Today’s analysis on Cardano’s current price action looks bearish. There is strong evidence on the Point and Figure chart to suggest that a turnaround is incoming on Cardano which has prompted investors to sow more in Cardano based projects.
Rocketpad an IDO Launchpad on Cardano blockchain is booming in the sky as $Rocket token presale kicks off today, To Participate click the link: https://www.rocketpad.community/seed-sale-page
Rocketpad is a community IDO platform built on the Cardano blockchain. At its core, Rocketpad was created to enable startups and new businesses to raise capital to scale their operations in a decentralized and transparent manner.
In order to achieve this lofty mission, the team at Rocketpad is pleased to announce the release of its MVP, The presale has been christened “A History about to repeat itself”.”
Those that didn’t have the opportunity to join the seed sale can now join in the Rocketpad project. In the coming weeks, Rocketpad aims to be listed on major exchanges, with an announcement to be made soon.
The Utility Token
$ROCKET is the utility token of ROCKETPAD and its multiple use-cases is built on the Cardano Blockchain which will power the ROCKETPAD Ecosystem, $ROCKET Token will be used as a subscription token to navigate our Rocketpad IDO Launchpad.
$Rocket Multiple Use-Cases are as Follows:
Launchpad:
Rocketpad creates a fair and completely decentralized IDO launchpad platform that benefits the token holders. The users will be whitelisted based on the amount of $Rocket held in their wallet, the more $Rocket the user holds the more chances of getting whitelisted.
We’ll keep the community safe and discourage rug-pulls by using secure listings. Verification of critical information, such as: Metrics for the project who’s in charge of it? Tokenomics, An overview and examples of how it may be used. The most recent development updates.
A summary of current events and the surrounding communities would be thoroughly checked.
Staking $Rocket:
Staking involves delegating tokens in wallets for a specific period to participate in the governance of the network. Staking is common with Proof-of-Stake (PoS) projects which involves validating transactions on the particular networks protocol, creating a new block and distributing newly minted coins as staking rewards.
The tokens are taken out of circulation and the event is used to accumulate value for them. Therefore, $ROCKET tokens may be staked in the Staking contract to get more tokens as a reward.
Liquidity:
Liquidity is the ability of an asset to be easily exchanged for another without affecting its value. $Rocket tokens may be exchanged for other tokens on the blockchain, allowing players to supply liquidity and form a market.
Swappers are charged a modest fee for purchasing $Rocket, and liquidity providers are paid a return on their deposit in exchange for this.
There is an auto-liquidity feature that adds a certain percentage of each transaction to the amount of liquidity provided.
Token Burn:
Rocketpad will implement a manual token burn within its features. The burning of tokens involves the permanent removal of existing $Rocket tokens from circulation.
This is a quite strange feature in the cardano ecosystem and as a result of that $Rocket is designed to outperform others.
Governance
$Rocket is a Rocketpad utility token that give users voting and management power. This is extremely important in a DeFi situation where the power balance is required. You can vote on proposals relating to an IDO using $Rocket tokens.
Rocket as a governance token ensure that blockchain participants’ perspectives are heard when making decisions about co-debase and its management.
These tokens can also be used to specify the rules that govern how blockchain does transaction and block verification. Therefore, it is also possible to use $Rocket to vote on patches and updates for current programs.
Rocketpad provides investors with a guaranteed allocation. As they use a pool weight system to determine the size of allocation for each participants.
In a nutshell, the goal of raising funds for the project is divided by the pool collection of all participants, each of whom receives a fair share in terms of the weight of their pool to the original.
It uses the Tier system to determine the amount one is entitled to contribute. For instance, People on the top tier of the launchpad may pool larger pool weights since they are in the top tier of the launchpad.
To put it another way, the higher your tier, and the more money you will be able to contribute to the launch of the new initiative.
The bigger the pool weight, the larger the percentage of the IDO that you may purchase with ADA Cardano. Further details at: https://app.rocketpad.community/tier-system.html
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$ROCKET token is a Cardano native token, so you can participate by sending ADA to the Pre-sale address using any Cardano Supported wallets which include but not limited to the following below.
Yoroi Wallet
Daedalus Wallet
Adalite Wallet
Nami Wallet
Social Media Handles:
Twitter: https://twitter.com/Rocketpad2
Telegram: https://t.me/RocketPadproject
Medium: https://medium.com/@RocketPad2
Facebook: https://www.facebook.com/RocketPad-Community-104445882033416
Website: https://rocketpad.community/
Source: https://coinpedia.org/press-release/rocket-set-to-be-listed-on-exchanges/