Avalanche Announces Native IDO Platform
- Avalaunch is expected to go live in May, with its native token XAVA to list on the Pangolin DEX a few weeks prior.
- The platform addresses the cost and scalability challenges projects face when fundraising.
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According to an Avalanche announcement from 23 April, the platform is expected to go live in May, with its native cryptocurrency XAVA getting listed on the Pangolin exchange a few weeks before that. Avalanche said the Avalaunch platform will provide developers with a clear pathway to funding applications built on top of the Avalanche blockchain.
“With the parabolic growth seen in decentralized finance, NFTs, and cryptocurrencies in general, it will now be easier than ever for projects to access advisory, technical insights, funding, and marketing capabilities directly from network stakeholders, as well as other teams in the ecosystem,” the company said in the announcement.
Avalaunch will emphasize equitable project launches and distributions in a bid to introduce innovative projects to the network. Avalanche’s low transaction fees and network decentralization have made it an attractive alternative to Ethereum, with high-profile protocols such as SushiSwap, AllianceBlock, Injective, Frontier, and UNION migrating to the network.
The team behind Avalaunch said they have addressed all of the scalability challenges, unsustainably high fees, and fragmented and opaque distribution when designing the launchpad. The platform will also have some added features geared towards fine-tuning the IDO experience both for projects and users.
- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.
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- The Avalanche Foundation’s “Metaverse” program aims to accelerate the adoption and growth of the Avalanche network subnet functionality.
- The first two projects selected for the program are an NFT gaming project, and an institutional DeFi initiative with a native KYC functionality.
- Three new Avalaunch IDO tokens are currently valued significantly higher than their sale price.
- The upcoming Imperium Empires game is perhaps the most hyped up project to launch a token on the launchpad.