Oxpad (Is oxpad worth a buy?). Read all you are required to know about this project that has an insane roadmap. In today’s review, I am going to work you through the entire process on how to get started with oxpad project if it worth a buy.
Table of Contents
What is oxpad?
0xpad is a multi-chain launchpad and a decentralized incubator protocol. It is a blockchain project that is set to decentralize seed funding and angel investing while bringing innovative ideas, projects, and opportunities to its supporters.
Their primary aim is to provide innovative projects with the support and resources they need to succeed. Such projects are either supported in the early seed funding stage through our incubator program or in the market entry stage through their launchPad.
How does oxpad work?
Participation type
People can participate in two ways; as guests or as members, the participation type determines the allocation the user receives. Guest participants receive the lowest allocation and it is not guaranteed while member participants receive a guaranteed allocation with ranging sizes depending on membership level or tier.
Guest Participation
A user who is not a member (not staking 0xPAD token or 0xPAD LP tokens) can still participate in IDOs as a guest. To participate as a guest, the following requirements need to be met:
Guest participants must whitelist their address in order to participate. It is recommended that a guest participant get his/her address whitelisted early, typically 48hrs before the IDO starts.
Whitelisted wallet need to hold 0xPAD tokens, the IDO allocation received by a whitelisted address is proportionate to the amount of tokens held. For example, if a whitelisted wallet holds 0 tokens during the IDO, such an address will have 0 allocations.
Additional steps may be needed during whitelisting. For example, a guest participant may be required to like and retweet certain posts during whitelisting. Take note: Guest participation allocation is not guaranteed.
Member Participation
A user who stakes his/her 0xPAD tokens or stake LP tokens of 0xPAD automatically becomes a member. A member enjoys so many benefits such as guaranteed IDO allocation, early access, staking/yield farming rewards, voting rights, and access to the incubator feature.
There are four different categories or tiers of membership, these are discussed in the order of lowest to highest tier as follows:
- Bronze membership
- Silver membership
- Gold membership
- Platinum membership
Tier-weight mechanics
0xpad uses novel tier-weight mechanics to ensure that every IDO allocation is fair for all participants. Based on the participation type or membership level, a user falls under a given tier that has a given max allocation, and depending on the token weight of the users, they get a weighted max allocation.
Staking
The Staking feature is made up of the 0xVault and the 0xMine pools, it allows users to stake their 0xPAD tokens and also allow them to farm 0xPAD token by adding liquidity on Pancakeswap then staking the LP tokens. The staking feature is also the mechanism for the membership tier system.
0xIncubator
0xIncubator is a decentralized incubator protocol that gives every member of the protocol the chance to participate in seed funding innovative ideas and projects. Members get to vote on the projects and projects that get at least 70% yes from at least 90% of the members of the protocol get incubated.
Roadmap of oxpad
Q3 2021
- Market research
- Project formation
- Products and features design and development
- Key mechanism development
- MVP testing and evaluation
- Seed funding raised
Q4 2021
- Website deployed
- IDO and incubation application open
- OxVault and Oxmine deployed on BSC
- IDO tier-weight mechanism designed and developed
- Token public IDO
Q1 2022
- First BSC IDO in Jan 2022
- First project to be incubated to be selected in Jan 2022
- Team expansion
- Incubator protocol deployed on BSC mainnet
- Marketing and partnership
- Target of 2-3 IDOs every month reached
- Target of 1 project incubated every 3 months
- Deployment of governance voting mechanism
Q2 2022
- Expansion to more blockcha
- Solana
- Ethereum
- Polygon
- MVP testing and evaluation
- Cardona
Conclusion
I am concluding this article in a way that if you have any opinion about this project whether negative or positive feel free to leave a comment in the comment section below for users to make an informed decision about this project. And also subscribe to our newsletter to get more updates about this project.