Topic: Ergopad - a token launch platform on the Ergo Blockchain (Read 56 times)

About Ergopad

Since ErgoPad is now a few months along from its initial launch, we wanted to take time to share a brief summary that covers the fundamentals of how the platform works in conjunction with our mission of bringing exciting new projects to the Ergo blockchain. We hope that you enjoy this short primer and that it sheds more light on the basics of ErgoPad and its position in the world of building a decentralized internet.


ErgoPad in Brief

The simplest way to understand what ErgoPad does is to think of it as a launchpad that helps teams build decentralized applications by supporting the ideation, development, and marketing of their projects. As a Web 3 incubator, ErgoPad works with teams to execute initial DEX offerings (IDOs) that fund innovation and growth. In other words, ErgoPad is a decentralized platform that backs the visions of blockchain-focused developers and entrepreneurs. Accordingly, it brings together the necessary functional elements that position teams to deploy exciting solutions that are capable of cultivating network effects on the decentralized web. For example, two experienced entrepreneurs, Evan and Michelle, come up with a groundbreaking idea for a gaming app, but they don’t have the developers to build it. This is where ErgoPad comes in, putting teams together that lack certain functional expertise, such as the case here, where there is a clear need for technical resources.

Who is ErgoPad for?

ErgoPad’s community consists of those that ascribe to Ergo’s mission of providing anyone in the world with fair and open access to blockchain-based applications. As such, ErgoPad believes that all people should have full control over all of their interactions with the internet. Our team, followers, token holders, and stakeholders at large, share a common goal — an unwavering commitment to contributing toward building and promoting the dApps needed for the Ergo Ecosystem to thrive and grow Ergo into a top-ten blockchain.

Why the Ergo Blockchain?

With a plethora of existing base layer blockchain networks, including Ethereum, Solana, and Avalanche, why did ErgoPad decide to exclusively build on Ergo? The answer to this question is simple. ErgoPad is deeply bullish on the success and growth of Ergo because of its unwavering commitment to decentralization, privacy, and scripting simplicity. As such, Ergo is a long-term solution, and its clear focus on maintaining the previously listed qualities position it well in the movement towards DeFi and the growth of privacy friendly dApps across many major use case categories.

What is an Initial Dex Offering (IDO)?

IDOs are the quintessential milestone in the incubation process for projects that ErgoPad partners with. Furthermore, they are the latest fundraising model for dApps, and represent an evolution from well-known predecessors such as ICOs and STOs. In essence, an IDO lists and issues the token for a project on a decentralized exchange (DEX) like ErgoDex. According to CoinDesk, a DEX is a decentralized application built on an underlying layer 1 protocol that uses smart contracts to coordinate the buying and selling of listed tokens without needing 3rd party intermediation. Other well-known decentralized exchanges consist of SushiSwap and PancakeSwap. IDOs can also offer instant liquidity and immediate trading at a low cost, while also providing stakeholders with a fair and transparent market venue.

What is the ErgoPad Token?

ErgoPad is the project’s token. Based on the number of ErgoPad tokens one has, holders can be eligible for early contribution rounds in new projects that ErgoPad helps launch on Ergo. ErgoPad completed its very own IDO in early 2022, with a maximum supply of 400 million tokens. Specifically, 80% of the tokens are reserved for staking participants, 10% were released for the seed round, and a large portion of the remaining amount is reserved for ErgoPad’s DAO treasury. The ErgoPad IDO also produced two trading pairs on ErgoDex, including Ergopad/Erg and Ergopad/sigUSD.

Currently, ErgoPad is only available for trading on ErgoDex. For more information on how to connect Yoroi and Nautilus wallets to ErgoDex and for more info on ErgoDex, please check out the following posts:

Yoroi Quick Start | Welcome to the ErgoDex Docs

Nautilus Quick Start | Welcome to the ErgoDex Docs

How to trade Ergopad on Ergodex after the IDO | by ErgoPad.io | Medium

Some Final Thoughts

We not only hope that this piece offers more of an intuitive grasp of what ErgoPad does, but that it also helps you better understand the role of IDOs in funding and growing the internet’s emerging decentralized ecosystem. Lastly, if you are looking to build your own project on the Ergo blockchain but your resources are limited, please contact us through our IDO Form.

-The ErgoPad Team

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