Current Launchpads' Problems
Last updated
Last updated
Solana's growth is accelerating rapidly, yet existing launchpads are encountering persistent issues that hinder user participation in Initial DEX Offerings (IDOs).
Current launchpads predominantly utilize a token-based model, requiring users to purchase and stake native tokens to qualify for registration and participation in IDOs. Here are some figures:
Solanium
35$
Oxbull
70$
BSCS
165$
DAO Maker
432$
Seedify
Users have to spend at least $35 just to register for an IDO
Furthermore, this model also create many barriers:
Launchpads are often built on complex smart contract systems which, if not rigorously vetted, can contain vulnerabilities. These vulnerabilities might be exploited by malicious actors, leading to significant financial losses for investors and damage to the credibility of the platform.
Staking native tokens on cryptocurrency launchpads exposes users to the risk of price drops, particularly when these tokens are sold off en masse following a launch event. This widespread sell-off can lead to a decrease in the token's value, adversely affecting all holders.
In traditional model launchpads, only large-scale stakers, known as "whales", typically receive allocations. Additionally, they often deploy bots capable of executing trades at speeds unattainable by average investors, which not only creates an unfair competitive edge but also poses risks of potential price manipulation.
Despite Solana's community-driven ecosystem, many existing launchpads still mandate token staking for participation, presenting obstacles for those who wish to support new projects without immobilizing their assets. This requirement often contradicts the principles of open and equitable access fundamental to blockchain communities.
To address these issues, we have developed KyuPad—a community-based launchpad on Solana that aims to provide fair and accessible project engagement opportunities.
