Overview
SOLPAD is the decentralized IDO platform built natively on Solana with TRUE multichain support. The main aim of Solpad Finance is to solve the illiquidity problem of the Solana Ecosystem and to provide the one harmonized UX/UI using our platform.
Furthermore, Solpad Finance is backed by the most reputed VCs and partners within the Blockchain Industry.
SolPad products consist of:
- Launchpad — with fair distribution. Tiered structure and guaranteed allocations for Token Holders.
- AMM DEX — help bridging tokens from Solana to other Blockchain (ERC20, BSC20, etc…)
- Multichain wallet — allow users to store, transfer and swap digital assets on different chains.
SolPad is starting off with Launchpad for Solana ecosystem followed by Etherium bridge in Q3 2021 and Binance Smart Chain bridge in Q4 2021. More chains to be bridged in Q1 2022 [1].
SolWallet milestones include UI completion in Q3 2021, Multichain support in Q4 2021, Beta release in Q1 2022, Mainnet and NFT support in Q2 2022.
Another major milestone: CEX listing is scheduled to Q3-Q4 2021.
Recent market adoption of the DeFi and the big success of Launchpads opens up big perspectives for those who can take the leading position. We saw launchpads conquering Ethereum blockchain, followed up by BSN competition. Solana is fairly new and there is still enough room on the market but the competition already exists.
Project features
SolSwap
SolSwap is a built-in DEX project incubated on SolPad that will instantly list on SolSwap. SolSwap was built to become a multichain DEX connection between Solana and other blockchains.
Solswap works like any other AMM DEX, with a simple UI that allows users to transfer assets with just 1 click. Under the surface, SolSwap will work as a bridge, to connect between 2 different chains.
On a simple level, when a team with ERC/BSC token wants to create a SPL token, SolSwap will help them to delay a version of SPL, while validating that the equal tokens on ERC/BSC get burnt.
According to the team, the main reason SolPad is built to become a Multichain Platform is to give projects the means they need to thrive, on any chains that are available depending on the needs of the projects. Some are eager for speed, others will be looking for blockchains with rich ecosystems. The future of Blockchain is multichain and the SolPad is to deliver.
SolWallet
SolWallet is looking to solve the complexity of multi-chain investments and assets management with an all-in-one chain agnostic wallet. Although Solana brings in innovation and opportunities, the entire crypto ecosystem will exist on multiple networks. SolWallet, brings an effective cross-chain infrastructure.
In short, with SolWallet, users can:
- Store and transfer digital assets irrespective of their native chains.
- Connect to blockchain applications on different chains
- Swap seamlessly between protocols.
- Manage and track digital assets on different chains.
SolPad
SolPad, to become “not another Launchpad”. The goal of our platform is to become a fully functional ecosystem that connects blockchain startups and investors to give everyone easy access to approach the Solana ecosystem. Furthermore, Solpad will act as a kickstart to give projects every means they need to succeed, including a launching platform, incubating support, and infrastructure support.
The goal of Solpad is to become the go-to IDO platform integrating all major Layer 1 chains. That is the reason why SolPad will become the first Multichain project built on Solana
SolPad will give everyone an equal chance to join IDO. There is a pooled structure to give everyone a fair chance to participate in the upcoming IDO, just by staking our token PAD:
Investments and Strategic partners
SolPad has locked $2.1M of the hard cap in its Seed & Private Sales rounds on Mar 14th, 2021. It’s backed by Tier1 investors including Au21, AV Star Capital, Arcuate Capital, Black Mamba Ventures, Chainstride, DCI Capital, DAS Kapital, GD10 Ventures, Genblock, Grizzly Capital, Magnus Capital, Moonwhale Ventures, Infinity Capital, Trensettle Ventures, Raven Capital.
Also has a strategic partnership with A2DAO, GourmentGalaxy Labs, and Nodeseeds.
Strategic investors:
- Au21 Capital — no mentions
- Genblock — no mentions in the portfolio. Genblock retweeted SolPad’s investors tweet on May 5th
- GD10 — not mentioned in the portfolio. Retweet of SolPad post on May 14th
- Moonwhale — not mentioned in portfolio
- Black Mamba Ventures — mentioned in multiple retweets starting Apr 23rd
- Magnus Capital — no mentions
- OPW Ventures — mentioned in the portfolio. Also mentioned in multiple retweets.
- Arcuate Capital — mentioned on Twitter
Strategic partners:
- GourmetGalaxy Labs LLC — mentioned on Twitter
- A2DAO — mentioned on Twitter and telegram
Team
Rayane Hocine — CEO. Studied in Paris, London and San Francisco. Has Master of Science in Business entrepreneurship & innovation and also passed the HEC at Strategy certification in Business and corporation strategy in 2017. Former CEO & founder of Magna numeris, a blockchain startup based in Paris and incubated at The garage. Magna numeris was focusing on building decentralized applications for retail, bringing traditional companies from web 2.0 to web 3.0.
Abdelhamid E — CTO. Experienced Chief Technical Officer with a demonstrated history of working in the information technology and services industry. Skilled in Management, BlockChain, DevOps, Software as a Service (SaaS), Micro Services, and Agile Product and 4 years working at Google where he has a lot of experience in professional project management.
Julian Ong — CMO. Completed his Bachelor of Finance (Hons) at the University of Tunku Abdul Rahman from Malaysia with a First Class Degree Honours. He has also passed the first level of Chartered Financial Analyst (CFA). He was the Country Manager for SnapEx in Vietnam. SnapEx was a leading crypto trading platform that allowed traders to profit from crypto market movements without actually holding crypto assets. SnapEx had an especially strong presence in Southeast Asian Countries such as Vietnam, the Philippines, Indonesia, Malaysia as well as Korea, and India.
