Decentralized launchpad for up-and-coming crypto projects integrates BSC
A digital assets platform that serves as a launchpad for up-and-coming crypto projects has integrated Binance Smart Chain — enabling tokens to be created seamlessly within minutes.
DxSale is a decentralized token management platform, and its application initially launched in late December 2020 on the Ethereum network.
Whereas rivals rely on human verification before startups are given the go-ahead, the organization has chosen to take a different approach by building a trustless application. This is done through smart contracts that work together to remove the risk of fraudulent projects by automatically locking tokens, resulting in an instant gain of trust from their community.
None of this is at the expense of ensuring that only genuine projects are championed. DxSale says that, at present, the crowdsale market has been overshadowed by a number of scam projects — with a handful of bad actors making it difficult for legitimate companies to raise capital. All of this has made it harder for well-meaning entrepreneurs to raise the funds they need to meet their ambitious goals, as investors have become a lot more cautious.
Saving developers time
DxSale says that its status as a first mover on BSC will save developers hours of time — enabling them to list to PancakeSwap automatically through their DAO.
The project has also partnered with Zilliqa and Matic with a view to helping their DeFi ecosystems grow through tools that enable capital to be raised quickly.
Whereas it can take months for some projects to onboard chains to their platforms, DxSale says this process can take place in a matter of minutes. DxSale now intends to partner with more chains so it can build a complete cross-token ecosystem.
To create a compromise between decentralization and quality, a sophisticated governance system has been established that ensures projects that fail to meet DxSale’s high standards are held to account.
A spokesperson told Cointelegraph: “DxSale.network’s vision is to bring the highest user experience to the token journey. This is not limited to Launchpad, but also brings in other services that enhance the experience of token management for businesses. These services will save time, effort, cost and easily allow them to provide one-click features to their token holders as they begin their journey within the cryptocurrency space."
High levels of customizability
DxSale’s main goal is to reimagine a venture capital ecosystem that’s worth an estimated $131 billion — with blockchain at the heart of its offering. Although the ICO boom of 2017 enabled anyone to become an angel investor, irrespective of their background or where they lived, the craze was stymied by scammers who saw an opportunity to launch sham projects with minimal effort. Worse still, in some cases, money was mismanaged.
Although several exchanges and IDO projects have created launchpads of their own in recent months, DxSale argues this often results in unacceptable levels of centralized control because their requirements generate high barriers of entry for all involved.
DxSale wants to create the best of both worlds — combining the advantages of IDOs and exchange-driven launchpads while eliminating the downsides. Key principles include the removal of Know Your Customer checks and a permissionless, decentralized atmosphere… as well as high levels of reliability. The project’s new standard is described as Decentralized Crypto Venture Capital Funding, or DCVCF for short.
“We will partner with other decentralized exchanges lacking a launchpad that would be interested in adopting this standard. The goal of DxSale is to create a new, better standard that will minimize bad projects and scams — and help evolve the reputation and maturity of the crypto industry,” a recent Medium blog post added.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.