LaunchX Community Update #003

In this community update, we’ll share our progress, what we’re currently working on and what is coming in the near future.

Before we highlight our development updates, we want to provide you with the news you’ve all been waiting for…

We are very pleased to be able to officially announce our first cohort of new projects that have passed our initial assessment process!

Libre DeFi, NFTrade & DinoX!

Now it’s time for the community to get involved. Please ask questions, give feedback, and then vote on whether you want them to have an IDO on LaunchX. We’ve thoroughly assessed all of them, and now we’re ready to introduce them to you. This process will happen on our Discourse forum. More on that shortly.

First, let’s give each of the three potential IDOs a brief introduction.

  • Libre DeFi
    Libre simplifies the entry into the DeFi space for both the casual and serious crypto investor. In addition, they offer a reliable way for anyone with an internet connection to invest in one of the fastest-growing sectors in the cryptocurrency industry. We’ll publish a partnership article soon with more information on the potential IDO and further collaboration.
  • NFTrade
    NFTrade is the first cross-chain and blockchain-agnostic NFT platform. They are an aggregator of all NFT marketplaces and host the complete NFT lifecycle. Using NFTrade, anyone can gain access to their complete NFT ecosystem, unlocking the total value of the NFT market. We’ve already published an article about our partnership regarding NFT Farms. Click here to read it.
  • DinoX
    DinoX is a combat and strategy game in a sandbox environment. Focused on the massive gaming genre blended with a fan-favorite theme of dinosaurs with association to the Hollywood hit Jurassic Park franchise they bring a wealth of experience and traditional connections. You can build dino kingdoms, rally resources to expand, build combative skills to occupy others, and retain true ownership of the game due to the benefits of the metaverse. We’ll post an article with more details shortly.

Our initial plans were to have been busier on offering project launches during June and July, however, due to recent market conditions, several top tier projects we were in discussions with decided to push back their intended IDO dates. We appreciate that everyone of you would love for us to be more active but we’ve been very mindful that quality over quantity is our focus and we hope you appreciate our efforts to only bring the best projects available.

Keep an eye on our socials for more information about the temperature check phase. Within the next couple of days, we’ll have their proposals up on our forum, so you can discuss and then vote.

Roadmap Progress

Let’s start by giving you a framework of where we came from by sharing the June Roadmap below. If you haven’t already, please do check out our last Community update here.

Roadmap for June

Since the last update, here is the list of items we’ve been able to accomplish:

  • Vetting the initial cohort of IDO Projects
    We’ll start to roll out governance proposals for upcoming IDOs this week.
  • IDO Staking Tiers
    We gauged community feedback and voted on IDO staking tiers/process
    → for more details, visit this article.
  • Major partnerships
    GSD Venture Studios, NFTrade, Lossless, Pera Finance, MIH Ventures, DWeb3
  • Integration Development
    For ecosystems such as Solana, Cardano, Matic, Huobi Eco & KCC.
  • Finalized Contracts
    IDO contract, Staking Contract, and Synthetic LaunchX Power contracts.
    *Contracts are currently under audit and should be ready next week.
  • Discourse
    Our servers are up and running + populated content is now on the forum.
  • Whitelist Portal
    Refactored back-end whitelist portal for admins.
  • Bug fixes
    We fixed (minor) deployment bugs in the back end.
LaunchX is a cross-chain next-generation platform, continuously expanding to more chains!

What’s Coming Up

We’re 99% set to release V1 of the LaunchX platform. This will include (the):

  • Ability to stake $LNCHX tokens to get LNCHX Power tokens
  • Ability to stake $LNCHX or LNCHX Power tokens to get access to IDOs
  • Ability to participate in IDOs
  • Ability for projects to apply for IDOs (to submit governance proposals for listing via our Discourse)

We’ll also give the website a ‘make-over’, so expect a fresh new UI!

We’re also working on:

  • Expansion of the LaunchX team
  • Integration of new chains into the ecosystem (for projects to launch)
  • V2 of the LaunchX platform

LaunchX Incentive Program

Initially, the goal was to have listing fees deployed as stable coins into APY strategies (such as Yearn), but after careful consideration, we are not sure the initial reward distributions will be worth it.

Instead, we have created the LaunchX incentive program where projects contribute tokens that are farmed as part of the LNCHX power program. This will be facilitated through a locker system, where stakers can claim their share of token rewards for each project launched on LaunchX.

Our team will build the incentive program into V2 of LaunchX. Projects that launch between v1 and v2 will have their incentive tribute added to the locker system once V2 is released towards the end of August or early September. LaunchX V2 and V3 will have developer resources to build the back-end rails for the vault setup. However, due to the complexity of how some of the cross-chain logics work, we have decided to delay it for a later version and go with the locker system to start.

We want to thank everyone in our community for being here and showing interest and support.

Just know, this is only the beginning. We want to move fast, but more importantly, we want to make sure we do everything the right way. As we’ve said since the start, we’re in here for the long run.

As always, if you have any questions about how to be actively engaged, head on over to our Telegram, and we’d be happy to support you with any questions you have.

The Future of Launchpads