With a huge launch on BSCPad here comes a brand new launchpad for the Tron network: TronPad. This project was only launched 1 week ago but already has thousands of token holders and huge volumes, as it is the only launchpad on Tron so far officially backed by Justin Sun, the CEO of Tron. Now let’s see how TronPad works and why it could be a gem to keep an eye on to discover new projects with strong ambitions!
TronPad – The Launchpad Backed by Justin Sun
Following the example of BSCPad, the TronPad team has finally decided to bring something new to the Tron network by launching new projects. These launches are called IDOs, or Initial DEX Offerings, and they almost always work the same way: You buy a bunch of TronPad tokens and put them into staking and then wait for new projects to launch and get the right to participate in these new upcoming IDOs. No one can guarantee the success of an IDO, but usually the first crypto projects to be launched through these services are always very successful, thanks to the hype behind them. And we are sure that Justin Sun will continuously support the project, so we could expect some surprises in the first IDOs.
In fact, TronPad will work a bit differently from other launchpads in that it will have two IDO phases: a first phase without the need to hold tokens in order to participate in the IDO and a second phase where you can get guaranteed spots by holding tokens on the platform. In this case, you will not have to beat super prepared bots that usually act in these auctions first come first served. In short, a launchpad that will try to be fair for all participants, especially for the supporters of the platform itself.
Each IDO that will pass through TronPad will be divided as follows: 5% for the lotteries open to all, 25% for the Earth and Moon categories (holders of 15,000 and 50,000 tokens) and 70% for those who are part of the MARS category, i.e. holders with at least 200,000 tokens on the wallet who will always have guaranteed spots! At the moment the cost for a single TronPad token is 17 cents, so to get guaranteed spots you have to pay at least 34,000 dollars. That’s a lot of money, but it’s easily recoverable if you’re lucky enough to catch some successful IDOs in the future.
The TronPad token
As mentioned above, the token was launched via the BSCPad platform at a very low price: 0.001 cents per token. A total of 3991 participants took part in the IDO, raising around 150,000 BUSD. The current price is much lower at 17 cents. The highest price was 3 days ago and was over 30 cents. Since it has been listed on CoinGecko, the TronPad token has never dropped below 13 cents, so if you are hoping to see prices close to those of the IDO, you are surely mistaken.
TronPad’s Max Supply is 1 billion tokens, so the fully diluted marketcap at the moment is about $170 million.