BlueZilla Labs is best known for backing some of the most popular projects in the crypto industry early on. DOTPad will join the club that features industry pioneers like BSCPad, TronPad, ETHPad, ADAPad, and VelasPad.
The project is gearing up for its IDO, the dates of which are yet to be announced. Here is a detailed look at DOTPad.
What is DOTPad
DOTPad will be the first deflationary launchpad for Substrate, Kusama, Polkadot, Acala, and Moonbeam ecosystems. According to the website, it provides a unified crowdfunding platform for all things Substrate, giving upcoming projects a means to bootstrap development, grow user base, and fast-track development.
Who can launch on DOTPad
DOTPad supports four types of projects primarily. Layer 1 chains, that is, projects that are planning to build their own blockchains on Substrate, belong to the first category. The next Kusama or Polkadot so to say. Upcoming parachain projects with promising visions are next. Acclaimed projects that are looking to host their DApps and infrastructure on a pre-existing parachain across Polkadot or Kusama come third. And finally, projects that provide supporting infrastructure to extend, augment, or open up the functionality of Polkadot, Kusama, or general Substrate ecosystems.
Key highlights of DOTPad
- DOTPad is dedicated to the Substrate ecosystem, which is touted as a framework for building third-generation blockchains. Although relatively new to the market, it is preferred by many projects and developers for its feasibility. The ecosystem is fast growing. Since Substrate supports DeFi, Smart Contracts, IoT, and gaming projects, DOTPad is expected to feature a diverse portfolio.
- Substrate projects surpass the interoperability problem to a great extent in a cross-chain landscape. It’s easier for projects to connect to different blockchains in the ecosystem.
- Kusama and Polkadot projects harness the shared security of the relay chain. This gives them a robust base.
- DOTPad has partnered with Master Ventures’ Dot Fund to maximize opportunities and exposure for DOTPad participants.
- As per the website, DOTPad has a diligent vetting process that takes factors like team strength, development status, previous experience, and competitive advantage into account.
$DPAD is the native token of the DOTPad ecosystem. As mentioned above, the project is deflationary to scale sustainable growth in the long run. The main deflationary mechanisms of the platform include a 10% fee on all token sales (sell orders) and early unstaking fees of up to 25%. There will be no unstaking fees after 21 days of staking. 7.5% of the fees will be rewarded to stakers and 2.5% will be burned forever.
According to the latest announcements, $DPAD IDO has been postponed until February. It will launch with a low initial market cap of $290,000. Whitelisted IDO participants should complete KYC and stake $DPAD at least three hours before the IDO.
Launchpads are integral to the growth of a relatively new industry like blockchain. BlueZilla’s long line-up of launchpads dedicated to unique ecosystems have a reputation for introducing some successful projects to the market. DOTPad taps into BlueZilla’s industry expertise and Substrate’s growing ecosystem to present a promising vision that is worth keeping an eye on.
DISCLAIMER: Not financial advice.