BSCPad Website Review
- BSCPad is the first Binance Smart Chain Network launchpad.
- It aims to help early-stage crypto projects raise funds from retail investors.
- Investors gain early access to innovative product features by engaging.
- BSCPad has a tiered token allocation system split across an Allocation Round and an FCFS Round.
BSCPad is a launchpad for the Binance Smart Chain Network. It essentially fills the role of being a platform that lets early-stage crypto-based projects raise funds from retail investors.
Additionally, BSCPad creates decentralized launches, which lets participants choose between a lottery tier or even a guaranteed allocation tier, and when a participant wins the lottery, they get a guaranteed allocation to participate within a two-round IDO system.
Let's dive into the BSCPad website and see how this platform works.
To truly grasp how simple the platform is to use and what kind of design language it follows, we will be going over the entirety of the BSCPad website.
When you first visit the website, in the middle of the screen, you are greeted with a clear message, indicating that "BSCPad is indeed the first decentralized IDO platform for the Binance Smart Chain Network, alongside direct links for the following websites:
- The All Projects Page
- PancakeSwap buying Page
- Apply for IDO Page
- Buy on MEXC Page
- Buy on Gate.io Page
Under these, you will find the official Telegram page, the official Medium page, and the official Twitter page, alongside a list of their partners.
Currently, BSCPad has a partnership with:
As you scroll further down the page, you are given a lot more information about what BSCPad actually is.
Under that section of the page, you will find information about the BSCPad tiered system, as well as information about the second round, also known as the FCFS round.
- Under that section of the page, there’s the Incubator and Investment partner section, where BlueZilla is listed.
- Then there’s a legal partner known as Silk Legal underneath it.
- At the very bottom of the page, there's the contact tab that lets you contact support, join their telegram, or follow them on Twitter.
On the top navigation bar, there are a few options as well.
These include Connect Wallet, Projects, Staking, Calendar, Theme, and Language selection. The website is only available in English and Chinese as the language options.
Once you go to the project’s tab, you will see a list of the projects that are open now, the projects that are coming soon, and the closed projects.
An excellent feature here for experts is that you are given the full history of IDOs which have launched through the BSCPad, which means that you can analyze each and every one of them to get an indication about what kind of access they had, their cap, their swap rate, and their overall completion.
You can also view a clear number of the participants within each of them, which will give you a heightened perspective of how many users actually participate within these BSCPad IDOs.
Within each project, you will be able to find information such as:
- The social media channels
- Swap Rate
The staking page, on the other hand, is split across three subpages, these include Stake, Unstake, and Withdraw.
Here, you will be able to view the number of stakers, the total BSCPAD staked, and the APY.
Another interesting feature about the website is that on the back of it, through black dots portrayed in front of a gray background, you can see a map of the world, indicating that this is indeed a global project.
Additionally, the colors match the color scheme found within the Binance Smart Chain, which directly impacts the viewer's perspective and showcases the connection even before a single word is read by the user.
The easy access to buy BSCPAD tokens is also convenient, as those who know what the project is about and quickly want to fill up their portfolio with the tokens can do so as quickly as possible, and all of this contributes to the ease of use, initially.
However, things can get a bit more complicated within the staking tab, as a verification process has to be completed, each user has to agree to the Terms and Conditions, and there’s just a lot of information thrown in front of the eyes of the viewer initially.
The light or dark theme selection option is convenient, especially for people who are in different lighting conditions. In a dark room, the dark theme is easier on the eyes; however, in a brightly lit room, the white theme makes the text a lot easier to read.
One interesting and convenient feature not seen on many other pages, which makes the BSCPad differentiate itself a bit more, is the calendar icon showcased on the top. Once clicked, it gives a full-screen calendar, where you can click on specific days that have IDO launches on them. Once you click on the ICON, you have given information about the exact date and time when the IDO launches, including:
- The staking eligibility deadline
- The allocation Round time
- The FCFS Round time
This makes tracking IDO launches a lot easier for users who genuinely want to be engaged in as many projects as possible.
The first decentralized IDO platform on the Binance Smart Chain was founded in March of 2021.
After its launch on PancakeSwap on March 1 of 2021, BSCPad users traded over $300,000,000.
Some of the initial strategic partners and advisors here included Lester Lim of X21 Digital, Ferrum Network, Exnetwork Capital, and Danish Chaudhry, CEO of Bitcoin.com Exchange.
BSCPad has a tiered token allocation system split across an Allocation Round and an FCFS Round. To truly grasp the functionality behind the platform, we will be going over each of these in-depth.
