CROWD is our homegrown Launchpad solution. It allows any project wishing to launch at CRONOS to conduct a presale to crowdsource funds for an Initial DEX Offering (IDO) at CRODEX.
Usually, projects launching via an IDO will offer their tokens at a discounted rate to their presale investors, in order to incentivize them to provide funds. This makes IDOs attractive to traders looking to accept risk by investing in a new project in exchange for the possibility of profiting off said project’s value growth, if all goes well.
For a new project, this model is also attractive because it allows them to launch with higher liquidity and a healthier holder distribution for their initial circulating supply. By adding Token Vesting, they can also limit the amount of profit taking in the critical initial stages of their project; however this is typically balanced to still allow initial investors to profit off of their investment in the short term.
How do we approve projects to be able to host their IDO at CROWD?
We are strong believers of the ‘decentralization of trust’ principle. Therefore, we do not see ourselves in the role of gatekeepers deciding what projects get to enter CROWD.
Instead, our platform distributes the decision process back to the CRX token holders.
Every time a new IDO proposal enters CROWD, two CRX-CRO vote staking pools are created: YES and NO. By staking their CRX-CRO LP Tokens at either pool, our holders are the ones in charge of governing what projects are able to enter CROWD, ultimately giving them control to decide on what projects they would like to invest. After a project is approved, CRX holders will get the chance to invest on it.
By voting at either the YES or NO pools, CRX holders also earn Staking Rewards, which makes voting attractive to the community, and ensures that as many holders as possible issue their vote to prevent “whales” to singlehandedly decide the outcome of a vote.
This model also ensures that project developers work hard on providing as much information as possible before submitting their project to CROWD. Low-quality or poorly documented projects will have a very hard time convincing CRX holders to vote YES for their project. This helps raise the average quality of projects presented at the Launchpad.
Sounds good. How do I participate?
CROWD is coming soon! Check this section again to see how you can participate at the Voting and Presale stages of CROWD, and what benefit tiers are available for CRXILLION and CRX holders!
