The upgraded launchpad will enable Web3 protocols to launch with equitable token distribution and healthier tokenomics.
Yooshi Launchpad Integrates Web3
In keeping with its plans for 2022, the Yooshi GameFi ecosystem has announced that it will upgrade the Yooshi Launchpad. The upgrade will enable Yooshi Launchpad to incubate Web3 protocols and non-game projects.
To support Web3, Yooshi has created a new Initial Yooshi-NFT Offering (IYO) mode into its launchpad, making available the utility of GameFi to Web3 protocols. With IYO, Web3 protocols will blend Genesis NFT mining, NFT HashRate Upgrade, Farm liquidity mining, etc., into their initial asset offerings. These features of IYO will suit Web3 protocols better than token-based IDOs. Yooshi unveiled its plans for the Web3 ecosystem via a March 10 Medium post.
“We are excited to introduce IYO (short for “Initial Yooshi NFT Offering”) and will upgrade YooShi LaunchPad, which is a new plan to fully support the initial assets offering of Web3 projects in the future,” Yooshi stated in the post.
Web3 platforms that launch via IYOs can sell their NFT Blind Boxes through the Yooshi Launchpad. These blind boxes may contain NFTs with various initial mining HashRate, or Farm LP accelerator NFT. Users who commit their NFTs to the project’s NFT mining pool or liquidity pool would then farm the project’s tokens according to the hashrate of their NFTs.
Unique Benefits of IYO
IYO provides a healthier way for projects to release their tokens during launch. The traditional way of floating token sales through IDOs usually leaves so many tokens issued too early in the project’s life and often concentrated in the hands of few. Using an NFT-based token launch helps decentralize token distribution better while minimizing concentration.
The mining hashrate of a project’s NFTs issued through an IYO can be upgraded by staking the project’s tokens. This provides users an incentive to lock away more tokens which is healthy for the project’s tokenomics. Here is an official post that gives more details about the IYO.
Yooshi, by reinventing its launchpad to suit Web3 applications, is keeping in touch with evolving blockchain technology. In a recent Q&A session with the Yooshi community, the team also indicated that it has set its sights on growing Yooshi into a decentralized autonomous organization (DAO). As it continues to innovate, Yooshi is positioning itself to remain relevant in an ever-changing competitive industry.
What is Yooshi
Yooshi is a play-to-earn NFT-based gaming ecosystem on BNB Chain. According to the FAQ on the project’s website, Yooshi derived its name from the famous Super Mario video game.
Yooshi boasts BSC’s first IDO platform for NFT-based gaming projects. The platform was recently featured in Binance’s Most Valuable Builder II program.
Where to find Yooshi:
Source : bsc.news
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