Seedify.fund’s Launchpad and other products that create the Seedify.fund ecosystem as a blockchain innovation hub is continuing with speed.
In this article we want to provide you answers to questions that you may have in mind, to help you understand everything about Seedify.fund Launchpad better.
As you know Seedify.fund will consist of a Seed Stage Funding mechanism, a Decentralized Incubator, and a Launchpad. While these three are the major products of our ecosystem, each to his own will have various particular systems to help innovators, and different use cases for the token utility of SFUND for SFUND holders / stakers / farmers.
Without further due let’s start with the Questions and Answers.
Q: What is the benefit of Seedify.fund Launchpad for token holders?
Those who hold/stake/farm SFUND will be able to join the token sales of the projects which are held at Seedify.fund Launchpad, and get allocations from these projects before they release to the market.
Q: How many SFUND tokens you need to hold for Seedify.fund Launchpad IDOs? Is holding more SFUND besides the minimum have any benefits?
You will need to hold a minimum of 100 SFUND tokens for the tier 1. While there will be many token holders at this particular tier, the smart contract will randomly choose a particular number of token holders for whitelists before each IDO in this tier, since otherwise the allocations will be very very small otherwise.
For tier 2, you will need to hold a minimum of 1000 SFUND tokens. This tier will have relatively less token holders, thus the chances of whitelisting for IDOs on this tier will be higher compared to tier 1. Also, we will have polls on this tier, so to whether have guarantees divided to everyone on this tier, with lesser allocations, or have a system so like 50% of the people in this tier would be randomly selected for each IDO, with higher allocation caps from IDOs
Update: The community poll has been done regarding this tier, with a final conclusion that tier 2 allocations will be guaranteed.
In tier 3, the allocations will be guaranteed as well. Having 10000 SFUNDs will make you automatically eligible for each IDO, and the allocations will be divided among tier 3 participants, with higher allocations caps relative to all the other tiers, since tier 3 will have much less participants compared to other tiers.
Q: How will the allocations from each IDO’s raise be divided among the tier pools?
Tier 1: 34%, Tier 2: 33%, Tier 3: 33%
For example, if an IDO is trying to raise 1 million USD, $340.000 will be allocated to tier 1, $330.000 will be allocated to tier 2, and $330.000 will be allocated to tier 3.
Q: Will there be additional tiers besides this?
Yes there is an “initial funding tier” which is devoted to people with 100k SFUNDs. Basically this tier’s purpose is to provide funding to projects that need some funding right before their IDOs to prepare for a great IDO, if some projects need that initial funding. The initial funding rounds will not happen for each IDO, they will be happening only when there is a necessity.
People with 10k SFUNDs will be able to join the initial funding pool too, although their allocation will be smaller compared to people with 100k SFUNDs. 50% of initial funding rounds will be allocated to people with 10k SFUNDs, and the other 50% of the initial funding rounds will be allocated to people with 100k SFUNDs. Since the amount of people with 100k SFUNDs will be a lot less, thus they will get more allocation during the initial funding rounds.
Q: How many IDOs will there be each month?
While giving a definite answer on this is not possible, a part of our marketing budget will be completely devoted to awareness and marketing campaigns to bring more projects to Seedify.fund Launchpad.
Our aim is to start with at least 1 IDO a week, and raise this number to one IDO every 3 days. So our marketing efforts will be aligned with these goals.
Reaching these numbers quickly isn’t hard, however we also want to make sure each IDO we hold has strong fundamentals, so we will be working to attract much more projects then these numbers, and let our community choose the best projects among them.
We will run ads on major websites regarding cryptocurrency, entrepreneurship, and development so more and more projects can apply to Seedify.fund Launchpad daily, and we hold IDOs of all the promising projects.
In order to elevate the number of IDOs coming to Seedify.fund Launchpad, we will also have a dedicated marketing team whose main focus will be bringing new projects to Seedify.fund’s seed funding mechanism and launchpad.
Also projects who get their seed fund from our seed funding mechanism from Seedify.fund will be required to hold their IDOs at Seedify.fund Launchpad.
Q: How is the development ongoing with the Seedify.fund Launchpad?
As of now we are on the final phases of Seedify.fund Launchpad’s token sale smart contract. The token contract we are developing is not just a simple token contract, but a very robust smart contract, which has :
- customizable parameters for each IDO so the smart contract is reusable for each IDO that has a different funding goal, thus different allocation caps and whitelisted wallet address
- the smart contract will only accept funds from wallet addresses that are whitelisted according to the tier system we described above, which will completely eliminate gas wars. If your address is in the whitelist then you will be able to fund the token contract at set times in between the start and end period for each IDO.
