What is a Cryptocurrency Launchpad?
A cryptocurrency launchpad is a platform that helps startups launch their cryptocurrency and blockchain projects. Launchpads are usually web applications that provide the necessary tools, resources, and support needed to get projects from funding to listing on a decentralized exchange (DEX).
Some of the functions and features of popular launchpads include:
- Getting projects in front of crypto communities and blockchain enthusiasts
- Mechanisms to help projects raise funds through token presales
- Technical support
- Marketing and promotional support
- Contract auditing
- Token minting
Launchpads are also known as cryptocurrency incubators and IDO (Initial DEX Offering) Platforms.
A Deeper Look at Cryptocurrency Launchpads
Most cryptocurrency launchpads are open to everyone, allowing anyone to create, fund, and launch their own cryptocurrency project. All that is needed is for the project team members to go through the required application process, which is usually automated.
Launchpads like PinkSale and CookieSale allow users to create/mint their own tokens and start their token presales in minutes with no development experience needed. Some launchpads also offer KYC and auditing features to help projects build trust among their potential investors; however, this is not mandatory. The goal of these launchpads is to help get cryptocurrency projects up and running in the most efficient way possible.
Launchpads can also be beneficial to investors as well. These platforms are a great way for persons to invest in projects during the early stages before they are listed on exchanges. This early-stage access means that investors can buy tokens at a lower price before the project is officially launched to the public.
Some of the most popular launchpads include PinkSale, CookieSale, Binance Launchpad, TrustSwap, DxSale, and Unicrypt.
However, because launchpads make it so easy to create and launch projects, many scams have made their way onto these platforms. The rise in cryptocurrency launchpads has led to an increase in crypto scams. Statistics show that scams have risen by 30% in 2021 compared to the year prior.
← Back to Dictionary