BSCPad will showcase a fixed tier system, which is fully based on the number of tokens staked. The Lottery Tiers all share 20% of the total raise, and the rest 80% of the total raise is assigned for guaranteed allocation tiers, which is based on the pool weights assigned.
In the first round, called the Allocation Round, users can purchase the amount allotted to them based on their tier.
These are split as follows:
- Bronze – A user has to stake 1000 tokens within the time span of three hours prior to the opening of the round, and to get the whitelist, they need to like, comment and retweet a tweet that is related to the IDO that is held at the time. This level guarantees one lottery ticket.
- Silver – In this rank, the user needs to stake 2500 tokens within the span of three hours prior to opening the round. To get on the whitelist, however, they need to like, comment and retweet a tweet related to the IDO being held, and this is a level that will guarantee three tickets.
- Gold – Within the gold rank, a user has to stake 5000 tokens at least three hours prior to the opening of the round. In order to get whitelisted, they also need to like, comment and retweet a tweet that is related to the ongoing IDO. This level guarantees a total of seven tickets.
- Platinum – In this rank, the user essentially has to stake 10,000 tokens at least three hours prior to the opening of the round in question, and they are guaranteed allocation of tokens, where the weight of the pool is 10.
- Diamond – Within this rank, the user has to stake 25,000 tokens within the span of at least three hours prior to the opening of the round, in which case they are given a guaranteed allocation of tokens, and the weight of the pool is 30.
- Blue Diamond - In this last and final rank, a user has to stake 75,000 tokens, again, at least three hours prior to the time in which the round is opened, after which they have a guaranteed allocation of tokens. The weight of the pool here is 60, and the token allocation is available to the user at this level.
Then there’s the second round, also known as the FCFS Round.
- Within this second round, the unsold tokens from the first round become available through an FCFS basis, which is available only to the guaranteed tiers. The guaranteed tiers include Platinum, Diamond, and Blue Diamond.
- Within this phase, members can purchase an additional amount which is determined through a tier-based formula. This round is open until all of the tokens are sold. This typically lasts only a few minutes on average.
- Once all of the tokens are sold, the IDO is fully concluded.
In order for someone to participate within the IDO while using the BSCPad, they need to follow a few steps prior to doing so.
First, the user in question is required to connect a cryptocurrency wallet to the site in question, after which they need to ensure that the wallet has BNB as a means of paying for the transaction fees which occur within the Binance Smart Chain network.
Then the user is required to buy BSCPAD tokens in the amount which will make them eligible to participate within the IDO, which is at least 1,000 tokens.
After the purchasing process has been completed, the user needs to stake the tokens and go through the process of identity verification, after which they can choose the preferred project and take part within the IDO.
In terms of getting whitelisted, there are a total of six tiers on the BSCPad, and these are the Bronze, Silver, and Gold tiers, all of which are lottery tiers, while there are also three guaranteed tiers, including Platinum, Diamond, and Blue Diamond.
Lottery tiers are able to purchase tokens from the public pool, and guaranteed tiers will also be able to purchase tokens from the public pool. On the other hand, Blue Diamond tiers are eligible for private distribution.
What this essentially means traditionally is that the higher the tier a user is, the more tokens they will end up receiving at the time of the distribution, but on the BSCPad, the tiers are designed so all of the traders who participate within the IDO receive tokens throughout the distribution process.
The BSCPAD is a token developed to solve the fundamental flaws which have been found within existing launchpads prior to BSCPad. This token gives benefits across all of the holders and allows for fair launches, which gives traders of all sizes the opportunity and ability to invest in the best upcoming Binance Smart Chain projects.
Pros and Cons of BSCPad
- Clever tier system.
- Split across two rounds to enable a higher level of functionality.
- Fair and reliable.
- No history of hacks.
- The homepage is flooded with information which can be intimidating for new users.
The Bottom Line
BSCPad essentially establishes a solution that incentivizes and rewards all token stakers in a way that is inclusive and has a low barrier of entry.
It essentially attempts to resolve some of the most fundamental flaws of launchpads that came out before it, specifically within the process of acquiring enough tokens to participate within the ecosystem while also enabling allocation spots.
This makes it suitable for anyone interested in participating within IDO’s, even without the need to achieve the maximum tier.
Frequently Asked Questions (FAQs)
Is BSCPad safe?
The BSCPad platform has had no history of being compromised, and there are numerous security measurements in place.
How does a user participate within BSCPad?
A user has to connect their cryptocurrency wallet, purchase at least 1,000 BSCPAD tokens, and finish the identity verification process. Then they need to essentially stake the minimum tokens which are required in order to reach the desired level through the announced IDO deadline and complete any additional tasks within a pre-specified time frame, such as social tasks.