Blockchain technology has gained massive popularity in the past years, being known for solving a variety of issues that we encounter, especially in the fintech sector.
However, one of the major challenges of blockchain is scalability.
Traditional blockchains such as Ethereum have been trying to solve the issue with scalability for years, but it still seems like a goal that’s just out of reach.
So, as a response, projects such as Solana were developed from the ground up in order to solve what traditional blockchains couldn’t. And many other projects were quick to start developing their own apps through the Solana blockchains.
Solstarter is the first decentralized fundraising and IDO platform built on the Solana blockchain. Their primary goal is to empower users to easily invest in the future of decentralized finance, helping projects built on the Solana network raise funds in a fair and transparent way.
Solstarter operates on three core principles that supports its primary goal – to democratize investing in DeFi and bring widespread adoption to the Solana ecosystem.
1. Fair distribution
Solstarter aims to be completely fair when working with IDOs, so allocations are given based on how much SOS a user stakes.
2. Guaranteed allocations
In order to further promote that fairness, Solstarter guarantees allocations for each project through their two tiered auction system.
3. Full decentralization
Being built on blockchain technology and governed by a DAO, Solstarter aims to be one of the major crypto projects, helping shape the future of the industry and democratizing fundraising.
The Solana network is one of the fastest growing blockchains with multiple large cap projects being developed over the last year. Solstarter aims to continue the adoption of this ecosystem by driving the incubation and funding of future innovative projects built on Solana.
The Four Tiers of Solstarter
To further build on the principle of fairness, Solstarter uses a tier-based system that allocates each participant in a pool. This makes it predictable and incentivizes holders of SOS tokens to capitalize upon and support new IDO projects on their platform.
- Tier 1 – Moon – given to projects with a 7% pool weight and 5,000 staked SOS
- Tier 2 – Planet – given to projects with a 15% pool weight and 9,000 staked SOS
- Tier 3 – Red Giant – given to projects with a 28% pool weight and 16,000 staked SOS
- Tier 4 – Supernova – given to projects with a 50% pool weight and 25,000 staked SOS
But let’s talk a bit about the tokenomics of SOS.
The primary utility of the SOS token is to allow its holders to participate in new IDO sales on the platform by staking tokens. At the same time, SOS token holders are able to participate in the Solana Decentralized Autonomous Organization (DAO).
DAO allows its members to control the platform’s future by iterating upon key aspects of Solstarter such as pool weight proportion for each tier, additional utilities, minimum staking period, and any other aspect that is voted upon.
Solstarter is a project founded in 2021. But despite being new on the market, it quickly grew in popularity due to its strong principles, ambitions, and plans.
Besides the current development of the project, Solstarter plans to soon launch Curated Pools, followed by the development of the DAO, Vesting Contracts, and OTC Trusted Swaps in Q3 of 2021. For Q4, the team plans to build more ecosystem partnerships, expand the project, and apply an LBP model for its sales process.
Solstarter’s team has vast experience in various areas such as product and brand development, business growth, management, web app architecture and blockchain development. They are also supported by a team of 4 advisors that are known for collaborating with top crypto and finance projects such as Momentum 6, BLockventure Coalition, CoinTelegraph, and Project Serum.