PAID Network is proud to introduce you to the first iteration of its brand new Initial DEX Offering (IDO) platform, Ignition, a one-stop-shop for token swaps and global community growth.
Ignition operates as a decentralized swapping protocol that allows blockchain-based token projects to offer private and public swaps to participants, leveraging Ethereum, Binance Smart Chain (BSC), and soon Polkadot smart contracts.
The new platform combines the forces of both Master Ventures and PAID Network. It brings together an institutional and retail network of 100+ partners in the blockchain space, courtesy of Master Ventures' global network. It is then powered by PAID Network’s community, with 50+ top crypto opinion leaders and influencers, and a growing community of 50,000+ dedicated members across Telegram and Twitter.
Ignition is geared towards making Tier-1 blockchain ideas and projects grow with no limits. It will achieve this by providing the infrastructure and support systems required to assist with liquidity auctioning and marketing to streamline the possibility for exponential growth to be achieved in record time.
Let’s dive in and introduce you all to some of its epic features.
Ignition will start by initially listing Ethereum based projects using the ERC-20 standard and will provide multi-chain support through Polkadot in the future. Each new project listed on Ignition will undergo detailed scrutiny per Master Venture’s incubation and advisory team.
The Ignition platform’s UI has been designed with the user in mind, making it very easy and accessible for blockchain projects and future supporters and token purchasers to navigate it. Blockchain projects can apply to be part of Ignition and undergo a detailed scrutiny check by both Master Ventures and PAID Network by clicking the “Apply To Launch” button. Moreover, users of Ignition, who continue to HOLD at least 1,000 $PAID tokens, can take part in all future token swap offerings by clicking the “Sign-Up” button. After successfully signing up, users will be able to “Login” and connect their wallets to the platform directly through MetaMask, allowing them to use the funds from their wallet to participate in future IDO’s. Users will be able to visit the platform and click on “Pool” to see what projects are being offered, which projects have already been launched, in addition to being able to explore and participate in future whitelist opportunities directly through Ignition.
One of the main aims behind Ignition is to create a loyal community, which will best serve both projects and their communities long term. To take part in IDO swaps, Ignition has created a token incentive mechanism. The mechanism needs participants to hold a minimum of 1,000 PAID tokens in their wallets. Furthermore, after taking part in Ignition swaps, users will be incentivized to hold their new project tokens rather than selling them. The longer they hold the new tokens from previous Ignition offerings, the higher the chances they have of winning lottery tickets to enter future Ignition IDOs.
Ignition is the first step towards building PAID Network’s full Decentralized Autonomous Initial Coin Offering (DAICO), projected to come to market in Q3 2021. The platform will allow blockchain projects to be listed, make sure that listed projects deliver on their promises, as well as have users take part in IDOs. Defining PAID Network features such as governance, arbitration, and escrow will be utilized to make sure projects listed on Ignition are held accountable, whereby a project team will be able to access funds raised upon completing pre-set deliverables. Upon each successful deliverable, the team will unlock the next level of funding. If it is found that the team behind a listed project is not delivering, participants can ultimately be refunded on a proportional basis.
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts execute DeFi transactions and business agreements seamlessly, making business exponentially more efficient.
About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public swaps. The platform leverages Ethereum, Binance Smart Chain (BSC), and soon Polkadot and smart contracts.
Ignition is different from other platforms in that it properly vets and selects only top-tier, cutting-edge projects. Its strategically crafted incentivization mechanism for participants of published projects will encourage HODLing and support both the project founders and the community. It isn’t just a trading platform. It FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to everyone.
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