PAID Network is excited to announce the upcoming launch of Ignition, its Initial DEX Offering (IDO) platform. Ignition will allow PAID token holders the opportunity to participate in curated and novel private and public token auctions.
Operating as a decentralized swapping protocol, Ignition allows blockchain-based token projects to offer their private and public auctions to participants, leveraging both PAID Network and Polkadot technology.
Capitalizing on PAID Network’s community strength, along with Master Ventures incubation resources, Ignition provides a one-stop shop platform for auctions and global community growth.
Master Ventures and PAID Network bring a staggering 65,000+ institutional and retail investment network, 100+ partner community, 50+ top crypto opinion leaders and influencers, and a growing community of 50,000+ dedicated members across telegram and twitter, providing Ignition a strong launch pad for take-off. Ignition’s platform provides both the infrastructure required and a powerful support system to help each new top project with liquidity auctioning, and the ability to gain exponential market growth in record time.
Ignition will initially start with Ethereum based projects using the ERC-20 standard and soon after provide multi-chain support through Polkadot utilizing our partner Plasm. Moreover; each new project listed on Ignition will undergo detailed scrutiny per Master Venture’s incubation and advisory team.
Ignition places a strong emphasis on creating a loyal community, which will best serve both projects and investors long term. In order to participate in an IDO on Ignition, users will need to hold a minimum of 10,000 PAID tokens. Furthermore, participators in Ignition’s projects are incentivized to hold their new project tokens rather than selling.
The longer they hold the new tokens of the previous Ignition offerings the greater the chances of winning lottery tickets to future Ignition IDOs.
We are delighted to share we are already in discussions with many Tier-1 projects, who we will be announcing soon! Stay tuned. If you would like to learn more, please read the PAID Ignition deck here.
Get ready for lift off
We have written previously about PAID Network’s DAICO that will ultimately allow for Decentralized Autonomous Initial Coin Offering (DAICOs) that will provide greater transparency, governance, and accountability. Ignition is the founding block of our PAID Network’s full DAICO projected to come to market in Q3 2021. Not only will it let PAID token holders participate in new lucrative listings, but once it couples with PAID Network’s roll out of its governance, arbitration, escrow features it will also allow them to retain accountability over the team to prevent bad actors from fundraising and then failing to deliver on their promises. This will be achieved by team access to funds raised, with access only unlocked upon completion of pre-set deliverables. Upon each successful deliverable, the team will unlock the next tranche of funding. If it is found that the team is not delivering, participants can ultimately be refunded their investments on a proportional basis.
Ignition represents an obvious use case for PAID Network. We are building the world’s first borderless SMART Agreement DApp for all business needs, governing over the whole business agreement’s lifecycle. However; because we have all seen every type of auction imaginable, from the very good to the very bad, Ignition will help produce higher quality listings that serve both the needs of teams and investors to produce long-term wins for all parties.
This will reduce the risk of investing in startups, as well as more quickly releasing capital back from unsuccessful investments. In the long run, this helps capital find homes with good projects more efficiently, which is a net benefit to the wider industry.
For any questions, please feel free to reach out to us on: