Polkapad Platform

Launchpad For Polkadot Projects: How This Works

If you’re reading this, it’s safe to assume that you are familiar with the story and modus operandi of the Polkadot ecosystem. Our Polkapad forms one unit within our expansive universe and we have dedicated this article to explaining how it works.

What’s a Launchpad? – A Simple Explanation

A launchpad, also referred to as a “Launch Platform” is a digitally-based infrastructure enabling users to find and join the best startups in a network. In other words, it is a community-building tool.

With regards to blockchain projects, launchpads enjoy the security and efficiency of a trustless, distributed framework – protection from corruption risks, forced shutdowns, and security breaches.

Why Would You Need a Launchpad?

Launchpads are very beneficial for entrepreneurs. They provide infrastructure and potential audiences for their projects. You don’t have to build infrastructure around your pitch from scratch, and you can see how the community reacts to your idea. You are using an established marketplace, thus limiting your expenditures on marketing. You can compare Launchpad to the Agora in Ancient Greece – a place where one could trade goods or make a public speech.

Typical Launchpad structure. Source: Polkapad Whitepaper, fig. 3

Like with Agora, Launchpads also provide community support right from the earliest stages of your project.

Types of Launchpads

Talking about it really needs a series of separate articles, containing a bunch of awfully complex terms such as ‘DAO’, ‘layers of communication’, ‘XCMP’ etc. We aim to build a sort of Borgesian library of blockchain in time, but we can’t get into minute details here. So we will give you essentials about 3 existing types of Launchpads:

  1. 1. Stand-alone (AKA community first): This launchpad is designed for projects with an existing community presence.
  2. 2. Industry-specific: In short, such Launchpad allows the creation of new blockchains through funding from investors.
  3. 3. Monochain: This type of Launchpad helps developers to build projects which are extensions of the existing core chain.

What Makes Polkapad Different from Other Launchpads?

At the end of the short 1995 Batman comic story “Should Old Acquaintances Be Forgot?” The Caped Crusader and Commissioner Gordon have a sit down in a diner contemplating their most recent dangerous encounter with Joker. ‘Close one this time’, Gordon tells his buddy. ‘They’re all close ones’, Batman parries.

Well, that’s exactly the issue with most launchpads. They are all close ones. They always promise to deliver, but never quite manage to pull through in the end.

One of the major issues surrounding existing crypto launchpads is the disproportionate accumulation of ownership. In most allocations top 100-300 users hold from 80 to 98% of all stakes (and less than 600 can participate at all). That’s both economically unjust and technologically inefficient. Such distribution barely responds to the needs of network decentralization.

On the Polkapad platform, every participant has a power metric. The bigger it is the more allocation the user gets. The platform has a set of policies and incentives (it’s a very long list), and the ultimate goal is to create benefits for those holding stakes — the longer users hold stakes, the greater their allocation.

Schematic explanation of how the power metric thing works. Source: Polkapad Whitepaper, fig. 10

In the end, the Polkapad staking solution is beneficial for both creators and community members. The former gets a community that keeps the project’s interests at heart, while the latter gets dedicated developers who seek to work on projects long-term.

This will result in the influx of new users and creators to the platform, to the benefit of all parties.

Polkapad token distribution model. Source: Polkapad Whitepaper, fig. 14

The best way to describe the operational usability of Polkapad is to use the much-hyped word “multiverse”. Your project becomes available to people worlds away from you! That dramatically increases your audience-building opportunities.

Since Polkapad builds on a big Polkadot community, including devoted fans with established backgrounds in crypto and blockchain (such as Ethereum co-founder Gavin Wood), you start on a strong foot. As of now, Polkapad platform offers you a huge active community to help you develop your products and scale up your dApp.

 Schematic description of the Polkapad ecosystem. Source: Polkapad Whitepaper, fig. 6

Your community benefits from money saved on implementing a marketing campaign. Polkapad will relieve you of much of your marketing costs, leaving you with some spare change to spend on boosting the engagement of your existing community. Why spend $30 on Google Ads promotion when you can simply offer it directly to your future user? 

Polkapad helps to make this transaction secure:

  • – Community of real users (no multi-accounts, fake documents, etc) 
  • – Community of active blockchain users
  • – Community of users interested in your project.

If you have a project or dApp that you are looking to launch, you can contact us by writing to this email: hello@polkapad.network

Send us your request, tell us about your project, and find out the details.

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• Apply a Project

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