host.
You may have gained a rudimentary grasp of IDO launchpads. The procedure involved in creating them as you read this blog. it’s advisable to contact a professional business that specializes in blockchain-related software.