Fully Decentralized Initial DEX Offerings Arrive on bSWAP
Binance Smart Chain projects can now automatically launch IDOs and users can swap directly from projects without slippage and with a liquidity pool available
San Francisco, California March 18, 2021, ZEXPRWIRE, bSWAP, a subsidiary of the Atom Foundation which acquired bscswap.com, the first Binance Smart Chain (BSC) AMM, is launching a wholly decentralized Initial DEX Offering (IDO) launchpad platform. Supporting automatic Decentralized Autonomous Organization (DAO) launches, the platform allows any project to raise money while maintaining liquidity, through built-in liquidity pools, and without interaction from an intermediary.
The bSWAP IDO platform presents the decentralized finance (DeFi) community with a decentralized launchpad that allows automated intake and launch. Presenting users with offers that display executed contract details and receive DAO information from valid sources like bscscan, Trust Wallet, and directly from the blockchain; with zero ability for information manipulation.
Currently, all launchpads utilize a fixed price, leading to front running. The bSWAP DAO platform does not freeze IDO’s prices, rather it follows the pools’ price on bSWAP; ensuring that the price of the pools increase as the investments into the IDO increase. If the price goes down, the price of the pools will decrease thus decreasing the available IDO fundraising amount.
The CEO of Atom Foundation, Yoda “Jude” Regev, proclaimed the launch “presents the first truly decentralized launchpad for DAOs that also balances community needs to help reduce rug pulls. It is all about liquidity, so you are less worried when you see investment dollars going directly to a pool you can use to withdraw from later. The fully automated intake is major news for DeFi and I suspect we are changing the game when it comes to decentralized offerings.”
IDOs are a means for a DAO to grow and raise funds in a way that does not hurt their early adopters. In order to increase protections to users, bSWAP’s IDO platform includes a community backstop. This means that to launch, projects need to open a pool with at least $10,000 total liquidity and 10% up to 100% of all funds raised must remain in the pool.
The community backstop and liquidity pool availability was an important piece for Chief Operating Officer, Kyle White. Who said, “following the principles of decentralization, the first step to protecting the community is to remove as much human interference and manipulation as possible. When communities are empowered, they feel more comfortable to be early adopters to great projects.”
After extensive engineering and design development, the bSWAP IDO platform will include two launch types, a fixed price sale and a Dutch auction.
A fixed price sale is similar to a traditional offering where DAOs set a fixed price to their offering. This process allows DAOs to instantly engage with the money and the user benefits from buying the tokens without slippage.
The second option for a DAO is to run a Dutch auction which allows the market to dictate the offering price. In the case of the Dutch auction, users are protected from price manipulation, since the funds and tokens are distributed at the end of the auction after verifying that the total investment is no more than the total supplies face value. This verification means users do not pay more than the token market price. Users may also receive a discount since projects must release the total supply for sale once the soft cap has been reached and the time period ended.
Currently, bSWAP is welcoming projects to launch for free. Once a few projects launch successfully, the fee structure will apply.
Atom Foundation is currently hosting a bSWAP and JNTR/b IDO to reward users for utilizing the new technology. Check out the offers or launch your own here.
About Atom Foundation
Atom Foundation is a Decentralized Financial (DeFi) liquidity ecosystem powered by proprietary protocols which underline IDO (Initial Dex Offerings) Auction technology, an NFT (Non-fungible token) marketplace with downside protection, multiple swap exchanges, cross-network aggregation, as well as staking and pooling in a decentralized way.
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