Ever since blockchain technology traversed from academic research to real-world applications such as cryptocurrencies, the expectations of the technology have increased very much. As time passed, we witnessed the evolution of new blockchain-based applications that primarily depended on cryptocurrencies, and this was just the beginning of the so-called “Web3 world.” As the potential of blockchains went public, many people wanted to have their business in the virtual world.

But it was difficult due to the lack of necessary capital and poor understanding of the underlying technology. Although the latter has been resolved to an extent, the former factor – funds, is still hindering new projects from venturing into the virtual world. To combat the issue came initial crypto offerings, similar to real-world stock offerings. After a lot of hurdles and lessons learned the hard way, an effective investment mechanism called Initial Dex Offering (IDO) was born. With the arrival of launchpads, IDOs benefitted massively. Also, workability on multiple blockchains has increased the effectiveness of the IDO launchpads. In this blog, we will see more about multi-chain IDO launchpads.

An Introduction to IDOs

Initial Dex Offering (IDO) is a crypto fundraising model used by crypto entrepreneurs. The major advantage of an IDO is that the model functions on decentralized crypto exchanges (DEXs), which enable true peer-to-peer trading of project tokens. The IDO model is a result of the disadvantages that the earlier crypto fundraising models such as ICOs and IEOs had presented. While ICOs did not need vetting, enabling scammers to be successful, IEOs were largely centralized, destructing the whole purpose of Web3. All these together have resulted in the creation of the IDO model, which has been achieving success in its short span so far.

An Overview of Multi-chain IDO Launchpads

An IDO launchpad is a platform where IDO projects can be listed for token sales. Typically, such an IDO launchpad would have a decentralized crypto exchange (DEX) attached to it. An investor can find all the information regarding an IDO project, including its whitepaper, roadmap, website, vision, missions, team, tokens, utilities, and more. Such exposure makes it easier for investors to make informed decisions before spending their cryptocurrencies on an exciting project. When such a platform functions on multiple blockchain networks, it is called a Multi-chain IDO launchpad. An IDO launchpad on multiple blockchains gives more investment opportunities to investors and extra exposure to aspiring crypto entrepreneurs.

How to Develop Your IDO Launchpad on Multiple Blockchains?

• Similar to any other crypto project, creating a multi-chain IDO launchpad begins with ideation. You should analyze all the facets of your IDO launchpad, including business possibilities, competitors, and technology, based on which you should draw the project’s roadmap.
• Now, you should start creating the prototype and testing it with a small user base. Based on the feedback, you should implement necessary changes while designing the front-end of the multi-chain IDO launchpad platform.
• Then, develop the back-end features of your IDO launchpad. While the process typically involves making the front-end work, it also includes blockchain integration, native token creation, and DEX creation. Essentially, a draft of the final platform would be ready after this step.
• Now, test the platform for any defects, and resolve them promptly. Ensure that you use various automated and manual test cases to get rid of all possible errors.
• Afterward, promote your IDO launchpad across various mediums to gain an initial community following. Also, ensure that you have initial liquidity for your native tokens as well as your platforms by working accordingly.
• Finally, launch your new multi-chain IDO launchpad for public trading. Make it a habit to release updates to your platform to keep up to date and act on customer feedback.

Benefits of Developing a Multi-chain IDO Launchpad

• A multi-chain IDO launchpad helps both investors and project owners find each other and give them an opportunity to explore new blockchains should they wish.
• Also, in such an IDO launchpad on multiple blockchains, investors can trade their tokens as soon as they buy them without the need for a cool-off period.
• Additionally, developing a multi-chain IDO launchpad platform helps in fundraising for new crypto entrepreneurs as the vetting process is taken care of by the community or an automated process.

Closing Thoughts

Hence, developing an IDO launchpad on multiple blockchains can be an attractive business option if you are interested in bridging the gap between new entrepreneurs and the crypto world. If you want to do so, there are a few firms that can help you develop a multi-chain IDO launchpad with their expertise in the domain. Such firms tend to put the client first, meaning that all the features you need will be added to the platform. Get in touch with one such firm to begin your new multi-chain IDO launchpad platform.