More and more crypto projects, after reaching an established status in the crypto space, start offering launchpad services in order to enable other smaller projects to reach the market.
That service does not come out of pure kindness of heart, as these projects often have to pay these launchpads in order to access their services. Besides, offering launchpad services can appear beneficial for larger projects as it leads smaller projects to deploy on their blockchain, increasing their network traffic and further establishing their status in the field.
This article will present two leading projects which have started to offer such launchpad services recently, and another more recent one which you definitely won’t know and is worth keeping an eye on!
Binance (BNB), a blue-chip cryptocurrency
Binance (BNB) is one of the world's most popular cryptocurrency exchanges, along with Coinbase, Kraken, and FTX.
Its native currency, BNB, soared over 1,300% in 2021, outperforming even market leaders such as Bitcoin (BTC) and Ethereum (ETH), and making early investors significant returns.
With the most recent market drop, BNB’s market cap fell just above $50 billion, yet remains the 4th largest cryptocurrency by market cap after Bitcoin, Ethereum, and Tether (USDT), telling a lot about this project’s solidity.
Binance developed two proprietary blockchains, Binance Chain and Binance Smart Chain, the latter being EVM (Ethereum Virtual Machine) compatible and able to process over 150 transactions per second (TPS), a significant improvement from Ethereum’s 15 TPS.
On top of that, Binance currently one of the most complete, if not the most complete ecosystem within the crypto world today. Indeed, Binance also developed a launchpad in order to help emerging projects to conduct successful Initial Coin Offerings (IDO), Initial DEX Offerings (IDO), or other go-to-market strategies.
Purchasing some BNB is the best and most direct way to gain exposure to this fantastic project which has been growing at a meteoric pace since last year. Besides, the Binance team uses one-fifth of its revenue every quarter to purchase BNB coins on the market and burn them.
This mechanism reduces the number of BNB coins in circulation and makes each single BNB coin progressively more valuable over time, making it a great asset to counter the current historical inflation.
Klaytn (KLAY), the GameFi one-stop shop
Klaytn (KLAY) is an open-source South Korean blockchain platform launched in 2019 that focuses on gaming finance (GameFi) and metaverse projects.
Klaytn is one of the first projects to offer an end-to-end metaverse and game development package to gaming studios, allowing them to easily develop blockchain-based games by having access to all the necessary tools and software in one place.
This all-in-one package developed by Klaytn notably includes software development kits (SDKs), digital smart contract libraries, built-in crypto wallets, data-tracking oracles, Layer 2 solutions, blockchain bridges, among the most notable tools.
With this product, Klaytn currently offers one of the most complete and thorough blockchain-based game development kits on the market, allowing emerging gaming projects to launch easily.
After experiencing tremendous success in South Korea and East Asia overall, Klaytn is now ambitioning to expand to Europe and the US, where there remains strong demand for blockchain-based gaming and metaverse initiatives.
Klaytn’s native currency, KLAY, has discreetly but firmly installed itself in the top 50 largest cryptocurrencies and is now trading around $0.47 at press time. Keep an eye on this project’s developments in the coming months!
BoostX, a promising launchpad in the making
BoostX is a recent launchpad platform which has been quietly making its way throughout the crypto world over recent months.
Despite its recency, BoostX has already partnered with a number of emerging projects currently conducting their IDO. Notably, BoostX is currently accompanying emerging projects such as Seesaw Protocol (SSW), Firepin (FRPN), Explora Chain (EXPL), Quitriam Finance (QTM), and others through their entire go-to-market process.
BoostX displays a well-rounded offering, enabling the launchings on multiple leading blockchains, notably Ethereum, BNB Chain, Solana (SOL), Polygon (MATIC), or Terra (LUNA).
Unlike Binance or Klaytn, BoostX focuses exclusively on launchpad services, at least for now. This choice was a strategic one, as it enables the BoostX team to focus on its core activity and avoid spreading its focus on other less relevant services, especially given the project’s young status.
However, this lack of diversification could make BoostX over-dependent on its launchpad offering, which could become risky during volatile times such as the current ones. Surely, BoostX could gain in diversifying its offering moving forward in order to remain competitive given the fierce competition existing in the crypto world.
As a result of its focus on launchpad services, BoostX hasn’t issued a native token for now, unlike Binance and Klaytn. Nevertheless, that is a development that can be expected in the future, and it is fair to assume that the BoostX team is likely already considering such an idea.