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RocketPad team is happy to announce its Public Sale. After a seed sale which went unexpectedly well and the pre-sale soft cap (ascertained at 75% of the pre-sale allocation) reached in a grand style, comes the Public Sale.
The launchpad and blockchain
Rocketpad is a community IDO platform built on the Cardano blockchain. At its core, Rocketpad was created to enable startups and new businesses to raise capital to scale their operations in a decentralized and transparent manner. The native blockchain called ‘Cardano’ named after the Italian polymath is the third-largest blockchain behind Bitcoin and Ethereum.
It enjoyed rapid growth due to the usage of the proof-of-stake protocols – often seen as the greener alternative to proof-of-work. Thus addressing the concerns of environmentalists. A sudden surge in popularity came after the Alonzo hard fork. Now the platform is widely anticipated to cross Ethereum in terms of network transactions. This is due to its technologically and financially superior DeFi tools.
In line with this, ROCKETPAD will become the place where Cardano’s extensive community can come together to fund high-growth projects characterized by the immense potential for future success.
The multi-purpose $ROCKET token
After buying the utility token at the platform’s IDO, the owners will receive IDO tokens. These tokens which will enable them to vote on the projects they believe have the potential to qualify for IDO on their platform.
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The business model allows $ROCKET holders who have staked their tokens to generate revenue. This is because they will be able to farm ADA, earn more $ROCKET or do both using their token. Holders of $ROCKET can also use the ROCKETPAD Insurance Program by keeping their $ROCKET after sale. Details of the insurance program will be published in the coming days. Thus, $ROCKET Token will be used as a subscription token to navigate the Rocketpad IDO Launchpad. Its multiple use-cases are built on the Cardano Blockchain which will power the ROCKETPAD Ecosystem.
Staking requirements
To become part of any IDO on our platform, $ROCKET holders must assign the required number of points for their status to the $ROCKET pool for a minimum of 5 days prior to sale. There are currently 5 tiers in the system and the minimum amount designated for each tier needs to be bought and staked before the IDO snapshot is taken. (Read more about tier levels here).
The staking bracket corresponding to each tier is listed below:
- KNIGHT: 500 – 5,000 $ROCKET
- BISHOP: 5,000 – 50,000 $ROCKET
- ROOK: 50,000 – 250,000 $ROCKET
- QUEEN: 250,000 – 1,250,000 $ROCKET
- KING: 1,250,000 – 6,250,000 $ROCKET
Allocation and pool structure
All these tiers carry a pool weight equivalent to their level number: so for example the KNIGHT has weight 1, the BISHOP 2 and so on. The allocation then depends on the total pool share which can be more easily understood using the example. Suppose a project – for its instance ADA DEMON – wants to sell 10,000,000 million tokens on the platform. Now further suppose that 50 KNIGHT, while 40 BISHOP tier members participate through staking the minimum, required amount through the snapshot announcement. We know that the pool weight for the former is 1 while for the latter is 2 so total pool shares are (1 x 50) + (2 x 40) = 130 shares
Thus, the total supply of the ADA DEMON tokens is divided equally among the shares so one single share will have (10,000,000) / (130) = 76,923 tokens
The KNIGHT tier members will each have the ability to buy this amount of tokens while BISHOP members who have staked more will have the ability to buy a larger share i.e. double the amount a KNIGHT tier member can since its pool weight is double, too. ROCKETPAD has the option to limit the pool size depending on the IDO’s request. The tokens are allocated on a first-come-first-serve (FCFS) basis while the holders obtain the allocations they are entitled to after burning their tokens. This has increased the exclusivity of IDO whitelisting in ROCKETPAD.
The public sale
The sale is live, which is the last round to be able to purchase $ROCKET Tokens. The supply is for the remaining 10% of the total supply i.e. 15 million tokens at the price of 1 ADA = 37.5 $ROCKET token
The minimum buy is 100 ADA while the maximum is at the value of 40,000 ADA. The sale can be participated in by scanning the QR code on the Public Sale webpage of their website and sending ADA using any Cardano-supported wallets.
The team further aims to list the token to some of the top 5 exchanges in concordance with the roadmap.
