Launchpads are critical to the blockchain’s ecosystem. They help onboard projects, provide a proper stage to market and help connect the team with investors who’re willing to invest early in them by organising presale or public sale rounds.
If web3/blockchain is your thing then you may have heard of Solanium (Solana launchpad), RedKite and Binance Launchpad. But the question is, have you ever heard of Cardano (ADA) launchpad? Founded by Charles Hoskinson, Cardano was created to overcome the shortcomings of the Ethereum blockchain.
Unfortunately, it doesn’t have a dedicated launchpad to vet, onboard and market projects building on its blockchain until Cardence showed up. Cardence is the first launchpad and incubator focused on the Cardano ecosystem and today we will dive in and explore every feature this platform has to offer. Let’s get started –
What is Cardence?
Cardence is an incubator and a launchpad for the upcoming multichain blockchain projects. Built on Binance Smart Chain, it will vet, incubate and launch top-tier projects in the GameFi, NFTs, Metaverse and Cardano ecosystem.
Cardence is chain agnostic, which means any project can be launched on its platform irrespective of the blockchain type. Cardence guarantees listing top-notch projects only after they pass through its vetting process done by the experts. It aims to change the way launchpad operates by making it flexible and friendly for users.
Cardence is Cardano focused multichain decentralized IDO platform
Cardence Launchpad – Special features –
Cardence host special features that make it unique and different, listed below –
Decentralized Presale Platform:
Presale platform is a swap pool that creates presale of tokens at a fixed price. Any project can create its token sale. However, the tokens are released according to the vesting schedule which is pre-planned before the commencement of the sale.
The platform allows whitelisting of wallet addresses, locking of liquidity from the fund raised and running an affiliate marketing campaign to promote the project.
Token Locker:
This feature is under development. It will include the functionality of time-locked transfer, bulk upload of tokens for distribution (time-locked) and locking tokens according to the vesting schedule.
Smart Mint:
As the name suggests, Smart Mint will allow the creation of new Cardano tokens. Deployed on Cardano mainnet, any kind of token can be created on Smart Mint i.e Inflationary, Deflationary etc.
Project Vetting:
As said earlier, only top tier projects will be listed on the Cardence launchpad after proper scrutiny done by the industry experts. This step will also include community voting that will decide whether or not the project meets the expectations.
Community voting round for @Kirkstone_io
— Cardence (@cardence_io) August 20, 2022
Voting starts : 20TH AUGUST 2022, 5:00 p.m. UTC
Voting ends : 25TH AUGUST 2022, 5:00 p.m. UTC
Participate here : https://t.co/9YFM0YAEIR
Read details here: https://t.co/viebCjUOzc#cardence #crypto #IDO
Guaranteed Participation:
The major problem with presale is non-guaranteed participation. Cardence has addressed this problem and came up with a unique process that brings guaranteed participation to the table.
Wallets staking more than 4000 $CRDN will be eligible for a share of the allocation pool as per the weighted score of their tokens. More details on it can be read here.
Cardence gives guaranteed allocation to all participants. No Whitelisting ever
What is Cardence Coin $CRDN?
Cardence is the native token of the Cardence launchpad. $CRDN works similar to other launchpad tokens like $SLIM on Solanium and $PKF on RedKite Launchpad. It has the following utilities –
- Voting
- Staking
- Guaranteed Allocation
- I-club participation
- Rewards
$CRDN Tokenomics:
The token has a total supply of 50 million of which 15 million is initially released. Cardence has reserved 8 million tokens for liquidity mining which will be used to reward staking pools and liquidity pools. It is important to note that liquidity mining tokens aren’t part of the initial supply. The detailed token distribution can be seen from the table shared below –
Token Smart Contract Address: 0xfa17b330bcc4e7f3e2456996d89a5a54ab044831
Cardence Team Members:
Obaid Al Uhaid:
Obaid is the founder and CEO of Cardence and ADADAO. He has prior experience in launching multiple business projects (non-crypto). He holds bachelor’s and master’s degrees from Indian Institute of Technology (IIT Dhanbad). More can be found on his Linkedin profile.
We are super excited to announce that $adao, the governance token of AdaDao protocol is now listed on @adax_pro #DEX.
— ADADAO (@adadao_org) August 2, 2022
Dex link- https://t.co/G7cJqoiMXC#Adadao #Adax #DexListing #CardanoDex #CardanoCommunity #ADA #Stablecoins pic.twitter.com/9mXnNpQWrH
Sajid Ikram:
Sajid is the current COO of Cardence. He has over 15 years of experience working in top companies like General Electric and Panasonic. Checkout his Linkedin profile for details.
