Ever since the first cryptocurrencies went live, they have been an application that has been eyed by experts as revolutionary. They might be correct, as they have already resulted in multiple other revenue streams in the blockchain world. There have been applications such as initial offerings (ICOs, IEOs, and IDOs), decentralized finance (DeFi), and non-fungible tokens (NFTs), among others. These applications have brought about a lot of advancements in the crypto world.
Talking about IDOs (Initial Dex Offerings), these are fundraising models that use decentralized cryptocurrency exchanges (DEX) for token flow. These have resulted from the shortcomings of earlier ICO (Initial Coin Offering) and IEO (Initial Exchange Offering) models. In this blog, we will see more on developing IDO Launchpads on Avalanche, a blockchain that has already provided people with a lot of promise.
Avalanche – The Blockchain
Avalanche is a blockchain network released in 2020. One of its catchy points is that it resolves the blockchain trilemma of scalability, security, and robustness, which the earlier blockchain giants could not achieve. The network has also attained high speeds, fast finalities, and energy efficiency, the blockchain world’s additional goals. In a nutshell, Avalanche can be called the “Ideal” blockchain that every early adopter had been waiting for. The native token of the Avalanche network is $AVAX, which has been gaining a great deal of attention since its introduction into the crypto market. The blockchain also offers interoperability with multiple blockchains, including Ethereum, as its environment supports many virtual machine mechanisms. Along with this, Avalanche also supports the addition of sub-chains or Layer2 solutions inside it, making it a viable option for businesses with future expansion in mind.
Features of Avalanche That Should not be Missed
- Avalanche boasts of extremely high transactions per second (TPS), with 5000 achievable so far. More TPS becomes possible with the addition of high-end systems to the network.
- Due to the usage of Proof-of-Stake (POS) in the network to verify transactions, gas fees are lesser than in other blockchain networks.
- Also, Avalanche supports sharding, wherein we can create smaller chains on the main network to make projects work efficiently without disturbing the main Avalanche network.
- The network offers incentives to $AVAX holders to stake coins and validate transactions on the blockchain.
- The sharded chains on Avalanche can either be set as permissioned or permissionless, according to which the functionalities differ.
Developing an IDO Launchpad on Avalanche
As we all know, an IDO launchpad is a platform that allows new crypto projects to raise capital from an investor community. They use the advantages of decentralized cryptocurrency exchanges (DEXs) for their functioning, which makes them a favorite among crypto investors. As far as Avalanche is considered, the network’s developers have been focusing on making it a haven for DeFi applications, making it possible for an IDO launchpad venture to thrive. Also, since the blockchain has offered so much promise, which has been going well so far, more crypto businesses are expected to get onboard Avalanche to yield the benefits.
Building an IDO Launchpad on Avalanche – A Stepwise Guide
- We first start with collecting the ideas together and framing the whitepaper for the platform. Plans are made on the business concentration, technology to be used, and other contributing factors.
- Then, front-end development is performed, as the user interface (UI) and user experience (UX) features are created in this phase.
- Then, back-end development is performed, where the features relating to the actual functioning, security, and robustness of the platform are built.
- Native tokens for the IDO launchpad are created afterward with all the necessary utilities.
- Then, the IDO launchpad platform is extensively tested, and errors are resolved to ensure a bug-free platform.
- Finally, the platform is released for public use, and suggestions or new defects can be resolved in future upgrades.
Advantages of Having an IDO Launchpad on Avalanche
- Your IDO launchpad can handle multiple transactions simultaneously, thanks to the high TPS value provided by Avalanche. This makes hyped IDO listings get distributed without hassles.
- The finality values offered by Avalanche (<1 second) mean that your customers can have a great experience using your platform. As we know, great experiences give returning customers.
- Since Avalanche ticks all the points for the “Ideal” blockchain, you need not worry about your IDO launchpad platforms as the possibility for total failure is very low.
- Also, the network offers you a vibrant user base, as more people are flocking to Avalanche owing to its benefits.
- Your IDO launchpad can also easily adapt to multiple blockchains as Avalanche allows the use of virtual machines to interact with other blockchains.
How Does Blockchain App Factory Help You Here?
Blockchain App Factory is one of the big names in the crypto world, owing to its longevity in the industry. Our services for developing the IDO launchpad on Avalanche mainly focus on fulfilling all your requirements. Since Avalanche is still in its nascent stage, it is wise to get in as early as possible as you can get all the required knowledge to pave the way for future businesses on the blockchain. An IDO launchpad is the perfect choice for a venture on the blockchain as experts estimate that many new entrepreneurs could choose Avalanche as their base, and IDO launchpads can fuel their capital requirements.