We can’t hide the fact that on DeFi.cx we love to talk about launchpads. We have already reviewed many similar projects, starting from CardStarter (Cardano’s launchpad) to Polkastarter (maybe the most famous launchpad in the world?), without forgetting Bounce Finance and many others. Today we want to review a similar product that can be found on the official Sushi website, called MISO. MISO stands for Minimal Initial SushiSwap Offering and now you’ll understand why it is one of the launchpad platforms to keep an eye on, both to find new interesting projects and to launch your own project!
How does MISO by Sushi work?
Miso is a very special launchpad because, unlike most of its competitors, it offers a complete solution that ranges from the creation of the token itself to the final fundraising. The “Tokens” option allows the creation of an ERC20 token by deciding the maximum supply, the circulating supply, whether the token should have a MINT function and so on. Then there is “Markets“, the feature where you can choose the type of fundraising, i.e. whether it should be a one-time or multi-stage fundraising. In order to gain trust among their token holders, token creators can also decide to automatically set up a liquidity POOL on Sushi once the IDO is over (using part of the funds collected). “Fermentation” will instead be used as an escrow or vault where tokens can be closed and released a little at a time, without creating initial dumps. And finally, there is also the “Farm Produce” option, through which you can use the token to create farming pools with one click! Overall, from the FOUNDER’s standpoint the project is a blast and will help you launch your token even if you don’t know a single line of code!
The smart contracts used by MISO by Sushi are simple and have already been audited, so you don’t have to worry about anything. At the moment the token created will run on Ethereum, but Sushi is working on making this project multi-chain as soon as possible. A special feature is the possibility to let only whitelisted addresses participate in the IDO, in order to make the fundraising even more exclusive. In this case, a timer can be set by which the selected addresses have to buy their share of tokens to avoid being excluded from the IDO. In addition to Fidex Supply and Mintable tokens, Sushi also allows the creation of forks of the Sushi governance token! Not bad, right?
The best option in my opinion is the ability to create IDOs not only with Ethereum but with any token you want! Standard choices include ETH and various stablecoins, but founders can decide to do a fundraiser using any ERC20 token.
To participate, users will need to open the official IDO link hosted on MISO, connect an Ethereum wallet such as MetaMask, CoinBaseWallet, Trust Wallet and so on and decide the maximum amount to invest. At the end of the IDO, the purchased tokens will be sent to your address without having to do anything else. In short, everything is very simple and suitable for those who are not crypto experts. If an IDO does not reach the Soft-Cap, you will receive your investment back minus the token transfer fee instead of the tokens!
On the IDO page you can always follow how much capital has been raised at that moment and how long the auction lasts, so you always know how many investors there are and how much interest there is in a given project. This information is definitely vital for a project, as in most cases strong projects are completed in a few seconds/minutes, while less interesting projects usually do not even manage to raise the set amount! Good luck with IDOs on Sushi!