Diary of a Blockchain Fan – November 24th 2021

Thorstarter

Yesterday I took a run through Moonstarter and today I’m taking a look at a second new launchpad, Thorstarter. I very much liked what I saw over at Moonstarter, so how is this alternative going to measure up?

As with Moonstarter, Thorstarter has been launched with a view to addressing the problem of existing launchpads being blockchain specific, which limits the options for both projects looking to raise funds and for investors looking to participate. A highly commendable objective, to my mind.

More than this, however, Thorstarter has set out to use the cross-chain liquidity available on ThorChain to ensure new projects have access to good levels of liquidity for their tokens, something that is often a problem with IDOs, especially for small ones. It does this by using XRUNE as a stepping stone between the big liquidity pools available for the likes of BTC and ETH and the smaller pool of coins issued by the new projects.

Projects applying to use the IDO facility go through a vetting process to help ensure the quality of offerings is high. This is done by a DAO, which not only votes on proposals but also shares in the project’s proceeds from each IDO.

Projects making use of the IDO facility have a variety of options when it comes to the way they distribute their coins, including fixed price, dynamic price auction and several others. That offers a nice element of flexibility to project teams.

To gain access to IDOs you have to stake Thorstarter’s own XRUNE coins. This is done on a tiered basis, starting with 2,500 XRUNE for Tier 1 and goes all the way up to 150,000 for tier 5. The higher the tier you buy into, the greater your allocation multiplier for whatever IDOs you take part in. After that, when a new project takes your fancy, you rock up on the date of the IDO to make your bid for a piece of the action.

With XRUNE at around 40c that makes it roughly $1,000 to buy into this launchpad. It’s a fair sized commitment but not as substantial an amount as many other launchpads ask you to cough up.

By the way, you can stay in the ThorChain ecosystem to obtain your XRUNE by using ThorSwap.

I knew nothing about ThorChain prior to taking a look at Thorstarter, so the whole ecosystem was new to me and I’d like to take a closer look before I commit time and money there. However, I like some of the features offered by Thorstarter very much. As well as offering projects from a variety of blockchains and currently having a ealtively affordable entry price point, its focus on bringing liquidity to the table for each new project is highly commendable.

Take a look here if you would like to know more.

Until tomorrow…

Renaissance Man

Why this Diary?

I thought it might be an interesting exercise, as much for myself as anyone else, to keep a diary of my interests and activities in the land of the blockchain and all things crypto, so I’m going to give it a go at writing a short diary entry each day for the current month, November 2021. It will give me something to look back on and assess and it might offer up some entertainment and topics of interest to anyone who happens to read it.

The Usual Disclaimer

Please don’t take any of the above as financial or investment advice. It is intended to be nothing other than a little entertainment and information sharing. Always, but always, do your own research before committing your money to anything.