BCHPad: SmartBCH First Launchpad

October 18, 2021

Ever since I stepped foot into this crypto world, it seems like this world has been invaded with frauds and scammers. They were everywhere, waiting for prospective victims to bite their baits. They will show you promising projects that could mitigate your financial problems, but you'll end up losing more and putting many investors, small and big, into debt.

A staggering amount of money can be seen in DeFi rug pulls. DeFi system could give financial freedom and solve the poverty of small investors. However, there are greedy people out there who are taking advantage of this opportunity to loot money for their own sake. And that's the reason why DeFi developers are continuously developing security applications to solve this issue.

When SmartBCH started to grow exponentially, several scammers invaded the ecosystem to loot money from the BCH community. And those who wanted to get quick bucks have fallen into their hands.

If you want to know about rug pull issues on SmartBCH, I recommend you to read these articles by Morgie.

MoreGainStrategies: Another Day, Another Rug Pull On Smartbch

I Woke Up In The Middle Of The Night Just In Time To Get Rug Pulled

And here are the names of SEP20 shitcoins:

• YFI: Also called Yearn Finance. Sounds cool for a DeFi platform and it actually rang the bell. In fact, it is an existing DeFi name launched last February 2020. The dev of YFI probably copied the name to fool more investors.

• MCASH: It is supposed to be the first SEP20 token to be listed on Binance, that's what they've said to attract more investors.

• LEAP: Recently conducted a presale and looted money from those who participated in the presale.

For the newbies who don't know the meaning of rug pull,

Rug Pull means the developer(s) abandon the cryptocurrency project after stealing the money of the investors.

To mitigate the issue of rug pull and scams on SmartBCH, BCHPad has been launched.

What is BCHPad?

BCHPad is a decentralized IDO (Initial DEX Offering) protocol built on SmartBCH so new projects can raise funds and kickstart their projects in a decentralized and permissionless manner. The project aimed to solve the issue of rug pulls and scams on SmartBCH and provide security of the investors' funds.

Reference: https://www.bchpad.cash/

If you are familiar with Binance Launchpad, then you can grasp hold of BCHPad. It won't only help to mitigate the rug pulls but will also help new projects to be discovered by investors before they entered into the mainstream.

Some Features of BCHPad includes:

• LOCKED LIQUIDITY: To protect the project from being dumped, the project owners are required to lock a large portion of their team's token on the platform.

• FULLY DECENTRALIZED: All auction processes are transparently done through the DApp.

• COMMUNITY REWARDS: BCHPad token holders will be rewarded with the token of the new project that will conduct presale on BCHPad.

• FREE AUDIT BY 3RD PARTY (Coming Soon): Any project that will raise fund through BCHPad will be eligible for free auditing before listing.

Reference: https://www.bchpad.cash/

BCHPAD token holders will also be eligible for voting on governance proposals such as adding new features to the LaunchPad.

THE TOKENOMICS:

BCHPad has a total supply of 50M BPAD tokens and 7.5M of which goes to Presale.

New Smart Contract Address: 0x9192940099fDB2338B928DE2cad9Cd1525fEa881

A presale was conducted on October 12 and runs for 6 days.

Soft Cap: 20 BCH

Hard Cap: 100 BCH

Presale price: 0.00001 WBCH

Investors who participated in the presale were required to wrap their BCH in order to buy BPAD, with a minimum contribution of 0.1 WBCH and a maximum contribution of 4 WBCH.

The presale will end in less than 10 hours from the time of writing (4:30 pm 10/18/21) but if the 100 BCH Hard Cap is hit before the allocated time ends, there will be voting to decide whether to launch on that time or later. The platform currently raised a total of 98.23 BCH.

So if you want to participate the presale, simply:

• Navigate to BenSwap

• Swap the BCH to WBCH you wish to commit

• Open this link https://app.bchpad.cash/ on Metamask browser

• And click participate (pop up windows for the gas fee will appear twice)

• Then Confirm

THE ROADMAP:

After the presale, BPAD will be listed on MistSwap so users could put their tokens on the farm. Audit will follow as well.

Litepaper is also available on the website and the whitepaper will be revealed by November. You can check this link to download the Litepaper https://www.bchpad.cash/litepaper.pdf.

By 2022, more features and contracts will be added to the LaunchPad.

For more info and latest updates, visit these links:

Website: https://www.bchpad.cash

Telegram: https://t.me/bchpad

Twitter: https://mobile.twitter.com/bchpad

In regards to the Presale, here's a note from the developer in case you are not a member of the telegram group.

From: Rhyker

Hey BPAD community their is a minor issue with the distribution of tokens in the contract in the case that once the sale is over, users that claim on time will be able to withdraw their tokens and other users won't be able will be able to claim tokens because the contract will be left empty with no token.

So the fix for this; I will be taking a snapshot of all users that sent WBCH when the sale was live and will be airdropping the new deployed tokens to participants which means their will be no need to claim tokens from the web as it will be airdropped. If you still intend on claiming from the DAPP, you'll just be wasting gas fees and be holding a valueless token.

You might ask why not send more tokens to the contract so it'll be distributed fairly and all participants will be able to claim. it doesn't work like that because on deployment of the contract I already initialized a fix amount of tokens that will be ready for the presale which was 7.5M meaning if I send more tokens to the contract, it'll ignore the amount which was sent because it was already initialized from the start.

How do I intend on fixing this for any future purpose; I will re-construct the contract so it will still be able to take in more deposits if the situation arise again similar to how DXSale operates and will have this audited ASAP.

I would like you all to know that all participants funds are safe

New Token Contract: 0x9192940099fDB2338B928DE2cad9Cd1525fEa881

To ensure that the project won't fall into a scam, BPAD LP tokens will be locked for 365 days as well as the team tokens for a week but will be relocked again once unlocked.

You still have time to commit, don't miss it out. But of course, conduct due diligence before taking any actions. And again, only invest what you can afford to lose.

Thanks for reading.

Edited: The presale ended at around 12:30 pm UK time. The token will be launch once the allocated time ends and will be airdropped to participants. It will be listed on MistSwap for farming.

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Thanks!