DeFiDrop, a new project that aims to offer launchpad and incubator services for other DeFi projects, recently finished its own private sale, selling 7.5 million tokens for $750k in under 2 minutes.
DeFi (decentralized finance) has been a constantly growing sector of the crypto industry ever since it first went big in mid-2020. New DeFi projects are emerging all the time, and with sector’s popularity, there is also a need to simplify the launching and ease the growth of these projects through careful moves. In other words, the sector is very competitive, and in order for your project to succeed, you need to have a good strategy and know what you are doing.
Unfortunately, most people who have an idea with potential don’t have the time, the money, or the necessary knowledge to attract the masses early on. But, they can still use third-party projects to help them get started, and DeFiDrop aspires to become one such company.
What is DeFiDrop?
DeFiDrop is a project that recognized the need to have a simple, yet convenient launchpad for new and emerging DeFi protocols. Of course, there are plenty of launchpads out there already, but many of them feel generic, and they don’t tailor to decentralized finance specifically, let alone to every specific project.
DeFiDrop takes a more personal approach, and it offers another service — an incubator — that provides another secured venue for projects that launch through its launchpad and their teams.
There is also a big misconception about projects whose teams prefer to stay anonymous. A lot of people assume that the team is incompetent or trustworthy, or that they don’t want to be held accountable for anything that might go wrong with the project. This is false, and a lot of great DeFi projects have failed because people did not want to support an anonymous team. What people also fail to realize is that being transparent about the team is also accepted rather badly a lot of the time, as people tend to criticize the team or judge its members and PR skills.
By proving itself trustworthy and then helping these projects get a good start, DeFiDrop can guarantee that all projects that get selected to go through its launchpad and incubator will be legitimate and reliable.
DeFiDrop’s impressive token sale
It is worth noting that DeFiDrop recently held its own token sales. The private sale was extremely short, as the project managed to sell all of the designated tokens in under 2 minutes.
Around 7.5 million DROPS tokens were sold for 650 BNB, or around $750k. The project also held a public presale, which took a bit longer, but the supply of 20 million tokens was still sold out within a single day.
What else is there to know about DeFiDrop
A few details that should be noted about DeFiDrop’s launchpad is that it will be cross-chain, just like its token. The project will also offer staking and LP staking programs, with DROPS stakers governance for upcoming IDOs. The project will also conduct token buybacks, followed by token burning events periodically. That way, it will ensure that the coin will have a steady rise as the demand grows, which it undoubtedly will.
The project has also partnered with some very influential sector names, including DeFiBoost, HashEx, CryptoEx, and UniMex, all of which are fairly young but extremely successful businesses.
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