Social networks presence
Twitter account @FinanceSolpad started in Oct 2009. The first tweet is made on Apr 23rd, 2021. Currently, there are 3343 followers.
Telegram Channel https://t.me/solpadfinance started on Apr 20th, 2021, and has 1354 subscribers.
Telegram Chat https://t.me/solpadfinance_chat started on Apr 23rd, 2021, and has 1891 members.
The first article on Medium https://solpadfinance.medium.com/ is dated on Apr 26th, 2021.
Github account https://github.com/solpad-finance is actively updated.
Tokenomics
Token utility
The $PAD is SolPad Utility Token. Runs on Solana (SPL), and will be bridged to BSC and Ethereum in the future. There are technical and ecosystem utilities available to $PAD holders:
Technical Utilities:
- Voting with the Token
- Governing with the Token: By using the DAO structure, PAD holders can participate in decisions of the platform: deciding pools ratio on upcoming IDO, a vote which IDO to launch etc.
- Staking
- Liquidity Mining
Ecosystem utilities:
- Listing at SolPAD App wallet
- Airdrop to PAD holder users
- Staking to participate in SolPad IDO.
- Incentives/ Liquidity Rewards: reward to Liquidity providers and to Farming platform
Token distribution
Total token supply is 1,000,000,000 PAD ($2,676,000 Hard cap) with the initial supply of 57,700,000 PAD (5.77% — $923,200)
Funds usage
Tokens release schedule
Public sale tiers
Tokens price will be separated into tiers, based on the overall tokens distribution.
Competitors
Although SolPad is using the word “first” it’s not the only launchpad aiming to capture the Solana ecosystem. Most of the competitors are also starting out so the team is working against the time to be the first on the market.
Also, multichain support doesn’t look a unique selling point as other projects are also aiming to eventually bridge other blockchains.
Solstarter
Solstarter (https://solstarter.org/) is the first decentralized fundraising and Initial Distribution Offering (IDO) platform on the Solana blockchain with fair distribution and guaranteed allocations.
The Twitter account currently has 205.9K subscribers vs a little more than 3k subscribers on SolPad.
Telegram chat has 155,410 members and the Announcement channel has 32,059 subscribers.
Partners
Tiers
Tokens distribution and locks
Roadmap
Team
Advisors
Conclusion
Solstarter is a direct and very serious competitor with big funds under the belt, a strong team, and a very similar solution.
Solstarter aims to implement Trusted Swaps in Q3, 2021, and Multi-chain Sales in Q1, 2022 [2] so SolPad has almost no time to be the first solution out there.
With a solid team with a proven track record, Solstarter has very good chances to achieve its milestones.
Another big competitive advantage Solstarter has is massive marketing support. Their Twitter account currently has 205.9K subscribers vs a little more than 3k subscribers on SolPad. Whitelist applications maxed 100k limit in less than 24h and ended up exceeding 200k applications.
Solanium
Solanium (https://www.solanium.io/) — The Solanium platform is a decentralized platform on the Solana blockchain. The platform will introduce decentralized fundraising, time-weighted token staking, and governance voting to the Solana ecosystem.
Twitter account has 159.9k subscribers.
Telegram channel has 141,686 subscribers and Telegram chat has 125,833 members.
Partners
Roadmap
Tokenomic
Type: SPL Token on Solana
Ticker: SLIM
Total supply: 100,000,000 SLIM (fixed)
Token contract: xxxxa1sKNGwFtw2kFn8XauW9xq8hBZ5kVtcSesTT9fW
Initial circulating supply: 30,000,000 SLIM
Initial market cap: $6,000,000 USD
Private sale price: $0.133 — $0.183 USD
Public sale price: $0.20 USD
Conclusion
Solanium is one more project with massive marketing support. Though its roadmap and plans don’t look as ambitions. It is also solely dedicated to the Solana ecosystem with no current plans to bridge other chains. Also, there is no information about the team.
SolaPad
SolaPad (https://www.solapad.org/) — no information about the team, funds, or anything. Most likely a scam.
Though their Twitter account has 61.9k subscribers.
Conclusions
The team has ambitious goals with huge potential. If they will be able to deliver AMM, multi-chain launchpad, and chain-agnostic wallet — the company will be huge.
On Solana launchpads competition is still low which increases the chances for the company. Also, the company products stand them out among competitors.
SolPad is also backed by some of the best funds which is also a very positive sign. So we have an ambitious team with big plans and strong support. Tokenomics is also strong. So the project has a huge potential.
But there are also a few worrisome:
- Surprisingly the marketing support is currently a weak link. There is almost no visibility on the market for the project. Telegram and Twitter accounts have just a few thousand subscribers and there is almost no activity happening. This can be solved quickly of course, but compared to the other competitors with over 150k and 200k subscribers it raises questions.
- The team doesn’t seem to have a track record. Previous Rayane’s company Magna numeris didn’t go too far. Marketing is still a question
- There are at least 2 strong competitors on the verge of their IDOs working on very similar projects with massive support already. Their products may not be as great at the moment, but there is nothing stopping them from pivoting. Given how much support they have.
Links:
[1] https://docs.solpad.finance/abstract/roadmap
[2] https://solstarter.org/files/solstarter-whitepaper.pdf
