Disclaimer: ErgoPad is a community-driven project and does not operate under the Ergo Foundation. The project was developed by a team that participated in ErgoHack and they are working on their contracts in the Ergo Discord with support from Ergo Core.
ErgoPad will be the first Launchpad on Ergo to host initial decentralized token offerings (IDOs). This type of dApp aims to kick start the development of various projects and token auctions on the blockchain, thereby allowing developers to raise capital.
Readers may recognize the term launchpad from some centralized exchanges (such as Binance, FTX, etc.), however there are also decentralized versions of launchpads. For example, MISO is currently a decentralized launchpad operating on Ethereum.
As is often the case with Ethereum, transaction fees can be extremely high and can deter the average investor, resulting in many users opting to use launchpads on centralized exchanges. Ergo aims to eliminate centralized points of failure and create an equal playing field for all participants.
As Ergo’s first IDO platform, ErgoPad offers users minimal fees on a blockchain that provides maximum scalability, privacy, and decentralization. The creation of a launchpad on Ergo is an important milestone as it potentially opens the door for both increased developer and investor activity.