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MANTRA DAO Introduces ZENDIT Launchpad to Host Decentralized Token Sales

Avatar by
March 15, 2021
in Uncategorized
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Launchpads have been one of the big performers coming out of the DeFi scene recently, with new platforms created on various networks to make new investments accessible to small and medium-sized investors. Launchpads are beneficial for investors and the projects themselves; the investors can get exposure to new tokens at private sale price before the asset hits the open market, and the project gains a new community of supporters. MANTRA DAO, a community-governed DeFi platform focused on staking, lending, and cross-chain services, is launching its own launchpad, ZENDIT, to empower its community of users and upcoming, high-potential cryptocurrency projects.

Decentralized swapping protocols are extremely powerful tools. This is evident through the expansive growth seen from both DEXs and launchpads, with Uniswap facilitating billions of dollars of volume every month. We can also gauge the popularity of these protocols via the speed that launchpads sell out of new assets. Generally, launchpad private sales for innovative projects are vastly oversubscribed, leaving users scrambling to try to get IDO access. MANTRA DAO has been preparing the launch of its new platform for months now, and has been working with projects that want to develop with MANTRA and launch on ZENDIT in the near future.

How Does ZENDIT Work?

MANTRA DAO has introduced a number of features to make its launchpad as fair and accessible as possible. ZENDIT primarily uses a decentralized fixed swapping protocol to conduct token issuance. This has a lot of advantages, such as providing transparency in terms of the full amount of tokens available for the launch, as well as the neutralization of bad actors who try to artificially pump token prices after launch, only to dump them on unsuspecting investors. Using this platform, projects will be able to offer potential investors both private and public pools, expanding the capabilities and inclusivity upon launch. By introducing these measures, MANTRA can provide both speculators and long-term supporters an optimal launchpad experience.

Another feature ZENDIT utilizes that is not seen across most of its competition is Dutch Auction launches instead of standard fixed swap pools. Using a Dutch Auction, projects can realize their token’s true market value upon release, as users will bid the price they are willing to spend for each token. This leaves less room for potential gains from speculators if the Dutch Auction price is higher than the initial fixed swap price, but it provides the pure market value of the asset and yields the project increased capital based on genuine market demand.

As a full DeFi system, MANTRA can offer projects and their investors a multitude of services after launch, specifically staking and lending. MANTRA also provides the tools, resources, and marketing support projects need to be successful long term. Before having the opportunity to launch using ZENDIT, all new potential projects will be thoroughly vetted by the MANTRA DAO Council, assuring investors on the legitimacy of the team, project, and cryptocurrency offering. As a final new feature, ZENDIT will also offer an NFT-specific launchpad that acts as a lottery ticket of sorts, rewarding certain users who participate in a ZENDIT project with valuable rewards.

How to Get Started on ZENDIT

The ability to access launchpad investments is determined by a tier-based staking system of OM, MANTRA DAO’s native cryptocurrency. The amount required for different tiers will fluctuate based on the project and offering, allowing projects with smaller available allocations to include users without massive holdings to get involved. MANTRA will openly promote key dates for projects so their users aren’t left in the dark, such as the cut-off date for wallet requirements for participation and how to qualify with your wallet snapshot.

ZENDIT’s tier structure is named after the tallest mountains in the world. Users who meet the requirements to participate in the launch will be entered into the highest tier possible based on their wallet holdings. The participation tiers from highest to lowest are:

Tier 1 EVEREST — Supplying 50,000 OM on ZENTEREST (zenOM)

Tier 2 ACONCAGUA — Staking 40,000 OM (sOM)

Tier 3 DENALI — Holding 30,000 OM

Tier 4 KILIMANJARO — Holding 100M OM Staked NFT

Tier 5 ELBRUS — Holding a MANTRA DAO PolkaPet

Gearing Up For Launch

ZENDIT isn’t wasting any time and is already preparing to host its first token launch. With a couple of successful launches in the books, ZENDIT is gearing up for the next project. On March 16th between 2 PM and 3PM UTC, PolkaFoundry will launch its IDO on ZENDIT. PolkaFoundry recently partnered with Kylin Network and has gained a lot of traction in the past couple of months. Using ZENDIT, PolkaFoundry will offer both its community and MANTRA DAO’s community a chance to support the project. Keep an eye out for this launch and upcoming ZENDIT launches as MANTRA DAO gears up to become one of the likely launchpad leaders for the long-term. 

The post MANTRA DAO Introduces ZENDIT Launchpad to Host Decentralized Token Sales appeared first on Influencive.

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