0xPad – Decentralized Seed Funding with Tiered Mechanisms

The protocol proposes equality for investors in terms of joining new IDOs and gaining access to seed funding for up-and-coming projects.

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Introducing 0xPad

0xPad is a decentralized incubator protocol and multichain launchpad. According to their website, one of their main features is decentralizing seed funding that lets users invest in promising new projects at an early stage. 

The protocol proposes allowing investors to jump in on new projects at an early stage, whether that is during seed funding or the private/public sale. By utilizing what the protocol refers to as tier-weight mechanics, they propose that their decentralized seed funding will be accessible to anyone.

0xPad is powered by the 0xPAD token, which is used in a variety of manners on the protocol.  

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Staking on 0xPad

Staking is done through the 0xVault and 0xMine pools, where users can add liquidity on PancakeSwap to start earning 0xPAD. 0xVault consists of four different pools, all of which are directly tied to Incubation/IDO allocations, Decentralized Autonomous Organization (DAO) voting rights, and Annual Percentage Returns (APR).

Bronze Pool – Lockup duration of 3 days and an APR of 5%. The APR is equivalent to 5.1% APY, with compounding once every 24 hours.

Silver Pool – Lockup duration of 30 days and an APR of 10%. The 10% APR is equivalent to 10.52% APY, with compounding once a day.

Gold Pool – Lockup duration of 180 days and an APR of 20%. The 20% APR is equivalent to 22.1% APY, with compounding once a day.

Platinum Pool – Lockup duration of 365 days and an APR of 40%. The 40% APR is equivalent to 49.15% APY, with compounding once a day.

0xMine allows users to mine 0xPAD by adding to Liquidity Pool (LP) pairs on PancakeSwap. Pairs currently supported are 0xPAD-BNB and 0xPAD-BUSD. There is no lockup period for mining on 0xMine pools.

Tier-Weighted Mechanism

Working in tandem with staking pools is the tier-weighted mechanism for participating in seed funding and IDOs. With each pool investors are given a tier-weight that corresponds to the level of the pool they are staking in, with Bronze being the lowest and Platinum the highest. There is also guest participation that involves joining a whitelist for an IDO, with allocations determined by many 0xPAD tokens the investor holds.

The protocol proposes this provides full decentralization as the tiers are based on lockup time and the amount staked or LP tokens provided through 0xMine pools. The mechanism utilizes a formula that weighs the amount of tokens staked/LP tokens provided, along with the pool chosen, to determine their allocations for incubated projects.

A full description of the formula that determines tier-weight for investors can be found in the 0xPad docs.

0xPAD Tokenomics

The 0xPad token is a utilitarian token with a variety of use-cases on the protocol. These include staking rewards, 0xPad Membership system level, the tier-weight mechanism, incubator allocation access, and DAO voting weight.

Token Ticker: 0xPAD

Total Supply: 100,000,000

The allocation details can be found in the tokenomics section of 0xPad whitepaper.

0xPad IDO

The 0xPad IDO sale will take place at the beginning of January, 2022. Per the 0xPad docs, here are the details for the IDO and participation requirements:

Whitelisted Addresses

Starts: January 3rd, 2022 at 12:00 PM EST

Finishes: January 5th, 2022 at 12:00 PM EST

You can join the whitelist by filling out this form.

Non-Whitelisted Addresses

Starts: January 4th, 2022 at 12:00 PM EST

Finishes: January 5th, 2022 at 12:00 PM EST

Participation

The IDO sale will be held on the 0xPad website and will be held in BUSD. There is no minimum contribution and the maximum is 12,000 BUSD per address.

IDO Sales Price/Caps

Allocation: 12,000

Sales Price: $0.06 USD

Soft/Hard Cap: 450,000/720,000 BUSD

IDO Token Distribution

100% of this allocation is unlocked at TGE/IDO.

Participants have immediate access to 100% of the tokens they purchased. Participants can then become members of 0xPAD protocol immediately and start earning from participation in IDOs/Incubation of innovative projects. They also earn staking and liquidity mining rewards.

Circulating Supply at TGE: 13,000,000

Listing Price: 0.08 BUSD

Listing Schedule

0xPAD will be listed on PancakeSwap on January 5th, 2022 at 2:00 PM EST.

Concluding Thoughts

0xPad is building a decentralized ecosystem that proposes the importance of equal participation. With their tier-weight mechanism practically anyone can participate in incubated seed rounds and IDOs.

In essence, the 0xPad team claims to offer an opportunity for investors (both serious and casual) to get in early on promising projects. Along with security measures such as multi-sig vaults and transaction validators, the team has also stated they have an intense vetting process for any new project seeking to use their services.

Source; BSC News