Terranova Picks: MoonStarter, Moving Beyond a Single Blockchain
2 min readInitial DEX offerings (IDO) another step in the decentralization of the blockchain market. However, getting started in this space is not easy.
An IDO is when a project launches its token on a decentralized exchange. In other words, it does not depend on the screening of any central organization. It focuses on attracting retail investors. Moreover, the company that chooses this path can increase and involve its community.
An IDO offers a much more attractive buy-side listing model than centralized exchanges. This is because it does not need stringent rules, and its liquidity supply is fast, with little slippage in the liquidity pools available on the DEX.
This scenario is very attractive for building platforms that help projects to be more successful in this journey. However, one of the issues that can cause a barrier to entry, for example, is the distinction between blockchains.
After all, currently, everything depends on the blockchain on which the project functions. Therefore, MoonsStarter emerged to break this barrier and be an IDO platform for all blockchains.
Get to know MoonStarter
MoonStarter’s mission is to be a single-stop, multi-chain launchpad for projects without distinction of the blockchain used.
The current project landscape is dependent on the blockchain used. Meanwhile, MoonStarter offers to launch multiple selected blockchains, using only one token on the Binance Smart Chain (BSC).
The choice of projects that will enter the MoonStarter platform depends on several criteria. However, the project is not limited to a single blockchain.
Commonly, multiple launchpads are based on a single blockchain. However, Moonstarter allows investors staking MNST tokens to invest in projects on any blockchain.
The initial blockchains supported are ETH and Binance Smart Chain. However, the second release will allow supporting Cardano, Solana, and Polkadot through the Moonbeam parachain.
Moonbeam is an integration system that allows ETH developers to migrate to Polkadot with limited effort. In addition, it grants the use of applications from the ETH ecosystem, such as Metamask.
Remuneration from fees
The MoonStarter business model is based on a bottom remuneration from the fees held on the amounts raised by the project:
- 1% of the raised amount and/or x project tokens will remunerate MoonStarter.
Ecosystem token
The platform’s utility token is MNST. The asset launched on the BSC. This is due to BSC has low transaction prices, transfer speed, and interoperability.
The token offers several uses to its holders. Here are two highlights:
- Access to the IDOs proposed on the platform.
- Users will actively participate in the team’s decisions, such as staking periods or blockchain support.
MoonStarter is aiming for innovation, something central to the blockchain ethos. The expanded blockchains will increase the platforms usability for those wanting to kickstart their IDO.
The post Terranova Picks: MoonStarter, Moving Beyond a Single Blockchain appeared first on BeInCrypto.