Irfan Khan:
Irfan is the Head of Marketing of Cardence and CMO of ADADAO. He has prior experience in the retail industry. Further details can be checked on his Linkedin profile.
Abdullah Tahir:
Abdullah is the community manager at Cardence. He has worked as a project engineer for Wipro. More can be read about him on his Linkedin profile.
Cardence Incubator Program (I-Club):
Cardence Incubator program is designed for the top tier projects that are selected after proper vetting by the experts. Cardence will take responsibility of the project’s performance for a certain duration and compensate investors in case the price fall below the presale level.
From Designing of the website to the preparation for launch, Cardence will follow a series of steps to ensure a smoother experience for the project’s development. The I-Club members are eligible to participate in private sale of incubated projects.
Members have to hold 50,000 $CRDN and stake it to be eligible for private sale
Cardence Benefits:
Guaranteed Allocation:
Cardence is the only launchpad that offers guaranteed allocation. Participants have to stake a minimum $4000 CRDN to be eligible for a share of the allocation pool.
Multichain Support:
Although the launchpad is primarily focused on the Cardano ecosystem. It supports all projects built on different blockchains. This is in contrast with the Solanium launchpad which only supports Solana crypto projects.
Incubation Support:
From vetting to the launch of the project, Cardence will provide end-to-end support to top-tier projects. Moreover, it will compensate investors if the price falls below the presale level.
Cardence Drawbacks:
Under Development:
Cardence is a fairly new project, it will take some time to align proper processes and onboard top projects on its platform.
Competition:
There’re a number of multichain launchpads which are competing with each other. It will be a challenge to sustain in this arena as the industry progresses toward the consolidation stage. Launchpads like RedKite, Metapreme, and Solanium are aiming for the same spot being targeted by Cardence.
Background Experience:
I have deep-dived into the Linkedin profiles of the core team members. Sadly, none of them has prior experience in the blockchain industry which is crucial for a successful blockchain project.
Projects like Biconomy (BICO) which was launched in the same year have founders from India, having handsome experience working in blockchain companies. This may add a dent to the growth of Cardence launchpad until they recruit someone with blockchain expertise.
Cardence Coin Price:
Please check the latest Cardence Coin price, shared below –
Cardence Coin Price Prediction:
With an initial supply of 15 million tokens, Cardence was launched on 20th July 2021 at an initial price of $0.04 per token. At the time of writing, the token is trading at $0.10 and almost hit the all-time high of $0.40 in the previous year, profiting the investors who invested in the IEO.
The project is fairly new but the concept is proven. There’re a bunch of successful launchpads prior to the inception of Cardence. Launchpads like Solanium, Kaizen & Redkite are already booming after onboarding a ton of promising projects.
Talking about the future price prediction of $CRDN, it is safe to say that if everything goes well, the coin will replicate the price action of the existing launchpad tokens like $SLIM and will possibly hit $1.00 mark in the coming bull run. If things fall into place, it will have the potential to further extend the gains beyond $3.00 mark.
Checkout Kaizen Finance, a cross-chain IDO launchpad, facilitating locked token trading
Where to buy Cardence Coin?
Cardence is yet to be listed on top exchanges like Coinbase and Binance. However, depending upon the liquidity in the liquidity pools, Pancakeswap crypto DEX is the place to purchase the CRDN tokens.
Is Cardence worth investing?
Cardence has a well-defined roadmap and clarity of action. The team is focused on making Cardence a leading launchpad for top-tier projects. It primarily focused on the Cardano ecosystem which remained untouched by other launchpads in the past.
Although the project has a good value proposition, it is too early to predict the future of this project. The blockchain market is ready to enter the consolidation phase, therefore Cardence will face stiff competition with similar launchpads.
On the bright side, it offers some of interesting features like Guaranteed allocation and Affiliate marketing that other platforms failed to integrate. Talking about investment in CRDN, the project is genuine and trustworthy.
Cardence has failed to take-off. Possibly because of the existing bear market
If launchpad is your thing and you believe in Cardano blockchain i.e its ecosystem then you must add Cardence to your investment portfolio else focus on Solanium, Redkite or Binance launchpads.
This completes my review of Cardence launchpad. In the next post, I will talk about Nova Finance. If you’re a fan of blockchain technology then please do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
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Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.