Magic Square, a Binance-backed Web3 platform, announced the launch of Magic Launchpad, a new Initial DEX Offering (IDO) platform set to facilitate fundraising and enhance growth of the Magic Square ecosystem, as per the information shared with Finbold on May 20.
Magic Launchpad is a versatile, multi-chain platform designed to uphold high project standards through a detailed application process overseen by the Magic Square team.
Democratizing Web3 investment opportunities
By prioritizing transparency and providing fair access to investment opportunities, Magic Launchpad levels the playing field for projects of all sizes and stages of development.
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Andrey Nayman, Founder and CEO of Magic Square, remarked on the importance of Web3 democratizaton, stating:
“By deeply integrating with Magic Square’s existing infrastructure, we are poised to redefine how early-stage projects raise funds and gain support in the Web3 ecosystem. Magic Square has democratized the App Store process and now we are doing the same to investing by lowering the barrier to let our community back cutting-edge Web3 projects. Projects that raise through Magic Launchpad don’t just raise capital; the deep integration with our existing infrastructure means they can build a community like never before.”
Magic Launchpad offers a variety of IDO formats, giving the community wide-ranging access to the latest Web3 innovations.
Users can stake SQR tokens to earn SQRp points, which determine their allocation sizes for certain project launches.
Additionally, some IDOs may be structured as whitelist events or private rounds, providing diverse participation opportunities for investors.
Magic Launchpad: the Road-to-IDO campaign
One standout feature of the Magic Launchpad is the Road-to-IDO campaign, which precedes every IDO.
This initiative allows users to earn token rewards by engaging actively with the project’s community and platform before its launch on Magic Launchpad.
The inaugural IDO on Magic Launchpad will be for Storm Trade, a cutting-edge perpetual decentralized exchange (DEX) on the The Open Network Foundation (TON) blockchain.
Supported by Ton Ventures, Storm Trade integrates with Telegram to offer trading with up to 50x leverage across various markets.
The release of the STORM token
To celebrate the launch of Magic Launchpad and the upcoming release of the STORM Token, Storm Trade is allocating 5,000,000 STORM tokens (approximately 0.05% of the total supply) to the Road-to-IDO Campaign.
Storm Trade features high-yield liquidity pools, social-fi elements, and a user-friendly interface, all paired with robust decentralization.
With Magic Launchpad, Magic Square is set to transform the fundraising landscape for nascent Web3 projects, fostering a more inclusive and dynamic community.
