Launchpads are blockchain platforms that are designed to allow investors or anyone interested in a project to buy into a project before it is open to the public. It makes launching crypto projects easier and faster.
Another advantage of a launchpad is that it offers more security to both founders and investors. The stats of the number of crypto projects coming up are high so also are the cases of fraud in the crypto industry. This entire need is what a launchpad use case like StarTerra is designed to address. What is StarTerra?
StarTerra is a gamified launchpad designed to help crypto projects launch, built on the Terra blockchain. It is developed with the “Play2Earn model and gamified NFT Integration,” says the Whitepaper .
Apart from the general market need of having a system to ease the launch of crypto projects, StarTerra was launched from the community’s need for a game-like system to carry out the same function. So that gamers, as well as developers, can enjoy and launch IDOs in gamified manners.
StarTerra brought in a unique approach to engaging users on a launchpad whether as users or investors or developers. Here are the features of this gamified launchpad: Gamified Tier System
StarTerra uses about five different tiers for its IDOs. Tiers can be described as the different levels each investor can identify with when investing in any new project. This is dependent on the amount of liquidity set for each tier.
For any user to participate in Tiers 1, 2, 3, and 4, the requirement is 250, 3000, and 3000 StarTerra energy respectively. While tier 5 is for those with the highest amount of StarTerra tokens. Gamification of this process also makes it very exciting inspiring competition amongst players as well as users of the launchpad. Gamified NFT Integration
Competition through gamification is at the heart of StartTerra and that’s why the NFT Integration is designed to allow users who participate in IDOs to be rewarded with these assets. The NFTs created will be a limited version that can be used in the ecosystem.
After an IDO ends, rewards will be given as NFTs to the most active participants in the gaming process aside from the allocation for participating. These NFTs can also be sold or used to earn more rewards in other games developed in the StartTerra platform. Deflationary Tokenomics
All fees paid by users of StarTerra will be shared into three parts: 30% will be used for burning smart contracts, 20% will be for Play2Earn funding and 10% will be used as rewards for $STT liquidity providers. The 50% left will be channeled towards the maintenance of the StarTerra ecosystem.
This plan will reduce the circulation of the token thereby affecting the price positively due to spare scarcity. For gamers and liquidity providers, it’ll encourage more users to hold the token which will reflect in the value of the StarTerra token. UST StableCoin Deposit
Participants of an IDO are required to prefuks their account with UST StableCoin of Terra blockchain. “This system provides our investors with peace of mind that their allocation will not be forfeited,” says the team. “What’s even more exciting, thanks to the Anchor Protocol bridge we will be able to generate a 20% stable yield on those deposits.”
Profit from this process will be used to support competitions in the ecosystem, tokenomics of StarTerra as well as investors. Part of the profit will be distributed to depositors, top leaderboard contributors through Play2Earn and the $STT burning mechanism. Multiplanetary Farming Staking
Why interplanetary? StarTerra created this option so that users and stakers of $STT can convert part of their proceeds to tokens of every project launching on the platform. Thereby making it possible for rewards to come in weekly from all projects as they are launched in form of airdrops and other tokens.
These rewards are released after certain steps are taken by the holders of these tokens so that it’s not a mere click-and-take action like is generally done. The interplanetary staking model gives all users of StarTerra a chance to earn from all IDOs in the launchpad. Read this also:
Applying for IDO
StarTerra Council is made of highly distinguished individuals with governing responsibilities of the ecosystem. This body is responsible for selecting the projects that will launch on the StarTerra Launchpad.
Once approved at this stage, the project team is supplied with adequate guidance on launching a successful project. After the initial phase, another support is given in form of tokenomics, business […]
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