Beginners Guide To Vent’s DeFi Launchpad – Your All-In-One Platform To Participate In Token Sales

As DeFi garners mainstream acceptance, so do Initial Decentralized Exchange Offerings (IDOs). Usually, evaluating crypto projects and conducting a thorough due diligence can be a headache for anyone not familiar with the crypto ecosystem. The lack of knowledge and the fear of backing sham projects create an entry barrier, choking up funding to several potential Web3 projects. 

To that end, the Vent Launchpad aims to eliminate these entry barriers by taking on the responsibility of performing due diligence on projects seeking funding. It also has security measures to safeguard the participants from potential risks such as rug pulls. Its primary goal is to create a simple, transparent, and secure environment for everyone to participate in IDOs regardless of their prior experience in crypto. We will discuss how the Vent Launchpad works and how you can use it to participate in token sales safely.

What is the Vent Launchpad?

Vent Finance is a multichain community-based IDO launchpad integrated with Ethereum, Cardano, Polygon, Avalanche, Binance Smart Chain, and EVMOS. It's basically a crowdfunding platform granting access to quality early-stage Web3 projects, with guaranteed token allocation to the participants and protection for the purchased tokens. Participants have a 100% token-back guarantee if the projects do not meet their set milestones.

With the VentUp Community Funding Platform, Vent allows anyone to participate in fully vetted projects on both Cardano and Polygon blockchains. It uses the Centralized-Decentralized Finance (CeDeFi) model to ensure that users without knowledge of the crypto ecosystem can seamlessly participate in DeFi projects.

This model brings the regulatory safeguards of traditional Finance to DeFi. It guarantees expedited adoption of Web3 projects under the strictest compliance environment and rigorous due diligence. All this is achieved thanks to a dedicated community of qualified partners and investors. Generally, the partners engage with project creators to ensure quality outcomes through incubation providing expert guidance throughout the complex launch process. That means Vent is fully involved in the projects from early-stage roadmap design, legal structuring, fundraising, and marketing strategy, all the way to post listing integrations. This puts Vent in a unique position to conduct surgical due diligence and guarantee a project's compliance.

VENT Token Utility

Vent has a total of 250 million VENT tokens, with about 29.157 million tokens in circulation. VENT is a  multi-utility liquidity token used in the Vent ecosystem for platform governance and Finance. It is the only funding currency on the VentUp launchpad, which means that IDO participants must fund their MetaMask wallets with VENT. Holders can also stake VENT, or participate in liquidity mining to earn rewards. 

How Does the Vent Launchpad Work?

Typically, every launchpad has a native token that participants use to access the projects within the ecosystem and unlock the benefit of using the platform. Vent Launchpad uses its native token, VENT, in a simplified ticket allocation distribution system (STADS) to group participants in an IDO. Basically, your token allocation in any project will be determined by your participation tier, depending on your VENT token holdings.

To participate in the IDO, you'll first need to be whitelisted, which, on Vent, it's done through the base guaranteed allocation (BGA). The BGA shows the participants who have applied to fund the IDO and how many tokens they will be allocated depending on the number of VENT tokens they have put up. Generally, these VENT tokens must be held throughout the snapshot period, which is usually about seven days before the IDO commences. 

During the snapshot period, Vent monitors the tokens in your wallet to determine if you have the minimum VENT tokens needed to participate in the IDO. Whether or not you qualify will depend on your average holding score (AHS). It is calculated by dividing the VENT tokens you hold during the daily snapshot by the number of days in the snapshot. You must have an AHS score of at least 5000 VENT to participate in the IDO. 

How to use the Vent Launchpad

A launchpad is a blockchain-based platform assisting new projects to raise funds through initial token sales. As a multichain launchpad, Vent has integrated six top blockchains, including Ethereum, Cardano, Polygon, Avalanche, Binance Smart Chain, and EVMOS. More so, multiple tokens more than one token, and in some cases, allow token bridging to achieve scalability and integration.

Here's how projects are listed on Vent's Launchpad:

1. Project developers create their profiles and apply for listing on Vent Launchpad
2. Vent's team and partners conduct due diligence to ensure the project meets the set quality standards
3. If approved, it goes live on the launchpad for the community to upvote
4. When the project attains the minimum 1500 upvotes, the IDO date is set
5. The token holders staking VENT receive an allocation in the project
6. Finally, the IDO proceeds as scheduled. 

