Fanpad

Challenges

FanPad aims to become a kick-starter fundraising platform for potential Fantom projects. However, several challenges stood in the way of achieving this goal:

– Unfair distribution mechanism: Most launchpad platforms currently employ a distribution mechanism based on the quantity of launchpad tokens held. Larger token holdings result in a greater allocation of new project tokens. This approach presents a less equitable distribution as the benefits are heavily skewed towards individuals or entities with substantial capital.

– Inefficient fundraising: Existing launchpads often utilize allocation mechanisms that divide the available tokens into various pools. Consequently, many IDO events struggle to reach their intended hard cap.

– Lack of comprehensive support beyond funding: Many traditional launchpads primarily concentrate on the initial fundraising stage. Following the token sale, projects are frequently left to independently manage the complexities of development, marketing, and security. This lack of extended support can cause promising projects to falter due to insufficient expertise or resources in these critical domains.

– Risk of scam projects and poor investment quality: The decentralized nature of blockchain, unfortunately, can attract malicious actors. Many launchpads encounter difficulties in effectively vetting projects, leading to users investing in fraudulent or fundamentally unsound ventures.