With Solana riding the wave of rising popularity, there is a pressing demand for the IDO platform that is based on the Solana Blockchain
IDO platforms have been steadily gaining popularity over the last year. The main point of attraction that people find in IDO platforms is the ease of use. IDO platforms in essence are the gateway for retail investors to get in the early stages of a project’s development. They mostly work by the fairly established system of “Rounds”. Each round represents a separate sale stage with different conditions and rules for participation. By and large, rounds on IDO platforms look similar to this structure: Community Round, Private Round, and Public Round. There are, however, distinguishing and unique to platform constituents that can be added in order to stand out. It can range from being a simple additional round that incentivizes people to buy platform-specific tokens or an entirely new and creative way of structuring IDO.
The majority of IDO platforms currently available on the market are operating in the realms of two blockchains: Binance Smart Chain and Ethereum Network. With Solana riding the wave of rising popularity, there is a more pressing demand for the IDO platform that is based on the Solana blockchain. Before delving deeper into the available platforms, let’s take a peek at what is so enticing about Solana through the lens of current market conditions.
Solana is one of the leading solutions currently available on the market. There are a couple of reasons for that.
Solana is scalable. Scalability is an aspect that is achieved through blood and sweat in crypto. To attain a certain level of scalability that doesn’t overstep the foundational grounds of decentralization, is a challenging task even for the behemoths of the industry like Ethereum. Therefore tackling scalability in the right way is in and of itself an ordeal. Luckily, Solana introduces a new, conceptually unique feature called PoH (Proof of History). PoH works by measuring the passage of time between hash executions. In this way, it is possible to not only curtail the time for a transaction to get verified but also mitigates the overall encumbrance of the network, alleviating congestion of it, and helps to scale it almost indefinitely.
Inherently decentralized, and trustless. Solana is built upon the foundations of ETH and BTC ideals thus following in their steps to deliver full privacy and decentralized aspects into its network.
Absconds an obsolete PoW consensus and embraces the irrefutable advantages of PoS. Solana’s PoS works similarly to the orthodox PoS blockchains. This type of governance is partly or fully reliant on the vote of the majority in this case its validators. Solana has a long list of validators that are able to vote for particular changes by delegating votes.
Now that we see the importance and value that Solana brings to the table, it’s time to dig into IDO platforms that are currently flourishing on the network.
For the up-and-coming retail investors, the idea of IDO might bear a tinge of unreliability. Fortunately, with an established and more matured crypto market, IDO platforms instead represent a more reliable option for retail investors to get into the project earlier than it has ever before been possible. So what choice do we have coming into this precipice of crypto?
Boca Chica
HAPI-owned Boca Chica platform will be one of the main launchpads for new Solana-based projects. The idea behind Boca Chica is simple – foster the growth of up-and-coming Solana-based projects with a unique approach. This is achieved in several steps. Firstly, projects on the Boca Chica platform will have a direct connection to the largest investors in the industry. Secondly, the best projects from the recent Solana Hackathon will be featured on the platform to give them as much exposure as possible.
There is also a swath of benefits for the retail investors willing to get on board early. Investors won’t need to stake or hold any platform-specific tokens in order to join the rounds. Instead, all that is needed is to take part in the Solana staking reward system which requires you to stake Solana with Validators. By doing so you will be getting both Solana coins as well as Boca Chica tickets with the ratio 1:1.
This kind of approach is beneficial because it allows for token-less IDO participation which can be quite bothersome especially with how prevalent this type of platform has become.
Another distinguishing feature of Boca Chica is its tight incorporation into HAPI. With Boca Chica, the HAPI token also boasts added utility case namely a separate Round on the platform that allows HAPI holders to partake in the IDO.
Let’s look at all of the rounds on Boca Chica to better illustrate the structure:
- HAPI Round. The First and Exclusive Round for HAPI holders
- Private Round. Reserved mainly for large investors and Venture Capitals.
- Lottery. The Lottery Round will be explained in greater detail in the next article. It will function more as a community round that will allow everyone to join via whitelisting.
- IDO (Public) Round. Listing on Solana DEX platform
Solanium
Solanium is a relatively new Launchpad platform on Solana. Despite its recent emergence on the scene, Solanium sets out to implement a plethora of useful functionalities and freshen up the rooted norms of IDO conducting. In essence, though, Solanium is very much alike to the general qualities of IDO platforms: decentralized fundraising, time-weighted token staking, and governance voting.
The stand-out quality of Solanium is, however, a shift of the focus on user experience and making Solanium more than just an IDO platform. Solanium makes an attempt to become an all-in-one place for everything Solana-based or related for that matter. With a sleek UI/UX, Solanium does jut out from the sea of similarities.
They are planning to include wallet integration, DEX, and transaction management, all in one platform.
- Great UI/UX and user-friendliness being the focal point
- Time-weighted token staking and governance voting
- Full integration within Solana (allegedly)
- Fully decentralized Platform
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