For the participants, signing up to participate in an IDO is a straightforward process, which requires full KYC verification done in two quick steps. Here are the steps on how to use the Vent Launchpad.

Step 1: Create an account here

Step 2: Verify your account: 

After you sign in, you'll be prompted to verify your account by completing the KYC verification, which should take approximately less than a minute. All you'll need here are a copy of your passport, driving license, national ID, or residence permit.

After passing the KYC verification, you can proceed to connect your MetaMask wallet to the launchpad. This will allow you to buy VENT tokens, stake them, and participate in any IDO listed on the launchpad. 

Step 3: Find a project whose IDO you'd like to participate in

The list of all upcoming IDOs is available on Launchpad's dashboard. You'll see the project's name, the number of upvotes it has, and the fundraising target. 

Step 4: Add VENT tokens to your MetaMask wallet 

You can swap BTC, MATIC, ADA, ETH, USDC, BNB, etc., for VENT tokens on DEXs like Uniswap or PancakeSwap. You'll need at least 5000 VENT to participate. After adding the tokens to your wallet, connect it to the launchpad

Step 5: Entry Listing

Once you've selected a project, click on it, and you'll be prompted to upvote it and then proceed onto the entry listing. This is where participants are whitelisted for the IDO, and the participation tier is determined. And since the participation slots aren't unlimited, only those who meet all the requirements participate in the IDO. 

A few days before the IDO launches, the Vent team will release a list of all the wallets that will participate in the IDO and their Base Guaranteed Allocation.

Step 6: Golden Allocation

If any wallet decides not to claim the tokens in the IDO or is disqualified from claiming them, the unclaimed tokens are put in a Golden Allocation pool. These tokens will then be distributed to participants who meet the minimum requirements on a first-come-first-served basis. 

What does the Vent Launchpad offer?

Here are some of the features that make Vent Finance stand out compared to its competitors:

Guaranteed Token Allocation

Most existing launchpads prefer using guaranteed allocation or random lottery systems in IDOs. These systems have significant drawbacks; for example, the lottery system isn't entirely transparent and may cause frustration for those not allocated any tokens. On the other hand, although guaranteed allocation is inclusive, it limits the amount which participants can put into an IDO. Vent uses a simplified ticket allocation distribution system (STADS) to ensure accessibility and equality for all participants.

100% Token-back Guarantee

If the project fails to accomplish its milestones, Vent Finance has a 100% token-back guarantee for all participants. Another insurance measure includes only releasing the IDO funds when the project has met specific milestones. 

Thorough Due Diligence

Among the current IDO launchpads, Vent conducts one of the strictest due diligence processes on all projects seeking funding on the platform. Its primary focus is to ensure that the projects have a long-term value to the DeFi ecosystem and that the IDO participants do not get into sham projects. Before determining if a project is worth listing, Vent conducts quality checks, including the team's qualifications, core technology, relevance, Tokenomics, and tech integration. 

And the entire process is transparent – the profiles of all projects are open for the entire community to browse through. This effectively also allows users to conduct individual due diligence on these projects. There's also a comment section where they can post their comments, suggestions, or questions regarding the project.

Strict KYC and AML Compliance

Vent ensures that fundraising for all projects complies with anti-money laundering and terrorist financing laws. That is why KYC verification is mandatory when signing up on the platform. This includes ID verification, proof of residency, and passing AML checks.

Note that Vent complies with the General Data Protection Regulation (GDPR), which ensures the privacy and security of your personal data.

Social Network

Vent has a thriving social media-style community bringing together project creators and like-minded individuals to participate in various IDOs. The platform allows them to interact freely, comment, and participate in upvoting different projects. 

The upvote button works like the traditional "like" button. It is how the community members show their approval on a project, and only projects with a minimum of 1500 upvotes become eligible for an IDO. Once the upvote threshold is met, the Vent team conducts due diligence before the IDO proceeds. The Launchpad also has interactive forums where users can generate any topics to share ideas, learn, or debate.

The Bottom Line

After the ICO craze of the past decade was marred by scams, IDOs are considered much safer options for funding blockchain projects. The Vent Launchpad takes an extra step to improve transparency and security in the fundraising process. Anyone wishing to participate in an IDO no longer has to rely on distorted or partial information from sources such as influencers or sponsored press releases. Vent conducts thorough due diligence on projects and has safeguards to guarantee the safety of the participants' funds. 

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