IoTeX joins hands with LaunchZone to release a new launchpad for upcoming IDOs (Initial DEX Offerings.) LaunchZone has assisted numerous IDOs in gathering necessary funds on Binance Smart Chain. Its reach spreads across thousands of investors globally willing to access promising ventures at a moment’s notice.
The latest collaboration will see LaunchZone releasing its DeFi launchpad and products on the IoTeX network. IoTeX previously announced the Cambrian Explosion during its Mainnet 1.2 version launch. LaunchZone joins the list of esteemed platforms coming to IoteX, offering industry-leading tools for new projects.
IoTeX helping new ventures garner funds directly from its community will be one of the pillars of IoTeX’s new project launch playbook. Here is an overview of how it works:
Halo offering Funding Development: IoTeX provides 10% of its IOTX supply (50m+ dollars) to the halo Grants program. It provides funds for kickstart development for upcoming projects.
LaunchZone offering Crowdfunding: After getting initial funds from Halo, projects will get an MVP. The next step revolves around gathering funds from crowdfund or seed investors in the IoTeX community.
Mimo offering Bootstrapping Liquidity: Mimo helps projects attract new clients, investors, and customers without using centralized exchanges.
Yield Farms offering Incentivizing Growth: The projects can spread awareness and gain liquidity through yield farms. Some of the names are Firebird, MagicLand, and ZoomSwap, which have expanded the reach of countless newborn projects.
Adding LaunchZone to the portfolio helps IoTeX appeal to upcoming projects. LaunchZone has formulated a long line of DeFi products that help crypto-based startups find liquidity and funds. Besides the launchpad, LaunchZone also offers LZ Pool, LZ Wallet, and LZ Swap.
Some of the upcoming projects on IoTeX mimo, pebble GO, HealthBlocks, and many more. The addition of LaunchPad will help IoTeX achieve its goal of reaching 100+ Dapps on the platform.