The cryptocurrency industry has been gaining attention in recent times, and it is expanding massively. With this expansion comes the birthing of several new tokens. Research revealed a total of 7,500 different tokens as of November 2021. And the launching of new projects is a continuous move which has not declined ever since, can you imagine the numbers we have now? (A hint: One million new tokens were launched on Solana since April this year!)

Launchpad, as its name implies is a base or structure that helps a take-off, it could even propel a good headstart. In the same way, a crypto launchpad is a platform that aids take-off for early cryptocurrency projects. The cryptocurrency network is well known for raising capital from investors by some preset conditions or requirements. However, with the high rise of coins in the crypto network also comes high scam occurrences. For this cause, trusted launchpads can be relied upon when a new token is developed.

The cryptocurrency launchpad is a decentralized exchange (DEX) platform that helps new crypto project developers introduce their projects to potential investors. One amazing thing about Launchpads in cryptocurrency is that it is a win-win situation for investors and developers. It is a platform where new project developers are connected with eager investors. The developers can make their money –capital and the investors also make their money back –return on investments. While crypto launchpads allow developers to fundraise for their projects, they also provide investors early-stage deals access. The early-stage deals are, the opportunity the investors get to sell their coins before it is publicly launched to the market.

How Does a Crypto Launchpad Work?

Cryptocurrency Launchpads operate on two major factors, which are security and transparency. These factors genuinely are the main attractant for potential investors. Once a user creates an account, to verify their information and secure their assets, a Know-Your-Customer (KYC) procedure is implemented on the account. This process is to enable transparency and security, as it mitigates manipulators who intend to use several identities to make transactions on the platform.

Crypto launchpads are in varieties and are unique to the type of project picked. The launchpads provide all the essential information investors may need on an early project and its launching. This information includes the project's current status, start date, launch date, etc. The types of Launchpads in cryptocurrency include:

DEX Initial Offering (IDO) Launch Pads: The Launching pads for IDO include, BSC Pads, GameFi, Seedify, Trust Pad, and Fire Starter. They make crowdfunding possible on the blockchain by connecting traders with buyers. Tokens are represented by kisted assets and are traded on a distributed exchange pattern.
NFT Initial Offering Launch Platforms: With the INO launchpads, investors fund projects by trading pools of NFTs. The examples of these launchpads are BSCE station, Seedify, and Only1.
Initial Coin Offering (ICO): This launchpad allows new projects to trade tokens to potential investors to support their fundraising course. ICO launchpads that are well known include CArd Starter, Podka Starter, and Binance Launchpads.
Initial Game Offering Launch Platforms: IGO launchpads provide fundraising support for metaverses and game creators for their new projects. They offer gaming utilities, IGOs, and complementary NFTs. Examples of IGO launchpads are Enjin Starter, Play Pad, and Game Starter.

Are Crypto Launch Pads Profitable?

Apart from the profitable move of connecting new project developers with potential investors, crypto launchpads are also beneficial in the following areas;

Beginner Friendly: Most launch pads in crypto are easy to understand with no complex restrictions. This makes it accessible to a wide range of developers and investors.
Low Fees: Various launchpads charge relatively small amounts for listings, while others don’t charge at all.
No Waiting Period: The tokens purchased on launchpad platforms are accessible to the buyer immediately. It does not require any period of waiting.
Security: Launchpads properly evaluates developers and their projects, as well as the users. This vetting process ensures secure transactions and mitigates breaches.

Conclusion

The crypto launchpads have become the run-to refuge for new project developers. Not only does it give access to funding and connection for these new projects, it also creates the necessary awareness of the token promoting early adoption, and propelling the new project to its market success.