Why do you want to build an IDO token launchpad? Do you want to monetize fund-seeking projects, or did you come across an existing problem that you feel you can resolve? The answer to this question will determine your IDO launchpad’s objectives.
Here is a no-frills guide to getting you started. But then, remember – it may not work for everyone. It is compiled from my experience of working closely with a spectrum of IDO projects (during the entirety of 2021). Ensure what suits you the best for IDO token launchpad creation, and implement it.
What is an IDO Token Launchpad?
The IDO, or Initial DEX Offering, is a crowdfunding platform for blockchain initiatives that involve the public issuance of crypto tokens. IDO differs from its predecessors in that its tokens are sold on a decentralized exchange or DEX. IDOs are most well-known for their Defi and privacy efforts, as well as Non-Fungible Tokens (NFTs). For both projects and retail investors can bring distinct benefits and lower entry barriers.
Let’s pretend a project has an IDO. It’s issuing a currency or token through a decentralized liquidity market like Uniswap in that situation. Which primarily aids users in making key decisions on digital assets that are critical to the success of the product or service. This form of exchange is mostly focused on liquidity pools, which allow traders to trade tokens like crypto and stable coins. It isn’t a major problem because the expanding number of decentralized exchanges on the market gives entrepreneurs more options.
En route for An IDO Launchpad..!
Step 1: Get A Launchpad Idea
Successful IDO launchpads (like BSCPad, TrustPad, etc.) become trustworthy upon solving underlying issues. You can’t create an ordinary IDO token launchpad and expect it to perform better, can you?
Look for existing problems in the IDO space and list each one of them. Try to focus on one issue at a time with initial Dex offering token launchpad services, where your requirements will make sense.
Step 2: Validate The Idea
Validation will highlight the level of demand that exists for your launchpad idea. Analyzing the competition is also a crucial element of this step. A thorough examination of your competitor’s launchpad will enable you to determine which elements are missing from their platform and which you can incorporate on your own to make it stand out.
Step 3: Draw User Flows
You may have an idea of the target audience (the project owner) and the target investors. Now, it’s time to put your idea into action – define your ideal features and easy-to-understand use case diagrams. It’s the easiest way to convey to the IDO launchpad development company what needs to be done!
Step 4: Keep it Simple!
Try to trim down the feature list of your IDO token launchpad. Offer only the ‘features’ that resonate with the core idea of the platform. Remember – you can add ‘more’ features through the ‘version’ upgrade that generally happens in the crypto space.
Step 5: Develop
In most cases, the development period begins early on. After an idea has reached a certain level of maturity in the conceptual stage, a functioning prototype is created to validate functionality assumptions and aid in comprehending the scope of work.
Step 6: Testing
Launchpad platform testing is vast. Ensure that your IDO token launchpad platform goes through procedures for usability, compatibility, security, and performance. Once your platform is ready for use, make sure that you accomplish the first version of the launch.
Benefits of Launching An IDO Launchpad
A Viable Business Model
IDO launchpads tend to enjoy an average-to-good return on investment (ROI) as per this report from Crypto Rank. What does this mean, you may wonder? I feel this could open up a potential business opportunity for crypto entrepreneurs. They could mean business along with a well-equipped IDO token launchpad!
To prevent whales and bots from locking out small investors, IDO launchpads normally limit the number of tokens offered. As a result, all investors will have access to a healthy and equitable token.
As soon as a project’s token is released, investors begin trading it. Early token purchasers can sell their tokens for a higher price during the IDO. When the first investor purchases a token, the price of the token begins to fluctuate.
Are You Ready to Plan Yours?
If you’ve been a crypto observer for a long time, you would have seen the business potential of Initial Dex Offering (IDO). With rising technological functionalities, it’s time to plan your IDO token launchpad that caters to multiple niche-based entrepreneurs.
- Remember – stringently vet any project before launching on your platform.
- But wait – let your launchpad development company take care of those!