- the smart contract will reject amounts more than the allocation caps, so no one will be able to cheat the system, and get others’ allocations.
- the smart contract will be fully audited by 2 major security audit companies, so to not have any security breach.
To check the smart contract code you can visit this BSCscan testnet link:
Once testnet version is fully completed, we will send it to audits, do the adjustments they recommend, and once the smart contract is fully secure we will push it to the mainnet, and publish the audits of the mainnet version.
On top of this we are also developing a customization panel, so we can set parameters for each smart contract deployment, in an environment that is very user friendly to deploy this smart contract for each new IDO.
Q: Will there be bonuses for community members who attract new projects to Seedify.fund Launchpad?
Yes, as Seedify.fund we will also announce a referral system, so there can be a team of community members who research and reach out new blockchain projects to apply to Seedify.fund Launchpad.
If a certain project is accepted to be at Seedify.fund Launchpad after a community member’s referral, there will be a very good bonus in SFUNDs.
We will have this program running in a dedicated communication environment, supplied with education materials, so community members who would like to take on this job can get the utmost training possible, and when they reach out to new projects, they will have more success at defining the value propositions of Seedify.fund Launchpad and get new projects interested in having their IDOs at our launchpad.
We will publish further info on this program within 10 days, so we can get the training process started before the Launchpad launch.
Q: If I am farming SFUNDs through the yield farming program am I going to be eligible for tiers?
Since current dexes on BSC do not show the current amount of holdings before you swap your LP tokens back into SFUND & BNB, we are currently in talks with our developers so we can find a workaround strategy, and develop the necessary tooling so those who farm can also join the process.
With staking to get free tokens from all projects we fund through seed funding mechanism which will arrive in Q2, this won’t be an issue at all, but for farming we need to develop a tool to make this work.
As Seedify.fund we want our farmers to keep farming while being able to join Launchpad tiers, so we will focus on the necessary steps with our developers, and will share the news when we come up with a workaround strategy and tooling for this part. Announcements will be shared on this in the next 7 days, possibly sooner.
Update: We have talked with our developers and found a solution. Currently building an API so to have SFUND yield farmers’ holdings shown in the snapshots for the IDO tiers. https://t.me/seedifyfund/312
Q: What kind of a screening process Seedify.fund Launchpad will have to eliminate scam & rugpulling projects?
Before each project is open to voting through decentralized voting, to be accepted or not to the Seedify.fund Launchpad, they first need to apply through the form. First of all we will screen each project through this application.
And then we will run a KYC/AML tooling through a 3rd party provider to do background checks on the team, so to make sure there are no criminal records on any of the team members, as well as have this information for future reference, for risk management.
As Seedify.fund our responsibility will be to share only clean background record teams, who have provided the right information about themselves. Thanks to KYC/AML services we will be able to make this screening for each project, and not let any project who doesn’t pass risk assessment launch in Seedify.fund Launchpad.
Also, after the screening process, our community will also have a vote on each project to decide whether to include them in the Seedify.fund Launchpad or not. So with this double screening system, the system will be much more robust, and eliminate the bad apples as much as possible.
Q: When will Seedify.fund Launchpad launch?
Our estimations suggest that the smart contract work will be completed during this month, however we will also go through at least 2 security audits, as well as develop the interface for the frontend and backend.
Our goal is to release Launchpad completely next month, so in May 2021. During April we will be focusing on the marketing strategies related to Launchpad, get the legal and audits in order, have a lot of projects applying to be on our Launchpad, setup the referral program as well, so once the Launchpad is launched, all the preparedness will help it become a major player in the market.
Bear in mind, besides the Launchpad we are also developing other products of the Seedify.fund ecosystem with multiple dev teams, so Q2 won’t be about just the Launchpad but also bring fruit to all the major product ecosystem mechanisms of Seedify.fund.
Q: How can I apply to the Seedify.fund Launchpad referral program to refer projects and earn SFUNDs? Are there any requirements?
Further announcements will come on this during the next 10 days. First we will create the training materials, set up the communication environment, rules, and reward mechanisms very diligently, so when the program is launched, we can have a very good program that produces great results both for the members of this program, SFUND holders and the Seedify.fund Launchpad.